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<br /> <br /> <br /> <br /> <br /> <br /> zone as set forth in the Property Redevelopment and Tax <br /> Abatement Act, as amended, in that it is "reasonably <br /> likely as a result of the designation to contribute to <br /> the retention or expansion of primary employment or to <br /> attract major investment in the zone that would be a <br /> benefit to the property and that would contribute to the <br /> economic development of: the City"; and, <br /> e) That the reinvestment zone located within said <br /> Zone Two-A meets the City's policy on guidelines and <br /> criteria for the creation of a tax abatement <br /> reinvestment zone and eligible for tax abatement. <br /> §3: That pursuant to the Property Redevelopment and Tax <br /> Abatement Act, as amended, the City hereby creates a <br /> reinvestment zone for commercial and industrial tax abatement <br /> encompassing only the area described in the shaded areas A, <br /> B. D and D in Exhibit B and such reinvestment zone is hereby <br /> designated and shall hereaft:er be referred to as Reinvestment <br /> Zone No. Two-A of the City af Paris, Texas. <br /> §4: That the zone shall take effect ori Uctober 15, 1992, and <br /> shall remain designated as a commercial and industrial <br /> reinvestment zone for a per-iod of five (5) years from such <br /> date of designation. Pr:ior to or upon such date of <br /> expiration the City Council. may renew such designation for <br /> additional successional period not exceeding two (2) years; <br /> provided, no agreement may be extended beyond ten (10) years <br /> from the date of the origirial agreement. <br /> g5: That to be considered for execution of an agreement for <br /> tax abatement the commercial and industrial project shall: <br /> a) Be located entirely within the designated zone; <br /> <br /> b) Create at least fifty (50) or more jobs and to <br /> promote among equally qualified job applicants the <br /> hiring ot employees from the enterprise zone, City of <br /> Paris, and Lamar County, Texas, subject to the laws and <br /> regulations of the United States of America and the <br /> State of Texas and subject to any labor contracts <br /> currently in effect and any successive contracts or past <br /> practices; <br /> c) Have a minimum expenditure of $1,000,000.00 for the <br /> proposed improvements or repair; <br /> d) Not include proper.ty that is owned or leased by a <br /> member of the City Council of the City of Paris nor by a <br /> member of the Planning and Zoning Commission; and, <br /> <br /> e) Conform to all t-he requireIIâ–ºents of the City's <br /> zoning ordinance. <br /> 96: That written agreements with the property owner located <br /> within the zone shall provide for the tollowing: <br /> <br /> a) Terms regarding the amount and duration of the tax <br /> exemption; <br /> b) A listing of the kind, number, location and costs <br /> of all proposed improvements ot the property; <br /> <br /> c) That access to the praject be provided to allow for <br /> the inspection by City inspectors and officials in order <br /> to ensure that the improvements or repairs are made <br /> according to the specifications and conditions of the <br /> agreement; <br />