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2004-180-RES AUTHORIZING TAX ABATEMENT AGREEMENT WITH PARIS WAREHOUSE 107, INC. RESOLUTION NO. 2004-180 A RESOLUTION OF THE CITY COUNCIL 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. WHEREAS, the City of Paris is in receipt of a Tax Abatement and Reinvestment Zone Designation Application from Paris Warehouse 107, Inc., requesting a tax abatement for improvements to its facilities located at 2300 13th S.W. in Paris, Texas; and, WHEREAS, such Application was presented to the Board of Directors of the Paris Economic Development Corporation on the 10th day of September, 2004, for review and recommendation to the City Council ofthe City of Paris, and the PEDC has recommended that Paris Warehouse 107, Inc. be granted a one hundred percent (100%) tax abatement for a period of seven (7) years; and, WHEREAS, the City Council ofthe City of Paris has been presented a proposed agreement by and between the City of Paris, Paris, Texas, and Paris Warehouse 107, Inc, providing for a commercial and industrial tax abatement for certain improvements, a copy of which is attached hereto and incorporated herein by reference hereinafter called "AGREEMENT"; and, WHEREAS, upon full review and consideration of the AGREEMENT, and all matters attendant and related thereto, the City Council is ofthe opinion that the terms and conditions thereof should be approved, and that the Mayor should be authorized to execute it on behalf ofthe City of Paris; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the terms and conditions of the proposed AGREEMENT, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests ofthe City of Paris and its citizens, be, and the same are hereby, in all things, approved. Section 3. That the Mayor is hereby authorized to execute the AGREEMENT and all other documents in connection therewith on behalf ofthe City of Paris substantially according to the terms and conditions set forth in the AGREEMENT. Section 4. That the terms of the Tax Abatement Agreement and the property the subject thereof meet the Guidelines and Criteria heretofore adopted by the City of Paris that govern Reinvestment Zone No. 10. Section 5. That, by hereby granting the tax abatement, there will be no substantial adverse effect on the provision of City services or on its tax base. Section 6. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. Section 7. That this approval and execution of the AGREEMENT on behalf of the City is not conditional upon approval and execution of any other tax abatement agreement by any other taxing entity. Section 8. That this resolution shall be effective from and after its date of passage. PASSED AND ADOPTED this the 11 th day of October 2004. ATTEST: {J.hVuIuJ ~ S erian Dixon, Assistant City Clerk APPROVED AS TO FORM: