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At a subsequent regular City Council meeting, the Application for any tax Abatement <br />incentive may be considered. Prior to final approval, all legal documents to effect <br />such Reinvestment Zone(s) and tax Abatement Agreement(s) shall be drafted and <br />approved by the City Attorney. <br />d) Public Hearing. The City will comply with certain public notices and hearings <br />required as mandated by state law under the Property Redevelopment and Tax <br />Abatement Act prior to the designation of a reinvestment zone and execution of a tax <br />abatement agreement. <br />e) Findings. In order to enter into an Agreement, the City Council must find that (i) the <br />terms of the proposed Agreement comply with these Guidelines and Criteria, (ii) <br />there will be no substantial adverse affect on the provision of the City's services or <br />tax base, and (iii) the planned use of the property will not constitute a hazard to <br />public safety, health, or morals. <br />fl Variances. Requests for variance from the provisions of these Guidelines may be <br />made in writing to the City Manager; provided, however, that in no event shall the <br />term of any Abatement exceed the period authorized by applicable state law. Such <br />request shall include a complete description of the circumstances requiring a <br />variance. Approval of a request for variance shall require the affirmative vote of <br />three-fourths (3/4) of the members of the City Council. <br />V. AGREEMENT. After approval, the City Council shall formally pass an order or resolution <br />and authorize the execution of an Agreement with the owner and/or lessee of the facility <br />which shall include, but not be limited to, the following terms: <br />a) the Base Year Value; <br />b) percent of increased value to be abated each year; <br />c) the commencement date and the termination date of Abatement; <br />d) amount of investment and average number of jobs involved during the term of the <br />Agreement; <br />e) the proposed use of the facility, nature of construction, time schedule, plat, property <br />description, and improvement list, as provided in the Application; <br />fl a listing of the kind, number, location, and costs of all proposed improvements of the <br />property; <br />-6- <br />