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18 - Economic Development & Residential Tax Abatement - PW Investments-M I , Item No. 18 TO: City Council Grayson Path, City Manager FROM: Stephanie H. Harris, City Attorney SUBJECT: Economic Development and Residential Tax Abatement Agreement with PW Investments, LLC DATE: March 25, 2024 BACKGROUND: PW Investments, LLC (the Developer) has applied for an Economic Development and Residential Tax Abatement Agreement under the 5 in 5 Housing Infill Development Program (the Program) to build a multifamily structure comprising 7 dwelling units on the following property the Developer currently owns: • LCAD- 17210, City of Paris Block 199, Lot S of 2, located on 1610 Bonham St STATUS OF ISSUE: Staff has reviewed the application and determined that the property is within the Program Area, and that the proposed improvements meet the Program criteria. The proposed agreement, attached hereto, provides incentives under Chapter 380 of the Texas Local Government Code relating to tap fees, building plan review, and permitting as well as a residential tax abatement under the authority of Texas Tax Code Chapter 312. There is no transfer of city trustee properties. All incentives are provided in the Program guidelines and criteria. Notice of the Council's consideration of the tax abatement was duly posted at least 30 days prior to this meeting as required by law. BUDGET: Discounts on the fees described above. The tax abatement will have negligible budgetary impact as the abatement will apply only to the incremental value to taxable value attributable to the required improvements on otherwise undeveloped property. RECOMMENDATION: Staff recommends adopting a resolution approving the attached 5 in 5 agreement with Invest Fannin, LLC. RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH PW INVESTMENTS, 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. WHEREAS, on February 10, 2020, the City Council passed Ordinance No. 2020-005 creating Reinvestment Zone 2020-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter "the Program") including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program; and WHEREAS, by Resolution 2022-003, City Council designated an area within Reinvestment Zone 2020-1 as being eligible for the Program; and WHEREAS, on July 25, 2022, City Council, by Resolution 2022-055, revised the guidelines and criteria for the Program; and WHEREAS, on April 10, 2023, the City Council approved resolution 2023-018 authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criteria for a residential tax abatement program; and WHEREAS, on January 8, 2024, the City Council approved resolution 2024- 002 re -authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criteria for residential tax abatements specifically related to the Program; and WHEREAS, PW Investments, LLC, owner of property located at City of Paris Block 199, Lot S of S, LCAD 17210,1610 Bonham Street, has submitted an application for a 5 in 5 Housing Infill Development Program agreement; and WHEREAS, the properties are within Reinvestment Zone No. 2020-1 and within the area set forth in the Program; and WHEREAS, Owner's proposed project comprises construction of one (1) multifamily structure comprising seven (7) dwelling units at the property described herein above in Paris, Texas (hereinafter "Improvements"); and WHEREAS, city staff has reviewed the application and the locations of the above described proposed residential improvements (hereinafter "Improvements") and has determined that the properties are located within the boundaries of the defined geographic area and meet the requirements for Improvements set forth in the Guidelines and Criteria for the Program as set forth in City Resolution No. 2024- 002; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes. Section 2. That the terms of the Economic Development Agreement and Tax Abatement Agreement between the city and PW Investments, LLC and the property the subject thereof meet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by Resolution No. 2024-002 and will lead to the economic development of the Program Area described in said Resolution No. 2024-002. Section 3. That the terms and conditions of the proposed Agreement attached hereto as Exhibit A and incorporated herein by reference, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things approved. Section 4. That the Mayor is hereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit A. Section 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. Section 6. That this approval and execution of the agreement on behalf of the City is not conditioned upon approval and execution of any other tax abatement agreement by any other taxing entity. PASSED AND APPROVED this 25th day of March, 2024. Reginald B. Hughes, Mayor ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney Exhibit A THE STATE OF TEXAS COUNTY OF LAMAR ECONOMIC DEVELOPMENT AND RESIDENTIAL TAX ABATEMENT AGREEMENT This Economic Development and Residential Tax Abatement Agreement (hereinafter the "Agreement) is entered into by and between the CITY OF PARIS, TEXAS, a home rule municipality situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called "City"), and PW INVESTMENTS, LLC (hereinafter referred to as "Owner"). WITNESSETH: WHEREAS, on February 10, 2020, the City Council passed Ordinance No. 2020-005 creating Reinvestment Zone 2020-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In - Fill Development Program (hereinafter "the Program") including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program; and WHEREAS, by Resolution 2022-003, City Council designated an area within Reinvestment Zone 2020-1 as being eligible for the Program; and WHEREAS, on July 25, 2022, City Council, by Resolution 2022-055, revised the guidelines and criteria for the Program; WHEREAS, on April 10, 2023, the City Council approved resolution 2023-018 re- authorizing the City to become eligible to participate in residential tax abatements and approving guidelines and criteria for the residential tax abatement program; and WHEREAS, on January 8, 2024, by Resolution 2024-002, City Council reauthorized the guidelines and criteria for residential tax abatements related specifically to the Program; and WHEREAS, Owner has submitted an application for a 5 In 5 Housing Infill Development project to construct one (1) multifamily structure comprising seven (7) dwelling units at the property described herein below in Paris, Texas (hereinafter "Improvements"); and WHEREAS, city staff has reviewed the application and the location of the above described residential Improvements and has determined that the property is located within the boundaries of the defined geographic area and meets the requirements for Improvements set forth in the Guidelines and Criteria for the 5 In 5 Housing Infill Development Program as set forth in City Resolution No. 2024-002. NOW, THEREFORE, in consideration