2024-048 - 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

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PL -INFO -0007 (rev 08/24) TE XAS Where Texans Reach Higher propertV fails to make all the Residential improvements as provided in the Agreement regardless of how many dwelling units applicant builds. Compliance with all other City Requirements - The Applicant shall be fully responsible for compliance ificatly pertain to the with all zoning, subdivision platting, and building code requirements as may sped subject parcel(s) under the approved Agreement. The applicant shall be fully responsible for all such costs which may include, but not be limited to: Zoning Changes, Special Use Permits, Variances, Platting and Surveying Costs, Plan Preparation, and Building Permit Fees. V. PR APPLICATION EDURES _-WAREWW�M Qi.,_�. Applications for an Agreement with the City shall be reviewed for completeness. Incomplete Applications shall not be processed. City Staff shall determine whether the application satisfies guidelines and criteria. and Staff may request additlonal information or documents from Applicant. City Staff will make final recommendations on each application to the city Council. Any Applicant desiring approval of an Agreement shall comply with the following procedural guidelines, All applications -shall be evaluated on their own merits within the parameters of these Guidelines and Criteria. 1. Preliminary Application Steps Ar Applicant shall work with City Staff to Identify eligible City Trustee or other parcels within the definedgeographic area. City Staff will provide a list and corresponding maps from which City Trustee parcels may be reviewed. S. A notarized pre -approval letter must be attached to the application from Applicant's financial - I institution stating that the Applicant will have financial capital available to complete all new dwelling unit construction under the five (5) year Agreement with the City, Verification Of such financial capability will be reviewed over the course of the Agreement. Cr A complete legal description shall be provided with a copy of the current deed of the land, unless the parcel(s) are being transferred by deed without warranty by the City of Paris. D. Applicant shall complete all forms and information detailed above and submit all forms to the City of Paris Director of Planning and community Development. 2. All information in the application package detailed above will be reviewed for completeness and accuracy. Additional information may be requested as needed. if necessary, applicant will meet with City staff to discuss details of the application and to prepare presentation of the application to the City Council. welling(s) to be constructed are to be retained for S. The application shall designate whether the d ownership or sold to another owner upon completion of construction. The applicant shall also provide an estimate of the value of improvements* 4. if an application for the 5 in 5 Housing Infill Development Agreement is to be recommended for approval by staff, then an Agreement as defined herein with the City of Paris will be prepared by the City Attorney for approval by the City Council. 0 *11 be rejected. I on will 5. if the Applicant's property is not found to be eligible, the applicat, 6. The City Council reserves the right to amend these policies and guidelines as needed. W!M