2013-011 RES APPROVING AND AUTHORIZING TAX ABATEMENT AGREEMENT WITH CAMPELL SOUP

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m} "Property" means Rea� Property or Personal Property defined herein, as is applicabie accordirtg to the context where used herein, that is eligible for tax abatement. n) "Reai Property" means the land within an Enterprise Zone or a Reinvestment Zone, together with aJ l improvements and fixtures constructed or otberwise situaied thereon. o) "Regional Distribution Facility" means buildings and structures, including fixed machinery and equipment, used or to be used primarity to receive, store, service, or distrihute goods or materials where a majority of the goods or services are distributed to points at least ] 00 miles frorn its lacation in the City. p) "Regional Tourist Entertainment Facility" means buildings and structures, including fixed machinery and equipment, used or to be used in providing amusement/enteriainment through the admission of the general public where the majority of users reside at Ieast 100 miles from the City and where the majority of users are likeIy to stay in the City for more than one day and vs�ill therefore likely utilize locai restavrants and hotet/moteI accommodations. q} "Reinvestment Zone" is an area where the Ciiy or County has decided to infIvence development pariems and attract major investments that wi11 contribute to the developmeni of the area through the use of tax abatement for specified improvements. r) "Research Facility" means buildings and siructures, including fixed machinery and equipment, used or to be used primarily for research ar experimentation ta improve or develop new tangible goods or materials or to improve ar develop the productian processes thereto. s) "Tax Abatement Committee" means the corrtmittee of persons designated from time to time by the Paris Economic Deve[opment Corporation to siudy, review and recommend tax abatement to the applicable taxing entities in the community. 7fie Tax Abatement Committee will be composed of one pers�n fram each of the City (the City Manager or designee}, the County of Lamar {the County Iudge or designee}, Paris Junior Coilege (the President or designee), the Chief Appraiser of the Lamar County Appraisa! District, and the Executive Director of the Paris Economic Development Corporation. ii1. Aesignation af a Reinvestment Zone. The City or County may designate an area as a Reinvestment Zone in accordance with the criteria and procedural requirements set forth in the Property Redevelopment & 7"ax Abatement Act, as amended �'I'exas Tax Cade Sec. 312.40i (b)). For any area within the jurisdiction of the City to be eligible far tax abatement it must meet the criteria for designation as a tax abatement Reinvestment Zone as set forth in the Property Redevelopment and Tax Abatement Act, Texas Tax Code Chapter 3] 2.