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Council approves economic development agreement with AUDAX Enterprises for Williamsburg Shopping Center incentives
Summary
The council approved a development agreement with AUDAX Enterprises providing five annual ad valorem tax grants for vacant space and three annual sales tax grants to incentivize new retail at the Williamsburg Shopping Center; property tax grants were estimated at about $1,390 annually based on current values.
The Paris City Council voted 7-0 to approve an economic development agreement with AUDAX Enterprises (spelled variously in the transcript as AUDAX/AUDEX) for the Williamsburg Shopping Center on Clarksville Street.
City staff described the agreement as a package of incentives to help lease nine vacant spaces in the shopping center. The…
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