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<br />g) amount of investment and average number of jobs involved during the term of the <br />Agreement; <br /> <br />h) a statement limiting the uses of the property consistent with the general purpose of <br />encouraging development or redevelopment of the zone during the period that <br />property tax exemptions are in effect; <br /> <br />i) a statement providing for the recapturing of property tax revenue lost as a result <br />of the agreement if the owner of the property fails to make the improvements or <br />repairs as provided by the agreement; <br /> <br />j) each term agreed to by the owner of the property; <br /> <br />k) a statement requiring the property owner to certify annually to the City Council <br />that the owner is in compliance with each applicable term of the agreement; and <br /> <br />1) a statement providing that the City Council may cancel or modify the agreement <br />if the property owner fails to comply with the agreement. <br /> <br />VI. D EF A UL T. If the City determines that the person or entity receiving an Abatement is in <br />default according to the terms and conditions of its Agreement, the City shall notify the <br />company or individual in writing at the address stated in the Agreement, and if such <br />default is not cured within a reasonable period of time specified in such notice (UCure <br />Period"), then the Agreement may be modified or terminated without further notice. <br /> <br />In the event that the company or individual (i) allows its ad valorem taxes owed the City <br />to become delinquent and fails to timely and properly follow the legal procedures for their <br />protest and/or contest, or (ii) violates any of the terms and conditions of the Agreement <br />and fails to cure during the Cure Period, the Agreement then may be modified or <br />terminated without further notice, and the Agreement may provide a formula for recapture <br />of all or part of the taxes abated. <br /> <br />VII. CONFIDENTIALITY OF PROPRIETARY INFORMATION. Information that is <br />provided to a taxing unit in connection with an application or request for tax Abatement <br />under these Guidelines and that describes the specific processes or business activities to be <br />conducted or the equipment or other property to be located on the property for which tax <br />Abatement is sought is confidential and not subject to public disclosure until the <br />Agreement is executed. Such information in the custody of the City after the Agreement <br />is executed is not confidential under these Guidelines. <br /> <br />VIII. PROPOSED T AX ABATEMENT AGREEMENTS TO BE DECIDED ON AN <br />INDIVIDUAL BASIS. The adoption of these Guidelines by the City Council does not (i) <br />limit the discretion of the City Council to decide whether to enter into a specific tax <br /> <br />-7- <br />