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(Updated 01.08-18) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT Abatement Agreement Terms and Coadwom After approval, the Taxing Jurisdictions ly puss an order or resolution and authorize the execution of an agreement with the o or lessee of the authorized facility, which shall include, but not be limited to the following tenm and conditions: canbvd TOM &Conditia ,., project The following project wpecifics will be included: riptioa 1. The but year value. 2. Percent of increased value to be abated each year. 3. The commenoellIkent d0W and the t on date of ObaterimIL 4. Amount of investment and UmMe number of jobs involved during the term of the agreesttent. 5. The use of the authorized facility, of wwtvcdon, time schedule, plot, property descriptiari, and improvement list, as provided in the application. 6. A listing of the kind, number, locations, and casts of all PIPPOsOd improvementsof the property. 7. A stateVAW Smiting the uses of the property consistent with the gcntW purpose of encouraging devcjWnumt or re&velopmeat of the reinvestment zone during the period that property tax abatement is in effect. S. That w=n to the project is provided to allow for the inipection by Treeing Jwisdictio& mopectom and officials m order to ensure that the improverneM or repairs are nmde to the specifications and conditions of the agreement 9. That property tax mvennse lost as a ma dt of the tax abutcnelg agreement will be recaptured by the Taxing JuriWictiow if the owner of the property fails to stake the improvements or repairs as provided by the agreement. 10. Each term agreed to by the owner of ft property. 11. A requirensent that the owner of the property shall certify annually to the Taxing Jurisdictions that the owner is in compliance with each applicable term of the agre 12. Contractual obligasions in the evert of default, violation of terms or conditions. delinquent and nasi or other provisions that may be nequiwd by state law, or in the discretion of the Tmdng Jurisdictions' governing body. 13. That the Taxing Jurisdictions may cancel or modify the agreement if the property owner _. fails to Default j if ttheTax Jury rag 'sdictiOns that the perm or entity receiving an abstemetit is is dalbult wcording to the fetus and conditiou of its agreement, the Taxing Jurisdictions shell w6fy dw company or individual in writing at the address stated in the 11910MMI, and if such default is not cured within a reasonable time specified in such notice C'cure period"), then the agreement racy be modified or tegmingited without fivther notice. In the event the company or individual allows its ad valorem taxes owed to the Taxing Jurisdictions to bewme delinquem deliand faik to timely and properly follow the legal procedures for their protest andlor contest, or violates any of the terms and conditions of the agreement and fails to cure during the me period, the agreement then may be modified or terminated without further notice, and the agreement may provide a formula far recapture of all or part of the taxes abated. At any time before the expiration, any tax abatement agiewwo nay be terminated by mutual eansem. of all parties involved in the sme manner that the s tent was examt0i.w... . "w�._... .�� Caafrdentiality Itif thti is provided toga Taxing Jurisdictioo in connection with an 44&01021 or request of proprietary fartax obaftwnt under these policies, Criteria and Guidelines, and that desmibes the specific Infornution Processes or businessactivities to be conducted or the cquomew or other property to be located on the property for which tax abateratnt is sought is confidential and not subject to public disclosure until theagreenmi is executed. Such inforroation in the custody of the Taxing Jurisdictions atter thea ent is executed is not rostfidentsal er .. w . ". �.. ." flues Tax the i T}w R n .yrs nr small stir �nlete that e33YP)0 , ami/ Or ds s rood �roof 10