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

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4) The nature of the proposed project and its overall effect on the City; 5) The proposed project's effect on the safety, health, and morals of the City's residents; 6) Whether the proposed project will have any substantial long-term adverse effect on the provision of City services or its tax base; 7) Whether the project meets all relevant zoning requirements; 8) Whether the project is consistent with the comprehensive plan of the City or County of Lamar; and 9) The types and cost of public improvements and services (water and sewer main extensions, streets and roads, etc.) required of the City and the types and values of public improvements to be furnished by the applicant. h) Economic Qualification. In order to be eligible to receive tax abatement, the planned improvements: 1) Must be reasonably expected to increase the appraised value of the Property; 2) Must be expected to prevent the loss of employment, or the retention or creation of Jobs in the City during the term of the agreement; 3) Should not be expected to solely or primarily have the effect of inerely transferring existing employment from one part of the City to another without demonstration of increased future investment (Dollars or Jobs) or unusual circumstances whereby without such a move employment is likely to be reduced; 4) Must be necessary because capacity cannot be provided efficiently utilizing existing improved Property when reasonable allowance is made necessary improvements or relevant governmental actions. i) Taxability. During the term of the agreement, taxes shall be payable as follows: 1) The Base Year of eligible property as determined each year by the Lamar County Appraisal District shall be fully taxable; and 2) The additional value of eligible property above the Base Year Value shall be taxable in the manner described in the agreement.