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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />7-23-12 <br />Council Date: <br />Legal <br />W. Kent McIlyar <br />12. <br />8-13-12 <br />City Attorney <br />RECOMMENDED MOTION: <br />Motion to approve a resolution authorizing the City to become eligible to participate in Tax Abatements <br />under Chapter 312 of the Texas Tax Code and ratifying and approving the existing Guidelines and <br />Criteria for Granting Tax Abatements in the City of Paris. <br />PoLICY ISSUE(s): <br />Economic Development <br />BACKGROUND: <br />On June 25, 2012 and July 13, 2012, the City Council discussed whether to adopt a new policy with revised <br />guidclines and criteria for evaluating tax abatement applications. Upon recommendarion of PEDC and <br />request by, Paris JunioY College and Lamar Counry the City Council decided to re-adopt the existing <br />guidelines and criteria for tax abatement agreements which have been in use for the last six years. <br />The attached Resolution will foYmally notifv the State ComptYOller's Office of the City's intent to participate <br />in tax abatement and will ratify and adopt the existing guidelines and cYiteria foY tax abatement agreements <br />for the next two )Tears. <br />BOARD/ COMMISSION RECOMMENDATION: <br />Nc~NF <br />EXHIBITS: <br />Resolution and Guidelines and Criteria for Granting Tax Abatements <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$ <br />❑ Department Report Z Resolution <br />Budgeted Amt. <br />$ <br />❑ Presentation ❑ Ordinance <br />yTD Actual <br />$ <br />❑ Public Hearing ❑ Other <br />Acet. Name <br />Acct. Number <br />FISCAL NOTES: <br />None <br />City of Paris 51 Revised 6/20/12 <br />