14 - Huhtamaki Tax Abatement Agreement

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34!4% /& 4%8!3 ) ) #/5.49 /& ,!-!2 ) 4!8 !"!4%-%.4 !'2%%-%.4 This Tax Abatement Agreement (the “Agreement”) is entered into by and between the #)49 /& 0!2)3Ǿ 4%8!3, a municipal corporation, situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called “City”), and (5(4!-!+)Ǿ ).#ȁǾ a corporation formed under the laws of the State of Kansas, 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, 7(%2%!3Ǿ 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 7(%2%!3Ǿ Owner owns certain property located at 800 Center St., 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 %·§¨¡¨³ ΐ, attached hereto and made a part hereof for all purposes; and WHEREAS, Owner operates a facility (“Facility”) on the Property at which it manufactures folding cartons for the foodservice industry; and 7(%2%!3Ǿ Owner has agreed to make or cause to be made a significant investment in real and personal property improvements, including the installation of equipment, (“Improvements”) in connection with its expansion of said Paris, Texas Facility; and 7(%2%!3Ǿ in connection with that expansion, the Owner anticipates adding a minimum of seventy-eight (78) new full-time equivalent employment positions with benefits to its existing work force over the life of the abatement period; and 7(%2%!3Ǿ the contemplated Improvements 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 1