Laserfiche WebLink
<br /> 101?- 7~~ ~3i3 <br /> - ~ --.... J..7 <br /> 3 <br /> 3. <br /> TERM, ABATEMENT PERIOD AND RATE OF ABATEMENT <br /> A. The existing and any real estate or ad valorem property <br />taxes hereafter imposed by the city (the "Abated Taxes") on one <br />hundred percent (100%) of the increase in taxable value of the <br />Property, up to a maximum of $2 Million in abated value, shall be <br />abated (the "Tax Abatement") for one (1) calendar year, provided <br />that the Owners satisfy all of their obligations under this <br />Agreement. The one (1) year of Tax Abatement (the "Abatement <br />Period") shall be the tax year 1994. <br /> B. The Tax Abatement shall include one hundred percent <br />(100%) of the increase in the value of the Property and permanent <br /> ¿ <br />improvements attached thereto. The Tax Abatement shall not include <br />any personal property. <br /> 4. <br /> RECORDS AND AUDITS <br /> A. On or before April 1, 1994 the Owners shall furnish to <br />the city certified records supportiqg the Owners' request for tax <br />abatement for 1994 year. These records shall pertain to the <br />Owners' compliance with this Agreement for the twelve months <br />preceding the date of the report. The city shall evaluate the <br />information furnished, and shall have the right to request and <br />receive from the Owners additional relevant information needed to <br />help the city determine the Owners' compliance with this Agreement. <br />Upon the City's verification of compliance with this Agreement by <br />the Owners, the city shall issue a tax abatement certificate to the <br />