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Regular Council Meeting June 9, 2025 Page 5 19. Discuss and act on RESOLUTION NO. 2025-028: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH R4U VENTURES, 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 R4U Ventures 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 Council Member Moore and seconded by Council Member Ellis. Motion carried, 7 ayes — 0 nays. 20. Discuss and act on RESOLUTION NO. 2025-029: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH THE MAGNOLIA PARIS, 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 Magnolia Paris had applied for an Economic Development and Residential Tax Abatement Agreement under the 5 in 5 Housing Infill Development Program to build 3 duplexes, for a total of 6 dwelling units. 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. 21. Discuss, receive bids, and award a contract to Pridemore Construction, LLC in the amount of $301,2433.50, for the 7t" Street SW Reconstruction Project, and authorize the City Manager to execute all necessary documents. Mr. Mittge explained that the City has partnered with Fikes Wholesale to rebuild 71, Street SW into a concrete roadway. He said that the asphalt roadway would not support the heavy truck traffic. He said that Fikes had agreed to split the cost 50150 with the City to get this project done. Mr. Mittge also said that they received three bids and staff recommended Pridemore in the amount of $301,243.50.