2013-036 Approving Guidelines and Criteria for a Residential Tax Abatement Program

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RESOLUTION NO. 2013 -036 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS AUTHORIZING THE CITY TO BECOME ELIGIBLE TO PARTICIPATE IN RESIDENTIAL TAX ABATEMENT AND APPROVING GUIDELINES AND CRITERIA FOR THE RESIDENTIAL TAX ABATEMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, Sec. 312.002 of the Texas Tax Code requires local taxing entities to state their intent to participate in abatement agreements and to adopt guidelines and criteria for granting tax abatements; and WHEREAS, on August 13, 2012 the City Council approved Resolution No. 2012 -072 authorizing the City to participate in Tax Abatement and approving Guidelines and Criteria for Granting Tax Abatements in the City of Paris, Texas; and, WHEREAS, the City Council now desires to participate in residential tax abatement in the City of Paris and has been presented Guidelines and Criteria for a Residential Tax Abatement Program; and, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. The City hereby elects to be eligible to participate in a residential tax abatement program and adopts the Guidelines and Criteria for Residential Tax Abatement Program attached hereto and incorporated herein as Exhibit "A ". Section 3. This resolution shall become effective from and after the date of passage. PASSED AND APPROVED this 14th day of October, 2413 A.J. ATTEST: Q! A to,-)J-4 nice Ellis, City Clerk APPROVED ASTQ FORM: W. Kent McIlyar, Attorney