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Regular Council Meeting June 9, 2025 Page 4 service payment would be around $690,000.00 for seven years starting September 30, 2026, and this would be added to the Interest and Sinking portion of the tax bill. Ms. Beverly answered questions from City Council. A Motion to approve this item was made by Mayor Pro -Tem Savage and seconded by Council Member Norment. Motion carried, 7 ayes — 0 nays. 16. Receive presentation from Todd Mittge about the Engineering Department. City Engineer Todd Mittge reviewed responsibilities of his department, which included the current 7"' Street SW concrete reconstruction project, the Is' Street SE project, intake and review of plats, the geographic information systems, and flood plain administration and drainage. 17. DISCUSs and act on RESOLUTION NO. 2025-026: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH EXL CAPITAL GROUP, LLC PURSUANT TO THE 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. Director of Planning & Community Development Osei Amo-Mensah reported that EXL Capital Group had applied for an Economic Development and Residential Tax Abatement Agreement under the 5 in 5 Housing Infill Development Program to build 4 single-family homes. He said staff reviewed the application and determined that the properties were within the program area, and the proposed improvements met the criteria for the program. A Motion to approve this item was made by Council Member Putnam and seconded by Mayor Pro -Tem Savage. Motion carried, 7 ayes — 0 nays. 18. Discuss and act on RESOLUTION NO. 2025-027: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH INVEST LAMAR, LLC PURSUANT TO THE 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. Mr. Amo-Mensah reported that Invest Lamar had applied for an Economic Development and Residential Tax Abatement Agreement under the 5 in 5 Housing Infill Development Program to build 10 single-family homes. He said staff reviewed the application and determined that the properties were within the program area, and the proposed improvements met the criteria for the program. A Motion to approve this item was made by Mayor Pro -Tem Savage and seconded by Council Member Nornient. Motion carried, 7 ayes — 0 nays.