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96-060 ORD NOMINATING AREA AS ENTERPRISE ZONE PURSUANT TO TX ENTERPRISE ZONE ACT
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96-060 ORD NOMINATING AREA AS ENTERPRISE ZONE PURSUANT TO TX ENTERPRISE ZONE ACT
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11/20/2017 4:20:14 PM
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4/27/2012 3:34:30 PM
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CITY CLERK
CITY CLERK - Date
10/14/1996
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<br /> <br /> <br /> <br /> <br /> <br /> <br /> EXHIBIT C <br /> <br /> Local Business Incentive; Transfer of City-Owned Land <br /> <br /> l. Proposed Incentive: <br /> <br /> The City of Paris proposes offering the transfer of city-owned land in the enterprise <br /> zone at below market prices for the public purpose of economic development. <br /> <br /> 2. Description of the Incentive: <br /> <br /> The City of Paris has agreed to transfer city-owned land located in the enterprise zone <br /> at below market prices. The ability to purchase city-owned land in the enterprise zone <br /> at below market value shall be based upon the extent to which the business receiving <br /> the property creates jobs for qualified employees, as shown below. <br /> <br /> A. Economic Development Policy <br /> <br /> l. Objective Requirements. <br /> <br /> a. The business must have a minimum of 10 new full-time <br /> positions, with full-time being defined as at least 1820 hours <br /> annually, or <br /> <br /> b. Add at least $100,000 ad valorem value to the current value of <br /> the propertyā€˛ <br /> <br /> c. Must make 1,000 points of a new industry or 250 points if <br /> existing industry making an expansion. Points are awarded in <br /> the following manner: <br /> <br /> 1) Locating in an abandoned building - 200 points. <br /> <br /> 2) For each newly created full-time position on the payroll <br /> - 7 points. <br /> <br /> 3) For each newly created full-time position on the payroll <br /> that is occupied by a handicapped or economically <br /> disadvantaged person - an additional 7 points to the <br /> already awarded 7 points. <br /> <br /> 4) For each $10,000.00 in capital investment generated - <br /> 10 points. <br /> <br /> 5) For each $20,000.00 in annual payroll - 5 points. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 6 <br />
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