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<br /> <br /> <br /> <br /> <br /> <br /> EXHIBIT C <br /> <br /> Local Business Incentive; Transfer of City-Owned Land <br /> <br /> 1. Proposed Incentive: <br /> <br /> The City of Paris proposes offering the transfer of city-owned land in the enterprise zone <br /> 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 at <br /> below market prices. The ability to purchase city-owned land in the enterprise zone at <br /> below market value shall be based upon the extent to which the business receiving the <br /> property creates jobs for qualified employees, as shown below. <br /> <br /> A. Economic Development Policy <br /> <br /> 1. Objective Requirements. <br /> <br /> a. The business must have a minimum of 10 new full-time positions, <br /> with full-time being defined as at least 1820 hours annually, or <br /> <br /> b. Add at least $100,000 ad valorem value to the current value of the <br /> property. <br /> <br /> c. Must make 1,000 points of a new industry or 250 points if existing <br /> industry making an expansion. Points are awarded in the following <br /> manner: <br /> <br /> 1) Locating in an abandoned building - 200 points. <br /> <br /> <br /> 2) For each newly created full-time position on the payroll - 7 <br /> points. <br /> <br /> 3) For each newly created full-time position on the payroll that <br /> is occupied by a handicapped or economically disadvantaged <br /> person - an additional 7 points to the already awarded 7 <br /> points. <br /> <br /> 4) For each $10,000.00 in capital investment generated - 10 <br /> points. <br /> <br /> 5) For each $20,000.00 in annual payroll - 5 points. <br />