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

Home Browse Search

Paris, Texas Economic Development Corporation POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT APPENDIX A Term �e�inition Abatement or Tax The fuli or partial exemption from ad valorem ta�ces of ccrtain real and tangible personal Abatement ro e in a Reinvestment Zone desi nated for economic develo ment u oses. Agreement or The written legal agreement for tax abatement between a property owner and/or lessee and A reements the Ci of Paris, and also between Lamar Coun and Paris Junior Colle e. Authorized A facility may be eligible for abatement if it is a faciliry used for manufacturing, research, Commercial or regional distribution, regional tourist entertainment, other basic industry, or any primary jobs Industrial Facility creating industry (all terms are defned below). All authorized faciliry definitions include buildings and structures, including fixed machinery and equipment used in operating the facility; AND/OR if the faciliry is a Historic Properiy defined in Section IV (b) within a City of Paris Historical District. Authorized The Ciry of Paris may also designate areas of the City where residential properties may be Residential Facility considered for abatement. The City of Paris will approve their residential abatement olicies, criteria and uidelines se arate from these olicies. See Section IV b. Manufacturing The purpose of which is or will be the manufacture of tangible �oods or materials or Facility the processing of such goods or materials by physicat or chemica] chan�e. Facilities primarily engaged in assembling component parts of manufactured products are also considered manufacturin facilities. Regional Used primarily to receive, store, service, or distribute goods or materials where a Distribution majority of the goods or services are distributed to points at least 100 miles from its Facili location in the Ci of Paris. Regianal Used in providing amusemendentertainment through the admission of the general public Tourist where the majority of users reside at leasl 100 miles from the City and where the Entertainment majority of users are likely to stay in the City for more than one day and will therefore Facili ]ikelv utilize local restaurants and hoteUmotel accommodations. Research Used primarily for research or experimentation to improve or develop new tangible Facili oods or materials or to im rove or develo the roduction rocesses thereto. Other Basic Not elsewhere described, used for the production of products or services which result in Indus the creation of new 'obs and brin new wealth into the Ci _ Primary Jobs Any industry creating "primary jobs" defined as a job that is available at a company for Creating which a majority of the products or services of that company are ultimately exported to lndustry regional, siatewide, national, or international markets infusing new dollars into the local economy, and that meets any one of ceriain enumerated sector numbers of the North American Industry Classification System (NAICS) found in the Development Co oration Act of the State of Texas. Base Year The assessed value of eligible property as of January 1, preceding the da[e of execution of the Value agreement plus the agreed upon value of eligible property improvements made after January 1, but before the execution of the agreement. The Base Year Value may be adjusted either up or down from ear to ear as er renditions b the Lamar Coun A raisal District. Employer The owner or lessee of property, who is applying for tax abatement and who will provide 'obs and ca itai investment within the Reinveshnent Zone or within dle Ente rise Zone. Reinvestment An area where the City or County has decided to influence development patterns and Zone attract major investments that will contnbute to the development of the area throu�h the use of tax abatement for specified improvements. These statues are found in Chapter 312 of the Texas Tax Code. Ente rise Zone An area of land desi ated as such under Cha ter 2303 of the Texas Government Code. Job or Jobs A position of fuli-time employment for an individua] to work 32 hours or more per week for an employer, in which position the individual is provided the benefits normally offered by the employer, such as health insurancc, vacation and some form of retirement benefit. A job is not a position filled for the employer as a worker or employee of an employment agency or service. "Jobs" also includes "Full-time E ui��alent Jobs" defined below.