26 - Tax Abatement Agreement for Lionshead Paris LLC

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(Updated 01-10-2022) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT ..... ........ W.... _ . ......- _ - made available by one employer and added together to total 40 hours per week. For example, fourteen (14) part-time jobs made available by one employer where all such part- time jobs added together require a total of 380 hours of work per week (but no such part- time job requires 40 hours of work or more per week), will equal nine and one-half (9.5) FTE jobs (380 hours divided by 40 hours per week equals 9.5). 3 FTE jobs do not re ire the employ p to receive benefits from the eruj)1oyer m... The lacement d upgrading f existing facilities, which increases the Modernization 1 output; updates the tecbnology, or sbstantially lowers the unit cost of operation. Modernizatione may result from the construction, alteration or installation of buildings, structures, fixed machinery or equipment, but shall not be for the purpose of reconditioning, refurbishing, Frei )aHILIg, or deferred maintenance. _ -•__-- __ Personal Pro Machinery, i mertt, tools, shelving or materials eligible under applicable law w for tax I abatemenJ Perry �' ..•..._., which can be Pp Pro -_. _Real Property or Personal Property ed facrht�r .._._ ._.__.� _ defined herein that is eligible for tax abatement. Real Property The land within an Enterprise Zone o a Reinvestm p rty ent Zone, together with all improvements and cted or otherwise situated thereon constructed _� _— -. , . _ _, Tax Abatement I The Tax fixtures Advisory Committee will be convened from time to time by the Paris Advisory Committee Economic Development Corporation to study, review and recommend tax abatements to the applicable Taxing Jurisdictions in the City of Paris and Lamar County, Texas. The Tax Abatement Advisory Committee will be composed of one person from each of the Taxing Jurisdictions: the City of Paris (the City Manager or designee), the County of Lamar (the County Judge or designee), Paris Junior College (the President or designee), the Chief Appraiser of the Lamar County Appraisal District, and the Executive Director of the Paris Economic Development Corporation. Recommendations from the Tax Abatement Advisory Committee shall be decided by majority vote of the representatives from the three taxing I' entities referenced above. ]