98-018 ORD REVISE CHAPTER 30 OF CODE OF ORDINANCES

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ORDINANCE NO. 98-018 AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, PROVIDING THAT THE CODE OF ORDINANCES, CITY OF PARIS, BE REVISED BY AMENDING CHAPTER 30 OF SAID CODE; PROVIDING FOR THE ESTABLISHMENT OF REINVESTMENT ZONE NO. FIVE: REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING FOR AN EFFECTIVE DATE OF APRIL 13, 1998. WHEREAS, the City Council of the City of Paris, Paris, Texas, desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone far commercial and industrial tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, as amended; and, WHEREAS, on the 9th day of April, 1998, a hearing befare the City Council was held, such date being at least seven (7) days after the date of publication of the notice of such public hearing and the delivering of written notice to all taxing entities which includes within its boundaries real property that is to be included in the proposed reinvestment zone; and, WHEREAS, the City, at such public hearing, invited any interested person to appear and speak for or against the creation of the reinvestment zone and whether all or part of the territory described should be included in the proposed reinvestment zone and any concerns regarding the offering of tax abatement incentives; and, WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in favor of all the foregoing matters relating to the creation of the reinvestment zone and no opponents of the reinvestment zone appeared to contest the creation of the reinvestment zone, if any; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. Section 2. That the City, after conducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: a) That the public hearing on adoption of the reinvestment zone has been properly called, held, and conducted and that notice of such hearing has been published as required by law and mailed to all taxing units overlapping the territory inside the proposed reinvestment zone; and, b) That the boundaries of the reinvestment zone are described by metes and bounds and depicted on the plat attached hereto as Exhibit A, hereinafter referred to as Zone Five; and, c) That creation of the proposed zone within said Zone Five will result in benefits to the City and to land included in the zone and that the improvements sought are feasible and practical; and, d) That the reinvestment zone within said Zone Five meets the criteria for the creation of a reinvestment zone as set forth in the Property Redevelopment and Tax Abatement Act, as amended, in that it is "reasonably likely as a result of the designation to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City"; and,