Laserfiche WebLink
C. Reduced Fees for Building Plan Review and Permitting <br />3.5 In further consideration for Owner's construction and completion of the above - <br />referenced Improvements, City agrees to reduce rates for building plan review by one hundred <br />percent (100%) and permit fees by fifty percent (50%) for each dwelling unit constructed <br />pursuant to this Agreement. <br />D. Reduced Fees for Water and Sewer Tap Labor <br />3.6 In further consideration for Owner's construction and completion of the above - <br />referenced Improvements, City agrees to reduce rates for water and sewer tap labor fees by fifty <br />percent (50%) where required by the City's Public Works Department. <br />E. Local Purchasing <br />3.7 As further consideration for the incentives granted herein, where possible, Owner <br />shall purchase building materials and fixtures from vendors located within the City of Paris. <br />F. Default <br />3.7 It shall be an act of default of the Economic Development Agreement should <br />Owner fail to construct and compete all of the Improvements specified herein within the five (5) <br />year term set forth herein. In such case, City will exercise its right of reversion to each parcel on <br />which a residential development has not been constructed and completed, and Owner agrees to <br />divest itself of any ownership interest in any and all such parcels conveyed to Owner under this <br />Agreement. <br />IV. <br />Terms Specific to the Residential Tax Abatement Agreement— <br />Texas <br />greementTexas Tax Code Chapter 312 <br />A. Term <br />4.1 The term of this Tax Abatement Agreement shall commence on _ ..m , <br />2022. It is the intention of this Tax Abatement Agreement that Owner receive an abatement of <br />taxes on each dwelling unit constructed as it is completed and issued a Certificate of Completion <br />by City. Consequently, each dwelling unit constructed and completed shall have its own five (5) <br />year abatement period. The abatement period for each constructed and completed dwelling unit <br />shall commence on January 1 of the year following City's issuance of a Certificate of <br />Completion on said dwelling unit and end on the fifth (5t') anniversary of the commencement of <br />the abatement period. This Tax Abatement Agreement shall terminate upon the expiration of the <br />final abatement period granted herein unless otherwise terminated by default or agreement of the <br />Parties. <br />n <br />