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RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH TOWER GUARD CONSTRUCTION & DEVELOPMENT, LLC PURSUANT TO 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 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 of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter "the Program") including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program; and WHEREAS, by Resolution 2022-003, City Council designated an area within Reinvestment Zone 2020-1 as being eligible for the Program; and WHEREAS, on April 10, 2023, the City Council approved resolution 2023-018 re -authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criteria for the residential tax abatement program; and WHEREAS, the Program has additional criteria and guidelines for participation therein, including criteria and guidelines for eligibility for residential tax abatements; and WHEREAS, on August 26, 2024, City Council, by Resolution No. 2024-038, revised the guidelines and criteria for the Program; WHEREAS, Owner has submitted an application for a 5 In 5 Housing Infill Development project to construct six (6) single family homes on the properties described herein below in Paris, Texas (hereinafter "Improvements"); and WHEREAS, city staff has reviewed the application and the location of the above described residential Improvements and has determined that the properties are located within the boundaries of the defined geographic area and Reinvestment Zone 2020-1 and meet the requirements for Improvements set forth in the guidelines and criteria for the Program as set forth in City Resolution No. 2024-038. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes.