2013-016 RES APPROVING AND AUTHORIZING TAX ABATEMENT AGREEMENT WITH JAMES SKINNER CO

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Paris, Texas Economic Development Corporation POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT 3. The amount of the abatement shall be based upon a percentage (0 to 100%) of all or a portion of ihc eligible property within the authorized facility. 4. Abatements may only be granted for the additional value of eli�ible real and personal property improvements made pursuant to and listed in the ageement benveen the City and property owner and/or lessee, subject to such limitations as the City may require. 5. Real property tax abatement may be granted only to the extent that its value for each year of the agreement exceeds its value for the year in which the agreement is executed. 6. If a modernization project includes the replacement of improvements within an authorized facility, the value eligible for abatement shall be the value of the new unit(s), ]ess the value of the re laced unit(s . Abatement The criteria used to evaluate a proposed project application for abatement includes, but is not Evaluation limited to: Criteria l. The dollar amount of the increase in the tax roll. 2. The number of jobs created or retained by the employer involved. 3. The possible effect on attracting other taxable improvements into the City. 4. The nature of, and overall effect on the City. 5. The effect on the safety, health, and morals of the Ciry's residents. 6. Any substantial long-term adverse effect on the pmvision of Ciry services or iis taac base. 7. Meeting all relevant zoning requirements. 8. Consistent with the comprehensive plan of the City or County of Lamar. 9. The types and cost of public improvements and services (water and sewer main extensions, streets and roads, etc.) required of the City. 10. The es and values of ublic im rovements to be furnished b the a licant. Economic To be eligible to receive tax abatement, the planned improvements: Qualification l. Must be reasonably expected to increase the appraised value of the property. 2. Must be expected to prevent the loss of employment, or assist in the retendon or creation of jobs in the Ciry 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 im�estment (dollars or jobs) or unusual circumstances whereby without such a move employment is likely to be reduced. �1. Must be necessary because capaciry cannot be provided efficiently utilizing existing improved property when reasonable allowance is made necessary improvements or relevant overnmental actions. Taxability During the term of the agreement, taxes shal] be payable as follows: 1. The base year of eligible property as determined each yeaz by the Lamar County Appraisal District, shall be fully ta�cable. 2. The additional value of eligible property above the base year value shall be taxable in the manner described in the agreement. 3. The Chief Appraiser of the Lamar County Appraisa] District shall annually determine an assessment of the real and personal property comprisin� the reinvestment zone. 4. Each year, the employer, the company ar individual receiving abatement pursuant to an agreement shall furnish the assessor with such inforrnation as may be necessary to determine the amount of any abatement. 5. Once such value has been established, the Chief Appraiser shall notify the affected jwisdictions, which ]evy ta�ces on sueh property and also notify the Paris EDC. 6. The employer, owner or lessee of eligible property requesting tax abatement within a reinvestment zone shall, prior to the commencement of eligible property improvements, agree to expend a designated sum of money and to create or retain a certain number of jobs, or annual a oll as further de�ned below_