17 - 5 in 5 Tax Abatement Agreement with Sky-Mar Ventures

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Item No. 17 TO: Mayor, Mayor Pro Tem and City Council Grayson Path, City Manager FROM: Andrew Mack, AICP Director Planning & Community Development SUBJECT: Discuss and Act Upon a 5 In 5 Tax Abatement Agreement with Skyler Burchinal DATE: June 27, 2022 BACKGROUND & DISCUSSION Attached please find the draft resolution and agreement located along SW 4th St. and Sherman Ave. between the City and Mr. Skyler Burchinal of Sky -Mar Ventures, LLC for the construction of a new 10 unit apartment in the 5 In 5 Area for a total of 10 dwelling units. The apartments are planned for construction this year and a platting process will follow this agreement prior to construction. Attached are examples of the new apartment Mr. Burchinal proposes to construct on the property and will be the General Contractor for the project. The agreement spells out all the requirements under the 5 In 5 Infill Development Program Guidelines. Mr. Burchinal plans to attend the meeting on Monday night and present his building plans under the agreement to the City Council. I also attended the Lamar County Board Meeting with Mr. Burchinal on June 13"'. The tax abatement agreement will be back on the county board agenda on July l It" for final approval. Recommendation Approval of the 5 In 5 Infill Development Agreement with Skyler Burchinal of Sky -Mar Ventures, LLC for the construction of a new 10 unit apartment in the 5 In 5 Area is recommended.