2024-038 - Amending the Guidelines & Criteria for the 5 In 5 Housing Infill Development Program

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RESOLUTION NO. 2024-038 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS AMENDING THE GUIDELINES AND CRITERIA OF THE 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on February 10, 2020, the City Council of the City of Paris, Texas passed Ordinance No. 2020-005 creating Reinvestment Zone 2020-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council passed Resolution No. 2022-003 stating its intent to establish the 5 In 5 Housing Infill Development Program (hereinafter "the Program"), including such incentives as low cost land sales and residential tax abatements, and adopting guidelines and criteria for the Program; and WHEREAS, in Resolution No. 2022-003, City Council designated an area within Reinvestment Zone 2020-1 (the "Program Area") as being eligible for the Program; and WHEREAS, on July 25, 2022, the City Council approved Resolution No. 2022-055 expanding the Program to allow properties immediately adjacent to the Program Area to be eligible to participate; and WHEREAS, on August 28, 2023, Council approved an agreement with Catalyst Commercial, Inc. for a Housing Assessment to determine particular housing needs in the city; and WHEREAS, although the Program has been very successful, and the city has entered into agreements with several developers under the guidelines thereof, on March 11, 2024, staff requested, and City Council agreed to, a 90 day moratorium for new agreements under the Program so that staff could review existing guidelines and incentives in light of the results of the Housing Assessment, which results were expected to be delivered within the moratorium period; and WHEREAS, on June 10, 2024, staff requested, and City Council agreed to, extend the moratorium for an additional 60 days due to the final report on the Housing Assessment's not having been delivered until towards the end of the original 90 day period; and WHEREAS, having reviewed the results of the Housing Assessment and taking into consideration the city's experiences with the workings of the Program to date, staff has presented revised Program criteria and guidelines for Council's consideration; and WHEREAS, City Council has reviewed the proposed revised guidelines and criteria for the Program and find said revisions to be in the best interest of the city and its residents;