2012-072 RES AUTHORIZING CITY TO BECOME ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT

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4) A list of the number and type of Jobs created, including information pertaining to anticipated job transfers; 5) A metes and bounds description and plat of the proposed Reinvestment Zone that shows all roadways within 200 feet of the Reinvestment Zone and all existing zoning and land uses within 200 feet of the Reinvestment Zone; 6) A time schedule for undertaking and completing the proposed improvements; 7) The type and value of any economic development incentives requested; and 8) Any other information about the proposed project as may be required by the City or as deemed desirable by the City. c) Review. Once the application has been received, the information submitted will be reviewed by the Tax Abatement Committee for completeness and accuracy. The Committee will then distribute the application to the appropriate deparhnent heads and taxing entities for review and comment. In addition, no tax abatement application shall be considered for further processing by the governmental entities unless first approved by the governing board of the Paris Economic Development Corporation. d) Public Hearing. The City will comply with certain public notices and hearings required as mandated by state law under the Property Redevelopment and Tax Abatement Act prior to the designation of a Reinvestment Zone and execution of a tax abatement agreement. The City may adopt an ordinance designating a tax abatement Reinvestment Zone only after notice of a public hearing has been published at least seven (7) days before the date of the hearing, and all other procedural requirements of Chapter 312 of the Texas Tax Code have been satisfied. e) Findings. In order to enter into an agreement, the City must find that the terms of the proposed agreement comply with these Guidelines and Criteria, that there will be no substantial adverse affect on the provision of City services or tax base, and that the planned use of the Property will not constitute a hazard to public safety, health or morals. Incident to approval of any ordinance designating a Reinvestment Zone, the City shall find that the improvements sought are feasible and practical and would be a benefit to the land to be included in the Reinvestment Zone and to the City after the expiration of the agreement. fl Variances. Requests for variance from the provisions of these Guidelines may be made in writing to the City; provided, however, that in no event shall the term of any abatement exceed the period authorized by applicable state law. Such request shall include a complete description of the circumstances requiring a variance. Approval of a request for variance shall require the affirmative vote of three-fourths (3/4) of the members of the City Council.