9394-03 Amend Chapter 2, Replacing in its entirety Article 6 Entitled Tax Abatement Procedures

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such non-compliance or failure by the applicant to perform other duties and responsibilities arising when it agreed to certain contractual obligations by signing the Memorandum of Agreement. I. If at any time during the term of the Agreement, whether before or after the commitment date, the applicant shall: (i) cease operations at the facility for which the tax abatement was granted; or (ii) announce the cessation of operations at such facility, then the Council may immediately terminate the Economic Revitalization Area designation and associated tax abatement deductions, and upon such termination, require applicant to repay all of the tax abatement savings received through the date of such termination. Sec. 2-84.15. Annual Summary To Be Prepared By Community And Economic Development Department A. On or before March 31 of each year, the Community and Economic Development Department shat{ file an annual report with the City Clerk and Council summarizing all tax abatement activity for the past calendar year. The report shall include, but not be limited to, the following information: The number of tax abatement petitions filed, number and type of abatement granted, names and addresses of all petitioners who failed to comply with section 2-84.13, and other relevant information. The report shall include a copy of the County Auditor's information published by the County Auditor as required by I.C. 6-1.1-12.1- 8. B. The report shall be used as one (1) of the items of evidence when imposing fines against the petitioners who fail to comply, or when terminating an Economic Revitalization Area, or when pursuing other legal action. Sec. 2-84.16. Review Of Tax Abatement Procedures By Council A. In calendar years ending with an even number, the Council shall review its tax abatement procedures set forth in this article. B. The review shalt be conducted by the Council's Community and Economic Development Committee with a report of its findings being presented to the full Council on or before October 1 of such years. C. Nothing in this section prohibits a more frequent review of such procedures. Sec.2-84.17. Severability If any part, section, subsection, sentence, clause, or phrase of this Article is for any reason declared to be unconstitutional or otherwise invalid, such decision shall not affect the validity of the remaining portions of this Article. Section II This ordinance shall be in full force and effect on and after August 15, 2003, and after its passage by the Council, approval by the Mayor, and legal publication. 1 st READING ~ ' Z1 ~ 0 3 PUBLIC HEARING Z-IO - O 3 '3 rd READING 2_t ~- 03 NOT APPROVED REFERRED PASSED -Z-1 ~~ 0~ Tax Abatement Ord f~ a S~ N~~~~ !~tl+ALlfi1-+ J~~=9 ~ ~ X003 Lar+u'°tT/1 J. DrdD Page 48