15 - Tax Abatement Agreement for Ametsa Packaging

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STATE OF TEXAS COUNTY OF LAMAR TAX ABATEMENT AGREEMENT This Tax Abatement Agreement (the "Agreement") is entered into by and between the CITY OF PARIS, TEXAS, a municipal corporation, situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called "City"), and AMETSA PACKAGING, LLC, a Texas Limited Liability Company, acting by and through its authorized officer whose signature appears below (hereinafter referred to as "Owner'). WITNESSETH: WHEREAS, the City Council of the City of Paris did heretofore, on the 10th day of January, 2022, in Resolution No. 2022-002, elect to be eligible to participate in tax abatement agreements in order to maintain and enhance the commercial and industrial economic and employment base of the Paris area for the long term interest and benefit of the City and its 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 zone (the "Reinvestment Zone"); and 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, as is shown in the print-out from the Office of the Governor of the State of Texas on its website in Exhi i 1, attached hereto and made a part hereof for all purposes; and WHEREAS, Owner has agreed to install the equipment and machinery ("Business Personal Property" or "BPP") set forth herein at the existing facility located on the Property, for the purpose of manufacturing and packaging of sweeteners and sugars via the installation of specialized, high-speed equipment, packaging lines, and ancillary equipment; and WHEREAS, the Owner has agreed to create and maintain at least thirty-five (35) 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 of operation; and WHEREAS, the contemplated use of the BPP as herein 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 the ordinance creating such Enterprise Zone adopted by the City and all applicable laws; and