2023-019 - Economic Development Agreement and Tax Abatement Agreement with Paris Lamar County Habitat for 5 In 5 Housing Infill Development Program

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RESOLUTION N0. 2023-019 -------------- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH PARIS/LAMAR COUNTY HABITAT FOR HUMANITY PURSUANT TO THE 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. 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 January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter "the Program") including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program; and WHEREAS, Resolution 2022-003, City Council designated an area within Reinvestment Zone 2020-1 as being eligible for the Program; and WHEREAS, on April 12, 2021, the City Council approved resolution 2021-012 re -authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criteria for the residential tax abatement program; and WHEREAS, the Program has additional criteria and guidelines for participation in said Program, including criteria and guidelines for eligibility for residential tax abatements; and WHEREAS, on or about May 23, 2022 by Resolution No. 2022-038, the City Council approved a Residential Tax Abatement Agreement with Paris/Lamar County Habitat for Humanity ("Owner") regarding property located at 743 E. Polk St., Paris, Texas; and WHEREAS, on or about February 13, 2023, Owner acquired three additional properties located at 44810th St. N.E., City Of Paris Block 69-13, Lot 3, (LCAD #14651); 813 5th St. S.E., City Of Paris Block 161, Lot 1 (LCAD #16659); and 1274 15th St. S.E., Block 8, Lots 3 and 4, Gibbons Park Addition (LCAD #11594) (the "Newly Acquired Properties") via Tax Deed upon which it intends to build four (4) single family dwellings; and WHEREAS, by combining the single family dwelling under construction on the original property at 743 E. Polk St. and the proposed additional four (4) single family dwellings on the Newly Acquired Properties, Owner has become eligible for the Program; and