14 - Huhtamaki Tax Abatement Agreement

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#%24)&)#!4% /& #/-0,%4)/. 34!4% /& 4%8!3 § #/5.49 /& ,!-!2 § #)49 /& 0!2)3 § The City of Paris, Texas has executed and delivered a Tax Abatement Agreement (the “Agreement”) dated August 14, 2023, with HUHTAMAKI, INC., for certain improvements and equipment (collectively, the “Improvements”) to be installed on property located in Paris, Lamar County, Texas, said Improvements described in %·§¨¡¨³ ! attached hereto, which property is located within an Enterprise Zone established by the United States Census in 2010. Based on information provided by Company and verified by the City, the City of Paris herein verifies that the Improvements agreed to be installed and used in the calendar year 2023have in fact been completed as providedfor in the Agreementand that the Company has complied with all other terms of the Agreement including those related to employment levels. ./7Ǿ 4(%2%&/2%Ǿ the City of Paris authorizes that the property described in %·§¨¡¨³ ! attached hereto shall receive a tax abatement during each year through the end of the term the Tax Abatement Agreement equal to 100%in years 2025, 2026, and 2027; 75% in years 2028, 2029, and 2030; and 50% in years 2031, 2032, 2033, and 2034, of the taxes assessed upon the increased value of the real and personal property of the Company located in Paris, Texas, over the value at which the property was last appraised on January 1, 2023, which is the year in which the Tax Abatement Agreementwas executed, as recited in the Agreement. The tax abatement will extend for a duration of ten(10)years, with the tax abatement beginning January 1, 2025, and ending December 31, 2034. APPROVED this _____ day of _______________, _____. ____________________________________ ____________________, Mayor ATTEST: ____________________________________ Janice Ellis, City Clerk !002/6%$ !3 4/ &/2-Ȁ ____________________________________ Stephanie H. Harris, City Attorney