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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />8/8/ 12 <br />Council Date: <br />PEDC <br />Steve Gilbert, Executive Director <br />15. <br />8/13/12 <br />RECOMMENDED MOTION: <br />Move to approve a resolution approving and authorizing a Tax Abatement Agreement with Kimberly- <br />Clark Corporation. <br />POLICY ISSUE(S): <br />Economic Development <br />BACKGROUND: <br />For over 6 months the Paris EDC Board and Staff have been working with the K-C Plant Manager to <br />secure a major capital investment in the Paris plant over the next S years. In 2011 the K-C Paris plant was <br />awarded Enterprise Zone designation by the State of Texas with support of the City Council. Details of the <br />requested Tax Abatement are included in the Resolution and supporting documents. This information has <br />been forwarded to Lamar County Commissioner's Court and PJC Board of Regents for their consideration <br />and approval. <br />Philip Senn, Paris Plant Manager and their Tax Advisors will attend the City Council meeting to present the <br />project and answer any questions during the Public Hearing. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />Resolution and Tax Abatement Agreement <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 />y'I'D Actual <br />$ <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />Acct. Number <br />FISCAL NOTES: <br />City of Paris 67 Revised 6/20/12 <br />~ ~ ~ <br />