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'B&K1q <br />Where Texans Reach Higher <br />IV. Incentives—The incentives set forth above are available as follows: <br />PL -INFO -0007 (rev 05/12/25) <br />Incentive Table <br />Incentives <br />Ingle -Family <br />Duplex <br />Multi -Family <br />Low -Cost <br />V <br />Residential Lots <br />ax Abatement5- <br />Y ear at 100% <br />3- ear at 100% <br />y <br />V 3 -Year Decreasing <br />Year 1:100% <br />Year 2: 75% <br />Year 3: 50% <br />Reduced Building <br />100% <br />100% for sprinkled <br />Plan Review <br />building <br />OR - <br />50% non -sprinkled <br />building <br />Reduced Permit <br />✓100% <br />Fees <br />100% for sprinkled <br />25% <br />building <br />-OR- <br />50% non -sprinkled <br />building <br />Reduced rates on <br />25% <br />25% <br />**/25% <br />Water/Sewer tap <br />ees <br />Low -Cost Sale of Foreclosed Properties -As part of their agreement, an Applicant may choose to purchase <br />eligible properties that are in a state of tax foreclosure. These properties are available on a strictly first <br />come, first serve basis and the City makes no warranty on having available properties for this incentive, <br />nor will it maintain any type of waiting list for available properties. The City will work with the Lamar <br />County, Paris Independent School District, and Paris Junior College to seek a low-cost sale of the <br />foreclosed property, but the City can only guarantee a low cost of its share. As noted herein, the City will <br />only convey such properties for the construction of single-family homes. <br />Tax Abatement - An Applicant who has satisfied all the criteria and guidelines for the low-cost property <br />sale and residential tax abatement as set out herein, will be eligible for a tax abatement on each parcel <br />on which a dwelling unit or units are constructed and completed in accordance with the foregoing table. <br />Page 4 of 7 <br />P.O. BOX 9037 - PARIS, TX 75461-9037 - 903-78S-7511 - FAX 903-785-8519 • PARISTEXAS_GOV <br />