of the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City, and Owner, (collectively referred to as "Parties") hereby mutually agree as follows: I. Recitals 1.1 The Recitals set forth hereinabove are incorporated into this Agreement for all purposes. H. Component Parts 2.2 This Agreement comprises two component parts, including an economic development agreement pursuant to Texas Government Code Chapter 380 and a residential tax abatement agreement pursuant to Texas Tax Code Section 312. HI. Terms Applicable to both the Economic Development Agreement and the Residential Tax Abatement Agreement: A. The Properties—Areas to be Improved 3.1 The Improvements defined in section III B below and made the subject of this Agreement shall be located on the Properties located in Paris, Lamar County, Texas more fully described in Exhibit 1 attached hereto and incorporated herein by reference, which Properties are within Reinvestment Zone No. 2020-1 and within the area set forth in the Program: • LCAD- 17210, City of Paris Block 199, Lot S of 2, located at 1610 Bonham St. B. Consideration --Improvements 3.2 The Improvements to be completed consist of constructing one (1) multifamily structure comprising seven (7) dwelling units ("Structure") on the above described Property and as more fully described in the application for the Program attached hereto and incorporated herein as Exhibit 1. 3.3 The total estimated value of the Improvements to be constructed on the above - referenced parcels is FOUR HUNDRED THOUSAND DOLLARS AND NO/100 DOLLARS ($400,000.00). 2 3.4 Owner shall obtain City approval for all necessary platting (if required) and plans, building permits, green tags and a Certificate of Completion from the City of Paris. 3.5 Owner shall allow city inspectors access to the Properties and Improvements throughout construction and completion of Improvements. 3.6 Owner agrees and covenants that it will diligently and faithfully construct the Improvements/Structure referenced herein in a good and workmanlike manner within 12 months of obtaining building permits from City. Owner further covenants and agrees that construction of the Improvements will be in accordance with all applicable state and local laws, codes and regulations or Owner will procure a valid waiver or variance thereof. Owner shall complete all Improvements required herein by February 25, 2029. 3.7 Owner shall contact City Building Official for final inspection as Improvements are completed and obtain a Certificate of Completion for the new residential dwellings as completed. 3.8 Owner shall notify the Lamar County Appraisal District upon completion of Improvements and request an updated appraisal of the Improvements. 3.9 Owner shall provide City with appraised value of Improvements upon receipt of same from Lamar County Appraisal District. 3.10 Owner may not use the parcel described in Section 3.1 for any other purpose other than to construct the Improvements set forth in this Article. Use of any parcel for any other purpose shall constitute a separate act of default of the Agreement and will trigger the default provisions and remedies set forth hereunder. IV. Terms Specific to the Economic Development Agreement— Texas Local Government Code Chapter 380 A. Term 4.1 The term of this Economic Development Agreement shall commence on February 26, 2024 and shall continue for a period of five (5) years ending on February 25, 2029. B. Reduced Fees for Building Plan Review and Permitting 4.5 In consideration for Owner's construction and completion of the above -referenced Improvements, City agrees to reduce rates for building plan review by one hundred percent (100%) and permit fees by fifty percent (50%) for the Structure constructed pursuant to this Agreement. C. Reduced Fees for Water and Sewer Tap Labor 4.6 In further consideration for Owner's construction and completion of the above - referenced Improvements, City agrees to reduce rates for water and sewer tap labor fees by fifty percent (50%) where required by the City's Public Works Department. D. Local Purchasing 4.7 As further consideration for the incentives granted herein, where possible, Owner shall purchase building materials and fixtures from vendors located within the City of Paris. E. Default 4.8 It shall be an act of default of the Economic Development Agreement should Owner fail to construct and compete all of the Improvements specified herein within the five (5) year period set forth herein (by February 25, 2029). V. Terms Specific to the Residential Tax Abatement Agreement as to the Newly Acquired Properties—Texas Tax Code Chapter 312 A. Term 5.1 The term of this Tax Abatement Agreement shall commence on February 12, 2024. The abatement period for the Structure shall commence on January 1 of the year following City's issuance of a Certificate of Completion on said Structure and end on the fifth (5th) anniversary of the commencement of the abatement period. This Tax Abatement Agreement shall terminate upon the expiration of the abatement period granted herein unless otherwise terminated by default or agreement of the Parties. B. Abatement 5.3 Subject to the terms and conditions of this Economic Development Agreement and Tax Abatement Agreement, in further consideration for the construction and completion of the Improvements required herein and subject to the rights and holders of any outstanding bonds of the City, a portion of the maintenance and operations (M & O) ad valorem property taxes assessed upon each Improvement and otherwise owed to the City shall be abated for a period of five (5) years in an amount equal to 100% per year of the taxes assessed upon the increased value of the Improvements made by Owner to the Properties described in Section 3.1 of this Agreement, over the value in the year by which this agreement is executed (the "Base Value"), in accordance with the terms of this Agreement and all applicable state and local regulations or valid waivers thereof, provided that the Owner shall have the right to protest or contest any assessment of the Properties and said abatement shall be applied to the amount of taxes finally determined to be due as a result of any such protest or contest. For the purposes of this Agreement, the Base Value of the existing real property shall be deemed to be the value as shown on the tax rolls of the Lamar County Appraisal District as of January 1, 2024. rd 5.4 This abatement is granted in accordance with the City's Guidelines and Criteria for the Program, a copy of which is attached hereto as Exhibit 2, provided, however, that in the event of any conflict between this Agreement Exhibit 2, this Agreement shall control. 