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1 <br />SECTION 7. Tax Abatement Agreement Requirements. All agreements for <br />abatement of taxes within Reinvestment Zone No. 2025-1 shall comply with Section <br />312.205 (a) of the Act and must: <br />(a) List the kind, number and location of all proposed residential improvements to <br />the property; <br />(b) Provide for access to the property and authorize inspection of the property by <br />municipal employees to insure that the improvements are made according to the <br />terms, conditions and specifications of the Agreement; <br />(c) Limit the uses of the property consistent with the general purpose of encouraging <br />the development and redevelopment of the Reinvestment Zone during the period <br />thatPPtyroertax exemptions are in effect; and <br />(d) Provide for recapturing property tax revenue lost as a result of the Agreement if <br />the owner of the property fails to make the improvements or maintain the <br />ias provided improvementsn the Agreement. <br />(e) Require the owner of the property to certify annually to the governing body that <br />the owner is in compliance with each applicable term of the Agreement; <br />(f) Provide that the governing body of the municipality may cancel or modify the <br />Agreement if the property owner fails to comply with the Agreement. <br />SECTION 7. Severability. That it is the intention of the City Council of the City of <br />Paris that this ordinance and every provision hereof, shall be considered severable, and the <br />invalidity or partial invalidity of any section,, clause, or provisions of this ordinance shall <br />not affect the validity of any other portion of this ordinance. <br />SECTION 8. Effective Date. This ordinance shall become effective from and after its <br />passage and publication as required by law. <br />PASSED AND ADOPTED this 27th day of January, 2025. <br />Mihir PaAaj, Mayor <br />