Laserfiche WebLink
<br />GUIDELINES AND CRITERIA <br />FOR REINVESTMENT ZONE NUMBER THREE <br />FOR THE CITY OF PARIS, TEXAS <br /> <br />The City of Paris is committed to the promotion of <br />quality development in all parts of the City and to an <br />ongoing improvement in the quality of life for its citizens. <br />Insofar as these objectives are generally served by the <br />enhancement and expansion of the local economy, the City of <br />Paris will, on a case-by-case basis, give consideration to <br />providing tax abatement incentives as a stimulation for <br />economic development in Paris. It is the policy of the City <br />of Paris that said consideration will be provided in <br />accordance with the procedures and criteria outlined in these <br />Guidelines. However, nothing herein shall imply or suggest <br />that the City of Paris is under obligation to provide any <br />incentive to any applicant. All applicants shall be <br />considered on a case-by-case basis. <br /> <br />The adoption of these Guidelines by the City Council of <br />the City of Paris does not (1) limit the discretion of the <br />City Council to decide whether to enter into a specific tax <br />abatement agreement or (2) limit the discretion of the City <br />Council to delegate to its employees the authority to <br />determine whether or not the City Council should consider a <br />particular application or request for tax abatement. <br />Further, by adopting these Guidelines, the City Council is <br />not nor does it intend to create any property, contract, or <br />other legal right in any person or entity to have the City <br />Council consider or grant a specific application or request <br />for tax abatement. <br /> <br />1. <br /> <br />(a) "Abatement" means the full or partial <br />from ad valorem taxes of certain real and tangible <br />property in a Reinvestment Zone designated for <br />development purposes. <br /> <br />exemption <br />personal <br />economic <br /> <br />(b) "Act" means the Property Redevelopment <br />Abatement Act, Texas Tax Code, Section 312.001, et <br />amended from time to time. <br /> <br />and Tax <br />seq., as <br /> <br />(c) <br />abatement <br />City. <br /> <br />"Agreement" <br />between a <br /> <br />means the wr i tten agreement <br />property owner and/or lessee <br /> <br />for <br />and <br /> <br />tax <br />the <br /> <br />EXHIBIT A <br />