07-A K-C Tax Abatement Res - Laserfiche WebLink

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., , . . . . ..; . , . "."'-. ..---....-.--..--.-., ,-'. .'.' .- .' -'.' " - - T g) h) I (M r .:: I -:'-.,; F~', 3) the possible effect the proposed project will have on attracting other taXable improvements into the City; 4) the nature of the proposed project and Its overall effect on the community; 5) the proposed project's effect on the safety, health, and morals of the City's residents; 6) whether the proposed project will have any substantial long-term adverse effect on the provision of the City's services or its tax base; 7) whether the project meets all relevant zoning requirements; 8) \vhether the project is consistent with the comprehensive plan of the City of Paris or County of Lamar; and 9) the types and cost of public improvements and services (water and sewer main extensions, streets and alleys, etc.) required of the City and the types and values of public improvements to be furnished by the applicant. Economic Qualification. In order to be eligible to receive tax Abatement, the planned improvements: 1) must be reasonably expected to increase the appraised value of the property; AND 2) must be expected to prevent the loss of employment, retain, or create employment on a permanent, full-time basis in the City during the term of the i\greement; i\ND 3) should not be expected to solely or primarily have the effect of merely transferring existing employment from one part of the City to another without demonstration of increased future investment (Dollars or jobs) or unusual circumstances whereby without such a move employment is likely to be reduced; AND 4) must be necessary because capacity cannot be provided efficiently utilizing existing improved property, even when reasonable allowance is made for necessary improvements or relevant governmental actions. Taxability. During the term of the i\greement, taxes shall be payable as follo\vs: the Base Year Value of eligible property as determined each year shall be 1) -6-