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EXISTING CHAPTER 380 POLICY—TO BE REPLACED BY NEW PROGRAM <br />Section V. Evaluation <br />Upon completion of the construction of any buildings, facilities, or other property improvements upon <br />which the abatement is based, the city shall no less than annually evaluate each project receiving an <br />abatement to ensure compliance with the terms of the agreement. Any incidents of non-compliance will <br />be reported to all affected taxing units. <br />Section VI. Severability and Limitation <br />In the event that any section, clause, sentence, paragraph or any part of this Tax Abatement Policy shall, <br />for any reason, be adjudged by any court of competent jurisdiction to be invalid, such invalidity shall not <br />affect, impair, or invalidate the remainder of the guidelines and criteria in this Tax Abatement Policy, <br />Section VII. Expiration and Modification <br />This Tax Abatement Policy is effective upon the date of its adoption and will remain in force for two years, <br />at which time all reinvestment zones and tax abatement contracts created pursuant to its provisions will <br />be reviewed by the city council to determine whether the objectives of the abatement program are being <br />achieved. Based upon that review, this Tax Abatement Policy may be modified, renewed or eliminated. <br />However, any contracts created pursuant to this Policy will remain in effect according to their respective <br />contract terms without regard to any change to this Abatement Policy unless mutually agreed by the <br />contract parties. Prior to the scheduled date for review, as defined above, this Tax Abatement Policy may <br />be modified by a three-fourths vote of the city council, as provided for in Chapter 312 of the Texas Tax <br />Code. <br />