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<br />real property in each year covered by the Agreement unly to <br />the extent its value for that year exceeds its value for the <br />year in which the Agreement is executed. An Agreement may <br />provide for the exemption of tangible personal property <br />located on the real property in each year covered by the <br />Agreement other than tangible personal property that was <br />located on the real property at any time before the period <br />covered by the Agreement. Inventory or supplies cannot be <br />abated as tangible personal property. <br /> <br />It is the intent of the City of Paris to customize the <br />offering of tax abatement incentives on a case-by-case basis. <br />This individualized design is intended to allow maximum <br />flexibility in addressing the unique concerns of each <br />applicant while enabling the City to better respond to the <br />changing needs of the community. As a general rule, no tax <br />abatement will be granted to any applicant in an amount <br />exceeding 10010 of the estimated total tax increase to be <br />levied on the proposed property improvement or for a term <br />exceeding seven (7) years. The threshold criteria that will <br />be utilized in evaluating a particular abatement will <br />include, but not be limited to, the following: <br /> <br />(i) The proposed project must create at <br />least 40 or more jobs and to promote among <br />equally qualified job applicants the hiring of <br />employees from the enterprise zone, City of <br />Paris, and Lamar County, Texas, subject to the <br />laws and regulations of the United States of <br />America and the State of Texas and subject to <br />any labor contracts currently in effect and <br />any successive contracts or past practices. <br /> <br />( i i) An <br />$4,000,000.00 <br />required. <br /> <br />(iii) The project must meet all relevant <br />zoning requirements. <br /> <br />investment <br />in property <br /> <br />of at least <br />improvements is <br /> <br />(iv) The types and cost of public <br />improvements and services (water and sewer main <br />extensions, streets and alleys, etc.) will be <br />required of the City? What types and values of <br />public improvements, if any, will be made by the <br />applicant? <br /> <br />GUIDELINES & CRITERIA - Page 3 <br />