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Regular Council Meeting February 12, 2024 Page 3 Re pular A Brenda 9. Convene into Executive Session pursuant to Section 551.071 of the Texas Government Code, Consultation with Attorney, to receive legal advice from the City Attorney about (1) pending or contemplated litigation and/or (2) on matters in which the duty of an attorney to her client under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflict with this chapter, to -wit: City of Paris v. Essent PRMC. Mayor Hughes announced that this item would need to be tabled until February 26 and asked for a Motion. A Motion to table this item until February 26 was made by Council Member Kessel and seconded by Council Member Pilgrim. Motion carried, 4 ayes — 0 nays. 10. Reconvene into open session and possibly take action on those matters discuss in Executive Session. 11. Discuss, conduct a public hearing and act on RESOLUTION NO. 2024-014: A RESOLUTION APPROVING A RESIDENTIAL TAX ABATEMENT AGREEMENT WITH INVEST FANNIN, LLC, AS PART OF THE 5 IN 5 HOUSING INFILL REDEVELOPMENT PROGRAM, FOR GIBBONS BRADEN ADDITION BLOCK 16, LOT 5A, GIBBONS BRADEN ADDITION BLOCK 16, LOT 5A; AND LOVETTE ADDITION BLOCK 281, LOT 6, PURSUANT TO THE TEXAS GOVERNMENT CODE CHAPTER 2303 AND TEXAS TAX CODE SECTION 312.2011. Deputy City Manager Rob Vine gave a brief summary of the proposed agreement and then introduced City Attorney, Stephanie Harris to present the agreement. Ms. Harris stated the agreement came with incentives under Chapter 380, which related to permitting, sewer tap fees and residential tax abatement as set forth in the agreement. She said the property was within the zone required for the 5 in 5 development and all incentives were included. Zach Bergenholtz, owner, stated that Invest Fannin, LLC had been involved in construction since 1994, and was a father and son team who had dealt with commercial construction, new home builds, remodeling, and land development. He also said the company had been acquiring privately owned land for development in Paris, and was actively purchasing additional properties. He stated that this morning the company had received direction to proceed with two Lamar County trustee sites that would include 18-20 new units in west Paris on Northwest 71' Street. He stated that the company was excited and committed to build in Paris and look forward to help fill the void of needed homes. He also said Invest Fannin, LLC's goal was to build 20 units in Paris this year, and 50 additional units the following year. Mr. Bergenholtz said that today's discussion included privately owned properties in Paris that they had purchased to build 10 dwelling units under the 5 in 5 program, and anticipated to begin construction in spring of 2024, with the 17th Street Southeast project being the first project.