2022-033 - Approving a Residential Tax Abatement Agreement between the City of Paris and We’re Going to Paris, LLC

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list of materials used and cost thereof. 5.5 The Owner further agrees that the City, its agents and employees, shall have reasonable right of access to the Property to inspect the Improvements in order to insure that the construction of the Improvements are in accordance with this Agreement and all applicable state and local laws and regulations or valid waiver thereof. After completion of the Improvements, the City shall have the right to enter the Property and conduct an inspection of the completed Improvements. D. Initial and Annual Reporting. 5.6 The Owner further agrees that it will, within thirty (30) days of completion of the Improvements and issuance of a Certificate of Completion by the City, provide the CITY with a sworn report, written on Owner's letterhead and signed by a designated representative of Owner, which contains the following information: (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the Property prior to the construction of the Improvements; (b) Detailed description of the Improvements; (c) A copy of or identification of plans and specifications of constructed improvements and the location of the same for inspection by City's Building Official; (d) The actual cost of the specific capital Improvements; and, (e) The date of substantial completion of the specific Improvements as defined in paragraph 2.1 hereof, and (f) Receipts showing that the purchase of building materials and fixtures from for the construction were made from vendors within the City of Paris, when possible. 5.7 Owner further agrees that it will provide City with an annual, sworn report which shall certify, in writing, that it is in compliance with each applicable term of this Agreement. Such annual report shall be furnished on the forms provided by the City and shall be due on each yearly anniversary of the Initial Report required by Section 5.6. 5.8 Owner recognizes that these reporting requirements are material conditions of this Agreement, and a failure to submit such reports when due will constitute a breach hereof. E. Authority to Contract. 5.9. This Agreement was authorized by resolution of the City Council at its regularly scheduled meeting on the 9th day of May 2022, which further authorized the City Manager to execute the Agreement on behalf of the City. 5