2022-047 - Approviing a Tax Abatement Agreement With Lionshead Paris, LLC

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RESOLUTION NO. 2022-047 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH LIONSHEAD PARIS, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris did heretofore, on the 10th day of January, 2022, in Resolution No. 2022-002, elect to be eligible to participate in tax abatement agreements in order to maintain and enhance the commercial and industrial economic and employment base of the Paris area for the long term interest and benefit of the City and its citizens; and, WHEREAS, under the Texas Enterprise Zone Act (Texas Government Code Chapter 2303), and the Redevelopment and Tax Abatement Act (Texas Tax Code Sec. 312.2011) the designation of an area as an Enterprise Zone also constitutes designation of the area as a reinvestment zone (the "Reinvestment Zone"); and WHEREAS, pursuant to the 2020 Census, the Property within City of Paris, Lamar County, Texas, is included within an Enterprise Zone, as is shown in the print-out from the Office of the Governor of the State of Texas on its website in Exhibit 1 to Exhibit A. attached hereto and made a part hereof for all purposes; and WHEREAS, Owner has agreed to make the Improvements specified in the Tax Abatement Agreement attached hereto as Exhibit A. said Improvements related to the construction of a manufacturing and warehousing facility for the assembly and distribution of tires and wheel assemblies; and WHEREAS, the Owner has agreed to create and maintain at least fifteen (15) full-time equivalent employment positions; and WHEREAS, the contemplated use of the Improvements as hereinafter defined, in the amount as set forth in this Agreement upon and within the Property, and the other terms hereof are consistent with encouraging development of said Enterprise Zone in accordance with the purposes for which it was created and are in compliance with the City's policy on tax abatement incentives and all applicable laws; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the terms of the Tax Abatement Agreement and the property the subject thereof meet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by Resolution No. 2022-002 and will lead to the economic development of the