1992-078-RES WHEREAS, the City Council of the City of Paris, desires to promote economic development within the

Home Browse Search

3) A brief description of the proposed improvements or expansion and its projected costs; the type of business operation proposed; the number and type of jobs created, including information pertaining to anticipated job transfers, the projected date of operation; and the type and value of any economic development incentives requested. 4) Any other information about project as may be required by the City desirable. the proposed or as deemed Once the application has been received, the information submitted will be reviewed by the City Manager for completeness and accuracy. The City Manager will then distribute the application to the appropriate department heads for internal review and comments. Following staff review, copies of the complete application package and staff comments will be provided to the City Council and to other taxing entitled that may be willing to participate in offering tax abatement incentives. Generally, the City Council, staff and other taxing entities will discuss the proposed application at a work session prior to its formal consideration by the Council. Following the work session, the City Manager may be requested to obtain other information prior to further consideration of the application. At a subsequent regular City Council meeting, the application for any tax abatement incentive may be considered. The City will comply with certain public notice and hearings are required as mandated by state law under the Property Redevelopment and Tax Abatement Act prior to the designation of a reinvestment zone and execution of a tax abatement agreement. Prior to final approval, all legal documents to effect such reinvestment zone(s) and tax abatement agreements shall be drafted and approved by the City Attorney. Should the City Council determine that it is in the best interest of the City of Paris to provide tax abatement incentives to a particular applicant, a resolution shall be adopted declaring that under the guidelines and criteria established herein, the applicant is eligible for tax abatement and that the Mayor is authorized to execute a contract with the applicant, enumerating the type of incentives and governing any conditions applicable to it. Any agreement so adopted must include at least the following specific items: 1) Description of the type of tax abatement to be provided and its duration.