My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
05-24-10 Council Agenda & Packet
sbend
>
Public
>
Common Council
>
Common Council Agenda Packets
>
2010
>
05-24-10 Council Agenda & Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/1/2015 1:17:00 PM
Creation date
5/20/2010 10:42:58 AM
Metadata
Fields
Template:
City Council - City Clerk
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
70
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
(c) Therefore, a petitioner who fails to file its annual report and meet with the Council's <br />Community and Economic Development Committee as required by section 2 -84.13 shall be <br />fined two thousand five hundred dollars ($2,500.00). <br />(d) A petitioner who complies with section 2- 84.13, but fails to provide evidence as to <br />why it has not fulfilled the obligations set forth in the memorandum of agreement and the <br />petitioner's related documents used by the Council when granting the abatement, may be <br />required to pay part or all of the tax abated to -date and may be fined in the minimum amount of <br />two hundred fifty dollars ($250.00) to a maximum amount of two thousand five hundred dollars <br />($2,500.00) for each such failure to perform. <br />(e) During the term of the abatement, the Community and Economic Development <br />Department may annually request information from the applicant concerning the nature of the <br />project, the approved capital expenditures for the project, the number of full -time permanent <br />positions newly created by the project, and the average wage rates and salaries (excluding <br />benefits and overtime) associated with the positions, and the applicant shall provide adequate <br />written evidence thereof within fifteen (1 S) days of such request (the "annual survey "). The <br />Community and Economic Development Department shall utilize this information and the <br />information required to be filed by the applicant in the CF -1 compliance with statement of <br />benefits form to verify that the applicant has complied with the commitments contained in the <br />memorandum of agreement at all times after the memorandum of agreement date and during the <br />duration of the abatement. The applicant further agrees to provide any additional information <br />requested by the Community and Economic Development Department related to the information <br />provided in the annual survey and the CF -1 form within a reasonable time following any such <br />additional request. <br />(f) The City, by and through the Council, reserves the right to terminate the Economic <br />Revitalization Area designation and associated property tax abatement deductions if it <br />determines that the applicant has not made reasonable efforts to substantially comply with all of <br />the commitments, and the applicant's failure to substantially comply with the commitments was <br />not due to factors beyond its control. <br />(g) As used in this section, factors beyond the control of the applicant shall only include <br />factors not reasonably foreseeable at the time of the designation, application and submission of <br />statement of benefits which are not caused by any act or omission of the applicant and which <br />materially and adversely affect the ability of the applicant to substantially comply with this <br />section. <br />(h) 'If the Council terminates the Economic Revitalization Area designation and <br />associated tax abatement deductions, it may require the applicant to repay all or a portion of the <br />tax abatement savings received through the date of such termination. The amount of tax <br />abatement required to be repaid for each year of noncompliance shall not exceed an amount <br />equal to the percentage by which the applicant has failed to attain substantial compliance in any <br />of the aforementioned investment, position retention and/or creation and average hourly wage <br />31 <br />
The URL can be used to link to this page
Your browser does not support the video tag.