2022-047 - Approviing a Tax Abatement Agreement With Lionshead Paris, LLC

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and verifying or enforcing compliance with this Agreement, or as otherwise required by law. Said representative shall also be required to observe any facility rule and regulation applicable to the Property. Nothing herein shall be construed as limiting the City's ability to perform inspections or to enter the Property the subject of this Agreement. X. Reporting Requirements 10.1 Initial Report: The Owner further agrees that it will, by April 15, 2024, provide the City with a sworn report, written on Owner's letterhead and signed by a designated representative of Owner, which contains the following information relating to the improvements completed in the year 2023: (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the Property as of January 1, 2022, prior to the construction of the Improvements; (b) Detailed description of the Improvements; (c) A detailed description of any miscellaneous items of office equipment and the actual cost of such added office equipment; (d) A copy of or identification of plans and specifications of constructed improvements and the location of the same for inspection by City's certification team; (e) A detailed list of and the actual cost of added machinery and equipment; (f) The actual cost of capital Improvements; and, (g) The date of substantial completion of the Improvements as defined in paragraph 3.1 hereof. 10.2 Annual Report on Compliance for Each Year of the Abatement Period: In addition to the report required in Paragraph 10.1 hereinabove, Owner further agrees that by April 15th of each year of this Agreement beginning in the year 2025, it will provide the City with an annual sworn report which shall certify, in writing, that it is in compliance with each applicable term of this Agreement. Such annual report shall be furnished in the form attached hereto as Exhibit 5 and incorporated herein by reference and shall reflect the prior fiscal year. Owner shall attach thereto copies of the employer reference summary page of its Texas Workforce Commission Employer's Quarterly Reports for the calendar year immediately preceding the date of the annual report required by this section, and the report shall contain a sworn statement signed by the Plant Manager or an Officer of the Company certifying that the information provided in the summary page is a true and valid report filed with the Texas Workforce Commission. 10.3 The reporting requirements and deadlines set forth herein are an integral and material part of this Agreement, and Owner acknowledges that failure to timely