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Regular Council Meeting January 10, 2022 Page 4 City Planner Andrew Mack explained that City Staff had been working for several months to develop a new program initiative to encourage and incentivize new infill development housing in the core area of the City. He reviewed the four main incentives, as follows: 1) low cost tax forfeit lots to be sold for $1.00 to builders and/or investors, with approval of all the taxing jurisdictions. Other privately owned, non-public trustee parcels in the eligibility boundary area would also be counted toward the total 4 required newly constructed dwellings all up to fully modern building safety codes; 2) A 5 year 100% tax abatement to commence from the date of final completion by the builder. Upon completion, if the builder sells the new home(s), a request can be made to the City Council to re -assign the tax abatement for the remaining period under the agreement; 3) Reduced building plan review and permit fees. The higher the number of units built over time, the greater the percentage discount of the fees; and 4) Reduced water & sewer labor tap fees. The higher the number of units built over time, the greater the percentage discount of the fees. Next, Mr. Mack reviewed a number of additional specifics built into the program contained in the guidelines. Mr. Mack said as of to date, there had been a strong interest expressed in the program from builders. He also said this program was discussed with a representative of all of the other three taxing authorities and was well received. Mayor Portugal opened the public hearing and asked for anyone wishing to speak about this item, to please come forward. James Allcorn, 870 S.E. 41st - he inquired if the abated taxes were only for the City. Mayor Portugal said they had been working with the County and the Schools regarding the program. City Manager Grayson Path added that the Schools did not give tax abatements, but the City needed the Schools and the County to sign off on the tax delinquent lots to be able to move forward with the project. Derrick Hughes, 627 5a' N.E. — he said he was very excited about this program and had been working to get roofs in Paris. With no one else speaking, Mayor Portugal closed the public hearing. Mayor Portugal asked if there were questions from City Council. Council Member Savage asked if there was a good intentions clause in the agreement should there be a developer that does not follow through. Mr. Mack said there was a performance clause in the agreement that in summary has the property reverting to the City. Council Member Savage inquired if plans were required in advance. Mr. Mack said a site plan was required to be submitted with the application. Council Member Pilgrim asked if there was a requirement in place to determine if the developer was financially capable of completing the project. City Attorney Stephanie Harris said there was not, but that could be added. Council Member Savage asked if this program was available for home rehabilitation, and Mr. Mack said it was not but only for new construction. Council Member Pankaj asked if there was a minimum square foot required. Mr. Mack said zoning would determine that. Mayor Portugal said housing Paris' workforce was an economic advantage. Council Member Savage said people were excited about this project. Council Member Knox expressed appreciation to City Staff for this project, and for including other departments and builders. Mayor Pro -Tem Hughes said this project was exciting and commended City Staff.