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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This Residential Tax Abatement Agreement (hereinafter the "Agreement) is entered into by and • 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: for the Residential Tax Abatement Program; and "V'AE_.*Uq AS, 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; • WHEREAS, • has submitted an application for a residential tax .•. related to its purchase of the property located at 743 E. Polk St., Paris, Texas 75460 (the "Property") for the r• ♦ • a new single-family dwelling (the "Improvements"); and WHEREAS, city staff has reviewed the application and the location of the above Reinvestment •, 2020-1 and meets the requirements for rr• 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 • income people in the city; and WHEREAS, the location • the home to • constructed is within the zone set forth in the city's 5 in 5 Housing Infill Development Program dedicated to incentivizing investments in 4ousing 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 • the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby ?cknowledged, the City, and Owner (collectively referred to as "Parties") hereby mutually agree as •