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Item No. 18 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Kent McIlyar, City Attorney <br />SUBJECT: Tax Abatement Agreement for Turner Industries Group, L.L.C. <br />DATE: September 9, 2015 <br />BACKGROUND: On May 11, 2015, the City Council enacted City Ordinance No. 2015 -016 <br />creating Reinvestment Zone No. 2015 -2 over property owned by Turner Industries Group, <br />L.L.C. in Paris, Lamar County, Texas. <br />Turner Industries plans to build a $6,000,000.00 office building in the Reinvestment Zone and is <br />requesting a ten (10) year tax abatement on 100% abatement on these improvements. The Tax <br />Abatement Advisory Committee has reviewed the proposal and recommends same to City of <br />Paris and Lamar County. <br />STATUS OF ISSUE: Pending City Council approval of tax abatement agreement. <br />BUDGET: Ten year abatement on new building. <br />RECOMMENDATION: Motion to approve tax abatement agreement between City of Paris and <br />Turner Industries Group, LLC. <br />