14-MOTION TO APPROVE RES AUTHORIZING CITY TO BECOME ELIGIBLE TO PARTICIPATE IN TAX ABATEMENTS UNDER CHAPTER 312 OF TX TAX CODE

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CITY OF PARIS, TEXAS GUIDELINES AND CRITERIA FOR TAX ABATEMENTS JUNE 2012 Section 1. General Purpose And Objectives The City of Paris, Texas (hereinafter referl-ed to as the "City"), is committed to the promotion of high-quality development in all parts of the City, and to an ongoing improvement in the quality of life for its citizens. Insofar as these objectives are generally served by the enhancement of the tax base and expansion and diversification of the local economy, the City will, on a case-by-case basis, give consideration to providing tax abatement, pursuant to the Texas Property Redevelopment and Tax Abatement Act, Chapter 312 Texas Tax Code, as from time to time amended, as a stimulus for economic growth and diversification in the City. Consideration will be given to both new facilities and structures and for the expansion or modernization of existing facilities and structures. Proposed abatement agreements will be considered in accordance with the guidelines, criteria and procedures outlined in this document. Nothing herein shall suggest or imply that the City is under any obligation to provide tax abatement in any amount or value to any applicant. All applicants shall be considered on a case-by-case basis. Section 2. Definitions. (a) Act- means the Property Redevelopment and Tax Abatement Act, Texas Tax Code Ann. § 312.001 et. seq., as amended from time to time. (b) Agreement - means a contractual agreement not to exceed ten (10) years between a property owner and a]essee (if necessary) and the City for the purposes of tax abatement. (c) Ap licant - means an owner of real property located in a Reinvestment Zone who requests tax abateinent in accordance with these guidelines. (d) City - means the City of Paris, Texas. (e) Eligible Pronerty - means real property located within a Reinvestment Zone or real property located in a Historic District or Historically Designated Property and/or tangible personal property located on the real property which is eligible for tax abatement under the Act. The Eligible Property inay not be in an improvement project financed by tax increinent bonds. (f) Expansion - means the addition ar enlargement of buildings, structures, fixed machinery or equipinent far the purposes of increasing production capacity. (g) Ineligible Propertv - means property not eligible for tax abatement under the Act, including without limitation inventories, supplies, or property owned or leased by a 1