08 - Re-Establishing Reinvestment Zone 2015-1 as Reinvestment Zone 2020-1

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(c) Limit the uses of the property consistent with the general purpose of encouraging the development and redevelopment of the Reinvestment Zone during the period that property tax exemptions are in effect; and (d) Provide for recapturing property tax revenue lost as a result of the Agreement if the owner of the property fails to make the improvements or maintain the improvements as provided in the Agreement. (e) Require the owner of the property to certify annually to the governing body that the owner is in compliance with each applicable term of the Agreement; (f) Provide that the governing body of the municipality may cancel or modify the Agreement if the property owner fails to comply with the Agreement. SECTION 7. Severability. That it is the intention of the City Council of the City of Paris that this ordinance and every provision hereof, shall be considered severable, and the invalidity or partial invalidity of any section, clause, or provisions of this ordinance shall not affect the validity of any other portion of this ordinance. SECTION 8. Effective Date. This ordinance shall become effective from and after its passage and publication as required by law. PASSED AND ADOPTED this 10th day of February, 2020. Steven 1. Clifford, M.D., Mayor ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney