2026-018 - Approving a Professional Services Agreement with Lone Star Developments, LLC regarding TIRZ No. 2 (Forestbrook Blvd)

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PROFESSIONAL SERVICES REIMBURSEMENT AGREEMENT This Reimbursement Agreement (this "Agreement"), effective as of the day of , 2026, (the "Effective Date"), is made and entered into by and between The City of Paris, Texas ("City") and Lone Star Planned Developments, LLC, a Texas limited liability company ("Owner"), here.n collectively referred to as ("Party" or "Parties"). WHEREAS, Owner owns the majority of approximately 240.6 acres of contiguous land (the "Property") in the Scutheast part of the City upon which Owner has developed the first phase of a residential subdivision called Forestbrook Estates ("Forestbrook"); and WHEREAS, City's Master Thoroughfare PIan calls for the construction of an arterial street (the "Street") through the Property to the north of Forestbrook connecting Southeast Loop 286 to Collegiate Drive; and WHEREAS, the Parties hereto wish to collaborate to enable the financing and construction of the Street so as to encourage further residential and commercial and retail development in the Southeast part of the City; and WHEREAS, to that end, on or about December 8, 2025, in Ordinance No. 2025-028, (the "Ordinance"), the City Council of City created Tax Increment Reinvestment Zone No. 2 (the "TIRZ") comprising the Property to help finance the construction of said Street; and WHEREAS, the Parties hereto recognize that the City will continue to incur expenses through the entire TIRZ review process until through the life of the TIRZ ("City Expenses") including but not limited to: professional services, legal publications, notices, reproduction of materials, recording of documents, engineering fees, attorney fees, special consultant fees, and fees for administrative tirr-e of City staff; and WHEREAS, as a part of the City Expenses, the Owner hereby agrees to pay for reasonable and necessary professional services provided by the consultants listed onx i it fl, and by additional consultants approved in writing by the Owner (collectively, the "City Consultants"); NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. Payment for Professional Services. The Owner shall deposit with the City $25,000.00 for payment of City Expenses necessary to conduct the review and creation of the TIRZ final Financing and Project Plans within ten (10) days of receipt of request by the City: (a) City agrees to hold all Owner' s contributions in a separate fund maintained by the City which may only be used for City Expenses related to the TIRZ. 4871-0204-2326M