5.5 Upon receipt of the documentation set forth in Article III and in Section 6.6 herein as to the constructed and completed Structure, City will notify the Lamar County Appraisal District to begin the tax abatement as to said Structure. C. Default 5.6 If (a) the Improvements/Structure is not completed in accordance with this Agreement (within five (5) years of the effective date hereof); or (b) Owner allows its taxes owed the City to become delinquent and fails to timely and properly follow the legal procedures for protest or contest of any such; or (c) Owner materially breaches any of the other terms, provisions or conditions of this Economic Development Agreement and Tax Abatement Agreement, including but not limited to the Mandatory Anti -Discrimination Provisions set forth herein, then owner shall be considered in default of this Agreement. In the event Owner defaults in its performance of either (a), (b), or (c) above, then City shall give Owner written notice of such default and if Owner has not cured such default within sixty (60) days of said written notice, this Tax Abatement Agreement may be terminated by the City. Notice of default shall be given in accordance with Article V of this Agreement. 5.7 As damages in the event of default, and in accordance with the requirements of Section 312.205 of the Tax Code of the State of Texas, all taxes which otherwise would have been paid to the City without the benefit of abatement, including taxes on those dwelling units constructed and completed according to the terms of this Agreement, together with interest to be charged at the statutory rate for delinquent taxes as determined by Section 33.01 of the Property Tax Code of the State of Texas, with all penalties and attorney's fees permitted by the Property Redevelopment and Tax Abatement Act and the Tax Code of the State of Texas, shall be recaptured and will become a debt to the City and shall be due, owing, and paid to the City within sixty (60) days of the expiration of the above-mentioned applicable cure period as the sole remedy of the City, subject to any and all lawful offsets, settlements, deductions, or credits to which Owner may be entitled. VI. Additional Terms applicable to both the Economic Development Agreement and the Tax Abatement Agreement A. No Conflict of Interest. 6.1 The Owner represents and warrants that neither the Property nor the Improvements include any real or personal property that is owned or leased by a member of the Paris City Council or the Planning and Zoning Commission or any member thereof having responsibility for approval of this Agreement. 5 B. Conditions. 6.2 The terms and conditions of this Agreement are binding upon the parties hereto and their successors and assigns. 6.3 It is understood and agreed between the parties that the Owner, in performing its obligations hereunder, is acting independently, and the City assumes no responsibility or liability in connection therewith to third parties; and Owner agrees to release, indemnify and hold the City its elected officials, officers, employees and attorneys harmless from any claims, lawsuits, damages, costs or attorney's fees related to this Agreement. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently, and the Owner assumes no responsibility or liability in connection therewith to third parties. C. Compliance Provisions 6.4 The Owner agrees that the City, its agents and employees, shall have reasonable right of access to any and all records concerning Owner's investment in the Improvements for the purpose of conducting an audit of the Improvements. Any such audit shall be made only after giving the Owner notice at least fourteen (14) days in advance and will be conducted in such a manner as to not unreasonably interfere with Owner's property. Upon request, the Owner will provide the City with a detailed list of all Improvements, including a list of materials used and cost thereof. 6.5 The Owner further agrees that the City, its agents and employees, shall have reasonable right of access to the Property to inspect the Improvements in order to insure that the construction of the Improvements are in accordance with this Agreement and all applicable state and local laws and regulations or valid waiver thereof. After completion of the Improvements, the City shall have the right to enter the Property and conduct an inspection of the completed Improvements. D. Initial and Annual Reporting. 6.6 The Owner further agrees that it will, within thirty (30) days of completion of each dwelling unit as it issued a Certificate of Completion by the City, provide the CITY with a sworn report, written on Owner's letterhead and signed by a designated representative of Owner, which contains the following information: (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the Property prior to the construction of the Improvements; (b) Detailed description of the Improvements; (c) A copy of or identification of plans and specifications of constructed improvements and the location of the same for inspection by City's Building Official; Co (d) The actual cost of the specific capital Improvements; and, (e) The date of substantial completion of the specific Improvements as defined in paragraph 2.1 hereof; and (f) Receipts showing that the purchase of building materials and fixtures for the construction were made from vendors within the City of Paris, when possible. 6.7 Owner further agrees that it will provide City with an annual, sworn report which shall certify, in writing, that it is in compliance with each applicable term of this Agreement. Such annual report shall be furnished on the forms provided by the City. E. Authority to Contract. 6.8. This Agreement was authorized by resolution of the City Council at its regularly scheduled meeting on the 26th day of February 2024, authorizing the Mayor to execute the Agreement on behalf of the City. 6.9 This Agreement was entered into by Owner pursuant to the authority granted to the authorized official whose signature appears below. 6.10. This Agreement shall constitute a valid and binding Agreement between the City and Owner when executed in accordance herewith, regardless of whether any other taxing unit executes a similar agreement for tax abatement. F. Legal. 6.11 No officer, official or agent of the City has the power to amend, modify or alter this Agreement or waive any of its conditions or to bind the City by making any promise or representation not contained herein. 6.12 This Agreement, except by operation of law, shall not be assigned or transferred by Builder, without the prior written consent of City, which consent shall be at the sole discretion of the City. 6.13 Any written notice required or permitted under the terms of this Agreement shall be given and be deemed to have been duly served if either (1) delivered in person, or (2) deposited certified mail, return receipt requested, postage prepaid in the United States mail, addressed to the designated representative of the respective parties which are designated as follows: 7 OWNER: PW Investments, LLC P.O. Box 6399 Paris, Texas 75461 CITY: CITY OF PARIS, TEXAS Attn: City Manager P. O. Box 9037 Paris, TX 75461-9037 With a copy to City Clerk, City of Paris, Texas (Address same as above) 6.14 If any term or provision of this Agreement shall be declared unconstitutional or void by any court of competent jurisdiction, the constitutionality and validity of the remainder of said Agreement shall not be affected thereby, and to this end the terms and provisions of this Agreement are declared to be severable. 