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0001 2 Regular City Council Meeting March 27, 2006 Page 2 E. Building and Standards Commission. (3- 20 -06) 4 &5. RESOLUTION NO. 2006-048: A RESOLUTION OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH PARIS WAREHOUSE 107, INC.; MAKING OTHER • FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. Mayor Fendley opened the public hearing and asked for anyone speaking in favor of this item to do so. Gary Vest spoke in support of this item. David Owens, plant manager, told Council the abatement would allow the company to expand in order to meet the needs of their two largest customers. He said they plan to add 150,000 square feet of warehouse space by adding a new building. Mr. Owens also said this would help to retain current jobs. Tony advised Council this was a seven year abatement agreement. The first three years will be at 80% of the assessed value and it descends 20% each year thereafter through the end of the Agreement. The Abatement Committee and PEDC recommended approval of this item. Mayor Fendley asked for anyone speaking against this item to do so. With no one else speaking, Mayor Fendley closed the public hearing. A Motion to approve this item was made by Council Member Fisher and seconded by Council Member Poston. Motion carried, 6 ayes - 0 nays. 6 &7. RESOLUTION NO. 2006-049: A RESOLUTION OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING A TAX ABATEMENT AGREEMENT WITH CAMPBELL SOUP SUPPLY COMPANY, LLC; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. Mayor Fendley opened the public hearing and asked for anyone speaking in favor of this item to do so. Gary Vest spoke in support of this item. Mr. Vest said Campbell was asking for an abatement of ten years at 100 %. Mr. Vest said this was a 17.7 million dollar investment and it does exceed the parimeters in the schedule of the Tax Abatement Guidelines, which makes it eligible for individual contract negotiation. Mike Dunn, plant manager, also spoke in support of this item. Mr. Dunn told Council this abatement will allow them to bring the new cold blend technology to the Paris plant, which will help them to move toward growth. Mayor Fendley asked for anyone speaking against this item to do so. Tony informed Council that the Abatement Committee, as well as PEDC recommended approval of this item. With no one else speaking, Mayor Fendley closed the public hearing.