2007-095-RES-Accepting and approving the Paris Economic Development Corporation Budget for the Fiscal year October 1, 2007; to September 30, 2008

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Lamar County — Paris Economic Development Plan Table 1 -2: Incentives Matrix Applied to an Example Company For each criterion, there are a specified number of available points, denoted by the variable weight, which may be earned if established targets are reached. The variable minimum represents the minimum level that must be achieved to qualify for any points, while maximum is the level at which all available points are awarded.3 Numbers falling between minimum and maximum receive a proportionate number of points. If the company falls below minimum for either "primary employer" or "wages to be paid," it will be disqualified from further consideration for incentives. Table 1 -2 shows how the matrix would evaluate the example company described above. The final score is calculated by adding together the points awarded for all criteria, and dividing this number by the total of all available points, with the result expressed as a percentage. For example, in Table 1 -2, the company received 77.7 points and the maximum points available equaled 145, resulting in a score of 53.6 percent (since 77.7/145 = 0.536 = 53.6 %). This information is then compared with a list of available incentives, each of which will be assigned a qualifying score that the company must attain before it is eligible to receive the incentive, as shown in Table 1 -3. 3 The minimum, maximum, and weight values listed here are for example purposes. Actual values will be established by the PEDC Board. Paris Economic Development Corporation Page 41 Example Points Company Maximum Minimum Weight Awarded Primary employer 100% 100% 50% 20 20.0 Wages to be paid 135% 150% 110% 20 14.3 (% of area average) Square feet of building 333 250 500 10 6.7 per worker Floor area ratio 51% 65% 25% 10 6.5 Workers per acre 67 100 25 10 3.3 Wage impact jobs 99 50 10 20 20.0 Real property tax per acre $139333 $24,000 $85000 5 0.4 (current) Real property tax per acre $2607 $24,000 $8,000 20 2.7 (new money) Renovation impact points 0 200% 50% 20 0.0 Pgffoll per acre $3,133,333 $5,230,464 $958,918 10 3.8 Total 145 77.7 For each criterion, there are a specified number of available points, denoted by the variable weight, which may be earned if established targets are reached. The variable minimum represents the minimum level that must be achieved to qualify for any points, while maximum is the level at which all available points are awarded.3 Numbers falling between minimum and maximum receive a proportionate number of points. If the company falls below minimum for either "primary employer" or "wages to be paid," it will be disqualified from further consideration for incentives. Table 1 -2 shows how the matrix would evaluate the example company described above. The final score is calculated by adding together the points awarded for all criteria, and dividing this number by the total of all available points, with the result expressed as a percentage. For example, in Table 1 -2, the company received 77.7 points and the maximum points available equaled 145, resulting in a score of 53.6 percent (since 77.7/145 = 0.536 = 53.6 %). This information is then compared with a list of available incentives, each of which will be assigned a qualifying score that the company must attain before it is eligible to receive the incentive, as shown in Table 1 -3. 3 The minimum, maximum, and weight values listed here are for example purposes. Actual values will be established by the PEDC Board. Paris Economic Development Corporation Page 41