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RESOLUTION NO. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS <br />ESTABLISHING THE 5 IN 5 HOUSING IN -FILL DEVELOPMENT <br />PROGRAM; AUTHORIZING THE CITY TO BECOME ELIGIBLE TO <br />PARTICIPATE IN RESIDENTIAL HOUSING TAX ABATEMENTS AND <br />APPROVING GUIDELINES, CRITERIA AND AN APPLICATION FORM FOR <br />THE PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED <br />TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. <br />WHEREAS, Sec. 312.002 of the Texas Tax Code requires local taxing entities to state their <br />intent to participate in tax abatement agreements and to adopt guidelines and criteria for granting <br />such tax abatements; and <br />WHEREAS, on October 14, 2013 in Ordinance No. 2013-036, the City Council designated <br />Reinvestment Zone No. 2013-1 for residential tax abatements; and <br />WHEREAS, concurrent with Ordinance No. 2013-036, the City Council also approved <br />Resolution No. 2013-036 electing to be eligible to participate in a residential tax abatement <br />program and approving Guidelines and Criteria for Residential Tax Abatement Program as <br />required by statute; and <br />WHEREAS, on February 9, 2015, the City _Council passed Ordinance No. 2015-002 <br />amending Reinvestment Zone 2013-1 for Residential Tax Abatements to expand it to include all <br />Council Districts in the City and designated the new reinvestment zone as Reinvestment Zone No. <br />2015-1; and <br />WHEREAS, on January 9, 2017, the City Council approved Resolution 2017-001 re- <br />authorizing the City to become eligible to participate in residential tax abatements and approving <br />guidelines and criterial for the residential tax abatement program; and <br />WHEREAS, on April 22, 2019, the City Council approved Resolution 2019-013 re- <br />authorizing the City to become eligible to participate in residential tax abatements and approving <br />guidelines and criterial for the residential tax abatement program; and <br />WHEREAS, in 2020, City Council re -authorized Reinvestment zone 2015-01 and renamed <br />it Reinvestment Zone No. 2020-1; and <br />WHEREAS, on April 12, 2021, the City Council approved Resolution 2021-012 re- <br />authorizing the City to become eligible to participate in residential tax abatements and approving <br />guidelines and criterial for the residential tax abatement program; and <br />WHEREAS, pursuant to Texas Tax Code Sec. 312.002(c), guidelines and criteria for tax <br />abatements are effective for two years from the date adopted; and <br />WHEREAS, the City Council desire to continue to participate in a residential tax abatement <br />program in the City of Paris and has now been presented with a new program to be known as the <br />"5 In 5 Housing In -Fill Development Program" (the "Program") with specific guidelines and <br />criteria for -residential tax abatements entered into pursuant to Program; and <br />