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05-24-10 Council Agenda & Packet
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05-24-10 Council Agenda & Packet
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5/20/2010 10:42:58 AM
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City Council - City Clerk
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rate and salary categories multiplied by the dollar amount of taxes actually abated. If the <br />applicant fails to comply with more than one of the aforementioned categories, repayment shall <br />be based on the highest level of non - compliance. The City's Legal Department is hereby <br />authorized to pursue all legal actions necessary in the event of such non - compliance or failure by <br />the applicant to perform other duties and responsibilities arising when it agreed to certain <br />contractual obligations by signing the memorandum of agreement. <br />(i) If at any time during the term of the agreement, whether before or after the <br />commitment date, the applicant shall: (i) cease operations at the facility for which the tax <br />abatement was granted; or (ii) announce the cessation of operations at such facility, then the <br />Council may immediately terminate the Economic Revitalization Area designation and <br />associated tax abatement deductions, and upon such termination, require applicant to repay all of <br />the tax abatement savings received through the date of such termination. <br />Section II. 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 />Attest: <br />City Clerk <br />Member, South Bend Common Cou `il <br />�lm�yfog, �.� b!"'u- e� a .gg��', �r <br />for x.Gp � iYp�43� #3 � Y'� <br />< , <br />Presented by me to the Mayor of the City of South Bend, Indiana on the day <br />of , 2 , at o'clock , M. <br />City Clerk <br />Approved and signed by me on the day of , 2 , at <br />o'clock . m. <br />ZA v <br />NOT APFkQVW <br />WERPM <br />DASSEA <br />Mayor, City of S <br />32 <br />11,11 AY ? 2010 <br />Crry C,Eff #r', �'Q. E_IN"), IN. <br />
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