2013-041 Approving an Economic Incentive Agreement between the Paris Economic Development Corporation and JS Baking, LLC

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RESOLUTION NO. 201 3 -041 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AN ECONOMIC INCENTIVE AGREEMENT BETWEEN THE PARIS ECONOMIC DEVELOPMENT CORPORATION AND THE JAMES SKINNER BAKING CO., MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on December 10, 2013, the Board of the Paris Economic Development Corporation approved a $1,179,000.00 Economic Incentive Agreement with The James Skinner Baking Co., a Nebraska Corporation (hereinafter called "Skinner ") related to the Twenty -Five Million Dollar ($25,000,000.00) capital investment Skinner is making in the former Sara Lee Property and Baking Facility; and, WHEREAS, pursuant to City and PEDC policy, the City Council shall review all economic incentive agreements involving an expenditure in excess of $400,000.00; and WHEREAS, the City Council hereby finds that Skinner has made a significant capital investment in the community, adding to the tax base and creating many new jobs, therefore the City Council finds that it is in the best interest of the City and its citizens to approve the PEDC Economic Incentive Agreement with Skinner, attached hereto as Exhibit "A ", for the new Skinner Bakery Facility.. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble of this resolution are hereby in all things approved. Section 2. That the Economic Incentive Agreement between the Paris Economic Development Corporation and The James Skinner Baking Co., a substantial copy of which is attached hereto as Exhibit "A" is hereby approved. PASSED AND ADOPTED this 16th day of December, 2013.