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Item No. 13 <br />TO: Mayor, Mayor Pro Tem and City Council <br />Rob Vine, Interim City Manager <br />FROM: Osei Amo-Mensah, AICP Director Planning & Community Development <br />SUBJECT: Tower Guard Construction & Development, LLC - 5 In 5 Housing Infill <br />Development Agreement in City of Paris, which Properties are within <br />Reinvestment Zone No. 2020-1 and within the area set forth in the Program: <br />LCAD- 16208, 345 W. Sherman, City of Paris Lot 3, Block 136 <br />• LCAD-16209, 335 W. Sherman, City of Paris Lot 4, Block 136 <br />LCAD-18832, 3050 W. Campbell, City of Paris Lot 1, Block 326 <br />LCAD- 13041, 40 NW 31st, Mayer Addition Lots 3 and 4, Block 2 <br />MTG. DATE: November 12, 2024 <br />BACKGROUND & DISCUSSION <br />Attached please find the draft agreement between the City and Tower Guard Construction & <br />development for the construction of six (6) single family homes on the above-described property <br />locations in the 5 In 5 Area. The agreement spells out all the requirements under 5 In 5 Infill <br />development Program Guidelines. The applicant proposes to begin construction January 2025 and <br />complete by December 2026. Kyle and Megan Towery of Tower Guard Construction & <br />Development LLC plan to attend the meeting on Monday night and present their building plans <br />under the agreement to the City Council. <br />RECOMMENDATION <br />Approve the Resolution authorizing an Economic Development Agreement and Tax Abatement <br />with Tower Guard Construction & Development, LLC <br />Page 1 <br />