24 - Amendment to Residential Tax Abatement Agreement - We're Going to Paris

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i U101 vWner of the real esute and does not make application for residential tax abatement on behalf of i4 the city staff shall notify the owner (according to Lamar County v a440 -C. �7- abatement must be filed with the City wn ten (10) business days of receipt of the notice. P. If applicant chooses not to apply for residential tax abatement at the time that the building permit is issued, or if the owner fails to respond to the written notice of availabty for residentiai tax abatement, the opportunity for residential tax abatement is waived. City staff shall make a record to reflect owner's election not to participate in the program or to M ocument that owner did not respond to City's notice of opportunity to participate in the residential tax abatement program. The refusal or waiver to participate in residential tax abatement by f or applicant shall be binding on subsequent owners of the real property, D. Applicant shall complete all forms and infDruiation. detailed above and submit all forms to the City of Paris Building Official. k, All information in the application package detailed above will be reviewed for completeness awt accuracy. Additional information may be requested as needed. If necessary, applicant will meet with City staff to discuss details of the application and to prepare presentation of the application to the City Council. 3. The application shall designate whether the structure is new or an existing structure and provide an esfimate of the value of improvements. 4, If Application for residential tax abatement is approved by staff, Applicant must enter into a tax abatement agreement with the City of Paris and as prepared by the City Attorney. 51 If the Applicant's property is not located within a designated reinvestment zone the application will be rejected and returned to Applicant. The City Council reserves the right to amend A{ of a reinvestment zone or to designate new reinvestment zones. The City Attorney uill be responsible for drafiing thic Residential Tax Abatement Agreement in accordance with state law and these Guidelines and Criteria.