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

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or other parcels within the defined geographic area. City Staff will provide a list and corresponding map from which tax foreclosure City receivership parcels may be reviewed. The Applicant may submit an application for this program concurrently with an application for a building permit(s). If the Applicant for the building permit is not the owner of the real estate and does not make application for an agreement on behalf of the owner of the real estate and does not make application for an Agreement on behalf of the owner, the City Staff shall notify the owner (according to the most current records of the Lamar County Appraisal District) by certified mail, return receipt requested, that the application must be signed and filed with the City within ten (10) business days of receipt of the affidavit of ownership notice. B. A pre -approval letter must be attached to the application from Applicant's financial institution stating that the Applicant will have financial capital available to compete all new dwelling unit construction under the five (5) year Agreement with the City. Verification of such financial capability may be reviewed over the course of the Agreement. C. If the building permit applicant does not apply for an Agreement prior the time the building permit is issued, or if the owner fails to respond to the written notice availability of the Agreement, this policy shall be considered waived by the applicant and/or owner. City Staff shall make a record to reflect owner's election not to participate in the Program or to document that owner did not respond to City's notice of opportunity to participate in the program. The refusal or waiver to participate in the program by the building permit applicant or owner shall be binding on subsequent owners of the real property. D. A complete legal description shall be provided with a copy of the current deed of the land, unless the parcel(s) are being transferred by tax resale deed by the City of Paris. E. Applicant shall complete all forms and information detailed above and submit all forms to the City of Paris Director of Planning and Community Development. 2. All information in the application package detailed above will be reviewed for completeness and accuracy. Additional information may be requested as needed. If necessary, Applicant will meet with City Staff to discuss details of the application and to prepare presentation of the application to the City Council. 3. The application shall designate whether the dwellings(s) to be constructed are to be retained for ownership, or sold to another owner upon completion of construction. Applicant shall also provide an estimate of the value of improvements as required for building permit application. 4, If an application for the 5 In 5 Housing In -Fill Development Agreement is to be recommended for approval by staff, then an Agreement as defined herein with the City of Paris as prepared by the City Attorney for approval by the City Council. Page 5 of 7