6.15 This Agreement sets forth the entire understanding between the parties, and any other understandings or agreements shall be canceled and superseded by this Agreement upon the date of execution hereof. None of the terms of this Agreement shall be waived, discharged, altered or modified in any respect, except by an Agreement in writing signed by both parties and specifically referring to this Agreement. The captions in this Agreement are included for convenience only and shall not be taken into consideration in any construction or interpretation of this Agreement or any of its provisions. This Agreement is performable in Lamar County, Texas, and shall be governed by, construed and enforced in accordance with the laws of the State of Texas. The provisions of this Agreement shall apply to, bind and inure to the benefit of the City, Owner, and their respective successors, and permitted assigns, if any. 6.16 Venue for any actions arising under this Agreement shall lie exclusively in the courts of Lamar County, Texas, for any State Court action, and in the U.S. District Court for the Eastern District of Texas for any federal court action. 6.17 MANDATORY ANTI -BOYCOTT AND OTHER PROVISIONS. Owner, by executing this agreement, certifies the following: i. Pursuant to Section 2271.002 of the Texas Government Code, Owner certifies that either (i) it meets an exemption criterion under Section 2271.002; or (ii) it does not boycott Israel and will not boycott Israel during the term of the Agreement. Consultant acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. ii. Pursuant to SB 13, 87th Texas Legislature, Owner certifies that either (i) it meets an exemption criterion under SB 13, 87th Texas Legislature; or (ii) it does not boycott energy companies, as defined in Section 1 of SB 13, 87th Texas Legislature, and will not boycott energy companies during the term of 8 the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. iii. Pursuant to SB 19, 87th Texas Legislature, Owner certifies that either (i) it meets an exemption criterion under SB 19, 87th Texas Legislature; or (ii) it does not discriminate against a firearm entity or firearm trade association, as defined in Section 1 of SB 19, 87th Texas Legislature, and will not discriminate against a firearm entity or firearm trade association during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. iv. Pursuant to Subchapter F, Chapter 2252, Texas Government Code, Owner certifies Owner (1) is not engaged in business with Iran, Sudan, or a foreign terrorist organization. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. Signature page to follow: E WITNESS our hands this 26th day of February, 2024. ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney THE CITY OF PARIS, TEXAS IC Reginald B. Hughes, Mayor PW INVESTMENTS, LLC By: ...................................................................__........__...._ Name: Scott Pauley Title: 10 STATE OF TEXAS } COUNTY OF LAMAR } BEFORE ME, the undersigned authority, on this day personally appeared Reginald B. Hughes, Mayor, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, and in the capacity therein stated. Given under my hand and seal of office this 26th day of February, 2024. Notary Public, State of Texas STATE OF TEXAS } COUNTY OF } BEFORE ME, the undersigned authority, on this day personally appeared Scott Pauley, of PW Investments, LLC, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, and in the capacity therein stated. Given under my hand and seal of office this wmm mmmmmmm�m day of February, 2024. Notary Public, State of Texas 11 Exhibit 1 111� or Pmile "Pk,ICATit'.iPt FOR MftMTM TAX AUTEMENT (5, in 5) PM1 + [*reser: N Y lexxfofre- �d*--... _ Ess t w1t1l , rlv-.' str��� nvs k assn u u j, } t ,;. r. �� ., #� „„Yes x N© _,.._.�Nan:mrOMet( d ��,�3i c�i[�Y� ID�t�'d:O�1 �a�il�£ '� J� COM Builder' I f,81 � � ��� fila - 3] ;WT _ �ropt►sctt iar --__ns A L mean: p sfpobia u, .. (Pieaae � �'sE of � andlox ir,CA%t W'a on � $ � "210 w �. 8Mfr ru 4r 91k � w ave �.I G l * a " _�.. w.. ..-._. .e........... Addadditional s i.'�1ieciq&ABY Lj D@f37i: i. '"dude88 EM bmhumn IMM d"O'at jxy " WA metag and bQnndS tyi uf the s ti df , ifavttiia'ble, T venmts for neve Coon: �.._2,3F TOW Number r of Dwduag unfits: E ted Value of hl pMveM by lyp= $tarrt Dateof Ctatstruc OU: HWMtW D 1 aft of s— A,pp&t(a) S%. •�4i� C6 „ry 1fJac: "The only bank you'll ever need!" FIRST FEDERAL COMMUNITY BANK, SSB 1922 2023 February 8, 2024 Re: 5 in 5 Infill Development Program City of Paris, TX To whom it may concern: Please accept this letter as evidence of a preapproval of financing for PW Investments LLC to construct five or more dwelling units within the City of Paris utilizing the 5 in 5 Infill Development Program. This pre -approval letter is valid for 90 days from the date of this letter. This preapproval letter does not guarantee final approval for the loan as it is based upon a limited initial assessment of information provided to First Federal Community Bank, SSB (FFCB). PW Investments, LLC is a valued customer of FFCB. If you need any additional information, please feel free to contact me at (903) 737-5475. First Federal Community Bank, SSB PARIS DOWNTOWN PARIS LOOP CLARKS'l►IL LEI PLEASANT 630 Clarksville Street 3010 NE Loop 286 1902 West Mal. Street 805 North Madison Paris, TX 75460 Paris, TX 75460 Clarksville, TX 75426 Mt. Pleasant, TX 75455 903-784.0881 903.869-0600 903-427-3858 903.577-1118 FFCBANK,COM Member FDIC a NOTP. An mmimdafwak Ow" mOa toot. t.gLdr mame of tha ' 6ad—. •20211met S..1 MU.0 Cade •20210M -0...I F bw g B.M.g Cade •2021 kde -H—1 Raald.MWI Cade •2021 fntemmtio.d M .M.9 Cod. •2021kdam0ond M.d...ml Code •2021 W.—H-1 r— Cade •20211ma+wthnd ErrgPCade •2020 N.Y nal Deadml Cade •.. ' 2021 ICC Cod. 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N �A A N I/ddy HW® _ t B,AEap e2IM fNwMottwd IaMroP%MOduea.amcnw Nam A IB W� a®mr<ra�.wN p ItNn6 pTAtd A p ...._ .mn.rw N Ao.t.=.aka0lHa'1 e,leaee ana... m.WwA ...... _. ..... ....... ... ..... 1 LOT 1, BLOCK I BUSTER FLATS AMMON 0.32ACRES — 13,744 SQUARE FEET z (AMR FFE. —b21.89 m -%gar— .. . . . . ........ el . .. . ..... 4 SICES IF r. weer . . .. ....... . . ....... . I i m'i& 0« aaxaaw cw� roues dFF,e "wwin: .¢�aazi la .nnw..aw�em¢cam �; aaxe mna,auw�n �e � le -anis w,w€w ewe pxoxl nm cwJ. mao n �m au�ma��e�a�w �w+i'J®amu e Maw6rs 'r�is �w.au pa QVE ALL FLQQR PLAN anrer FLOOR PLAN NOTES: Jaa ro arFx FrawJc wnuaF urea ow ea mawncs+uzronccvm�. a.or awwal'omwFFFVJ��auwsF�roweFEwa.0 :TOTAL UNDER ROOF 3,908 SO FT. 19'-23/8' 18'5112• WALKERASSOCIATES 9-73/8' TA3l' , ,,, _... 