15 - Residential Tax Abatement Agreement - 5 In 5 Housing Infill Program - 448-10th S.E.

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Item No. 15 Memorandum TO: Mayor, Mayor Pro Tem and City Council Grayson Path, City Manager FROM: Andrew Mack, AICP Director Planning & Community Development SUBJECT: Discuss and act on a Resolution approving a Residential Tax Abatement Agreement with Paris/Lamar County Habitat for Humanity for the property located at 743 E. Polk, Block 2, Lot 22, Gibbons Park Addition (LCAD #11781); 448 10`h St. N.E., City of Paris Block 69-13, Lot 3, (LCAD #14651); 813 5th St. S.E., City of Paris Block 161, Lot I (LCAD #16659); and 1274 15th St. S.E., Block 8, Lots 3 and 4, (Gibbons Park Addition (LCAD #11594) pursuant to the 5 In 5 Housing Infill Development Program. MTG. DATE: April 10, 2023 BACKGROUND At its meeting held on May 23, 2022, Council approved a tax abatement agreement with Habitat for Humanity for the property located at 743 E. Polk. The intent of Habitat at that time was for the approval of the first of 5 lots for construction of a new home in their 2022 build under the new 5 In 5 Program. That home was permitted last fall and is nearing completion. At that time the process for obtaining approval of the tax deeds for the other 3 lots, including 1 lot to be divided in two, were not ready to go. The City then this year produced the tax deeds for these properties and Council approved their ownership transfer to Habitat 4 Humanity in February 2023. We are now prepared to bring forward the full 5 In 5 Agreement for the remaining 4 dwelling units as required by the 5 In 5 Policy. Habitat will also pursue the same tax abatement approvals with Lamar County following city action. Upon completion of the house construction, the tax abatement can be re- assigned to the new owner. They will be brought back for Council approval prior to closing with the new home owners. Staff is pleased that we are now able to package up the full agreement which will carry their organization forward with their mission over the next several years. RECOMMENDATION Staff recommends approval of a Year 100% Residential Property Tax Abatement Agreement with Paris/Lamar County Habitat for Humanity, pursuant to the 5 In 5 Housing Infill Development Program.