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a alletizer; and stretch wra er e ui ment. <br />I�centiv� Amount <br />New Jobs and Capital Investment $250,000 <br />Workforce Training 250,000 <br />Total $500,000 <br />i ne raris �i�t_; t�oard has approved the tollowmg cash incentives for this project: <br />STATUS OF ISSUE: <br />The effective date of this abatement agreement will be the 25th day of February 2013. The tax <br />abatement will begin with the tax year commencing January 1, 2014, and expiring on December <br />31, 2020. The project complies with the abatement criteria, policies and procedures adopted by <br />all three local governing bodies (City, County and PJC). <br />BUDGET: <br />Campbell Soup will fund the capital improvements at a cost equal to or in excess of $24,222,812 <br />including acquisition and installation of the building modifications, machinery and equipment, <br />and $2,000,000 in related expenses. <br />This is new capital investment and will not negatively impact existing property tax revenues. <br />Property tax revenue impact: <br />NLISD Taa�es Realized (Years 1-7) <br />Taxes Realized by Jurisdiction (Year 8) <br />City of Paris <br />Lamar County <br />PJC <br />NLISD <br />Total <br />$1,479,625 <br />$ 73,648 <br />59,372 <br />26,909 <br />159,547 <br />$ 319,476 <br />RECOMMENDATION: <br />The Paris Economic Development Corporation recommends approval of the abatement request <br />as follows: <br />7 Year, 100% Abatement Totaling $1,483,172 <br />102 <br />