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ORDINANCE NO. 2004-055 AN 0 RD IN AN CE OF THE CITY CO UN CIL OF THE CITY OF PARIS, PARIS, TEXAS, AMENDING CHAPTER THIRTY TO THE CODE OF ORDINANCES, ENTITLED TAXATION, TO REPEAL THE EXISTING ARTICLE IV THERETO, ENTITLED "TAX ABATEMENT," AND ADOPTING A NEW ARTICLE IV THERETO, ENTITLED "T AX EXEMPTION FOR RISTO RI CAL STRUCTURES"; PROVIDING FOR AN EXEMPTION OF THE INCREASE IN THE ASSESSED VALUE OF CERTAIN PROPERTIES FOR TAX PURPOSES WHICH ARE REPAIRED, RENOVATED, OR REHABILITATED AND ARE LOCATED IN AREAS OF THE CITY DESIGNATED AS HISTORIC DISTRICTS PURSUANT TO THE CITY'S HISTORIC PRESERVATION ORDINANCE AND THE CITY'S ZONING ORDINANCE; ESTABLISHING GUIDELINES AND CRITERIA FOR TAX EXEMPTION; PROVIDING A REPEALER; PROVIDING A SEVERABILITY CLAUSE; PROVIDING A SAVINGS CLAUSE; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris, in an effort to preserve, protect, and enhance the historical character and heritage of Paris, adopted Ordinance No. 2002-033 on August 1, 2002, am~nding Chapter 7 of the Code of Ordinances of the City of Paris to adopt a new Article VII, Section 7- 151 through 7-164 thereto, entitled Historic Preservation, which, among other things, established the Paris Historic Preservation Commission and authorized the designation of historic landmarks and districts within the City; and, WHEREAS, on January 30, 2003, the City of Paris was designated by the United States Department of Interior as a Certified Local Government under the provisions of Section 101 (c) of the National Historical Preservation Act; and, WHEREAS, the City Council of the City of Paris adopted Ordinance No. 2003-019 on May 8, 2003, which amended the City's Zoning Ordinance to create a Historic District designation within the City's Zoning Ordinance for properties identified as historical structures, areas, and landmarks within the City; and, WHEREAS, Article VIII, Section I-F of the Texas Constitution and Section 11.24 of the Texas Property Tax Code enable the City of Paris to exempt from taxation part or all of the assessed value of certain historically significant sites in need of tax relief to encourage their preservation; and, WHEREAS, the City Council of the City of Paris finds such tax relief is needed to encourage the preseryationof historic structures and sites within designated historic districts of the City of Paris; and, WHEREAS, the City Council also finds that such tax relief will provide economic incentive to develop projects in historic buildings worthy of preservation; NOW, THEREFORE, -1-