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07-B Ord. Creat Reinvestment
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07-B Ord. Creat Reinvestment
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Last modified
8/29/2012 3:08:56 PM
Creation date
9/30/2004 2:17:49 PM
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AGENDA
Item Number
07-B Reinvest Zone
AGENDA - Type
ORDINANCE
Description
Reinvestment Zone No. 10 Ord Paris Warehouse 107
AGENDA - Date
10/11/2004
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Paris, and third from within the County of Lamar, State of Texas, subj ect to the laws <br />and regulations of the United States of America and the State of Texas and subject <br />to any labor contracts currently in effect and any successive contracts or past <br />practices; and, <br />fl Not include property that is owned or leased by a member of the City Council of the <br />City of Paris nor by a member of the Planning and Zoning Commission; and, <br />g) Conform to all the requirements of the City's zoning ordinance; and, <br />h) Be consistent with the comprehensive plan of the City of Paris. <br />Section 6. That written agreements with the property owner(s) located within the zone shall <br />include, but not be limited to, the following terms: <br />a) the Base Year Value; <br />b) percent of increased value to be abated each year; <br />c) the commencement date and the termination date of Abatement; <br />d) amount of investment and average number of jobs involved during the term of the <br />Agreement; <br />e) the proposed use of the facility, nature of construction, time schedule, plat, property <br />description, and improvement list, as provided in the Application; <br />fl a listing of the kind, number, location, and costs of all proposed improvements of the <br />property; <br />g) a statement limiting the uses of the property consistent with the general purpose of <br />encouraging development or redevelopment of the zone during the period that <br />property tax exemptions aze in effect; <br />h) that access to the project be provided to allow for the inspection by City inspectors <br />and officials in order to ensure that the improvements or repairs are made according <br />to the specifications and conditions of the agreement; <br />i) that property tax revenue lost as a result of the tax abatement agreement will be <br />recaptured by the City if the owner of the property fails to make the improvements <br />or repairs as provided by the agreement; <br />j) each term agreed to by the owner of the property; <br />k) a requirement that the owner of the property shall certify annually to the City Council <br />
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