Participation in Residential Tax Abatements and Guideines and Criteria

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RESOLUTION NO. 2023-018 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS RE- AUTHORIZING THE CITY TO BECOME ELIGIBLE TO PARTICIPATE IN RESIDENTIAL TAX ABATEMENTS AND APPROVING GUIDELINES AND CRITERIA FOR THE RESIDENTIAL TAX ABATEMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, Sec. 312.002 of the Texas Tax Code requires local taxing entities to state their intent to participate in abatement agreements and to adopt guidelines and criteria for granting tax abatements; and WHEREAS, on October 14, 2013 in Ordinance No. 2013-036, the City Council designated Reinvestment Zone No. 2013-1 for residential tax abatements; and WHEREAS, concurrent with Ordinance No. 2013-036, the City Council also approved Resolution No. 2013-036 electing to be eligible to participate in a residential tax abatement program and approving Guidelines and Criteria for Residential Tax Abatement Program as required by statute; and WHEREAS, on February 9, 2015, the City Council passed Ordinance No. 2015-002 amending Reinvestment Zone 2013-1 for Residential Tax Abatements to expand it to include all Council Districts in the City and designated the new reinvestment zone as Reinvestment Zone No. 2015-1; and WHEREAS, on January 9, 2017, April 22, 2019, and April 12, 2021, the City Council approved Resoulutions re -authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criterial for the residential tax abatement program; and WHEREAS, in 2020, City Council re -authorized Reinvestment zone 2015-01 and renamed it Reinvestment Zone No. 2020-1; and WHEREAS, pursuant to Texas Tax Code Sec. 312.002(c), guidelines and criteria for tax abatements are effective for two years from the date adopted; and WHEREAS, the City Council conducted a public hearing at its regular meeting on April 10, 2023 as required by law wherein the public was invited to comment on renewing the Residential Tax Abatement Program; and WHEREAS, having considered testimony provided at said public hearing, the City Council continues to desire to participate in a residential tax abatement program in the City of Paris and has been presented Guidelines and Criteria for a Residential Tax Abatement Program;