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unp <br />) Economic Qualitication. In order to be eligible to receive tax abatement, the planned <br />ments: <br />1) Must be reasonably expected to increase the appraised value of the Property; <br />2) Must be expected to prevent the loss of employment, or the retention or <br />creation of Jobs in the City during the term of the agreement; <br />3) Should not be expected to solely or primarily have the effect of inerely <br />transferring existing employment from one part of the City to another without <br />demonstration of increased future investinent (DoIlars or Jobs) or unusual <br />circumstances whereby without such a move employment is likely to be reduced; <br />4) Must be necessary because capacity cannot be provided efficiently utilizing <br />existing improved Property when reasonaUle allowance is made necessary <br />` improvements or relevant governmental actions. <br />Taxability. During the term of the aa eement, taxes shall be payable as follows: <br />1) The Base Year of eligible property.as determined each year by the Lamar <br />County Appraisal District sha1.1 be fully taxable; and <br />2) The additional value of elib ble property above the Base Year Value shall be <br />taxable in the mansler described in the agreement. <br />The Chief Appraiser of the Lamar County Appraisal District shall annualJy determine an <br />asses ent of the Real and Personal Property comprising the Reinvestnent Zone. Each year, - <br />the E loyer, the company or individual receiving abatement pursuant to an agreement shall <br />furrLis the assessor with such information as may be necessary to determuze the amount of any <br />abate ent. Once such value has been established, the Chief Appraiser shall notify the affected <br />jurisdi tions which levy taxes on such Property and the Paris Economic Development <br />The Employer, owner or lessee of eligible Property requesting tax abatement within a <br />Reinv tment Zone shall, prior to the commencement of eligible property improvements, agree <br />to exp nd a designated sum of money and to create or retain a certain number of Jobs, or <br />annua payroll as further defined below. <br />V. T Abatement for Real Property; Creation of Jobs: <br />Tax a atement may be made available to Employers creating Jobs with respect to an Authorized <br />Facili located anywhere within the City or its extra territorial jurisdiction based on the <br />