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C0161W®miBhAKRNd... •F MLOS a 4} d� a �' ADAM BOLTON rent BEDROOM `_91 BEDROOM ....11'.1.'........-..,,� '"'" ,y BUSiTR 7 PLEBION- HQNHAM SHAM STREET ` ...,_ FIR65PRWC � aol �0 f TYMCAL UWT FLOOR PLAN m°SRaT L'. a LW nITICALLINMELODRILAN 1 ^ 2°-z fil8" Sa.1 TI8• _.. * 10'.7712' r'-1Y,°.� TA2' r �.a FLOOR PLAN NOTES:---- - 9'.97/8• �' 11°.41/1" m. 71'-61/2' �'.. m. 9°.71/2" i.... 4°-7• 'araonan+wreva€ttxla ®xxw»...,a °'""a w _... ........ ._. a. fiWlV9WlMlYRg'JSKµlLeba wum ;4 * pxsuER+a psoas FO INDA� TMON NOTES �, .......-----.._.... _._......-- ,� i.:OUNOM10N5 TO BFARAADNMWMOF 2d'�.bW FINISH GRADE�aazlxmmeaaAl eYaA cow REFERENCE TYPICAL DETAIL SHEET FOR FOUNDATION W�� 22 ASSOCIATES 2MLANCNORBOUSTOBESAr DMAX100ffi'OJCUNO. SEESHEAR SECTIONS & NOTES PLANS• FORWILD DOWN DE1AR5 ,-1031 InM1maam�ci RwHwNd Gm. I.1axl lmmnaiend Pwnlry ta4 3.ALLREMFORCINGSIEB SlIAlL�A31YAA•615,GRADF 60 '•aozl lm.mnx.arn.Mmmcea. '.. ••• 4. ALLREINFOBON STEELTDWERWAMMMMUMOF24`FORSPUCES •aozl lm.mamral PnGb :^Li""'^"'r..,. w•+M=m FOR 4148ARS&8Y FOR 05 EARS soil lm,mam.a e..nzc.d. Iaom osw+lO.eAni[<a "'""" ,,," A PROYIQE COMM BAMS 70MAlCH CONTINUOUS SIE9. 1•Smwla %RVl a"b i.mam"W mMaw,gch-. _. k.... ....... .. ... 6.MIMWMALLOWABMECOWFSMCOMMESSMSTBENMSHALLBE �"a 8,500 PSM MAMUM AIR ENTRAINMENT IS B%. CEMENT SHOULD BE TYPE i OR2 ,. _.. 7. ADJACENT GROUND SURFACES SHALL BE SLOPED AWAY FROM STRUCTURE DRAINAGE OF SURROUNDING AREA SHALL ALSO BE PROVIDED TO PREVENT ACCUMMAAIROM OF SOIL AND EROSION OF SORPLLARFOOTKW 8. UNIFORM SOIL CONDITION% MUST BE PROVIDED UNDER SLAB AND sRwK lzauzm+ FOCI G&CUTMU. OR NON-UNIFORM SOIL CONDITIONS SHOULD BE 61GVATO AND REPLACED W/ UNIFORM ENGINEERED FILL MATERIAL IO ___-- .wo MENLViHE DBFERBJDALMOVEMENT WOH A MIN OF 48' SELECT FILL 10 96% SM. PROCFORDENSUY. 9. THE TOPS W FOUNDATION SMALL EXTEND 6' ABOYETHEADMCENT FINISH GRADE 10. DRW ALL PORCH SIAIMI lir AND SLOPE AWAY FROM BUILDING A MIN. OF 1.9% ,wH"w mI4M"_. e- %t } ! ff ry_ .... .e..� c cormelrnaz� 'I t l y l n a i t r id i q R ro�wr w i IB ADAM 80LTONIX BUILDS I ¢ 1 1 I o f d ! BUSIER 7 rON- G TIL 1 L.___._ ° , _ _...... _... _ ___ .. I ! ..._ .. _ �, BONHAM SrRE T BONHAF4 STREET p u r I I I Ol I I 4 .... FOUNDMION PIAN "" p 19 E It I 11 ti t If p Id kl ,. _ .,.... L.... ...._ _ 1 L _ k..S L I,1 IwUfxs dmwtriR WA LW Ae.me FOUNDATION PLAN A !i 3/16'=1' ... .._. ....... ,..., mawa 3116"=I - 3/16'=I' /16 I' : a9pluNummk d Gee fq Pe:an'nmtlm'idcnmC� 4'A+liY Mn.wdarcd$vvMAYrcfiiiCwW i � pzaar �,r ra.n,u cea+ �,aua`v ram uag =cotta wdx�ca. m 3/16'=1' 2 Fq�? x6Fi1M.n.Fenal Ad6.p Ude ry�i {{{�➢mlliwnwbinl GlYtiq B,Bdeq Ub 5' b ]d, ln!vMo�d Fnid.aml Ude ` `xon aw,mF.M FUNdnfc.a. &; �;azm6eM Fn Cade Ignnefiemt FisprGeoe �]@i exsnf �p,In1Ui �5 xr METAL ROOFING, 26 OA. METAL OVER 1.fkll.23'T3 ROOF JOIST ap 1C O.C. IM'OSB W SGS FELT MIN. R36 INKI ATION (SPRAY FOAM) METAL ROOFING: 26 GA. MEFM. OVER IAftl1.29T3 ROOF JOINT 016"O.C. IM'OSB W 30S FELT MDL M INSM UON (SPRAY FOAM] rt"TERIOR WALL2x6 TREATED SOLE PLATE, W SN05 Q I IV O.C.,2.2.6 T0P PLATES Wl7116'OSB SHEAR PAN EL NAMED bGLL1ED FROM BOTTOM PLATE TO TOP PLATE DdilRE BWLDDlG., WMODSEWRAP MK R1P SPRAY FOAM INSULATION, 6 Fa POLY K6., 1MORYWMJ., TAPED •SANDED, PARJT 3JA' SNIPLAP SIDING OVER 7116" OSB WA sowFrr"`��. V INT 1.25'73 ROOF JOIST t6"O.Q Tim. CEIUNGJOIST® ib' O.C. Plmi NOTSHOWN ...,,�,..,�.....,... f!6'6YP.54 .. ORL 2X6 WIL TOP NATE Tn"DRYWALL CROSS SECT1ON 1 51 md�,• I C _� .. . ,Id4igd11l[?I41Y.®F®IYNR.4xWRCOM1RKl®W1111]W,vQG 5x643W W,dmsaxdxadtRdddAIDMIXIE1pOx0I1M5Miwud ... T7Y�M4w1u1fM1'MFRf@iWlIQrtSWWNL IWAVCI�I.MDOAYt FxfMHaWI,W®5050110MdMAfl1Ef019MdfIRF•NLJwOfOOF Wd wF�mw®uaonReuimawsw•"nlamnwmmsaasw.xxod WALL SECIiON Sxl®f6WNF pipMNRRWPPD9lFNTPNdflCMALOAaMwlmf/E "^� d.,vYRf3A J45�dR�dLdI�W�IF�MWfIRIxdN01Ff10MMIRee AnwtMiY,pF5 Wnr f9515WUlpmOlmldC01ROFYY[y✓d .x,uF7i.NOlmIA,Nd@ellat9POGlORmWVMJHIt FR 51dIReIN110N RGRIx:F/1E,41FSa0FNICN , + T.Shi13f"TJI ROOF JOIST® $Z CROSS SFCIION 7 xnvar 211950-2024 WD 03/08/2024 03:21 PM Total Pages: 4 Ruth Sisson, County Clerk - Lamar County, TX BY:STONE TITLE COMPANY, INC GENERAL WARRANTY DEED 23-16685 (Cash) NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A .NATURAL PERSON, YOU MAY REMOVE OR STRIKE( ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. Effective Date: March t f `L, 2024 Grantor: Gary Cook and Linda Kapp, husband and wife Grantee: PW Investments, LLC, a Texas Limited Liability Company Consideration: TEN AND NO/100 DOLLARS ($10.00) and other good and valuable consideration. Property: SEE THE ATTACHED EXHIBIT "A" INCORPORATED HEREIN FOR ALL NECESSARY PURPOSES Reservations From and Exceptions to Conveyance and Warranty: This conveyance, however, is made and accepted subject to all outstanding mineral interest, restrictions, reservations, easements, covenants and conditions, relating to the herein above described property as now reflected by the records of the County Clerk of Lamar County, Texas. I N /UJU Nage 1 of 4 Grantor, for the consideration, receipt of which is acknowledged, and subject to the reservations from and exceptions to conveyance and warranty, grants, sells and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executor, administrators, successors or assigns forever. Grantor binds Grantor and Grantor's heirs, executors, administrators and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty. Payment of ad valorem taxes for the current year having been assumed by grantee. When the context requires, singular nouns and pronouns include the plural. . .......... Gary Cook Linda Kapp�eeemw .... _.�..._..�.. I N tWU Nage 3 of 4 ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF LAMAR This instrument was acknowledged before me on the G, day of '6- 2024, by Gary Cook. lip v�». Amanda Posey ��+ * Notary Public, Stato of Texas �, Kombtr10,M2a Not ry Public, State of Texas Comm.�oFt Nolsty11)13089133-2 ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF LAMAR This instrument was acknowledged before me on the day of I 1 2024, by Linda Kapp. t" Notary Public, State of Texas Heather D Coward Comm. Baphea 08/02 0X No 1�i888.t1 After Recording Return To: 0,20Y� (k3 ''Cj 211960-2024 Page 4 of 4 Exiil B X T "A" FI= NO= Situated within the Corporate Limits of the City of Faris, County of Lamar, and State of Texas, a part of the Asa Jarman Survey #479, and being tract 3 as conveyed Ethel L. Abbott by deed recorded. in . vol. 134, Page 181 of the Real Property 1" = 30' Records of said County and State: (f) - found (s) = set . Beginning at an iron pin (f) for corner in the North Boundary Line of Bonham St. at the Southwest corner of said tract 3, said point being East a distance of 77.6 ft, from the intersection of the North Boundary Line of said Bonham St. and the East Boundary bine of 17th N.W. Thence East along the North Boundary Line of said Bonham St. a distance of 72.9 ft. to an iron pin (f) dor corner at the Southeast corner of said tract 3; Thence North 0 Deg. 21 Min. East along a chain link fence a distance of 188.7 ft. to an iron pin (s) for corner at the Northeast corner of said -tract 3 and the Southeast corner of tract 5 of said_ Deed; Thence North 89 -Deg. 43 Min. West along a chain link fence a distance of 72.6 ft. to chain line post (f) for corner at the �y Northwest corner of said tract 3, the Southwest corner of said tract 5, and the Southeast 7i.9' corner of tract 6 of said Deed; Thence South 0 Deg. 27 Min. West a sf' distance- of • 189 ft, to the place of beginning and containing 13.739.36 sq._ftr ,E &WIIAA4 Sr. 