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Section 2. That the terms of the Economic Development Agreement and <br />Tax Abatement Agreement between the city and R4U Ventures, LLC and the <br />property the subject thereof meet the City's Guidelines and Criteria for Tax <br />Abatement adopted by the City of Paris by the resolution set forth in Exhibit 1 to <br />Exhibit A hereto and will lead to the economic development of the Program <br />Area. <br />Section 3. That the terms and conditions of the proposed Agreement <br />attached hereto as Exhibit A and incorporated herein by reference, having been <br />reviewed by the City Council of the City of Paris and found to be acceptable and <br />in the best interests of the City of Paris and its citizens, be, and the same are <br />hereby, in all things approved. <br />Section 4. That the Mayor is hereby authorized to execute the <br />Agreement and all other documents in connection therewith on behalf of the City <br />of Paris substantially according to the terms and conditions set forth in the <br />Agreement attached hereto as Exhibit A. <br />Section 5. That the planned use of the property the subject of the tax <br />abatement will not constitute a hazard to public safety, health, or morals. <br />Section 6. That this approval and execution of the agreement on behalf <br />of the City is not conditioned upon approval and execution of any other tax <br />abatement agreement by any other taxing entity. <br />PASSED AND APPROVED by the City Council of the City of Paris, Texas <br />at its regular meeting on the 22nd day of June, 2026. <br />M it ankaj, Mayor <br />ATTEST: <br />Janice Ellis,Cit Clerk A. �r{y hr <br />... it'- <br />..._ <br />y � +y Gl�r <br />APPROVED AS TO FORM: <br />Step anie H. Harris, City Attorney <br />