2024-020 - Approving an economic development agreement and tax abatement agreement with PW Investments – 5 in 5 housing infill development program.RESOLUTION NO. 2024-020
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
Guidelinesthe
City
in Resolution � .
THEREFORE, RESOLVED BY THE i COUNCIL OF THE i OF
PARIS,
THAT:
Section . The findings set out inthe preamble
hereby
in all things apprre incorporated herein for all
-termsSection 2. That the i
Abatement Agreement between the city and PW Investments, LLC and -the property
-thereofthe subject i Guidelines ri
by the City ill lead to the economic
development of the ProgramArea described in said Resolution. 2024-002.
Section ® That -the terms and conditionsproposed
here -to as Exhflnt A and incorporated herein yhaving beenreviewed
-the City Council of -the City of Paris in the bestinterests
of -the City of Paris citizens, be, and the same are hereby, in alli r
authorizedSection 4. That the Mayor is hereby reement and
all other documents i -therewith
accordingsubstantially r i in the Agreement
propertyattached hereto as EXbibjiJ.A.,.
Section 5. That 'the planned use of the
constituteabatement will not az rpublic y or morals.
Secti"on approval and execution of the agreement
approvalCity 'is not conditioned upon and execution
agreementr taxing entity.
Mihir /ankaji, Mayor Pro -Tem
ie H. Harris, City Attorney
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;
%_� I
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 GuidelinesCriteria for the 5 In 5 HousingInfill De-velopment Program as set
forth in City.Resolution. .
THEREFORE, in considerationf the terms and conditions referenced her in,
otherand good andvaluable consideration, -threceipt and sufficiencyf which is hereby
acknowledged, the City, and Owner, (collectively referred to as"Parties") hemutually r
s :follows:
1.1 The Recitalsset forth hereinabove are incorporated into this Agreenient for all
purposes.
II.
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.
III.
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:
Bei 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.
33 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 Cityapproval for all necessary plattingi required) l ns,
building i, green tags and a Certificatef Completion from it ri .
3.5 Owner shall allow cityinspectors ss to the Properties r t
-throughout tr ti ti Improvements.
3.7 Owner shall contact City BuildingOfficial r -final inspectionImprovements
are completedobtain i t Completion r the new residenbal dwellings
completed.
3.8 Owner shall notify the Lamar County AppraisalDistrict upon completion
Improvements request an updatedr i l of the Improvements.
3.9 Owner shall provideit itappraised lr t upon receipt of
same from Lamar CountyAppraisal District.
3.10 Owner may not use the parceldescribed in Section .1 for any other purpose other
than tconstructt. Improvements t forth in this Article. Use of any parcel for any other
purpose shall constitute a separatet of default of the Agreement and will trigger the default
provisions n remedies t forth hereunder.
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.
3
C. Reduced Fees for Water and Sewer Tap Labor
4.6 In further consideration for Owner's construction and completion of the above -
labor fees by fifty
requiredpercent (50%) where i .
considerationD. Local Purchasing
4.7 As further ., where possible,
Owner
shall purchase building ls and fixtures from vendors located within
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 is (by.February 25, 2029).
V.
Terms Speciffic to the Residential TaxAbatement Agreement as to the Newly Acquired
Properties—Texas Tax Code Chapter 312
B. Abatement
M
5.4 This abatement is granted in accordance with the City's
mor the Program,a copy of which,provided,however,
that in the
event of any con-flict between this Agreement Exhibit , this.Agreement shall control.
5.5 Upon receipt of the documentation set forth in Article.1.1.1
completedherein as 'to 'the constructed and , City wfll notify
Appraisal District
neitherAdditional Terms applicable toboth the Economic Development Agreement and
the Tax Abatement Agreement
6.1 The Owner represents and warrants that
personalinclude any real or tis owned or lity
Nfity
Council or the Planning and Zoning Commission or any .. �
.
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;
0
(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:
VA
PW Investments.,
P.O. Box 6399
paris, Texas 75461
0
TEXASCITY OF PARIS,
City
Paris, TX 75461-9037
City Clerk, City res,Texas
(Address same as above)
t iunconstituti.onal or
v *d by any court of competentJurisdioction, the constitubonality and validity of the remainder of
ol
a Agreement shall t be affected -thereby, and to -this end the terms and provisions of this
declaredAgreement are to be severable.
i
6.16 Venue for any tthis Agreement shall lie exclusively in the
courts ofLamar County, Texas, for any State Court action, and in -the U.S.District Court for the
Eastern District ti .
executing6.17 MANDATORY ANTI -BOYCOTT AND OTHER PROVISIONS. Owner, by
this agreement, certifies the following:
Signature page to follow. -
I
WITNESS our hands this 25th day of March, 2024.
