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1995-06-14-PEDC
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1995-06-14-PEDC
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Last modified
8/18/2006 4:36:02 PM
Creation date
3/6/2001 3:24:47 PM
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CITY CLERK
Doc Name
1995
Doc Type
Minutes
CITY CLERK - Date
6/14/1995
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145 <br /> <br /> COST BENEFIT EVALUATION FACTORS: The Paris <br /> Economic Development Corporation will evaluate potential <br /> projects based on cost/benefit analysis taking into <br /> consideration the following criteria: <br /> <br /> a) Commitment of company funds: The Company must <br /> make a cash commitment to the project A company <br /> commitment in the range of 15-30% is preferred; 20% can <br /> be used as a general guideline; the specific contribution <br /> will be negotiated on a case by case basis. <br /> <br /> b) Leverage of other funds: The ratio of all other funds to <br /> the funds committed by the Paris Economic Development <br /> Corporation shall not be less than 1:1. "Other funds" may <br /> include company equity, private debt, and state or federal <br /> grants or loans. <br /> <br />-- c) Dollars per job: A flexible approach is recommended in <br /> this case, depending on the extent of a company's <br /> economic impact. The general guideline which will be <br /> used is 1 job per $10,000 in loan funds and 1 job per $2,000 <br /> in grant funds. For companies which are adding to the <br /> property tax base, provide higher wages, have substantial <br /> related economic benefits (i.e. purchasing of locally grown <br /> agricultural products, extensive use of local machine <br /> shops, etc.), and make a long term commitment to the <br /> community (i.e. purchase vs. lease), the PEDC may elect <br /> to increase the financial commitment per job on an <br /> individual case by case basis. <br /> <br /> <br />
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