15 - Tax Abatement Agreement for Ametsa Packaging

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RESOLUTION employment base of the Paris area for the long term interest and benefit of the City and il 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 i i WHEREAS,WHEREAS, Owner owns certain property located at 2020 19th St. NW, Paris, Texas 75460 (the "Property") within the City of Paris, Lamar County� Texas, which, pursuant to the 2020 Census is included within an Enterprise Zone; and Owner has agreed to install equipment and machinery (the "Improvements") at the existing facility located on the Property, for the purpose of manufacturing and packaging of sweeteners and sugars; and WHEREAS, the Owner has agreed to create and maintain at lust thirty-five (3 5) full- time equivalent employment positions with benefits in the first year of operation and up to one hundred (100) such positions by the end of the fifth year sof operation; 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 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 Citv's Guidelines and Criteria for Tax Abaternentadowtff",w-tVe