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Regular Council Meeting June 24, 2024 Page 3 increasing the amount by $25,628.00 to be funded by the City from Paris Texas Pickleball. IL Authorize the expenditure of TIRZ Funds for the May 9, 2024, Texas Comptroller Office presentation in the amount of $87.27. 12. Approve a Maintenance Agreement with Moonlighting, Inc. in the amount of $10,000.00 for the maintenance of the plaza tree lights, with the term dates of October 1, 2023 to September 31; and authorize the City Manager to sign. 13. Approve a Water Meter Replacement Agreement with JB & L Utility Contractors in an amount not to exceed $48,000.00; and authorize the City Manager to sign. Re pular Agenda 14. Discuss and act on RESOLUTION NO. 2024-030: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, INITIATING THE DISANNEXATION PROCESS FOR FOUR PARCELS OF PROPERTY LOCATED ON OR AROUND COUNTY ROAD 22500 (LCAD#S 71112, 71113, 70422, AND 70423) WITHIN THE CITY LIMITS OF THE CITY OF PARIS AND SETTING PUBLIC HEARINGS REGARDING SAME; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. Deputy City Manager Robert Vine said that Nexus Renewable Power, LLC ("Nexus") on behalf of Robert Moore, the property owner, had submitted a petition to disannex four parcels of property located west of Paris, and parts of the property were inside the City. He also said that Nexus had leased the parcels from Mr. Moore as part of the MRG good Solar Project. Mr. Vine reported that the primary issue with disannexation of the proposed area as far as the City was concerned was loss of potential property tax revenue. Mr. Vine explained the estimated taxes on the parcels for the next 30 years was estimated between $307,267.00 and $768,167.00. He said that Nexus had proposed entering into an agreement where the City could disannex the property and Nexus would pay an agreed sum of three installments beginning 30 days after disannexation and ending 30 days after beginning of operations, anticipated to be in December of 2025. He also said in addition to, or in lieu of a portion of agreed upon taxes, Nexus was also open to developing of the proposed extension of the Trail de Paris that runs through the property. Mr. Vine reported that Nexus had estimated the 2026 taxable value of parcels after installation of the Project at $15,800,000.00 and depreciating to $3,713,000.00 by year ten. City Attorney Stephanie Harris reviewed the timeline should Council wish to undertake disannexation proceedings with respect to this property. Saragon Daniel spoke on behalf of the Project. He said they bought the land in 2012, and had developed solar all over Texas. He said the agreement they were proposing to the City, would keep the City tax revenue neutral. Mr. Daniel answered questions from City Council about benefits of disannexation, distance from other property owners, liability insurance and benefits to Chisum ISD.