08-A Tax Abat Agree-Paris Wareh - Laserfiche WebLink

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THE STATE OF TEXAS ) ) COUNTY OF LAMAR ) TAX ABATEMENT AGREEMENT This agreement is entered into by and between the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below, hereinafter called CITY, and PARIS WAREHOUSE 107, INC., acting by and through its authorized officer whose signature appears below, hereinafter referred to as OWNER. WITNESSETH: WHEREAS, the City Council of the City of Paris did heretofore, on the 22nd day of September, 2004, in Resolution No. 2004-164, elect to be eligible to participate in tax abatement agreements in order to maintain and enhance the commercial and industrial economic and employment base of the Paris area for the long term interest and benefit of the City and its citizens; and, WHEREA5, the City Council of the City of Paris did heretofore, on the 22nd day of September, 2004, in Resolution No. 2004-165, pass and adopt a policy on tax abatement incentives; and, WHEREAS, the policy on tax abatement incentives constitutes appropriate guidelines and criteria governing tax abatement agreements to be entered into by the CITY as required by the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, the City Council of the City of Paris did heretofore, on the 7th day of October, 2004, pass Ordinance No. 2004- , establishing Reinvestment Zone No.10 in the City of Paris, hereinafter called CITY, for commercial and industrial tax abatement, hereinafter referred to as ORDINANCE, as authorized by the Property Redevelopment and Tax Abatement Act, as amended, being V.T.C.A. Tax Code, Chapter 312; and, WHEREAS, the contemplated use of the property, as hereinafter defined, the contemplated improvements to the property in the amount as set forth in this AGREEMENT, and the other terms hereof are consistent with encouraging development of said Reinvestment Zone No. 10 in accordance with the purposes for which it was created and are in compliance with the CITY's policy on tax abatement incentives and the ordinance creating such reinvestment zone adopted by the CITY and all applicable laws; NOW, THEREFORE, The Parties hereto do mutually contract and agree as follows: TAX ABA1'EMENT AGREEMENT - Page 1