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(Updated 01-10-2022) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />Y employer g........-. �A... <br />week, made available b one em to er and added to ether to total 40 hours per week For <br />example, fourteen (14) part-time jobs made available by one employer where all such part- <br />time jobs added together require a total of 380 hours of work per week (but no such part- <br />time job requires 40 hours of work or more per week), will equal nine and one-half (9.5) <br />FTE jobs (380 hours divided by 40 hours per week equals 9.5). <br />3 FTEJ94o not quire the employee to receive benefits from the emi aloyer. <br />Modem�zation The replacement and upgrading of existing facilities, which increases the productive input <br />or <br />output, updates the technology, or substantially lowers the unit cost of operation. Modernization <br />may result from the construction, alteration or installation of buildings, structures, fixed <br />machinery or equipment, but shall not be for the purpose of reconditioning, refurbishing, <br />relsuzn, or deferred maintenance. <br />Personal Pro Machin la <br />Property Machinery, equipment, tools, shelving or materials eligible under applicable law for tax <br />a abatement, which can be removed from an authorized facili r <br />Proeri�� Real r,�qy or Personal Proper defined herein that is eligible for tax abatement. <br />Real Property The land within an Enterprise Zone or a Reinvestment Zonetogether with all " <br />, g improvements <br />and fixtures constructed or otherwise situated thereon. <br />-Tax Abatement The Tax Abatement Advisory Com m .- - - _ . h <br />" ry mmittee will be convened from time to time by the Paris <br />Advisory Committee Economic Development Corporation to study, review and recommend tax abatements to the <br />applicable Taxing Jurisdictions in the City of Paris and Lamar County, Texas. The Tax <br />Abatement Advisory Committee will be composed of one person from each of the Taxing <br />Jurisdictions: the City of Paris (the City Manager or designee), the County of Lamar (the <br />County Judge or designee), Paris Junior College (the President or designee), the Chief <br />Appraiser of the Lamar County Appraisal District, and the Executive Director of the Paris <br />Economic Development Corporation. Recommendations from the Tax Abatement Advisory <br />Committee shall be decided by majority vote of the representatives from the three taxing <br />entities referenced above. <br />9 <br />