2008-104-RES-Adopting and extending the policy statement criteria and guidelines for tax abatements for an additional two years, and approving and authorizing tax abatement agreement with campbell soup for a new juice line at the paris plant.

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tax abz for in PR( due Jan $13 Bui of A ; assessed upon the IMPROVEMENTS and otherwise owed to the CITY shall be abated. abatement shall be an amount equal to one hundred percent (100%) of the taxes assessed the completed value of the IMPROVEMENTS on January 1 st of the year in which this tax ;ment commences (January 1, 2010), with this tax abatement continuing at such percentage ach year during the ten (10) year term of this AGREEMENT. This tax abatement shall be -cordance with all applicable state and local law and regulations or valid waiver thereof; ided that the OWNER shall have the right to protest or contest any assessment of the PERTY, and said abatement shall be applied to the amount of taxes finally deterniined to be is a result of any such protest or contest. For the purposes of this AGREEMENT, the initial ; of the existing real and personal property of the OWNER that is not subject to tax ;ment and which does not include the IMPROVEMENTS (as defined herein) shall be ied to be the value as shown on the tax rolls of the Lamar County Appraisal District as of ary 1 of the year in which this AGREEMENT is executed, said amount being ,516,540.00 (Base Year Value), the same consisting of $14,252,750.00 for Land and iings, and $116,263,790.00 for tangible Personal Property, with $15,764,230.00 of the value ie existing tangible personal property consisting of OWNER'S Cold Blend Line being dy abated through December 31, 2016. The current abatement which is the subject of this ,EEMENT shall extend for a period of ten (10) years beginning January 1, 2010. 7.2 The abatement granted herein shall be subject to and governed by the POLICY ST TEMENT CRITERIA AND GUIDELINES for TAX ABATEMENT, a copy of which is atta hed hereto as Exhibit C, except for the term of years of the tax abatement and the percentage of a atement previously granted to OWNER in this AGREEMENT in Section 7.1 above, which shal be controlling over the term of years and the percentage of abatement. stated in the POLICY ST TEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT. OWNER shall com ly with the requirements of Exhibit C in the performance of this AGREEMENT, save and exc pt that, in the event of a conflict between the requirements of Exhibit C and this AG EEMENT, this AGREEMENT shall control. VIIL No Conflict of Interest 8.1 The OWNER represents and warrants that . neither the PROPERTY nor the IMP OVEMENTS include any real or personal property that is owned or leased by a inember of the ity Council of the City of Paris, Texas or by a member of the Planning and Zoning Co mission of the City of Paris that approved or had any responsibility for the approving this AG EEMENT. IX. Conditions 9.1 The terms and conditions of the AGREEMENT are binding upon the successors and ~ssigns of all parties hereto. its 9.2 It is understood and agreed between the parties that the OWNER, in performing gations hereunder, is acting independently, and the CITY assumes no responsibility or TAX ABATEMENT AGREEMENT - Pase 5