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Incentive Table
<br />IncentivesSingle-Family
<br />Duplex
<br />Multi -Family
<br />Low -Cost
<br />%/
<br />X
<br />X
<br />Residential Lots
<br />ax Abatement
<br />V5 -year at 100%
<br />3 -year at 100%
<br />3 -Year Decreasing
<br />Year 1: 100%
<br />ear 2: 75%
<br />50%Reduced
<br />Building
<br />..............
<br />x/100%100%
<br />_-
<br />for sprinkled
<br />rear:
<br />Plan Review
<br />building
<br />-OR-
<br />° sprinkled
<br />50% non - sprinkled
<br />building
<br />Reduced Permit
<br />V100%
<br />100% for sprinkled
<br />V25%
<br />Fees
<br />building
<br />OR -
<br />50% non -sprinkled
<br />building
<br />Reduced rates on
<br />__"
<br />**/25%25%
<br />V25%
<br />Water/Sewer tap
<br />fees (labor only)
<br />Low -Cost Sale of Foreclosed Properties _As part of their agreement, an Applicant may choose to purchase
<br />eligible properties that are in a state of tax foreclosure. These properties are available on a strictly first
<br />come, first serve basis and the City makes no warranty on having available properties for this incentive,
<br />nor will it maintain any type of waiting list for available properties. The City will work with the Lamar
<br />County, Paris Independent School District, and Paris Junior College to seek a low-cost sale of the
<br />foreclosed property, but the City can only guarantee a low cost of its share. As noted herein, the City will
<br />onl convesuch ro erties for the construction of sin le-famil homes.
<br />Tax Abatement --An Applicant who has satisfied all the criteria and guidelines for the low-cost property
<br />sale and residential tax abatement as set out herein, will be eligible for a tax abatement on each parcel
<br />on which a dwelling unit or units are constructed and completed in accordance with the foregoing table.
<br />The abatement will become effective on January 1st of the year following issuance of a Certificate of
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