01111111111110'AnoROVLED AS TO FORM:
StiphifnIe H. HaFris, City Attorney
THE CITY OF PARIS, TEXAS
By:_ 0?00
Mihir Pankaj, Mayor Pro -Tern
PW INVESTMENTS, LLC
By: ,-
Name: Scott Pauley
Title:
ME
G
BEFORE ME, the undersigned authority, on this day personallyit
PanIcaj, Mayor Pro -Tem, Imown to me to be the person whose nam -e is subscribed to the
fioregoing instrument, and. acknowledged to me that he executed. the same for the
putposes and consideration therein expressed., and in the capacity therein stated..
BEFORE ME, the undersigned authority, on this day personally appeared Scott Pauley,
of W Investments,LLC, known to me to is subscribed
to thef-oregoing i.nstruinent,e purposes
w
considerationand i.expressed, and in the capacity therein stated.
Given under iny hand and seal of office this 25th day of/M- arch, 2024.
11
Exhibit
r' a
J 'let CI
�rvww.mvwuvw�..,„ �f
4,
" �rwnn
I�mnmwi
.IN��q&�wummpWp
�MAbmmwn
anr�m
PQ "m In dude .n* metes
i 4 w w. .� y I 1. 84
.:: •j ��j y Y" �a
' N',p • w 1wC w legal
1.. rIrt Y
3
2rv. 3 ,or of
Quad- Mir
;•�••, • ,
i
Of v
Est*mm� Sturt Date of
&dmaW Date of
.. of .. {
Dom`App
�. ..,..w
� �+M.4wiMMi1MW.. �.wr"
w�
vt or
"The only bank you'll ever need!"
FIRST FEDERAL
COMMUNITY BANK, ssB
1922
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 DOWNTOUM PARIS LOOP CLARKSVILLE
630 Clarksville Street 3010 NE Loop 286 1902 West Main Street
Paris. TX 75460 Paris, IX 75460 Clarksville, TX 75426
903-794-0881 903-669-0600 903-427-3858
MT. PLEASANT
805 North Madison
Mt. Pleasant, TX 75455
903-577-1118
FFCOANK.COM
Member FDIC 0
lu
1 01,
wog,
X.. . .. .. ..
10
Hill4 r
tu-
40 2 LU
ra
It
Z
44 oz
ze 0 C6 go
Is i t.umoiiuUPS
xom
womr, 16
F
as mot a Rm
!l
mmm r1
z
amu
0
E
ad
zpYI
m
0
cf
to
06 90
Cie.
moo
�p1
0100
KULL
00,00 ORmlrvc
moo
Lv
" 11, i I T
!l
Z
z
amu
0
E
ad
zpYI
m
cf
to
06 90
Cie.
moo
�p1
0100
KULL
00,00 ORmlrvc
moo
Lv
" 11, i I T
!l
k Up
00
N4
ate^
0000000
Cie.
moo
�p1
0100
KULL
00,00 ORmlrvc
moo
Lv
" 11, i I T
!l
uj
21
. . ....... .
to
pjgpi'O
O -s9 L
it
o
cc
Via
ZZ
LL
w
AM
te)
LN1
O -s9 L
o
C4
uj ul
Sh L
im
0
oil
'104- A
U-
1'If F, Z"
UA 1, , � '71'.7) 55 *6 CL.
EN z
z Cis
2 p 0
LO
z
i CIS
0 z
AA
RriE106 co
5 it
ER
09
do.1
11111111�II�llq Pr. JI;C,
1
z
0
P
a
z
3
0
U.
u.
tu—
x
44
dws
R
.J
0
z
uj
U
Z Z
aduj 0
5
uj
Li.
im 44
p
SM.
U.1 lu 0
LLA
tj co
USEui M
2: 0 -j 1 9
0 95 0 z v z
96 <
NU 2.1 A §
U4 ad A 5 :2
0 00
m 0 o !4 044 00 Mom
Z z tu UA -?R of fn OE
t
U- Z) U. ZO 0 v I U. mw
90 z z o ?
a
0 01 to COW10
op� 00 wvzz <
a
0
ZMN 0
C4 E if 12 LU w 7-
C44! ccb
go
09C,
4x v zd Ck
yy
o
z 16R:1
0 z 0 !20 0 z
4LU z W:E In o
u ZZ, 9 Wu ZP r
f 05
1201991;, gor-
in Ed 15 z:j
An ZWD OEW W w
ORM000AWR M -C 0 W 0
z jo!m a a,,. 0
z v V 00
01 0 Cd� joY..,
Lt. B v LL 0
C6
�
u zz �z Z -A
C6 0
t4 Vi 4 u -46 V14ao C: d
- 44
40
ii4 . ........... .. . ......... . ......
