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MERTZ WIOMFG�� Re built upon within five (5) years to satisfy the terms of the Agreement. Failure to achieve this goal will rlvw nrovided in the ARreement. All glications shall be considered on a first come, first serve basis, anai ne (My 711 nTrT this program for occupants of the dwelling units, whether owner or renter occupied. In the event the applicant constructs a new dwelling unit and sells said unit, the tax abatement shall lapse and be terminated as to that parcel unless the City Council approves an assignment of the tax abatement agreement to the new owner. in order to further encourage local development, employment, and enhancement of our economy, to be eligible for incentives in this policy, building materials and fixtures used in the construction of new dwelling units, where possible, must be purchased locally within the City of Paris. n11�31a1J9MJ0t111,1UJ&1 I Act - The Property Redevelopment and Tax Abatement Act, Texas Tax Code Ann, 312.001 et. seq., as amended from time to time. Agreement - A contractual agreement between an applicant and the City of Paris for the purposes of a 5 In 5 Housing Infill Development Program to include an economic development agreement pursuant to Chapter 380 of the Texas Local Government Code and a residential tax abatement agreement pursuant to the Act. An Active Agreement is an Agreement under which the Applicant has not yet completed all the improvements required therein. Applicant - An owner, proposed owner, builder or authorized agent of the owner of eligible property seeking an agreement under this policy. Eligible Property - Property located in the defined Program Area and immediately Adjacent thereto, whether foreclosed on due to taxes or not. Also, property located outside the Program Area if foreclosed on due to taxes. A. including property across a street or intersection or located diagonally therefrom. MM- - - =-- - . raTUM WMMM3Vff#B�U' I�WMT OMMA! which is placea M10 Me KJY ffltdnS an existing substandard or condemned structure. Neighborhood Uniformity – Consistency or similarity in the characteristics of homes, properties, a" overall design within a specific neighborhood, primarily concerned with maintaining consistency ane cohesion in architectural styles within a given street, block or larger area. Program Area - An area depicted in "Exhibit B" of the approved resolution for the 5 In 5 Housing Infill Development Program, which area is wholly within the boundaries of Reinvestment Zone 2020-1 for the purpose of residential taxa atements. M111 W11, g// irr u qpq WE/, /,ww mg "M 7,7p7 WINIMMAIMM FIT RIM 771-11)M�,�,,- REMOVE //g/ /M ,7 V Lwy/m/ '11111"�"Ill�,"I�ll,",$��lljll��"I'��', '�",M;/- /--p g/m mg, / I INIM/1 %4/ Q_ ME/,rr