26 - Tax Abatement Agreement for Lionshead Paris LLC

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Modifications of Agreement kaigmuent Admiruit_rat=3 Contract review„ Monitoring and Reporting (Updated 01-10-2022) poi,jcy' s"rA'rEMENT CRITERIA AND GUIDELINES FOR TAXABATEMENT . . . .......................... Jun'sdictions will have access to the reinvestment zone during the term of the Weement to inspect the authorized facility to determine if the terms and conditions of the agreement are being .met. /W inspections will be awade only after the giving of at least twent3p.four (24) hours' prior notice and will only be conducted in such an manner as to not unreasonably interfere with the constrtiction and/or operation of the authorized facility, All inspections will be made, with one ormore Teprezerttatives of thr company or individual and in woorchmce vd."th its safbty MMIZU va standards. 'Upon oorapletion of constmetion, the Taxing Twisdictions shall : y eluate each authorized -facility receiving abatement to ensure, compliance with the, agreement and report j -aossible violations of the �&r an 'axing In dictions goveming bodies. ec . . .... At any -time before the expimuon of an agreement made under these Policies, Criteria and Guidelines, the agreement may be modifiedby the pardess to the agmme to include other pro -visions that could have been included in the original agrement or to delete provisions that were contained in the original agreentent. 'Me inodificafion must be rnade by th- e same procedure by which the or.iginal agreement was approved and exccuteA. The original agreement, however, may not be modified to extend the to of the agreement or the term of abatement. ted therein bey me perxrdqp�b , tat�. law __oad the fi An agreement. may be awmigned to a new ovnw or lessee of the authorized fficility only vdth the prior written consent of the Taxing,Jurisdictions. Any assigranent shall provide thatt the assignee shall hTevocably and unconditionaRy ass all the dudes a -ad obligations of" the assignar upon the sme to and conditions as set out W. the, agreernent, and the Taxing Jurisffictions' approval shall be subject to the determinafion of the financial capabdity of such assignee. Any assignment of an agreement sba ll. be to an entity that contemplates -the same improvements or repairs to the propeaty, except W the extent sunh improvements or repairs have been comply te&:loco assigntnent shall be approved if the assignor or the assignee is ind6bted to the Taxing Jurisdictions for and valorem taxes cw other obligations, or if any event of default under the agreement remains uncure& . . ...... . . . . ......... Each Taxing Jurisrhodon shall be respansiblefbr th- e administration, review, and monitoring of tax, abatement agreements autherized by, ffiem Taxing Jurisdictions iiinder these, Policies, Criteria and, Guidelines., These responsibilities shalliIude annually verifying participants in tax abatement agreemetrLs are in full compliance with the to of the agreement, including completion and submission of all required documents in a timely mianne.r. I The .pans C4 Aftomey shall exP rditiouJun dy advise the Taxing sdictions in writing of any instances of contract non., -compliance by tax abatement participants. Lu addition, the Pmis (,'ity Atte rneyshall, on an annual basis, conduct a perfannance rev tew of the activities, ofeach M abatement participant and report the findings of such review to the leadership and governing 'bodies of each taxing entity., 3 ° 'rho Taxing Jurisdictions' governing bodies s1rall retain the right to indepoudently renliew and aadit the activities gni" tax. abatement, participants, aind shdIbe respomible for enforcement of the tenns ofa4y tax abatement agreement autharm.ed hcreunder. 4" Annually the Buis City Attomey shall report to each of the gone bodies on its u2nitqriq, asd compliance activities and the status of all existing abatement. agreev�q ... .................... 11