27 - Economic Development Residentail Tax Abatement Agreement - Michael Davidson -Distinguished Property & Investments - 5 in 5 Housing Infill Development Program

Home Browse Search

Development Program as set forth in City Resolution No. 2022-003, as amended by Resolution No. 2022 - NOW, THEREFORE, in consideration of the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City, and Owner, (collectively referred to as "Parties") hereby mutually agree as follows: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the terms of the Economic Development Agreement and Residential Tax Abatement Agreement and the property the subject thereof meet the 5 in 5 Housing Infill Development Program adopted by the City of Paris by Resolution No. 2022-003 as amended by Resolution No. 2022 - Section 3. That the terms and conditions of the proposed Agreement attached hereto as Exhibit A and incorporated herein by reference, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things approved. Section 4. That the Mayor is hereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit A. Section 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. PASSED AND APPROVED this 25th day of July, 2022. Paula Portugal, Mayor ATTEST: Skylar Unger, Deputy City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney