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<br />At a subsequent regular City Council meeting, the Application for any tax <br />Abatement incentive may be considered. Prior to final approval, all legal <br />documents to effect such Reinvestment Zone(s) and tax Abatement Agreement(s) <br />shall be drafted and approved by the City Attorney. <br /> <br />d) Public Hearing. The City will comply with certain public notices and hearings <br />required as mandated by state law under the Property Redevelopment and Tax <br />Abatement Act prior to the designation of a reinvestment zone and execution of a <br />tax abatement agreement. <br /> <br />e) Findings. In order to enter into an Agreement, the City Council must find that (i) <br />the terms of the proposed Agreement comply with these Guidelines and Criteria, <br />(ii) there will be no substantial adverse affect on the provision of the City's services <br />or tax base, and (iii) the planned use of the property will not constitute a hazard to <br />public safety, health, or morals. <br /> <br />f) Variances. Requests for variance from the provisions of these Guidelines may be <br />made in writing to the City Manager; provided, however, that in no event shall the <br />term of any Abatement exceed the period authorized by applicable state law. Such <br />request shall include a complete description of the circumstances requiring a <br />variance. Approval of a request for variance shall require the affirmative vote of <br />three-fourths (3/4) of the members of the City Council. <br /> <br />V. AGREEMENT. After approval, the City Council shall formally pass an order or <br />resolution and authorize the execution of an Agreement with the owner and/or lessee of the <br />facility which shall include, but not be limited to, the following terms: <br /> <br />a) estimated value to be abated and the Base Year Value; <br /> <br />b) percent of value to be abated each year; <br /> <br />c) the commencement date and the termination date of Abatement; <br /> <br />d) the proposed use of the facility, nature of construction, time schedule, plat, <br />property description, and improvement list, as provided in the Application; <br /> <br />e) a statement granting the access to and inspection of the property and proposed <br />improvements by City inspectors and officials to ensure that the improvements or <br />repairs are made according to specifications and conditions of the agreements; <br /> <br />f) contractual obligations in the event of default, violation of terms or conditions, <br />delinquent taxes, recapture, administration and assignment, or other provisions that <br />may be required by state law, or in the discretion of the City Council; <br /> <br />-6- <br />