16 - Chapter 380 Retail Economic Development Program

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EXISTING CHAPTER 380 POLICY—TO BE REPLACED BY NEW PROGRAM City, ot'llaris Retail General Purpose ai�W Objectives The City of Paris is committed to the promotion and retention of high quality development in all parts of the city as part of an overall effort to improve the quality of life for its residents. Since this purpose can be served, in part, by the expansion of its commercial business, retail, and mixed use base, the City of Paris will give consideration to providing economic development grants, sales tax rebates, loans, and other incentives, such as tax abatements, as may be allowed by law as stimulation for selected economic development within the community. It is the policy of the City of Paris that consideration will be provided in accordance with the criteria set forth in this document. Nothing within this policy shall imply or suggest that the City of Paris is under any obligation to provide tax abatement or any other incentive or assistance to any applicant. All applicants shall be considered on a case -b -case basis. Applicability This Economic Development Policy establishes guidelines and criteria for economic development agreements, including possible tax abatement programs, under the provisions of Chapter 312 of the Texas Tax Code, and other economic grants, loans, or incentives as authorized by Chapter 380 of the Texas Local Government Code, the Development Corporation Act; Article 5190.6, Tex. Rev. Civ. Stat.; Article III, Section 52-a of the Texas Constitution; and other applicable laws. .��''�IIC��')IIr'Inilc l ev wl�"�IC^��"IIr'IV�Pnl: Grants, I o�' iI'i , andtl':Ieir l�"��:��"VP"IIItives l� Section I. Criteria A. Any application for economic development grants, loans, and/or other incentives shall be reviewed and approved or disapproved by the Paris City Council. In the review process, the council will, if applicable, consider the recommendations of the Lamar County Chamber of Commerce and/or the Paris Economic Development Corporation. In general, the application will be considered based upon the following: • The value added to the community by the applicant's proposed project; • The sustainability of the project; and • The likelihood of the development of the proposed project occurring without grants and/or other incentives. Specific considerations for approving economic development applications will be based upon the degree to which the proposed project: • Furthers the goals and objectives of the community as expressed in its comprehensive plan, master land use plan, and zoning ordinances; the master parks, recreation & open space plan; the Cox Field Planned Development District ordinance; the Lake Crook Planned Development District ordinance; the downtown redevelopment plan; any and all other adopted economic development plans and policies of the city and the PEDC; and any extant city infrastructure development plans and programs; • Impacts the city's costs and ability to provide existing and expanded municipal services; • Impacts the local environment, housing market, and available infrastructure; • Offers potential for long-term payback in tax revenues for the city's participation; and • Likely stimulates other desirable economic development within the city.