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� , <br /> WHEREAS, the City Councfl has identified a specific geographic area within the City of <br /> Paris and within Reinvestrnent Zone 2d2 U-1 in which lie properties eligibile for the Progtam;and <br /> WHEREAS� the City Council wishes to offer other incentives in the Program through <br /> Chapter 380 of the Texas Government Code;and <br /> WHEREAS,said the City Council finds that Pmgram and the incentives offered therein will <br /> contribute to economic development within the Program area and the Reinvestrnent Zone through <br /> the provision of much needed h�using for workforce for industries and other employers within <br /> the City;and <br /> WHEREAS, on January 10, 2022, the City Council conducted a public hearihg regarding <br /> the Program guidelines and criteria for residential tax abatements,and having taken into acoount � <br /> any testimony from said public hearing, wishes to adopt the Program and the guidelines and <br /> criteria for residentlal tax abatements set forth therein; <br /> NOW, 'THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br /> TEXAS,THAT: <br /> Section 1. The findings set out in the preamble to this resolution are hereby in all things <br /> approved. <br /> Section 2.The City hereby adopts the"5 In 5 Housing In-Fill Development Program,"a copy <br /> of which is and attached hereto and incorporated her�in as Exhibit "A," elects to be eligible to <br /> participate in a residential tax abatement program under said Pmgram,and adopts the Guidelines <br /> and Criteria for residential tax abatements contained in said Exhiblt"A.° <br /> Secdott 3. The City Council hereby designates the de8ned geographic area for properaes to <br /> be eligible to participate and enter into an agreement for the"5 In 5 Affordable Housing in-FYlI <br /> Program",a map of which is attached hereto and incorporated herein as Exhibit"B". <br /> Sectlon 4.In order to qualify for the Program,an applicant shall agree to cons�uct at least <br /> five (S)new residential dwelling units on one(1] or more parcels within the boundaries set out <br /> in Sxhibit"B", which area lies within Reinvestrnent Zone 2020-1,within five(5)years of entering <br /> into an Economic Development Agreement and Tax Abatement Agreement with the City. <br /> Sectlon 5. This resolution shall become effective from and after the date of passage. <br /> PASSED AND APPROVED this 10� day of January,2022. <br /> .---, �-_ <br /> ��..���'�HE ClTy'��.� �rt' <br /> ra�p�c,�•. • ..,0�-�, Paula Portugal,May <br /> ATTEST: :��� ` �_�y� <br /> _�n: E�i,: <br /> ` ,?,y,t 'r: .r,rE <br /> '+�,,� ����y' <br /> �. .a��tt�� <br /> ice Ellis,City Clerk <br />