|
(Readopted 01 13 20 20)
<br />POLICY STATEMENT
<br />CRITERIA AND GUI.DELINES FOR I'AX AIIATEMENT
<br />APPENDIX B
<br />Aba,temont Agreernexit Terms and, Conditions
<br />Afte,T,-,ipp�iii.,,t,h(.-,'T'axink Judsdichi ons sha'111.1 :t nal (a
<br />an rder or resolution d a
<br />aniuthonze
<br />P
<br />the executiotem of an agreemetat witti, the owner and/or lessee of the authorized facilitwhic s
<br />y, h hall
<br />include,bmit not be limited to the Ulowing tir,-,rms onifitions:
<br />Pnoject
<br />Descn.ption
<br />Defindt
<br />Confidenth,:.Ilhty
<br />of Proprietwy
<br />Information
<br />Contract Te'luns & Conditions
<br />The fofl.ovdng project specifics will be included:
<br />L 'Fhelmse year value.
<br />I Percent of inermsed vulue to be abated each,ar
<br />Ye .
<br />I The commencement, date and the tenmination date of almtement.
<br />4. Amount of investment and average nung.-)er of Jobs involved duling the tenn of the
<br />ment
<br />5. rbe proposed -use of the authonzed facifity, nature, of construction., time schedule, plat,
<br />pr opo description,and improvement list, as pro,6,Ied in the app lication.
<br />6. A fisfing of the kind, uuimber, location, and costs of all proposed. improvements of the
<br />property�,
<br />7., A ftteinent limidng the uses of the prcpcity consistent with dic, gtmcral purpose of
<br />encouraging deve'lopment or redevelopme-nt ofdid reinvestment, zone during, the peii!iod that,
<br />prop
<br />erty tax abatement is hi effect.
<br />8. That access to the project is provided to allow for the inspection by iowe
<br />iwTq ex,,tors and officidis irp. order to ensure that the, iMprovernents or rep. airs are made
<br />according to the %pecifications and condition. S of the agreement.
<br />9" That I.xroperty tax. revenue lost as a resiAt of the tax: abatement agreement will belv4.,,aptured byr
<br />the, 'p" .inn Jurisdictions if the owner of the property fails to make the, improvements or
<br />.repairs as provided by Itie agreement,
<br />10Edch term agreed to by the awoer of the property.
<br />IL A regairemext that the, (,)wner of the ptx-)perty she certily annually to the Taxing Junisdictions
<br />ffiat ffie owneris in compliance with ea6h. applicable tenn oftlie agreement.
<br />12. ("Ontractmi obligatiorn in the event of def hult, violation of tenns or conditions, delitiquent
<br />taxes, rorapt ure, a(kninistration and assignment, or other provisions that may be required by
<br />TAW lamr, or in the disicr etion. of the Taxhig Ainisdictions' governing body.
<br />13. That the T&King Jurisdiii:,,,tions nray cancel ar modify the agreement if tlie propeay, owner
<br />fails to cOM, 11 met. n
<br />1� y' with the �Vea
<br />. . ...... . . .. .. ........... ..... ............. . . . .... . . - - - -
<br />If the Tax ig Jurisdictions 4-Jetermine that ffi e perwn or entity. receiving an ahatf.eYncnt is in default
<br />acoording to the terras med conditions of its agreemcnt, the Taxing Jurisdictions sl:iall notify the
<br />compway or individual in writing at the wldrtlss rAatx-,d in the agreement, arid if mch dei' nrht is not,
<br />cured within a reasonable time specified in such notice ("cure; peniod"), then the agi exa.nemt may
<br />be modified or terminated vAthout further notice. In the event the company m:)r individual allows
<br />its ad valorem tues owed to the'raxing Jurisdictions to became delinquent andffils tom mnely
<br />and pmperiyfollow the legal prom—duires :for their protest and/or conteA, or violates any of the
<br />t=s and conditions of the ag..cement arid fOs to cure during the cuire period, the agreement then
<br />may, be modified or tenninated without further nckice, and the agreement may provide a formula
<br />or recapture of all ar part of the taxes abated. At any time before, the eapiration, any tax
<br />abatern mt agmement may be tenninated by mutual consent. of all pardes involveAl in. the same
<br />Mumer t, the a eni was executed,
<br />- --------------------------- - - ----- ----
<br />TAffirmation that is provided to a Taxing harisdiction in connection with m, apphcation or reque-st
<br />fortax abatement under these Policies, Cniteria and Guidelines, and that describes the specific
<br />processes or busine%m aztivitim to be conducted or the equipment or other property to be located on
<br />the property for Which tax abatement is soughtis confidentiad and not mNect to public disclosure
<br />Until the agrttrnent is executed. Skx,-,h irdbrmation in the custody af the Tax-ingJarisdictiodms after
<br />the pgreen-�.� is execated is not confidential here-unden
<br />- -------- - -------- . ..... ........ . . ...... ... . . ...... 111- ............... ..... ...................... . . ...............
<br />The agm�nwnt %'hall s late that emplqyces and( or designated rqiresp��ative of 03C
<br />S
<br />... ...... ..... ........ . . ......
<br />M
<br />
|