Laserfiche WebLink
<br />date of operation; and the type and value of any economic development incentives <br />requested. <br /> <br />4) Any other information about the proposed project as may be required by the City <br />or as deemed desirable. <br /> <br />Once the application has been received, the information submitted will be reviewed by the <br />City Manager for completeness and accuracy. The City Manager will then distribute the <br />application to the appropriate department heads for internal review and comments. Following staff <br />review, copies of the complete application package and staff comments will be provided to the City <br />Council and to other taxing entities that may be willing to participate in offering tax abatement <br />incentives. Generally, the City Council, staff and other taxing entities will discuss the proposed <br />application at a work session prior to its formal consideration by the Council. Following the work <br />session, the City Manager may be requested to obtain other information prior to further <br />consideration of the application. <br /> <br />At a subsequent regular City Council meeting, the application for any tax abatement <br />incentive may be considered. The City will comply with certain public notice and hearings are <br />required as mandated by state law under the Property Redevelopment and Tax Abatement Act <br />prior to the designation of a reinvestment zone and execution of a tax abatement agreement. Prior <br />to final approval, all legal documents to effect such reinvestment zone(s) and tax abatement <br />agreement(s) shall be drafted and approved by the City Attorney. <br /> <br />Should the City Council determine that it is in the best interest of the City of Paris to <br />provide tax abatement incentives to a particular applicant, a resolution shall be adopted declaring <br />that, under the guidelines and criteria established herein, the applicant is eligible for tax abatement <br />and that the Mayor is authorized to execute a contract with the applicant, enumerating the type of <br />incentives and governing any conditions applicable to it. Any agreement so adopted must include <br />at least the following specific items: <br /> <br />1) Description of the type of tax abatement to be provided and its duration; <br /> <br />2) Legal description of the property to be designated as a reinvestment zone; <br /> <br />3) Detailed information regarding the type, number, location, and costs of planned <br />improvements; <br /> <br />4) A statement granting the access to and inspection of the property and proposed <br />improvements by City inspectors and officials to ensure that the improvements or <br />repairs are made according to specifications and conditions of the agreements; <br /> <br />GUIDELINES & CRITERIA. Page. 3 <br />