17-ECONOMIC DEVELOPMENT - AD VALOREM TAX ABATEMENT POLICY

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(h) All improveinents, repairs, development and re-development of the Eligible Property must conform to the City's Comprehensive Zoning Ordinance, Building codes and other applicable ordinances. Section 5. Application and Review Procedures. (a) Application for Tax Abatement: (1) The procedures as hereinafter delineated shall be utilized in the implementation of the tax abatement program for the City of Paris. (2) Tax abatement applicants shall complete and submit an application for economic incentives as prescribed by the Executive Director for the Paris Economic Development Corporation (PEDC). While the specific contents of application inay vary, it is expected that the infonnation requested will include a brief description of the improvement and its economic impact, reveal the precise location of the property, provide a survey and legal description of the project site, provide projected job growth, and provide estimations for the projected capital investinent. (3) Applicants shall complete all information detailed in this document or other material as may be required by the PEDC or City and submit the application and supporting documents to the Executive Director of the Paris Economic Development Corporation, 1625 Bonham Street, Paris, Texas 75460, and to the Paris City Manager, P.O. Box 9037, Paris, Texas 75461-9037. (b) Application Review Steps: (1) All infonnation in the application package detailed above will be reviewed for coinpleteness and accuracy. Additional information may be requested as needed. (2) The application will be distributed to the Board of Directors of the Paris Economic Development Corporation for internal review and comments. Additional infonnation may be requested as needed. (3) Applicant will ineet with Paris Econoinic Development Corporation (PEDC) and the Paris city Manager or his/her designee to discuss details of the application. Additional meetings and proposal presentations inay be scheduled as necessary. (4) The PEDC Board along with the Paris Ciry Manager will consider the application at a regular or called meeting(s) of the board. (5) The findings of the PEDC Board will be forwarded, with all rel3evant materials, to the chief administrative officer of each local taxing entiry. (6) The City Council of the city of Paris may call a public hearing to consider establishment of a tax abatement reinvestment zone. The amount and length of abatement inay vary among tax abatement reinvestment zones approved by the City Council. 4 - 64