07-A K-C Tax Abatement Res - Laserfiche WebLink

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. e ... ~ . , & .. . .. .- .' x. XI. XII. T . .'~ . ~.1 i. .';") . . '-'. " limit the discretion of the City Council to decide whether to enter into a specific tax Abatement agreement, or (ii) limit the discretion of the City to delegate to its employees the authority to determine whether or not the City Council should consider a particular application or request for tax Abatement, or (iii) create any property, contract, or other legal right in any person or entity to have the City Council consider or grant a specific application or request for tax Abatement. IX. INSPECTIONS. The Agreement shall stipulate that employees and/or designated representatives of the City will have access to the Reinvestment Zone during the term of the Agreement to inspect the facility to determine if the tenus and conditions of the Agreement are being met. All inspections \vill be made only after the giving of at least twenty-four (24) hours' prior notice and will only be conducted in such manner as to not unreasonably interfere with the construction and/or operation of the facility. All inspections \vill be made with one or more representatives of the company or individual and in accordance with its safety standards. " Upon completion of construction, the City shall annually evaluate each facility receiving Abatement to ensure compliance with the Agreement and report possible violations of the Agreement to the City Council. MODIFICATIONS OF AGREEMENT. At any time before the expiration of an Agreement made under these Guidelines, the Agreement may be modified by the parties to the Agreement to include other provisions that' could have been included in the original Agreement or to delete provisions that \vere contained in the original Agreement. The modification must be made by the same procedure by which the original Agreement \vas approved and executed. The original Agreement, however, may not be modified to extend the term of the Agreement or the term of the Abatement granted therein beyond the time permitted by state law. . ASSIGNMENT. An Agreement may be assigned to a new o\vner or lessee of the facility only with the prior \vritten consent of the City. Any assignment shall provide that the assignee shall irrevocably and unconditionally assume all the duties and obligations of the assignor upon the same terms and conditions as set out in the Agreement, and the City's approval shall be subject to the determination of the financial capability of such assignee. Any assignment of an Agreement shall be to an entity that contemplates the same improvements or repairs to the property, except to the extent such improvements or repairs have been completed. No assignment shall be approved if the assignor or the assignee are indebted to the City for ad valorem taxes or other obligations, or if any event of default under the Agreement remains uncured. AMENDMENTS. These Guidelines are effective for two (2) a year period from the date of their adoption, unless amended or repealed by the affirmative vote of three-fourths (3/4) of the members of the City Council. -10- I