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Section IL Section 2 -84.14 is amended only at subpart (a) and the remainder of Section 2 -84 -14 <br />is unchanged by this Ordinance. Subpart (a) shall now read as follows: <br />Sec. 2- 84.14. Failure of petitioner to comply may result in #fines being imposed or <br />termination of economic revitalization designation and repayment of taxes previously <br />abated.* <br />*Note: IC 6 -101- 12.1 -5 -9, Version b provides in part that if the Common Council "determines <br />that the property owner has not substantially complied with the statement of benefits and that the <br />failure to substantially comply was not caused by factors beyond the control of the property <br />owner" (such as declines in demand for the property owner's products or services) the Council <br />shall hold a hearing after proper notice has been given, with the Council determining whether the <br />property owner has "made reasonable efforts to substantially comply with the statement of <br />benefits and whether any failure to substantially comply was caused by factors beyond the <br />control of the property owner ". <br />(a) The Council believes that the granting of a request for real and /or personal property <br />tax abatement under the terms and conditions of this article and the memorandum of agreement <br />constitutes a contractual arrangement between the Council and the property owner granted the <br />abatement. <br />Section 111. This Ordinance shall be in full force and effect from and after its adoption by the <br />Common Council, approval by the Mayor, and any publication required by law. <br />Member, South Bend Common Cuncil <br />Attest: <br />City Clerk <br />Presented by me to the Mayor of the City of South Bend, Indiana on the <br />of , 2 , at o'clock <br />Approved and signed by me on the <br />o'clock . m. <br />€:E/ DING <br />PE3RiC HFARING <br />3 rd READiNG <br />NOT APPROVED <br />REFERRED <br />. m. <br />City Clerk <br />day of <br />Mayor, City of South <br />30 <br />and <br />day <br />2 , at <br />18 €r, e R p <br />nr <br />SPA'. ° =� irry F•�^ <br />MY r. U` ;o, <br />