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Paris, Texas Economic Development Corporatiori <br />POLfCY STATBMENT <br />CRITERIA AND GUIDELMS FOR TAX A13ATEMENT <br />Tax abatement in only be aranir-d. for Z. I <br />I ............... ................ <br />AU -1411 .011-MVIL. 01 A M1 ij Kid; 1*310117j Zieqq <br />The negotiation of tax abatemerd agrcwmts will be conducted by the Paris Economic <br />Development Corporation (Paris EDO in W;tk, 01A ri'inj �IL <br />711. IM PEOIJUS W­effm M --f Aen= <br />on public investment win be MMWtd in tOrm Of WAS cmted, obs retained in cases of <br />existing OMPIOYers Widlin 6P City, and (ifi) broadening of the tax base, and eXpaMfOn of the <br />economic bw (e.g. capital investment). <br />bft Criteria for Tax Abatement for Real and Personal Property <br />A PrVatY Owner and/or lenee SMI be ellgiblefor tax abatement only Upo010 <br />u the f I wing <br />criterk <br />...... . . .. . ..... <br />Uthorized 1. <br />...... .... <br />An authorized facility is used for manufacturing, nuem rMonadi ...... <br />stri6aon' regional <br />Facility <br />tourist entertainment, other basic industry, or any primary jobs creating industry. (see <br />Appendix A for 4atailed deftitions.) <br />2. <br />A new auOWTIUd racHity must be cyeated, or am existing "Oriud heflity must be <br />Jmwov4 modemized or expanded. <br />3. <br />Ita kaged wAmized facility is granted abatement, the Agreementrilay be executed with <br />lessor and/or lessee, depending upon the particular circumstences ofthc proposed project. I <br />thle agreement Ls with Ike lemor, Icssor shag demonstrate binding contracts with the lessee to <br />the <br />... ....... <br />0144=; 44MV <br />"ro we Coy <br />PMPCqiy <br />am <br />Located in 12, <br />Ex <br />(7) yam with a <br />Historic <br />erciel prope <br />DistrictrMn <br />canstFu <br />WnSUU On MqUiMS R MWIMUM InVOOMWnt Df $100,000 to be considered <br />thfte(a)year 100% exemption. <br />4. <br />New commercial constmedort requires a minimum Investment cyf $200,00 for a 190% lax <br />!!!MnV f . <br />Ai.—L­The <br />. . .. . . . . ............. . <br />City will decide whetherto grAlt tax ibatement to an applicant, and the namount ffany, <br />Term of <br />such abatement oil a cawbycase 1r;asis and in accordance with fifte Criteria and (3uidelines. <br />Abatement 2. <br />ne term of abatement granted under any agreem enj may not exceed that perm itted by <br />_kpplicable state Ian,. <br />