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MemorandumAgenda Item No. 17 TO: Mayor & City Council Rose Beverly, City Manager FROM: Osei Amo-Mensah, Director, Planning & Community Development SUBJECT: Economic Development and Residential Tax Abatement Agreement with EXL Capital Group, LLC. DATE: June 09, 2025 BACKGROUND: EXL Capital Group, LLC (the Developer) has applied for an Economic Development and Residential Tax Abatement Agreement under the 5 in 5 Housing Infill Development Program (the Program) to build 4 single-family homes' on the following properties, known as City of Paris Trustee and Lamar County Trustee properties: • LCAD- 13833, 128 NE 10th St., City of Paris Block 32-13, Lot 10 (City) • LCAD- 13802, 203 NE 13th St., City of Paris Block 32, Lot 7 (County) • LCAD- 10706, 1758 W. Shiloh, Colonial Addition Block 5, Lot 10 (City) • LCAD- 10707, W. Shiloh, Colonial Addition Block 5, Lot 11 (City) STATUS OF ISSUE: Staff has reviewed the application and determined that the properties are within the Program Area, and that the proposed improvements meet the criteria for the Program. The proposed agreement, attached hereto, provides incentives under Chapter 380 of the Texas Local Government Code relating to tap fees, building plan review, and permitting as well as a residential tax abatement under the authority of Texas Tax Code Chapter 312. There will be a transfer of city trustee properties and a county trustee property. All incentives are provided in the Program guidelines and criteria. Notice of the Council's consideration of the tax abatement was duly posted at least 30 days prior to this meeting as required by law. BUDGET: The estimated cost of the improvements is $130,000.00-$150,000.00 per unit. Discounts on the fees described above. The tax abatement will have negligible budgetary impact 1 The applicant also requested LCAD parcel number LCAD- 13867, 1405 E. Houston, City of Paris Block 33-A, Lot 7 upon which it hoped to build and additional single -home. This parcel was a county trustee property which had sold in an earlier tax sale, so it was unavailable for inclusion in this agreement.