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E~HIBIT C <br />CTTY OF PARIS, TEXAS <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES <br />FORTAX ABATEMENT <br />1. <br />and <br />empio <br />will gi <br />law to <br />` Evalua <br />, abateir <br />any ap <br />II. <br />owner <br />Facili <br />prec( <br />prop <br />Base <br />Purpose and Objectives. <br />te City of Paris, Texas (herein called the "City") is committed to enllancing the <br />veness and the expansion potential of the City's manufacturing indu5try: to ath acting <br />uraging new manufacturing industry and investment; to improving the City and its <br />:ture which atlsacts and supports development; and, to eapaizcLing the ta-x hase, <br />Lent opportustities, and the overall qualitY of life for its citizenry• Therefore, the City <br />consideration, on a case-by-case basis, to providing tax abatement according to state <br />e owners of real property for projects which stimulate economic growth and <br />:ation in the City. <br />abatement benefits may be made available to industrial, manufacturing, <br />i, and service facilities currently in the City or locating in the City if located in a <br />Enterprise Zone or Reinvestment Zone. New facilities and structures as well as the <br />will be considered. <br />and moderriization of existing facilities and structures, <br />of a tax abatement request wilt be based on the information provided in the tax <br />application. However, the City is under no obligation to provide tax abaternent to <br />ant. <br />a) "Abatement" or "abatement" means "tax abatement", which is the full or partial <br />aon from ad valorem taxes of certain real and tangible persanal property in a <br />stment Zone designated for economic development purposes. <br />b) "Agreement" means the written ab eement for tax abatement between a property <br />and/or lessee and the City. <br />c) "Authorized Facility". A facility may be elib ble for abatement if it is a Manufacturulg <br />a Research Facility, a Rec,,ional Distribution Facility, a Regional Touri.st Entertauvnent <br />~ or Other Basic Industry (all of which terms are defined below); or if the facility is a <br />ic Properfy defined in Section N(b) below within a City of Paris Historical District. <br />d) "Base Year Value" means the.assessed v~u e the a~reeld upo e alue of eligible 1 <br />iing the date of execution of the agreement pl g <br />rty improvements made after January 1, but be~o~re~~ear to year as pe r end tions by he <br />!ear Value may be adjusted either up or down Y <br />r County Appraisal District. <br />