08-26-2024 Agenda Packet - Laserfiche WebLink

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Item No. 15 Memorandum TO: Mayor, Mayor Pro -Tem and City Council Robert Vine, Interim City Manager FROM: Osei Amo-Mensah, Director Planning and Community Development SUBJECT: A Resolution of the City Council of the City of Paris, Texas Amending the 5 in 5 Housing Development Program; Authorizing the City to become eligible to participate in a residential housing tax abatement and approving Guidelines, Criteria and an Application Form for the program, making other findings and provisions related to the subject, and declaring an effective date. DATE: August 26, 2024 On March 11, 2024, the city imposed a moratorium on the Housing Infill 5 in 5 program to review the efficiency and effectiveness of the program. A 90 -day extension was granted June 10, 2024, for staff to further review the program and return to the City Council with appropriate amendments to the program. This extension will expire on September 7, 2024. TATUS OF ISSUE: Staff has conducted an internal review of the 5 -In -5 Program and made changes to the document in conjunction with the Housing Assessment to make the program become more successful and the process more efficient than ever before. To date there has been strong interest expressed in the program from builders we shared the initiative with. The following major changes/amendments were made to the 5 -In -5 Infill program document: 1. Lower limit to a single structure - allows for a "smaller' contractor/investor to participate in the program. 2. Setting a cap of 10 dwelling units per contract - limits conflicts with building and fire codes. 3. Reducing incentives for multi -dwelling units on same lot - encourages and promotes more single-family infill projects. 4. Restructured reduced permit/plan review/tap fees - reductions better correlate to staff workload.