16 - KIMBERLY-CLARK REINVESTMENT ZONE

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SECTION 2. The Paris City Council, after conducting a public hearing, receiving evidence and testimony from all persons wishing to be heard, hereby makes the following findings and determinations: (a) That a public hearing on the establishment, extension and re- designation of the Reinvestment Zone described herein has been properly called, held and conducted and that the required notice of such hearing has been given to the public and to all taxing units overlapping the territory inside the proposed reinvestment zone; (b) That the boundaries of the reinvestment zone shall be the area described and depicted in Exhibit "A" which is attached hereto and incorporated herein by reference; (c) That the extension and re- designation of the reinvestment zone for tax abatement with boundaries as described and depicted in Exhibit "A" will result in benefits to the City and to the land included in the Reinvestment Zone and the improvements sought are feasible and practical; (d) That the Reinvestment Zone, as described and depicted in Exhibit "A ", satisfies the criteria for establishment, extension and re- designation of a Reinvestment Zone as set forth in Section 312.202 of the Act, because it is reasonably likely that as a result of the designation, the area will contribute to the retention or expansion of primary employment or will attract major investment in the reinvestment zone that would be a benefit to the property and that would contribute to the economic development of the City of Paris; and (e) That the reinvestment zone as defined in Exhibit "A" meets the criteria for the establishment, extension and re- designation of a reinvestment zone as set forth in the City of Paris Guidelines and Criteria for Tax Abatement. SECTION 3. Pursuant to Chapter 312 of the Property Redevelopment and Tax Abatement Act, the City Council of the City of Paris hereby establishes, extends and re- designates the Reinvestment Zone encompassing the Kimberly -Clark Plant Property in Paris, Texas for commercial and /or industrial tax abatement encompassing the area as described and depicted in Exhibit "A" which shall be known as Reinvestment Zone No. 15 of the City of Paris, Texas. SECTION 4. Reinvestment Zone No. 15 for the Kimberly -Clark Plant property adopted by City Council Resolution No. 2006 -020 is hereby extended, amended and re- designated for two additional five -year terms effective May 8, 2011 and ending May 7, 2021. SECTION 5. To be eligible for tax abatement within City of Paris Reinvestment Zone No. 15, a project shall: (a) Meet the standards set forth in the City of Paris Guidelines and Criteria for Tax Abatement; Page 2 of 3