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<br />(a) estimated value to be abated and the Base Year <br /> <br />Value; <br /> <br />(b) percent of value to be abated each year; <br /> <br />(c) the commencement date and the termination date of <br />Abatement; <br /> <br />(d) the proposed use of the facility, nature of <br />construction, time schedule, plat, property description and <br />improvement list, as provided in the Application; <br /> <br />(e) contractual obligations in the event of default, <br />violation of terms or conditions, delinquent taxes, recapture, <br />administration and assignment or other provisions that may be <br />required by state law, or in the discretion of the City Council; <br />and <br />(f) amount of investment and average number of jobs <br />involved during the term of the Agreement. <br /> <br />6. DEFAULT. If the City determines that the person or <br />entity receiving an Abatement is, in default according to the <br />terms and conditions of its Agreement, the city shall notify the <br />company or individual in writing at the address stated in the <br />Agreement, and if, such default is not cured within a reasonable <br />period of time specified in such notice (IICure Period"), then the <br />Agreement may be terminated without further notice. <br /> <br />In the event that the company or individual (i) allows <br />its ad valorem taxes owed the City to become delinquent and fails <br />to timely and properly follovl the legal procedures for their <br />protest and/or contest; or (ii) violates any of the terms and <br />conditions of the Agreement and fails to cure during the Cure <br />Period, the Agreement then may be terminated without further <br />notice, and the Agreement may provide a formula for recapture of <br />all or part of the taxes abated. <br /> <br />7. CONFIDENTIALITY OF PROPRIETARY INFORMATION. Informa- <br />tion that is provided to a taxing unit in connection with an <br />application or request for tax Abatement under these Guidelines <br />and that describes the specific processes or business activities <br />to be conducted or the equipment or other property to be located <br />on the property for which tax Abatement is sought is confidential <br />and not subj ect to public disclosure until the Agreement is <br />executed. Such information in the custody of the City after the <br />Agreement is executed is not confidential under these Guidelines. <br /> <br />8. PROPOSED TAX ABATE~1ENT AGREEMENTS TO BE DECIDED ON AN <br />INDIVIDUAL BASIS. The adoption of these Guidelines by the City <br />Council does not (a) limit the discretion of the City Council to <br />decide whether to enter into a specific tax Abatement agreement, <br /> <br />jmw3:373a/cgl <br />041090-1 <br /> <br />-6- <br />