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12 - Reauthorizing the City to participate in Residential Tax Abatements related to the 5 In 5
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01-08-2024
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12 - Reauthorizing the City to participate in Residential Tax Abatements related to the 5 In 5
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RESOLUTION NO. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS <br />REAUTORIZING THE CITY TO BECOME ELIGIBLE TO PARTICIPATE IN <br />RESIDENTIAL TAX ABATEMENTS RELATED TO THE 5 IN 5 HOUSING <br />INFILL REDEVELOPMENT PROGRAM AND READOPTING THE <br />GUIDELINES AND CRITERIA RELATED TO SAME; MAKING OTHER <br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />DECLARING AN EFFECTIVE DATE. <br />WHEREAS, Sec. 312.002 of the Texas Tax Code requires local taxing entities to state their <br />intent to participate in abatement agreements and to adopt guidelines and criteria for granting tax <br />abatements; and <br />WHEREAS, on October 14, 2013 in Ordinance No. 2013-036, the City Council designated <br />Reinvestment Zone No. 2013-1 for residential tax abatements; and <br />WHEREAS, on February 9, 2015, the City Council passed Ordinance No. 2015-002 amending <br />Reinvestment Zone 2013-1 for Residential Tax Abatements to expand it to include all Council <br />Districts in the City and designated the new reinvestment zone as Reinvestment Zone No. 2015-1; <br />and <br />WHEREAS, in 2021, City Council re -authorized Reinvestment zone 2015-01 and renamed it <br />Reinvestment Zone No. 2020-1; and <br />WHEREAS, by Resolution No. 2022-003, on January 10, 2022, City Council adopted the 5 in <br />5 Housing Infill Redevelopment Program (the "Program"), including guidelines and criteria for <br />residential tax abatements within the designated Program area, which area falls within <br />Reinvestment Zone 2020-1; and <br />WHEREAS, City Council revised said guidelines and criteria on July 25, 2022 in Resolution <br />2022-055; and <br />WHEREAS, pursuant to Texas Tax Code Sec. 312.002(c), guidelines and criteria for tax <br />abatements are effective for two years from the date adopted; and <br />WHEREAS, the City Council continues to desire to participate in a residential tax abatement <br />program related to the Program; and <br />WHEREAS, on January 8, 2024, the City Council held a public hearing on the reauthorization <br />of the Program and readoption of the guidelines and criteria therefor as required by law, and after <br />considering any testimony offered therein, wishes to reauthorize participation in the Program and <br />to reauthorize the guidelines and criteria therefor; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all things <br />approved and are incorporated herein for all purposes. <br />
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