1998-042-RES WHEREAS, CITY COUNCIL DESIRES TO PROMOTE ECONOMIC

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CITY OF PARIS, PARIS, TEXAS GUIDELINES AND CRITERIA FOR REINVESTMENT ZONE NUMBER 5 I. Purpose and Objective The City of Paris is committed to the promotion of quality development in all parts of the city and to an ongoing improvement in the quality of life for its citizens. Insofar as these objectives are generally served by the enhancement and expansion of the local economy, the City of Paris will, on a case-by-case basis, give consideration to providing tax abatement incentives as a stimulation for economic development in Paris. It is the policy of the City of Paris that said consideration will be provided in accordance with the procedures and criteria outlined in this document. However, nothing herein shall imply or suggest that the City of Paris is under obligation to provide any incentive to any applicant. All applicants shall be considered on a case- by-case basis. II. Criteria for Tax Abatement Incentives The following threshold criteria shall be used to determine whether any tax abatement incentives shall be granted: 1) The business must have a minimum of 10 new full-time positions, with full-time being defined as at least 1040 hours annually, or 2) Add at least $100,000 ad valorem value to the current value of the business. 3) Must make 1,000 points if a new industry or 250 points if existing industry making an expansion. Points are awarded in the following manner: a) Locating in an abandoned building - 200 points. b) For each newly created full-time position on the payroll- 7 points. c) For each newly created full-time position on the payroll that is occupied by a handicapped or economically disadvantaged person - an additional 7 points to the already awarded 7 points. d) For each $10,000.00 in capital investment generated -10 points. e) For each $20,000.00 in annual payroll - 5 points. 4) The project meets all relevant zoning requirements. GUIDELINES & CRITERIA. Page 1 .. EXHIBIT A