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TO: City Council <br />Gene Anderson, Interim City Manager <br />FROM: Stephanie H. Harris, City Attorney <br />SUBJECT: TAX ABATEMENT POLICY <br />DATE: January 13, 2020 <br />Item No. 11 <br />BACKGROUND: Municipalities that offer ad valorem tax abatements are required to adopt and <br />maintain a tax abatement policy. These may be very broad, or very specific and detailed like the <br />one used in Paris. <br />STATUS OF ISSUE: The current policy was approved in January 2018 for a period of two years, <br />so needs to be re -adopted. A change in the law since 2018 requires that council conduct a public <br />hearing prior to readoption. <br />BUDGET: NA <br />RECOMMENDATION: Readopt existing guidelines, attached hereto. <br />