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<br />.. . <br /> <br />". .' , <br />1 . . <br /> <br /> <br />'--:::'\ <br />(:,~ ::::') <br /> <br />~""'. <br />( ""~.' <br /> <br />'. . <br /> <br />, . <br /> <br />I. <br /> <br />T <br /> <br /> <br />'" - - <br /> <br />. -- <br /> <br />. .. <br /> <br />CITY OF PARIS, PARIS, TEXAS' <br />GUIDELINES AND CRITERIA FOR <br />TAX ABATEMENT AGREEMENTS <br /> <br />DEFINITIONS <br /> <br />a) <br /> <br />"Abatement" means the full or partial exemption from ad valorem taxes of certain <br />real and tangible personal property in a Reinvestment Zone designated for economic <br />development purposes. . <br /> <br />b) <br /> <br />"Agreement" means the written agreement for tax Abatement between a property <br />owner and/or lessee and the City. <br /> <br />c) <br /> <br />"Base Year Value" means the assessed value of eligible property as of January 1 <br />preceding the date of execution of the Agreement plus the agreed upon value of <br />eligible property improvements made after January 1 but before the execution of the <br />Agreement. . <br /> <br />d) <br /> <br />"Enterprise Zone" means that area of the City d~signated as an enterprise zone under <br />the Texas Enterprise Zone Act (Texas Government Code Chapter 2303); where a <br />Reinvestment Zone as defined herein is also located in an Enterp!Ïse Zone, the <br />reference to Reinvestment Zone shall be interchangeable with Enterprise Zone. <br /> <br />e) <br /> <br />"Manufacturing Facility" means buildings and structures, including fixed machinery <br />and equipment, the primary purpose of which is or will be the manufacture of <br />tangible goods or materials or the processing of such goods or materials by physical <br />or chemical change. Facilities primarily engaged in assembling component parts of <br />manufactured products are also considered manufacturing facilities. <br /> <br />f) <br /> <br />"Modernization" means the replacement and upgrading of existing facilities \vhich <br />increases the productive input or output, updates the technology, or substantially <br />lowers the unit cost of operation. Modernization may result from the construction, <br />alteration or installation of buildings, structures, fixed machinery or equipment, but <br />shall not be for the purpose of reconditioning, refurbishing, repairing, or deferred <br />. maintenance. <br /> <br />g) <br /> <br />"Other Basic Industry" means buildings and structures, including fixed machinery <br />and equipment, not elsewhere described, used, or to be used for the production of <br />products or services which result in the creation of new, permanent, full-time jobs <br />and bring new wealth into the community. <br /> <br />h) <br /> <br />"Regional Distribution Facility" means buildings and structures, including fixed <br />. machinery and equipment, used or to be used primarily to receive, store, service, or <br /> <br />-3- <br /> <br />EXHIBIT - <br /> <br />I <br />