15 - Tax Abatement Agreement for Ametsa Packaging

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(Updated 01-10-2022) POLICY STATEMENT CRITERIA AND GUIDELINES FORTAXABATEMENT APPENDIX A Ition Abatement or Tax The fall or pa—r-ti'a"1--e'xe-m—p-ti'on from ad valorem taxes of certain real and tangible personal. i Abatement ement in a Reinvestment Zone,desigua� for economic,developme or The written legal agreement for tax abatement between a property owner and/or lessee and the reements I :C"itv pfPar,is,,Lamar County and Pans Junior -College. Authorized A facility may be eligible for abatement if it is a facility used for manufacturing, research, Commercial or regional distribution, regional services, regional tourist entertainment, other basic industry, or Industrial Facility any primary jobs mating industry (see definitions below). All authorized facility definitions include buildings and structures, including fixed machinery and equipment used in operating the facility, i Authorized oize(T— . . . ............ . The City Council of the City of Paris may also designate areas of the City where residential Residential Facility properties may be considered for abatement of City taxes only. The City of Paris will approve their residential abatement policies,criteria and guidelines separate from these policies. . . .... .... . .. - . I - - , , , - I -4 " �utlari�j— Manufacturing_ The purpose �which is or ill be the manufacture. of tangible goods or materials or the Facility processing of such goods or materials by physical or chemical change. Facilities primarily engaged in assembling component parts of manufactured products are also . . . ..... . .. ......... considered 1��c facilities. . .. ..... . . . Regional Used primarily to receive, store, service, or distribute goods or materials where a majority of Distribution Facility the goods or services are distributed to points at least 100 miles from its location in the Taxing Jurisdictions of Paris and Lamar County. Regional Tourist Used in providing amusement/cirtcrtairiment through the admission of the general public where Entertainment the majority of users reside at least 100 miles from the Taxing Jurisdictions and where the Facility majority of users are likely to stay in the Taxing Jurisdictions for more than one day and will therefore likely utilize local restaurants and hotel/motel accommodations. . ........ . Research Fac—Jh—ty---]' Used primarily for researchorexperimentation to improve or develop new tangible goods or I materials or to improve or lqpffie rodu onp prove p_ p� . . ............. Other Basic or 1 11--, 1-- I'll, -. dev� . . ..... Not elsewhere described, used for the production of products or services which result in the Service Industry g creation of now jobs and bring new wealth into the Taxing Jurisdictions (e.g. healthcare- related mou� J� I'll Primary Jobs - --1dL - Any industry creating "primary jobs" defined as a job that is available at a company for which Creating Industry a majority of the products or services of that company are ultimately exported to regional, statewide, national, or international markets infusiq rk�,Oollars, into the local economy. . . ...................... . . ...... . . ............... ....... . ...... .. . ... .. .... . YearBase Value The assessed value of eligible property as of January 1, preceding the date of execution of the agreement plus the agreed upon value of eligible property improvements made after January 1, but before the execution of the agreement. The Base Year Value may be adjusted either up or down from y�w to year Appy*a! District. r as per renditions by the Lamar County Employer -` .......... . -'-- ;the owner or lessee of property, who is applying for tax abatement and who will provide jobs and capital investment within the Reinvestment Zone or within the Enterprise Zone. ri -decided" 'e, iiei�eni Zone An area where the.... Ju�� h- av e to influence u n"c' e development patterns and attract major investments that will contribute to the development of the area through the use of tax abatement for specified improvements. These statues are found in Chapter 312 of the Texas Tax Code. Enter r ' Zone ......... .... . An Elm of lan�*nated as such under Clmpter 2303 of the Texas Government Code. , , i"week '-for , "a Job or Jobs A "job" is when an individual works 40 hours per ne m" pl-o"y—er,—,a-n,-d-in---th-e--po—siti-on the individual is provided the benefits normally offered by the employer, such as health insurance, vacation and some form of retirement benefit A job is not a position filled for the employer as a worker or employee of an employment agency or employment service. "Jobs" also includes "Full-time E,,uivalent Jobs" defined below. Full-time Equivalent .............. . ....... . The intention of the governing bodies is to provide a company the maximum flexibility in running (FM) Jobs their business and making business decisions, especially related to staffing. The following definition of FTE will be reflected in all incentive agreements. An FTE is: 1. An individual working 40 hours per week in ajob defined above. 2. A number o jobs where the hours worked in each suchjob is less than 40 hours Baer..... . .. . .....