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<br />GUIDELINES AND CRITERIA <br />FOR REINVESTMENT ZONES AND TAX ABATEMENT AGREEMENTS- <br />FOR THE CITY OF PARIS, TEXAS <br /> <br />1. DEFINITIONS <br /> <br />(a) "Abatement" means the full or partial exemption <br />from ad valorem taxes of certain real and tangible personal <br />property in a Reinvestment Zone designated for economic devel- <br />opment purposes. <br /> <br />(b) "Agreement" means the written agreement for tax <br />Abatement between a property owner and/or lessee and the city. <br /> <br />(c) "Base Year Value" means the assessed value of <br />eligible property as of January 1 preceding the date of execution <br />of the Agreement plus the agreed upon value of eligible property <br />improvements made after January 1 but before the execution of the <br />Agreement. <br /> <br />(d) "Manufacturing Facility" means buiidings and <br />structures, including fixed machinery and equipment, the primary <br />purpose of which is or will be the manufacture of tangible goods <br />or materials or the processing of such goods or materials by <br />physical or chemical change. Facilities primarily engaged in <br />assembling component parts of manufactured products are also <br />considered manufacturing facilities. <br /> <br />(e) "Modernization" means the replacement and up- <br />grading of existing facilities which increases the productive <br />input or output, updates the technology or substantially lowers <br />the unit cost of operation. I1odernization may result from the <br />construction, alteration or installation of buildihgs, struc- <br />tures, fixed machinery or equipment, but shall not be for the <br />purpose of reconditioning, refurbishing, repairing, or deferred <br />maintenance. <br /> <br />(f) "Other Basic industry" means buildings and struc- <br />tures, including fixed machinery and equipment, not elsewhere <br />described, used or to be used for the production of products or <br />services which result in the creation of new permanent full-time <br />jobs and bring new wealth into the community. . <br /> <br />(g) "Regional Distribution Facility" means buildings <br />and structures, including fixed machinery and equipment, used or <br />to be used primarily to receive, store, service or distribute <br />goods or materials where a majority of the goods or services are <br />distributed to points at least 100 miles from its location in the <br />city. <br /> <br />jmw3:373a/cg1 <br />041090-1 <br /> <br />-1- <br /> <br />EXHIBIT A <br />