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THE STATE OF TEXAS <br />COUNTY OF LAMAR <br />ECONOMIC DEVELOPMENT AND RESIDENTIAL TAX ABATEMENT AGREEMENT <br />This Economic Development and Residential Tax Abatement Agreement <br />(hereinafter the Agreement) is entered into by and between the CITY OF PARIS, <br />TEXAS, a home rule municipality situated in Lamar County, Texas, acting by and <br />through its authorized officer whose signature appears below (hereinafter called City), <br />and R4U VENTURES, LLC (hereinafter referred to as Owner). <br />WITNESSETH: <br />WHEREAS, on January 27, 2025, the City Council passed Ordinance No. 2025- <br />003 creating Reinvestment Zone 2025-1, designating certain areas inside the city limits <br />to be eligible for the Residential Tax Abatement Program; and <br />WHEREAS, after a public hearing on January 10, 2022, the City Council of the <br />City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In <br />5 Housing In -Fill Development Program (hereinafter the Program) including low cost <br />land sales and residential tax abatements and adopting guidelines and criteria for the <br />Program; and <br />WHEREAS, by Resolution 2022-003, City Council designated an area within <br />Reinvestment Zone 2025-1 (then known as Reinvestment Zone 2020-1) as being <br />eligible for the Program (the Program Area); and <br />WHEREAS, City Council has revised the guidelines and criteria for the Program <br />and for tax abatement agreements granted thereunder three times, the most recent <br />revisions adopted by Resolution 2025-025 on May 12, 2025; and <br />WHEREAS, Owner has submitted an application for a 5 In 5 Housing Infill <br />Development project to construct ten (10) single family homes (hereinafter the <br />Improvements) at the properties described herein below in Paris, Texas (the <br />Properties); and <br />WHEREAS, city staff has reviewed the application and the location of the above <br />described residential Improvements and has determined that the Properties are located <br />within the boundaries of Reinvestment Zone 2025-1 and are within the defined <br />geographic area of the Program Area, and the application meets the requirements for <br />Improvements set forth in the Guidelines and Criteria for the 5 In 5 Housing Infill <br />Development Program as set forth in City Resolution No. 2025-025. <br />NOW, THEREFORE, in consideration of the terms and conditions referenced <br />herein, and other good and valuable consideration, the receipt and sufficiency of which <br />