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OC.r 2) Legal description of the property to be designated as a reinvestment zone. 3) Detailed information regarding the type, number, location, and costs of planned improvements. 4) A statement granting the access to and inspection of the property and proposed improvements by City inspectors and officials to ensure that the improvements or repairs are made according to specifications and conditions of the agreements. 5) A statement limiting the uses of the property consistent with the general purpose of encouraging development or redevelopment of the zone during the period that property tax exemptions are in effect; and, 6) A statement providing for the recapturing of property tax revenue lost as a result of the agreement if the owner of the property fails to make the improvements or repairs as provided by the agreement. V. Amendments to these Guidelines and Criteria The guidelines and criteria adopted herein shall not be amended or repealed except by three- fourths (3 /4ths) vote of the City Council. VI. Effective Date These guidelines and criteria adopted herein shall be effective from the date of passage and remain effective for two (2) years from such date of adoption, unless otherwise repealed by a three - fourths (3 /4ths) vote of the City Council. Passed and adopted this 15th day of March, 1993. George Fisher, Mayor ATTEST: Mattie Cunningham, City Clerk APPROVED AS TO FORM: T : -K. Haynes, City Attorney GUIDELINES & CRITERIA - Page 4 Resolution No. 93 -031, calling a public hearing to be held at 6:00 P. M. on April 8,1993, in the Council Chambers of the City Hall located_ at 135 First Street S. E., Paris, Lamar County, Texas, at which time any interested person may appear and speak for or against the creation of the proposed Reinvestment Zone No. Four, whether all or part of the territory described in the metes and bounds description, and depicted on the plat, was presented. A motion was made by Councilman Bell, seconded by Councilwoman Ingram for approval of the resolution. The motion carried 6 ayes, 0 nays.