Laserfiche WebLink
WHEREAS, the City Council has identified a specific geographic area within the City of <br />Paris and within Reinvestment Zone 2 02 0-1 in which lie properties eligibile for the Program; and <br />WHEREAS, the City Council wishes to offer other incentives in the Program through <br />Chapter 380 of the Texas Government Code; and <br />WHEREAS, said the City Council finds that Program and the incentives offered therein will <br />contribute to economic development within the Program area and the Reinvestment Zone through <br />the provision of much needed housing for workforce for industries and other employers within <br />the City; and <br />WHEREAS, on January 10, 2022, the City Council conducted a public hearing regarding <br />the Program guidelines and criteria for residential tax abatements, and having taken into account <br />any testimony from said public hearing, wishes to adopt the Program and the guidelines and <br />criteria for residential tax abatements set forth therein; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all things <br />approved. <br />Section 2. The City hereby adopts the "5 In 5 Housing In -Fill Development Program," a copy <br />of which is and attached hereto and incorporated herein as Exhibit "A," elects to be eligible to <br />participate in a residential tax abatement program under said Program, and adopts the Guidelines <br />and Criteria for residential tax abatements contained in said Exhibit "A." <br />Section 3. The City Council hereby designates the defined geographic area for properties to <br />be eligible to participate and enter into an agreement for the "5 In 5 Affordable Housing In -Fill <br />Program", a map of which is attached hereto and incorporated herein as Exhibit "B". <br />Section 4. In order to qualify for the Program, an applicant shall agree to construct at least <br />five (5) new residential dwelling units on one (1) or more parcels within the boundaries set out <br />in Exhibit "B", which area lies within Reinvestment Zone 2020-1, within five (5) years of entering <br />into an Economic Development Agreement and Tax Abatement Agreement with the City. <br />Section S. This resolution shall become effective from and after the date of passage. <br />PASSED AND APPROVED this 10th day of January, 2022. <br />Paula Portugal, Mayo <br />ATTEST: ",���4 <br />nice Ellis, City Clerk <br />