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RESIDENTIAL TAX ABATEMENT PROGRAM <br />GUIDELINES AND CRITERIA <br />CITY OF PARIS, TEXAS <br />APRIL 12,2021 <br />%"Lim I I q I MY" <br />W j=TX w <br />.Leif Xftt'S7 Al <br />V <br />muur,mly';�tV14 1=1013- I * it 901-�C L711 rr <br />investment threshold and comply with these Guidelines and Criteria. All applicants shall <br />considered on a • basis. I <br />IIEBIA41911 Gig I N" <br />is amended from time to time. <br />Agim= oses <br />*f tax abatement. <br />Applicant -means an owner of real property or his authorized agent located in a reinvestment zone or <br />rwroposed reinvestment zone who requests tax abatement in accordance with these guidelines. <br />Base Year Value — means the assessed value of eligible property on January 1, preceding the date of <br />execution. <br />Eligible Property - means new structure or residential improvements located in a designated <br />Reinvestment Zone. <br />Modernization — means the replacement, expansion and/or upgrading of single-family residential <br />improvements for the purpose of reconditioning, refurbishing or expanding a single-family residence. <br />which is <br />placed into use by means other than or in conjunction with expansion or modernization. <br />Reinvestment Zone - means an area designated in accordance with the Act by the City of Paris. Only <br />property in a Reinvestment Zone may be eligible for tax abatement. <br />Residential Improvements - means the construction • now single-family residential • and all <br />the appurtenances thereto, and includes modernization of existing structures. This term does not include <br />duplexes • multi -family structures. <br />To Facility - means all improvements constructed. <br />