Laserfiche WebLink
6. The City Council of the City of Paris may call a public hearing to consider establishment of a <br />tax abatement reinvestment zone. The amount and length of abatement may vary among tax <br />abatement reinvestment zones approved by the City Council. <br />7. The Paris City Council may hold a public hearing to determine whether the project is feasible <br />and would be of benefit to the land to be included in the zone and to the municipality. <br />8. The Paris City Council may consider adoption of an ordinance designating the Project area as a <br />tax abatement reinvestment zone. <br />9. The City Council may consider adoption of a resolution or ordinance approving the terms and <br />conditions of a contract between the City and the applicant governing the provision of a tax <br />abatement. <br />10. The governing bodies of Lamar County, Texas and Paris Junior College may consider <br />ratification of and participation in the tax abatement agreement between the City of Paris and <br />the applicant. <br />(c) Review Criteria : <br />It is understood that much of the information provided in the application will be, out of necessity, <br />estimates only. The applicant should endeavor to provide the most accurate estimates possible <br />based upon available information. The applicant may be requested by the Paris Economic <br />Development Corporation ar City to describe the logics/methodologies to be utilized and to supply <br />supporting documentation that substantiates the economic feasibility of the overall project and <br />assists in determining the long-term benefit to the City. The applicant, if requested by the PEDC <br />or City, may be asked to provide the following information and estimated projections to the City. <br />(1) Employmentlmpact <br />The number of new jobs to be created in the City or existing jobs to be retained. <br />(2) Proposed lmprovements <br />Identification and description of the kind, number and location of all proposed <br />improvements to the property, as well as the land area and cost, accompanied by a <br />discussion of the development schedule far the proposed improvements. The City also <br />may request the square footage of the proposed project. <br />Identification/description of any infrastructure improvements that applicant will ask <br />City to provide to serve the proposed project and the estimated cost of these <br />improvements. <br />(3) Fiscallmpact <br />The amount of ad valorem taxes and sales tax to be generated by this project. <br />5 <br />13O <br />