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THE STATE OF TEXAS <br />COUNTY OF LAMAR <br />ECONOMIC DEVELOPMENT AND RESIDENTIAL TAX ABATEMENT <br />AGREEMENT <br />This Economic Development and Residential Tax Abatement Agreement (hereinafter the <br />"Agreement) is entered into by and between the CITY OF PARIS, TEXAS, a home rule <br />municipality situated in Lamar County, Texas, acting by and through its authorized officer <br />whose signature appears below (hereinafter called "City"), and PARIS/LANL4,R COUNTY <br />HABITAT FOR HUMANITY (hereinafter referred to as "Owner"). <br />WITNESSETH: <br />WHEREAS, on February 10, 2020, the City Council passed Ordinance No. 2020-005 <br />creating Reinvestment Zone 2020-1, designating certain areas inside the city limits to be eligible <br />for the Residential Tax Abatement Program; and <br />WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of <br />Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In - <br />Fill Development Program (hereinafter "the Program") including low cost land sales and <br />residential tax abatements and adopting guidelines and criteria for the Program; and <br />WHEREAS, Resolution 2022-003, City Council designated an area within Reinvestment <br />Zone 2020-1 as being eligible for the Program; and <br />WHEREAS, on April 12, 2021, the City Council approved resolution 2021-012 re- <br />authorizing the City to become eligible to participate in residential tax abatements and approving <br />guidelines and criteria for the residential tax abatement program; and <br />WHEREAS, the Program has additional criteria and guidelines for participation in said <br />Program, including criteria and guidelines for eligibility for residential tax abatements; and <br />WHEREAS, on or about May 23, 2022 by Resolution No. 2022-038, the City Council <br />approved a Residential Tax Abatement Agreement with Owner regarding property located at 743 <br />E. Polk St., Paris, Texas; and <br />WHEREAS, on or about February 13, 2023, Owner acquired three additional properties <br />(the "Newly Acquired Properties") via Tax Deed upon which it intends to build four (4) single <br />family dwellings; and <br />WHEREAS, by combining the single family dwelling under construction on the original <br />property at 743 E. Polk St. and the proposed additional four (4) single family dwellings on the <br />Newly Acquired Properties, Owner has become eligible for the Program; and <br />