2025-026 - Authorizing an Economic Development Agreement and Tax Abatement Agreement with EXL Capital Group (Jakir Malek) – 5 in 5 Housing Infill Development Program

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PL -INFO -0007 (rev 05/12/25) 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM GUIDELINES, CRITERIA & APPLICATION FORM CITY OF PARIS, TEXAS Revised M@3L1;L 2025 -1. GENERAL PURPOSE AND OBJECTIVES The City of Paris, working with our local government partners, is seeking to provide a series of builder incentives designed to encourage new home construction for the purpose of neighborhood revitalization and the provision of work force housing. New home construction within the existing interior of the community can have a positive effect towards reinvestment in our neighborhoods by providing stability and enhanced character, as well as a means to expand our community's local labor force. Focusing on the existing interior of the City allows the builder to utilize existing infrastructure rather than the extension of costly streets and utilities in undeveloped lands at or beyond the urban fringe. The City further seeks to ensure that new construction within the Program Area and undertaken in connection with the Program is consistent with existing housing within the neighborhood in which it is being built so as to provide for a pleasant aesthetic for both current and new residents in the area. To achieve this purpose, the City will offer a series of incentives depending on the type of housing to be constructed (see Section IV herein): 1. The City will provide low cost residential lots in the Program Area in tax foreclosure city receivership to Applicants for the construction of single-family homes. This incentive is available only for the construction of single-family homes. if an Applicant obtains properties through other traditional means within the Program Area, other incentives within this policy may apply. 2. The City will offer three (3) to five (5) year residential tax abatements of City property taxes attributable to constructed improvements depending on housing type and as reflected in Section IV herein. 3. The City will offer reduced rates on building plan review and permit fees as reflected in Section IV herein. 4. The City will offer reduced rates on labor charges on water and sewer tap fees as reflected in Section IV herein. The city staff will work with interested builders to identify parcels from a pool of tax sale lots in trustee status to develop a list of properties that will be suitable for the construction of new dwelling units. This may consist of single-family, two-family, medium density, or high-density residences. Prior to any construction occurring from which the builder is seeking incentives, the Applicant will enter into an Agreement to be approved by the City Council for the new construction of residential dwelling units on one (1) or more parcels. Each of the dwelling units subject to the Agreement must be constructed under the terms of the agreement within five (5) years from the date of the Agreement, unless such deadline is extended by subsequent approval of the City Council or unless the City and Applicant agree to a shorter period of time, which deviation shall be reflected in the Agreement. All parcels under the Agreement must Page 1 of 7 . <� r%/ /N /