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1-7117 -0FART December 8, 2025 Page 4 Ms. Harris said 30 years was the max but it could be in 5 so long as the debt on the project was paid in full. Mayor Pankaj opened the public hearing and asked for anyone wishing to speak about this item, to please come forward. With no one speaking, Mayor Pankaj closed the public hearing. A Motion to approve this item was made by Council Member Ellis and seconded by Council Member Putnam. Motion carried, 5 ayes — 0 nays. 20. Discuss and act on RE -SOLUTION NO. 2025-055: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH NUTHOUSE CONSTRUCTION, 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. City Planner Osei Amo-Mensah said the applicants planned to build up to a total of five single-family dwellings. He said Staff had reviewed the application and determined the properties were within the Program Area and the proposed improvement met the criteria for the Program. A Motion to approve this item was made by Council Member Putnam and seconded by Council Member Ellis. Motion carried, 5 ayes — 0 nays. 21. Convene into executive session pursuant to Section 551.087 of the Texas Government Code, (1) to discuss or deliberate regarding commercial or financial information the governmental body has received from a business prospect the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect prescribed by Subdivision (1), as follows: Westgate Apartments. Mayor Pankaj convened City Council into executive session at 5:50 p.m. 22. Convene into open session and possibly take action on those matters discussed in executive session. Mayor Pankaj reconvened City Council into open session at 6:05 p.m. and said there was no action to be taken. 23, Consider and approve future events for City Council and/or City Staff pursuant to Resolution No. 2004-081. There was no reference of future events.