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<br />CITY OF PARIS, PARIS, TEXAS <br />GUIDELINES AND CRITERIA FOR <br />REINVESTMENT ZONE NUMBER FIVE <br /> <br />I. Purpose and Objective <br /> <br />The City of Paris is committed to the promotion of quality development in all parts of the <br />city and to an ongoing improvement in the quality of life for its citizens. Insofar as these <br />objectives are generally served by the enhancement and expansion of the local economy, the City <br />of Paris will, on a case-by-case basis, give consideration to providing tax abatement incentives as <br />a stimulation for economic development in Paris. It is the policy of the City of Paris that said <br />consideration will be provided in accordance with the procedures and criteria outlined in this <br />document. However, nothing herein shall imply or suggest that the City of Paris is under <br />obligation to provide any incentive to any applicant. All applicants shall be considered on a case- <br />by-case basis. Furthermore, the adoption by the City Council of these guidelines and criteria does <br />not limit the discretion of the City Council to decide whether to enter into a specific. tax abatement <br />agreement; limit the discretion of the City Council to delegate to its employees the authority to <br />determine whether or not the City Council should consider a particular application or request for <br />tax abatement; or create any property, contract, or other legal right in any person to have the <br />governing body consider or grant a specific application or request for tax abatement. <br /> <br />II. Criteria for Tax Abatement Incentives <br /> <br />The following threshold criteria shall be used to determine whether any tax abatement <br />incentives shall be granted: <br /> <br />1) The proposed development or redevelopment must create at least twenty-two (22) <br />or more jobs. Such jobs to be filled with priority being given to promote among <br />equally qualified job applicants the hiring of employees first from within the <br />Enterprise Zone, second from within the corporate limits of the City of Paris, and <br />third from within the County of Lamar, State of Texas, subject to the laws and <br />regulations of the United States of America and the State of Texas and subject to <br />any labor contracts currently in effect and any successive contracts or past <br />practices. <br /> <br />2) An investment of at least $1,800,000.00 in property improvements is required. <br /> <br />3) The project meets all relevant zoning requirements. <br /> <br />In addition to the threshold criteria, the following shall be considered: <br /> <br />1) The project is consistent with the comprehensive plan of the City of Paris. <br /> <br />GUIDELINES & CRITERIA. Page. I <br /> <br />EXHIBIT A <br />