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

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;. . 161 D1 D113 I DION] This Residential Tax Abatement Agreement (hereinafter the "Agreement) is entered into by and between the CITY OF PARIS, TEXAS, a home rule municipality, situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called "CITY"), and PARIS/LAMAR COUNTY HABITAT FOR HUMANITY (hereinafter referred to as "Owner"). WITNESSETH: WHEREAS, on February 10, 2020, the City Council passed Ordinance No. 2020-005 creating Reinvestment Zone 2020-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on April 12, 2021, the City Council of the City of Paris, Texas passed Resolution No. 2021-012 reauthorizing the city to become eligible to participate in residential tax abatements and approving guidelines and criteria for the program; and WHEREAS, Owner has submitted an application for a residential tax abatement related to its purchase of the property located at 743 E. Polk St., Paris, Texas 75460 (the "Property") for the purpose of constructing a new single-family dwelling (the "Improvements"); and WHEREAS, city staff has reviewed the application and the location of the above described improvements and has determined that the property is located within the boundaries of Reinvestment Zone 2020-1 and meets the requirements for Improvements set forth in guidelines and criteria as set forth in Resolution No. 2021-012; and WHEREAS, Owner has a demonstrated track record of constructing quality homes for lower income people in the city; and WHEREAS, the location of the home to be constructed is within the zone set forth in the city's 5 in 5 Housing Infill Development Program dedicated to incentivizing investments in housing in the city's core; and WHEREAS, as such, the City Council finds justification for an upward deviation from the guidelines set forth in Exhibit 2 herein; 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: