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Paris, Texas Economic Development Corporation <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMpNT <br />1. Geaeral Purpose and Objectives. <br />The 01Y Of Paris, Tens (heivin called the "City") is cormnd to enharteing the competitiveness <br />and the expansion potential of the City's manufacturing indu�, to attracting and encouraging <br />mw manufictuting industry and investnent; to improving the City and its inbstruchre, wwrh <br />attracts and dcvelM= and to emoLlre- 0 P. ITT. It9dep— <br />J7011NIF-MI-Rars - I ntrciolre, We-U"W] give consideration, on a case. <br />by -me basiproAding tax abstament according to state law to the owners of real and <br />Personal PrOPertY fQr P"Riects that stimulate eConornic growth and diversification in the city. <br />Tax abatement benefits may be made available to industrial, manu&cturing, distribution, and <br />service fadlities. or any "primary jobEel creating industry as defted by the Economic <br />Development Act of the State of Texa& The facility must be currently in the City or lomfing in <br />the City, and located in a designated Enterprise Zone or Reinvestment Zone. New fkailities and <br />structures as well as the oxi2ansion and M <br />considered. Evaluatica of a tax abaterneut request Will be based on the informationprovided in <br />the tax abstemerA application. However, the Cit34 Lamar County and paris Junior College am <br />under no obligation to provide tax abat=cnt to any applicant. <br />The Paris CiV Council acts 8S the lead entity for projects located in the cily Hnits. The Lamar <br />County Board of Commissioners and the Paris Junior College Board of Regents bave also <br />adopted We policy and will consider tax abatement request that qual* under these policies, <br />H. Definitions. <br />Definitions areprovided. as an Appendix A. <br />111. Designs dou of a Reinvestment Zone. <br />The City or County may designate an area as a reinvestment zone in accordance with the <br />critetia. and procedural requirements set forth in r <br />Uir <br />city to be ellgible for tax abat:cment it must meet the criteria for designation as a tax abftt=e4 <br />reinvestment mne as set forffi in the Property Redevelopment and Tax Abatement Act, Texas <br />Tax Code Ctmp$er 312. <br />IV. Tax Abatement Authorized. <br />The City, !Lr�ou its ekZted City Council, 111:1111:: <br />N I <br />If *411*111 Y461., M. -o i ffWTCMrs777—.fL <br />