'T, r J.M. Nelson, Registered Professional Land Surveyor of Texas, 04025, certify that'ihe above depicted and described tract of land was taken from an actual survey made by me on the ground vLnd completed on the ,13th day of April, 1992. V if. k."' R.P.L.S. of Texas, 94025 date Exhibit 2 RESOLUTION N0. 2024-002 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS REAUTORIZING THE CITY TO BECOME ELIGIBLE TO PARTICIPATE IN RESIDENTIAL TAX ABATEMENTS RELATED TO THE 5 IN 5 HOUSING INFILL REDEVELOPMENT PROGRAM AND READOPTING THE GUIDELINES AND CRITERIA RELATED TO SAME; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, Sec. 312.002 of the Texas Tax Code requires local taxing entities to state their intent to participate in abatement agreements and to adopt guidelines and criteria for granting tax abatements; and WHEREAS, on October 14, 2013 in Ordinance No. 2013-036, the City Council designated Reinvestment Zone No. 2013-1 for residential tax abatements; and WHEREAS, on February 9, 2015, the City Council passed Ordinance No. 2015-002 amending Reinvestment Zone 2013-1 for Residential Tax Abatements to expand it to include all Council Districts in the City and designated the new reinvestment zone as Reinvestment Zone No. 2015-1; and WHEREAS, in 2021, City Council re -authorized Reinvestment zone 2015-01 and renamed it Reinvestment Zone No. 2020-1; and WHEREAS, by Resolution No. 2022-003, on January 10, 2022, City Council adopted the 5 in 5 Housing Infill Redevelopment Program (the "Program"), including guidelines and criteria for residential tax abatements within the designated Program area, which area falls within Reinvestment Zone 2020-1; and WHEREAS, City Council revised said guidelines and criteria on July 25, 2022 in Resolution 2022-055; and WHEREAS, pursuant to Texas Tax Code Sec. 312.002(c), guidelines and criteria for tax abatements are effective for two years from the date adopted; and WHEREAS, the City Council continues to desire to participate in a residential tax abatement program related to the Program; and WHEREAS, on January 8, 2024, the City Council held a public hearing on the reauthorization of the Program and readoption of the guidelines and criteria therefor as required by law, and after considering any testimony offered therein, wishes to reauthorize participation in the Program and to reauthorize the guidelines and criteria therefor; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes. Section 2. The City hereby elects to be eligible to participate in a residential tax abatement program related to the Program and hereby readopts the 5 In 5 Housing In -Fill Development Program attached hereto and incorporated herein as Exhib t� "A". Section 3. The City Council hereby redesignates the defined geographic area for properties to be eligible to participate and enter into an agreement for the 5 In 5 Affordable Housing In -Fill Program represented in the map attached hereto and incorporated herein as J':„,xbibit "B". Section 4. This resolution shall become effective from and after the date of passage. PASSED AND APPROVED this 8th day of January, 2024. ��Ntii�i�ilU41 .-o ATTEST: rfxAs J ce Ellis, City Clerk Jill f �d B. Hughes, Mayor �M, ' Exhibit 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM GUIDELINES, CRITERIA & APPLICATION FORM CITY OF PARIS, TEXAS Readopted January 8, 2024 L GENERAL PURPOSE AND OBJECTIVES The City of Paris, working with our local government partners, is seeking to provide a series of builder incentives designed to encourage new home construction for the purpose of neighborhood revitalization and the provision of work force housing. New home construction within the existing interior of the community can have a positive effect towards reinvestment in our neighborhoods by providing stability and enhanced character, as well as a means to expand our community's local labor force. Focusing on the existing interior of the City allows the builder to utilize existing infrastructure rather than the extension of costly streets and utilities in undeveloped lands at or beyond the urban fringe. To achieve this purpose, the City will offer a series of incentives: 1. Where applicable, the City will provide low cost residential lots in the Program Area in tax foreclosure city receivership. If a builder obtains properties through other traditional means within the Program Area, other incentives within this policy may apply. 2. The City will offer a five (5) year 100% residential tax abatement of City property taxes. 3. The City will offer reduced rates on building plan review and permit fees. 4. The City will offer reduced rates on labor charges on water and sewer tap fees. The city staff will work with interested builders to identify parcels from a pool of tax sale lots in trustee status to develop a list of properties that., will be suitable for the construction of new dwelling units. This may consist of single-family, two-family, medium density, or high density residences. Prior to any construction occurring from which the builder is seeking incentives, the builder will enter into an Agreement to be approved by the City Council for the construction of a minimum of five (5) or more dwelling units on one (1) or more parcels. Each of the dwelling units subject to the Agreement must be constructed under the terms of the agreement within five (5) years from the date of the Agreement, unless such deadline is extended by subsequent approval of the City Council. All parcels under the Agreement must be built upon within five (5) years to satisfy the terms of the Agreement. Failure to achieve this goal will result in certain claw backs as provided in the Agreement. All applications shall be considered on a first come, first serve basis. There will be no income guidelines under this program for occupants of the dwelling units, whether owner or renter occupied. In the event the applicant constructs a new dwelling unit and sells said unit, the tax abatement shall lapse and be terminated as to that parcel unless the City Council approves an assignment of the tax abatement agreement to the new owner. Page 1 of 7 In order to further encourage local development, employment, and enhancement of our economy, to be eligible for incentives in this policy, building materials and fixtures used in the construction of new dwelling units, where possible, must