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City of Paris Reinvestment Zone Policy General Purpose and Objectives The City of Paris is committed to the promotion and retention of high quality development in all parts of the city as part of an overall effort to improve the quality of life for its residents. Since this purpose can be served, in part, by the expansion of its commercial business, retail, and mixed use base, the City of Paris will give consideration to the creation of reinvestment zones in order to make certain developable properties eligible for ad valorem tax abatements consistent with relevant state statutes and local ordinances. It is the policy of the City of Paris that consideration will be provided in accordance with the criteria set forth in this document. Nothing within this policy shall imply or suggest that the City of Paris is under any obligation to create reinvestment zones or provide tax abatements to any property. All properties shall be evaluated on a case -by -case basis. Applicability This Reinvest Zone Policy establishes guidelines and criteria for the creation of reinvestment zones for the purpose of entering into economic development agreements for possible tax abatements, under the provisions of Chapter 312 of the Texas Tax Code, and other economic grants, loans, or incentives as authorized by Chapter 380 of the Texas Local Government Code, the Development Corporation Act; Article 5190.6, Tex. Rev. Civ. Stat.; Article III, Section 52 -a of the Texas Constitution; and other applicable laws.