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

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e) If a newly created business is located or v�rill locate within an Enterprise Zone, an additional l0 to 20% abatement ma}� be available as individvally negotiated, with totaS abatement not to exceed 100%. VII. Tax Abatement for Exis#ing Emptoyers Regarding Real or Personal Property. The City recognizes the value of its existing Employers to the well-being of the community and desires to encourage e�isting Employers to remain in the City and to improve their respective businesses and industries, as well as their profitability_ Accordingly, if an existing Employer {as opposed to a newly created business or industry moving into the City}, owns or leases an Authorixed �acility and has plans to improve such Property by constructing new improvements on its Real Property and/or adding new Personal Property io it� Authorized Facility which qualify for tax abatement under these Criteria and Guidelines, such Bmployer may be eligible for tax abaiernent wi#h respect to snch improvements to its Real Property or its new Personal Froperty under the provisions of Art'rcle V and N above, even if no new Jobs or I�lewly Created Minirnum Annual Payroll are created. in these cases involving existing Bmployers, the criteria for tax abatement for improvements to Real Property at Authorized Facilities are identica3 io ihat set forth in Article V above (except that no new Jobs or Newly Created Minimum Annual Payroll are required); and the criterza for tax abatement for new Personal �'roperty added to Authorized Facilities are identical to that sef forth in Article VI above (except that no new 3olss or Newly Created Minimum Annuai Payrotl are required). In this regard, however, the Ciiy encourages existing Employers to retain as m�ny Jobs and as much existing Annual Payroll as is ecanomically feasible for ttie existing Employer to do and remain competitive in its industry. VII�. Application. a} Eligibility. Any present or potential owner of taxable property in the City may request tax abatement by filing a written request with the City Manager or County Judge, with a copy of the said applscation to be forwarded by the applicant to the Executive Director of the Paris Economic Development Corporation. b) Form. The application shall consist of a completed application form accompanied by the following items: l) A general description of t.�e improvements to 6e undertaken together with the projected new value to the Property and the type of business operation proposed; 2} A detaiied descriptive list of the improverrtents for which abatement is requested; 3) A list af the kind, number, and laeation of all proposed improvements of the Property;