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 APPENDIX B Abatement Agreement Terms and Conditions After approval, the City shall formally pass an order or resolution and authorize the execution of an agreement with the owner and/or lessee ofthe authorized facility, which shall include, but not be limited to the following terms and conditions: Contract Terms & Conditions Project The following project specifics will be included: Description 1. The base year value. 2. Percent of increased value to be abated each year. 3. The eommencement date and the termination date of abatement. . 4. Amount of investment and average number of jobs involved during tl�e term of the agreement. 5. The proposed use of the authorized facility, nature of construction, time schedule, plat, property description, and improvement list, as provided in the application. 6. A listing of the kind, number, location, and costs of all proposed improvements of the property. 7. A statement limiting the uses of the property consistent with the general pwpose of encouraging development or redevelopment of the reinvestment zone during the period that property tax abatement is in effect. 8. That access to the project is provided to allow for the inspecrion by City inspectors and officials in order to ensure that the improvements or repairs are made according to the specifications and condirions of the agreement. 9. That property tax revenue lost as a result of the tax abatement agreement will be recaptured by the City if the owner of the property fails to make the improvements or repairs as provided by the agreement. 10. Each term agreed to by the owner of the property. 11. A requirement that the owner of the property shall certify annually to the Ciry that the owner is in compliance with each applicable term of the agreement. 12. Contractual obligarions in the event of default, violation of terms or conditions, delinquent taxes, recapture, administration and assignment, or other provisions that may be required by state law, or in the discretion of the City Council. 13. That the City may cancel or modify the agreement if the property owner fails to comply with the a reement. Default If the City determines that the person or entity receiving an abatement is in default according to the terms and conditions of its agreement, the City shall notify the company or individual in writing at the address stated in the agreement, and if such default is not cured within a reasonable time specified in such notice ("cure period"), then the agreement may be modified or terrninated without further notice. In the event the company or individual allows its ad valorem taxes owed to the City to become delinquent and fails to time(y and properly follow the legal procedures for their protest and/or contest, or violates any of the terms and conditions of the agreement and fails to cure during the cure period, the agreement then may be modified or terminated without further notice, and the agreement may provide a formula for recapture of all or part of the taxes abated. At any time before the expiration, any t� abatement agteement may be terminated by mutual consent of all arties involved in the same manner that the a ement was executed. Confidentiality Informadon that is provided to a taxing unit in connection with an application or request for tax of Proprietary abatement under these Guidelines and Criteria and that describes the specific processes or business Information activiries to be conducted or the equipment or other properiy to be located on the property for which tax abatement is sought is confidential and not subject to public disclosure until the agreement is executed. Such informarion in the custody of the City after the agreement is executed is not confidential hereunder. Inspections The agreement shall sripulate that employees and/ or designated representatives of the City will have access to the reinvestrnent zone durin the term of the a eement to ins ect the authorized