be purchased locally within the City of Paris. H. DEFINITION OF TERMS Act - The Property Redevelopment and Tax Abatement Act, Texas Tax Code Ann. 312.001 et. seq., as amended from time to time. Agreement - A contractual agreement between an applicant and the City of Paris for the purposes of a 5 In 5 Housing Infill Development Program to include an economic development agreement pursuant to Chapter 380 of the Texas Local Government Code and a residential tax abatement agreement pursuant to the Act. Applicant - An owner, proposed owner, builder or authorized agent of the owner of eligible property seeking an agreement under this policy. Base Year Value — The assessed value of eligible property on January 1, preceding the date of execution. Eligible Property - Property located in the defined Program Area and Immediately Adjacent thereto, whether foreclosed on due to taxes or not. Also, property located outside the Program Area if foreclosed on due to taxes. Immediately Adjacent property — Property which lies immediately next to the boundary of the Program Area, including property across a street or intersection or located diagonally therefrom. New Structure - Residential improvements made to a property previously undeveloped or a vacant parcel which is placed into use by means other than by expansion or modernization without full demolition of an existing substandard or condemned structure. Program Area - An area depicted in "Exhibit B" of the approved resolution for the 5 In 5 Housing Infill Development Program, which area is wholly within the boundaries of Reinvestment Zone 2020-1 for the purpose of residential tax abatements. Residential Improvements - The construction of new residential structures and all the appurtenances thereto. This term includes single family, duplexes and multi -family structures. Value of Improvements — The appraised value of the Residential Improvements as determined by the Lamar County Appraisal District and as described in the Agreement. III. ELIGIBILITY AND GUIDELINES Real property is determined eligible under this policy as provided in the Definitions. If property is eligible, an Applicant may apply for an Agreement to receive incentives provided for in this Page 2 of 7 policy. For tax foreclosed properties, all taxing jurisdictions shall be required to sign off on the low cost land sale according to the provisions of State Law prior to transfer of the property to the applicant. Minimum Investment — To be eligible for residential tax abatement, an Applicant must construct a new structure or structures on the property parcel(s) identified in an Agreement between the applicant and the City. Incentives Low Cost Sale of Foreclosed Properties — As part of their agreement, an applicant may choose to purchase eligible properties that are in a state of tax foreclosure. These properties are strictly first come, first serve and the City makes no warranty on having available properties for this incentive. The City will work with the Lamar County, Paris Independent School District, and Paris Junior College to seek a low cost sale of the foreclosed property, but the City can only guarantee a low cost of its share. Tax Abatement - An Applicant who has satisfied all the criteria and guidelines for the low cost property sale and residential tax abatement as set out herein, will be eligible for a 100% five (5) year tax abatement on each parcel on which a dwelling unit or units are constructed and completed. The abatement will become effective on January I' of the year following issuance of a Certificate of Completion following final construction inspection. As provided in the Act, a tax abatement may only be granted for the value of the Residential Improvements which exceed the base year value of the property and which are listed in an Agreement between the City of Paris and the applicant, subject to such limitations as the City of Paris may require. The base value will be set as of January I' of the year in which the Agreement is executed. Upon completion of construction, the Applicant shall provide a copy of all material and fixture purchase invoices to prove that those materials and fixtures were purchased locally within the City of Paris when possible. The tax abatement is available only for improvements made after the execution of the Agreement. The Agreement may not be approved by the City Council until at least thirty (30) days after notice of the consideration and possible action on the Agreement has been posted. Reduced Fees, for Building Plan Review wand Permitting — The Applicant will be entitled to reduced rates for building plan review and permit fees on a cumulative basis for all new dwelling units under agreement with the City according to the following schedule: Total Dwelling Units Plan Review Fee Discount Building Permit Fee Discount 5-9 100% 50% 10-19 100% 75% 20+ 100% 100% Reduced Fees for Waterm& Sewer Tai Labor — The Applicant will be entitled to reduced rates for water and sewer tap labor fees, where required by the Public Works Department, on a cumulative basis for all new dwelling units under agreement with the City according to the following schedule: Page 3 of 7 Total Dwelling Units Water Tap Labor Sewer Tap Labor Fee Discount Fee Discount 5-9 50% 50% 10-19 75% 75% 20+ 100% 100% Claw Back Provision — The Applicant who enters into an Agreement with the City of Paris shall construct at least five (5) or more new housing dwelling units on one (1) or more parcels within five (5) years from the effective date of the Agreement, or the City shall have the right to automatically take back any undeveloped parcel under the terms of the agreement and transfer of the property by all taxing entities. This shall be recorded with or as a part of the deed as a right of reversion for all uncompleted construction lots deeded under this agreement against the property. The Applicant may request approval of an extension for such failure to construct a new residential dwelling unit(s), based upon reasonable circumstances, as may be approved by the City Council under a subsequent revised agreement. Parcels under the agreement cannot be sold or assigned to another individual except by prior approval and re-assignment of the parcel(s) and approval of a new agreement by the City Council. Failure to meet the requirements of constructing a minimum of five (5) dwellings within the five (5) year period will result in a reversion of all parcels upon which Residential Improvements have not been constructed and completed to the City and will result in the Applicant being ineligible to participate in this program in the future. As a further claw back provision, and in accordance with Texas Tax Code Sec. 312.205, the Agreement shall provide for recapturing property tax revenue lost as a result of the agreement if the owner of the property fails to make all the Residential Improvements as provided in the Agreement regardless of how many dwelling pp