2025-038 - Approving an Economic Development Agreement and Tax Abatement Agreement with Linda Cheney 5 in 5 Housing Infill Redevelopment Program

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Section 2. That the terms ofthe Economic Development Agreement and Tax Abatement Agreement between the city and Linda Cheney and the property the subject thereof meet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by Resolution No. 2075-0I0 and will lead to the economic development of the Program Area described in said Resolution No. 2025-025, Section 3. That the terms and conditions ofthe proposed Agreement attached hereto asExhibit Aand incorporated herein byreference, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things approved. Section 4.That the Mayor ishereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Pods substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit A. Section 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. Section 6. That this approval and execution o[the agreement oobehalf ofthe City is not conditioned upon approval and execution of any other tux abatement agreement byany other taxing entity. PASSED AND APPROVED hnthe City Council ofthe City ofParis, Texas atits regular meeting on the I 1th day of August, 2025. no Mihir Pankaj, Mayor City Attorney