96-060 ORD NOMINATING AREA AS ENTERPRISE ZONE PURSUANT TO TX ENTERPRISE ZONE ACT

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ORDINANCE NO. 96-060 AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, NOMINATING AN AREA AS AN ENTERPRISE ZONE PURSUANT TO THE TEXAS ENTERPRISE ZONE ACT (TEXAS GOVERNMENT CODE, CHAPTER 2303); PROVIDING TAX INCENTIVES; DESIGNATING AN AUTHORIZED REPRESENTATIVE TO ACT IN ALL MATTERS PERTAINING TO THE NOMINATION AND DESIGNATION OF THE AREA DESCRIBED HEREIN AS AN ENTERPRISE ZONE AND REINVESTMENT ZONE (TEXAS TAX CODE, CHAPTER 312); AND N'LJRTHER DESIGNATING A LIAISON TO ACT ON ALL MATTERS PERTAINING TO THE ENTERPRISE ZONE ACT ONCE DESIGNATED BY THE TEXAS DEPARTMENT ON' COMMERCE. WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to create the proper economic and social environment to induce the investment of private resources in productive business enterprises located in severely distressed areas of the City and to provide employment to residents of such area; and, WHEREAS, certain coiiditioiis exist in such area which represent a threat to the health, safety, and welfare of the people of such area; and, WHEREAS, it is necessary aiid in the best interest of the City to nominate such area as an enterprise zone pursuant to the Texas Enterprise Zone Act (Texas Government Code, Chapter 2303, the "Act"); NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY Or PARIS: Section l. That the City hereby iiominates the area set forth on and attached hereto as Exhibit A. Section 2. That the City Council finds the zoiie area meets the qualificatiotls of the Act. Section 3. That the City Council will provide certain tax incentives applicable to business enterprises in the zone which are not applicable through the City as follows: The City shall refund to any qualified business located in such enterprise zone the amount of tax paid under the Municipal Sales and Use Tax (Texas Tax Code, Chapter 321) by the business and remitted to the Comptroller of Public Accounts up to the maximum exteiit authorized by Sections 2303.505 and 2303.506 of the Act, and for a period determined by the City, but which shall not exceed 5 years. The City may abate taxes on the increase in value of real property improvements and eligible personal property that locate in a designated enterprize zone. The level of abatement shall be based upon the extent to which the business receiving the abatement creates jobs for qualified employees, in accordaiice with the attached Exhibit B, and with qualified employee being defined by the Act. Other incentives that may be negotiated in the proposed enterprise zoiie on a case by case basis are as follows (the first 3 being offered only in the proposed enterprise zone); Waiver of development fees to enterprise zone businesses meeting minimum standards. Accelerated zoning and permit procedures. Enterprise zone businesses will be processed upon receipt, before non-enterprise zone businesses already in hand. Transfer of city-owned surplus land at below market prices for l