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11 - Economic Development & Residential Tax Abatement Agreement with Invest Fannin, LLC - 5 In 5 Program
City-of-Paris
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02 - FEBRUARY
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02-12-2024
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11 - Economic Development & Residential Tax Abatement Agreement with Invest Fannin, LLC - 5 In 5 Program
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f <br />PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED <br />THE SUBJECT; DECLARING AN <br />WHEREAS, after .; public hearing on January <br />TexasCity of Paris, passed <br />DevelopmentIn 5 Housing In -Fill Program. <br />cost land sales and residential tax abatements and adopting guidelines1' 1,'. d <br />WHEREAS, by Resolution 2022-003, City Council . '1 an area within <br />Reinvestment Zone 0" being eligible for the Program;and <br />WHEREAS, <br />guidelinesand <br />WHEREAS,RM1M#TXKFz9"T <br />+ 1'2024- <br />002 re -authorizing the City to become eligible to <br />participate in residential tax <br />abatements and 1 1 and criteria for residential <br />specificallyrelated to the Program; <br />WHEREAS, <br />" purchased <br />" 1" .1.rty to construct five . , <br />duplexes/structurestotal +" the . <br />herein below in Paris, Texas (hereinafter ("Improvements"); and <br />WHEREAS, the properties are Reinvestment 2020-1 and <br />within the area set forth in the Program; <br />WHEREAS,rt' application1," a 5 In 5 Housing <br />applicationDevelopment Program project in accordance with the above; and <br />WHEREAS, city staff has reviewed the 1 <br />describedabove proposed 1"., <br />definedand has determined that the properties are located within the boundaries of the <br />geographic quirements for Improvements <br />
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