2015-027 - Approving a Tax Abatement Agreement with Paris Lakes Medical Center, LLC

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RESOLUTION NO. 2015 -027 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH PARIS LAKES MEDICAL CENTER, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on May 11, 2015, the City Council of the City of Paris, Texas adopted Resolution No. 2015 -023 stating their intent to participate in tax abatement and adopting guidelines and criteria for industrial /commercial tax abatement; and WHEREAS, the City Council of the City of Paris has been presented a proposed agreement by and between the City of Paris, Texas and Paris Lakes Medical Center, LLC, providing for a commercial and industrial tax abatement for certain improvements, a copy of which is attached hereto as Exhibit "A ", and incorporated herein by reference hereinafter called "Agreement "; and, WHEREAS, On December 8, 2014, the City Council created Reinvestment Zone No. 2014 -1 on 40 acres of land near the intersection of SE Loop 286 and FM 905 for the proposed Paris Lakes Medical Center Project. Since that time, PLMC has obtained rezoning of the property from Agricultural to Commercial and they have met with City Engineering staff to discuss necessary public infrastructure improvements for the Project. WHEREAS, upon review and consideration of the Agreement, and all matters attendant and related thereto, the City Council is of the opinion that the terms and conditions thereof meet the Guidelines and Criteria for Tax Abatement and should be approved, and that the Mayor should be authorized to execute it on behalf of the City of Paris, Texas. 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. That the terms of the Tax Abatement Agreement and the property the subject thereof meet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by Resolution No. 2015 -023 Section 3. That the terms and conditions of the proposed Agreement attached hereto as Exhibit "A ", having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same is hereby, in all things approved. Section 4. That the Mayor is hereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit "A ".