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V1. LEGAL DOCUMENTATION PREPARATION <br />PL -INFO -0007 (rev 05/12/25) <br />The Director ofPlanning and Community Development and the City Attorney will he responsible for <br />drafting the required Agreement in accordance with state law and this Policy. <br />The legal document will include the following: <br />1. Estimated value #fnew structure or residential improvements to be constructed. <br />2. Total amount of value to be abated depending on the terms of the Agreement. <br />3. Effective date and the termination date ofabatement. <br />4. Description of the Residential Improvements, schedule of completion, property description, all <br />required City approval requirements and a platted lot site plan orsketch ofthe parceKsJto be platted <br />and developed. <br />5. Applicant agrees to make the new structure or residential improvements available for inspection 6y <br />City ofParis, orits authorized representatives, and Lamar County Appraisal District (LCAD)du[ing <br />construction and upon completion 0fthe project. <br />6. Contractual obligations in the event of default, violation of terms or conditions, delinquent taxes, <br />recapture and administration. <br />7. A signed and notarized statement as an attachment to the application agreeing to construct the new <br />five (5) dwelling units on one (1) or more parcels within five (S)years from the date ofCity Council <br />approval of an Agreement, unless extended by the City Council, or consenting to a||ovv the City to <br />automatically take back the parcel(s) under the initial terms of an approved agreement. <br />Page 7 of 7 <br />