a UV D,�,ST'6 1011W44 III,a 1PD"u"OM"PmQwvounn o9moxemos
OR
rill
9,0 f/Z }
?vn
C6 IM
41,
.... .. ..... .
most
so =111ts, I
row
cq
UA
0
z
rill
minim ss 8l
.11, 9
a
Lei
u
d
u
one
w I
rg
E L0
'D 9?0
"0
0 18 1
Zug.
z
m
Go
N m
0 2
;JU w
ON
V, zo
cm :04".64 f. CL ag
z
0
eve
t220
six
16
smite
dill
I
u
c;
8r
dL
U"
C4
a.: U
74 C;
64:6
oz 0—
m 0
u z
a
Lei
u
d
u
one
w I
rg
E L0
'D 9?0
"0
0 18 1
Zug.
z
m
Go
N m
0 2
;JU w
ON
V, zo
cm :04".64 f. CL ag
z
0
eve
t220
six
16
smite
dill
I
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'-1 G 68 5
(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 BE, FORE, IT IS FILED FOR.1 ORD I THE PUBLIC RECORDS.
OUR. SOCIAL SECURITY NUMBER OR YOUR. DRIVER'S LICENSE NUMBER,
Effective Date: March ; 2024
+rr,: Gary Cook and Linda Kapp, husband
Grantee: PW Investments, LLC, a Texas Limited Liability Company
Consideration: TEN AND NO/100 DOLLARS ($10.00) and other gaati and valuable
consideration.
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 Counter Clerk of
Lamar County, Texas.
TN7039 Page 2 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 Oonveys 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 hinds Grantor and Granter'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 o6k'3
r
w
Linda Kapp
TN7039 Page 3 of 4
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF LA AR
t�q
This instrument was acknowledged before me on the day of .. mm �. � .2024
by Gary Cook.
STATE OF TEXAS
COUNTY OF LAMAR
9 y
This instrument was acknowledged before me on the day of M 2024,
by Linda Kapp.
Notary Public., State of Texas
Heather D Cowed
A Noftwy Pubuclo state of TOM
lot I comm. Expins 08/0z=4
Notes n) 1338 89fil's
After Recording Return To:
211960-2024, Page 4 of 4.
F. X 11 7: T "A"
. ......... - ----. -_ - f - -'- ---- -.9 0
and State of Texas, a part
of the Asa Jarman u ,
and being tract 3 as conveyed
am 0 q ww
Exhibit 2
RESOLUTION No. 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 EzhMt.,,X.
Section 3. The City Council hereby redesignates the defined geographic area for properties
Igq
to be el' ible 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 asEWibi B".
Section 4. This resolution shall become effective from and after the date of passage.
PASSED AND APPROVED this 8th day of January, 2024.
ie H. Harris, City Attorney
0,011/
ld B. Hughes,, Mayor
/`,
i i,. % f ,�
purpose,To achieve this the City will offer a sen'es . f ,
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.
11. 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.
111. 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
B. A pre -approval letter must be attached to the application fTom Applicant's financial
a -
institution stating that the Applicant will have financial capital available to
complete all new dwellm'g unit construction under the five (5) year Agreement with
the City. Verifflication. of such financial capability may be -reviewed over the course
of the Agreement.
D. A complete legal descn*ption shall be provided with a copy of the current deed of
the landl unless the parcel(s) are being transferred by deed without warrantyby the
City of Paris.
E. Applicant shall complete all fonns and M'formation detailed above and subrm't 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 infonnation 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 Hbusing Mill Development Agreement is to be
Page 5 of 7
recommended for approval by staff, then ail 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*
. ........ . . " .. ........
(*Do you plan to re -assign to a"b'uye,r-,up,o,n"-,c,o,mpl"e'ti'o"n?,-""--,,"""",",Y " es """, No
Mailing Address:
Telephone Number:
Builder or Contact if different than current/planned owner):
Name:
Mailing Address: State GC License No:
Telephone Number: 'email
........ . .... _ . . ...... .. .......
Property Parcel(s) Proposed For 5 In 5 Agreement,
(Please submit an attached list of addresses and/or LOAD Ws on Excel Spreadsheet, if possible)
No. LCAD Address Lot B, k. Addition
2.
3.
Add additional sheets if necessary. Full Legal Description: Include as an attachment a fun legal
description. with metes and bounds or a copy of the deed, if available.
IP p
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 Projects)
Description of Project (attach site plan, floor plan, etc. . ............ ... ..
Owner's Signature: Date:
Applicant(s) Signature: Date:
Page 7 of 7
« ƒ S \ /� �\�� � / ±
^ � ] / ' ) / \ / \ ��\
2 � y \ y \
� ; �' . . � §,/ 3 2, /� \