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Paris, Texas Economic Development Corporation <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />Ful[-time A number of part-time jobs where the hours worked in each such job is less than 32 hours <br />Equivalent per week, made available by one employer and added together. For example, sixteen <br />(F7'E) Jobs (IG) part-time jobs made available by one emp(oyer where all such part-time jobs added <br />together require a tota] of 352 hours of work per week {but no such part-time job <br />requires 32 hours of work or more per week), will equal eleven (11) FTE jobs (352 <br />hours divided by 32 hours per week equal ] l). FTE jobs do not require the employee to <br />receive benefits from the em lo er. <br />Modemization The replacement and upgrading of existing facilities, which increases the productive <br />input or output, updates the technology, or substantially lowers the unit cost of <br />operation. Modernization may result from the construction, alteration or installation of <br />buildings, structures, fixed machinery or equipment, but shall not be for the purpose of <br />reconditionin , refurbishin , re airin , or deferred maintenance. <br />Personal MacE�inery, equipment, tools, shelving or materials eligible under applicable law for ta�c <br />Property abatement, which can be removed from an authorized facility described in Section IV <br />a. <br />Pro e Real Pro e or Personal Pro e defined herein that is eli ible for tax abatement. <br />Real Property The land within an Enterprise Zone or a Reinvestment Zone, together with ali <br />im rovements and fixtures constructed or otherwise siivated thereon. <br />Tax Abatement The committee af persons designated from time to time by the Paris Economic <br />Committee Development Corporation to study, review and recommend tax abatement to the <br />applicable taxing entities in the community. The Tax Abatement Committee wiU be <br />composed of one person from each of the City (the City Manager or designee}, the <br />County of Lamar (the County Judge or designee), Paris Junior College (tEte President or <br />designee), the Chief Appraiser of the Lamar County Appraisai District, and the <br />Executive Director of the Paris Economic Develo ment Co oration. <br />!� <br />