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Is .'99�KTEXAS Where lexans Readi H�gher MRMNi## #�� The abatement will become effective on January Ist of the year following issuance of a Certificate of Completion following final construction inspection. As provided in the Act, a tax abatement may only be granted for the value of the Residential Improvements which exceed the base year value of the property and which are listed in an Agreement between the City of Paris and the applicant, subject to such limitations as the City of Paris may require. The base value will be set as of January Ist of the year in which the Agreement is executed. Upon completion of construction, the Applicant shall provide a copy of all within the City of Paris when possible. The tax abatement is available only for improvements made after the execution of the Agreement. The Agreement may not be approved by the City Council until at least thirty (30) days after notice of the consideration and possible action on the Agreement has been posted. Fats fxr ByRfing Plain Raview-a-mv--Permu - --A.��#i:eeA&Abiretycelfr?tes-ffir building plan review and permit fees as referenced in the Incentive Table. Reduced Fees for Water & Sewer Tap Labor - The Applicant will be entitled to reduced rates for wat -dtrd-'dVf Table for all new dwelling units under agreement with the City. Claw Back Provision - The Applicant who enters into an Agreement with the City of Paris shall constru,M V aa-tc Agreement, or a within a shorter time if agreed to by the parties and reflected in the Agreement, or t City shall have the right to automatically take back any undeveloped parcel under the terms of t i trwr4prof t4,p WIX all t2 i recorded with or as a nart I, Y IT MeMOMMY-71-V - - I•I the property. The Applicant may request approval of an extension for such failure to construct a ne he Citv Couni under a subsequent revised agreement. Parcels under the agreement cannot be sold or assigned another individual except by prior approval and re -assignment of the parcel(s) and approval of a ne agreement by the City Council. Failure to meet the requirements of constructing the agreed upon ne dwelling -units within the required period will result in a reversion of all parcels upon which Residentil ineligible to participate in this program in the future. As a further claw back provision, and in accordance with Texas Tax Code Sec. 312.205, the Agreement shall provide for recapturing property tax revenue lost as a result of the agreement if the owner of the many dwelling units applicant builds. Compliance with all other City Requirements - The Applicant shall be fully responsible for compliance with all zoning, subdivision platting, and building code requirements as may specifically pertain to the q4 %.?P A, J*"%1_4gt;aW w.1Wt_f o _r7ALiw_h_ikMW which may include, but not be limited to: Zoning Changes, Special Use Permits, Variances, Platting and wiurveying Costs, Plan Preparation, and Building Permit Fees. ............ ....... ... � �71§ 7$ . ..... ... ... ...