2006-048-RES-Tax Abatement Warehouse 107

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RESOLUTION NO. 2006-048 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH PARIS WAREHOUSE 107, INC.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction as authorized by the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, the City Council has been presented a proposed agreement by and between the City of Paris, Paris, Texas, and Paris Warehouse 107, Inc., providing for a commercial and industrial tax abatement for certain improvements, a copy of which is attached hereto and incorporated herein by reference hereinafter called "AGREEMENT"; and, WHEREAS, on the 27th day of March, 2006, a public hearing was held, and the City, at such public hearing, invited any interested person to appear and speak for or against the requested tax abatement for Paris Warehouse 107, Inc., identified as Tax Abatement No. 13; and, WHEREAS, upon full review and consideration of the AGREEMENT, and all matters attendant and related thereto, the City Council is of the opinion that the terms and conditions thereof should be approved, and that the Mayor should be authorized to execute it on behalf of the City of Paris; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the terms and conditions of the proposed AGREEMENT between the City of Paris and Paris Warehouse 107, Inc. (Tax Abatement No. 13), having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things, approved. Section 3. That the Mayor is hereby authorized to execute the AGREEMENT and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the AGREEMENT. Section 4. That the terms of the Tax Abatement Agreement and the property the subject thereof meet the Guidelines and Criteria heretofore adopted by the City of Paris by Resolution No. 2006-042, passed March 13,2006.