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Regular Council Meeting December 8, 2014 Page 5 Mayor Frierson opened the public hearing and asked for anyone wishing to speak about this item, to please come forward. Ray Banks said he was not in support of or in opposition of this item, but was under the impression this was supposed to be under Chapter 311 of the Tax Code, not Chapter 312. Mr. Banks said he requested a copy of the petition filed by the developer or owner and there was not one filed with the City. Mr. McIlyar explained the differences between Chapter 311 and 312 of the Tax Code and why the reinvestment zone was appropriate under Chapter 312. He said Paris Lakes gave a presentation to the tax abatement committee comprised of the taxing entities which resulted in this item being placed on the agenda. With no one else speaking, Mayor Frierson closed the public hearing. Council Member Hashmi said the Council was the policy making authority and should not be involved in individual deals, but rather they should make a policy that was to be followed city -wide so everyone is treated on the same scale in the future. Council discussed development of a policy, and whether or not to have one in place prior to approval of this reinvestment zone. Council Member Pickle confirmed with Mr. McIlyar that approval of the reinvestment zone was not approval of a tax abatement and that a reinvestment zone must come before a tax abatement. Council Member Pickle also confirmed with Mr. McIlyar that the reinvestment zone and tax abatement could be approved on the same agenda but that was up to the City Council. Council Member Pickle inquired if the reinvestment zone was with the property or the owner and Mr. McIlyar said the reinvestment zone designation was for the property and the term was for five years. He also said if Council does approve a tax abatement in the future and it is for longer than five years that the reinvestment zone would need to be renewed. Council Member Hashmi reiterated he personally would like to see a policy in place to insure fairness among everyone. Council Member Pickle said he agreed about having a policy going forward, but that he did not want to keep this project from moving forward since they did not already have a policy in place. City Council heard from developer Ron Parker, who told them they had done everything that had been asked of them, that the investment would be over 100 million dollars, they had been working on this project for over two years, they had worked with PEDC, had met with the tax abatement board, and were receiving a grant from PEDC to fix the sewer line problem and they were going to give that back to the City. He said he did not think it would delay anything but the getting the reinvestment zone sooner would trigger how fast they could move forward. City Council further discussed tabling this item until a proposed policy could be brought back on January 12th. Phil Smith, attorney for the developer, requested the Council to approve the reinvestment zone tonight so they could move forward. Council continued discussion of tabling the item, approval of the item and development in the City. It was a consensus of the City Council that Mr. Godwin bring a policy on reinvestment zones to the January 12 meeting. Mr. Godwin explained that the policy would probably have some of the same criteria as the tax abatement guidelines. Council Member Hashmi said he would like a city -wide policy in place rather prior to approval of this reinvestment zone. A Motion to table this item was made by Council Member Hashmi and seconded by Council Member Lancaster. Motion failed, 3 ayes — 4 nays, with Council Members Pickle, Plata, Grossnickle and Mayor Frierson casting dissenting votes.