Res 1999-116 - Laserfiche WebLink

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Page 4 year of the Abatement Period, then Hays Energy's Tax Abatement for the following tax year will be limited to Al27 of the taxable value of the Facility, with "A" being the number of full-time jobs maintained during the previous calendar year. Section 5.04. If this Agreement is terminated under this Section, Hays Energy will pay to the City the full value of all fee waivers provided for in Section 6 below within 60 days of the termination date. The City will be entitled to record a lien against the Property to secure the full value of the fees so waived if this payment is not timely made. In addition, any remaining period for the economic development incentive rate for the sale of reclaimed water by the City to Hays Energy under Section 6.01 will be rescinded, and Hays Energy will thereafter pay the prevailing rate for the water as established by the City's governing body. Section 5.05. At the time this Agreement is fully performed by Hays Energy, and upon the written request of Hays Energy, the City Manager will execute a certificate in recordable form stating this Agreement has been performed, and Hays Energy will be released of all further duties or obligations under this Agreement. Section 5.06. The City Council reserves the sole discretion to choose among the remedies for default enumerated in Sections 5.01 through 5.04 above. These remedies may be used in conjunction with one another or separately, and together with any other statutory or common law remedies available to the City. PART 6. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 6.01. As partial consideration for the construction of the Facility and the creation of the jobs by Hays Energy described in Part 2 above, the City agrees to provide the following incentives and benefits to Hays Energy: 1. The City agrees to waive all City fees (the "Fee Waiver") associated with zoning, the subdivision process, and building permits and inspections associated with the construction of the Facility. The Fee Waiver does not extend to water and wastewater impact fees charged by the City. 2. The City agrees to expedite the process for all hearings, reviews, inspections and contacts with City staff in order to ensure the timely completion of the construction