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2022-002 - Authorizing the City to be Eligible to Participate in Property tax Abatements and Approving Guidelines and Criteria for Granting Tax Abatements
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2022-002 - Authorizing the City to be Eligible to Participate in Property tax Abatements and Approving Guidelines and Criteria for Granting Tax Abatements
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(Updated 01-10-2022) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />waived, provided state law is fully complied with. <br />The local taxing jurisdictions encourage existing employers to retain as many jobs and as much <br />existing annual payroll as is economically feasible for the existing employer, while remaining <br />competitive in its industry. <br />VII. Greenfield projects <br />In order to encourage the development of greenfield properties and also to be able to expedite <br />certain new projects, the criteria for tax abatements for improvements to real property and for new <br />personal property at authorized facilities set forth in Article V above shall be waived for projects <br />exclusively involving greenfield properties, provided state law is fully complied with. <br />VIII Ahcation Process <br />m...a.. cess _ <br />_e <br />Eligibility Any present or potential owner of taxable property in the Taxing Jurisdictions may request tax <br />abatement by filing a written request with the City Manager or County Judge, with a copy of the <br />apl)hcation forwarded by the apiJhcant to the Executive Director of the Paris EDC. <br />_. _.__ .......__ ._._.... ._. ......... <br />Form The application shall consist of a completed application form accompanied by the following: <br />1. A general description of the improvements to be undertaken together with the pro j e cted new <br />value to the property and the type of business operation proposed. <br />2. A detailed, descriptive list of the improvements for which abatement is requested. <br />3. A list of the kind, number, and location of all proposed improvements of the property. <br />4. A list of the number and type of jobs created, including information pertaining to anticipated f <br />job transfers (if any). <br />5. A metes and bounds description and plat of the proposed reinvestment zone that shows all <br />roadways within 200 feet of the reinvestment zone and all existing zoning and land uses <br />within 200 feet of the reinvestment zone. <br />6. A time schedule for undertaking and completing the proposed improvements. <br />7. The type and value of any additional economic development incentives requested. <br />8. Any other information about the proposed project as may be required by the Taxing <br />Jurisdictions or as deemed desirable b. the Taxing Jurisdictions <br />urs ct. . ....... ......... _ <br />Review 1. All applications will be initially reviewed by the PEDC executive director. <br />Process 2. An initial project briefing meeting will be conducted between the company's representatives, <br />the PEDC executive director, the city manager, and the county judge. <br />3. The PEDC executive director will evaluate the request for tax abatement in accordance with <br />these criteria and guidelines and will make his/her recommendation to the Paris City Council <br />and Lamar County Commissioners Court for their review and possible approval. <br />4. After the Paris City Council has been briefed on the proposed tax abatement offer and they <br />have directed the PEDC executive director to move forward, the Paris City Attorney will <br />draft the initial tax abatement agreement for review by the PEDC Board and representatives <br />of each Taxing Jurisdiction. <br />5. Electronic versions of the City's abatement agreement will be provided to the County so all <br />agreements have consistent language, terns and conditions. <br />6. Following review of the draft agreement, it will be sent to the applicant's legal counsel for <br />review and comment. Any changes requested by the tax abatement applicant will be <br />reviewed by the City Attorney. <br />7. Once the Agreement is finalized, it will be placed on the PEDC Agenda for board <br />recommendation. <br />8. Once the Tax Abatement Agreement has been acted on by the PEDC Board, the Agreement <br />shall be forwarded to the Paris City Council and Lamar County Commissioner's Court for <br />Public Hearin 1. The Taxing Jurisdictions will comply with certain public notices and hearings <br />final consideration and action. <br />Hearing g p y p g required as <br />mandated by state law under the Props ,,, Redevelopment and Tax Abatement Act i rior to <br />6 <br />
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