units applicant builds. Com fiance with all other City Re uirements — The Applicant shall be fully responsible for compliance with all zoning, subdivision platting, and building code requirements as may specifically pertain to the subject parcel(s) under the approved Agreement. The applicant shall be fully responsible for all such costs which may include, but not be limited to: Zoning Changes, Special Use Permits, Variances, Platting and Surveying Costs, Plan Preparation, and Building Permit Fees. V. APPLICATION PROCEDURES Applications for an Agreement with the City shall be reviewed for completeness. City Staff shall determine whether the application satisfies guidelines and criteria and Staff may request additional information or documents from Applicant. City Staff will make final recommendations on each application to the City Council. Any Applicant desiring approval of an Agreement shall comply with the following procedural guidelines. All applications shall be evaluated on their own merits within the parameters of these Guidelines and Criteria. 1. Preliminary Application Steps Page 4 of 7 A. Applicant shall work with City Staff to identify eligible tax foreclosure City Trustee or other parcels within the defined geographic area. City Staff will provide a list and corresponding map from which tax foreclosure City receivership parcels may be reviewed. The Applicant may submit an application for this program at the same time with an application for a building permit(s). If the Applicant for the building permit is not the owner of the real estate and does not make application for an agreement on behalf of the owner, the City Staff shall notify the owner (according to the most current records of the Lamar County Appraisal District records) by certified mail, return receipt requested, that the application must be signed and filed with the City within ten (10) business days of receipt of the affidavit of ownership notice. B. A pre -approval letter must be attached to the application from Applicant's financial institution stating that the Applicant will have financial capital available to complete all new dwelling unit construction under the five (5) year Agreement with the City. Verification of such financial capability may be reviewed over the course of the Agreement. C. If the building permit applicant does not to apply for an Agreement prior to the time that the building permit is issued, or if the owner fails to respond to the written notice of availability for the agreement, this policy shall be considered waived by the applicant and/or owner. City staff shall make a record to reflect owner's election not to participate in the program or to document that owner did not respond to City's notice of opportunity to participate in the program. The refusal or waiver to participate in the program by the building permit applicant or owner shall be binding on subsequent owners of the real property. D. A complete legal description shall be provided with a copy of the current deed of the land, unless the parcel(s) are being transferred by deed without warranty by the City of Paris. E. Applicant shall complete all forms and information detailed above and submit all forms to the City of Paris Director of Planning and Community Development. 2. All information in the application package detailed above will be reviewed for completeness and accuracy. Additional information may be requested as needed. If necessary, applicant will meet with City staff to discuss details of the application and to prepare presentation of the application to the City Council. 3. The application shall designate whether the dwelling(s) to be constructed are to be retained for ownership, or sold to another owner upon completion of construction. The applicant shall also provide an estimate of the value of improvements as required for building permit application. 4. If an application for the 5 In 5 Housing Infill Development Agreement is to be Page 5 of 7 recommended for approval by staff, then air Agreement as defined herein with the City of Paris will be prepared by the City Attorney for approval by the City Council. 5. If the Applicant's property is not found to be eligible, the application will be rejected and returned to Applicant. 6. The City Council reserves the right to amend these policies and guidelines as needed. VI. LEGAL DOCUMENTATION PREPARATION The Director of Planning and Community Development and the City Attorney will be responsible for drafting the required Agreement in accordance with state law and this Policy. The legal document will include the following: 1. Estimated value of new structure or residential improvements to be constructed. 2. Total amount of value to be abated over five (5) years. 3. Effective date and the termination date of abatement. 4. Description of the Residential Improvements, schedule of completion, property description, all required City approval requirements and a platted lot site plan or sketch of the parcel(s) to be platted and developed. 5. Applicant agrees to make the new structure or residential improvements available for inspection by City of Paris, or its authorized representatives, and Lamar County Appraisal District (LCAD) during construction and upon completion of the project. 6. Contractual obligations in the event of default, violation of terms or conditions, delinquent taxes, recapture and administration. 7. A signed and notarized statement as an attachment to the application agreeing to construct five (5) dwelling units on one (1) or more parcels within five (5) years from the date of City Council approval of an Agreement, unless extended by the City Council, or consenting to allow the City to automatically take back the parcel(s) under the initial terms of an approved agreement. Page 6 of 7 CITY OF PARIS, TEXAS APPLICATION FOR RESIDENTIAL TAX ABATEMENT (5 in 5) Property Owner: Name Current: Name Planned* ._.... v...._. _... (*Do you plan to re -assign to a buyer upon completion?Yes No Mailing Address: Telephone Number. ..... email:........,. Builder or Contact (if different than currentlplanned owner): Name: Mailing Address: State GC License No: Telephone Number .. ...__....m__... ----'email Property Parcel(s) Proposed .._._. ..,,..... ..__. _._.. .w_ For 5 In 5 Agreement: (Please submit an attached list of addresses and/or LCAD #'s on Excel Spreadsheet, if possible) No. LCAD Address Lot Blk. Addition 1. 2. 3. 4. 5. Add additional sheets if necessary. Full Legal Description: Include as an attachment a full legal description with metes and bounds or a copy of the deed, if available. Improvements: Type improvements for new Construction: SF_ 2F_3F_Quad_MF_ Total Number of Dwelling Units: Estimated Value of Improvements by type: Estimated Start Date of Construction: Estimated Date of Completion of Project(s) Description of Project (attach site plan, floor plan, etc.: Owner's Signature: Applicant(s) Signature: Page 7 of 7 Date: Date: Exhibit B