R2021-182 Resolution Approving an Amendment to the Decatur Macon County Enterprise Zone Intergovernmental Agreement

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the eligible Office/Knowledge-based, Warehouse/Distribution/Logistic(s) and Industrial/Manufacturing-based projects or documentation that minimum increases in equalized assessed valuation have been met for eligible retail, restaurant, hotel/motel and commercial projects, and said Administrator is hereby authorized to enter such agreements on behalf of the Decatur Macon County Enterprise Zone. 1) Entities receiving property tax abatement for eligible Office/Knowledge- based, Warehouse/Distribution/Logistic(s) and Industrial/Manufacturing- based projects must agree to maintain a minimum of 90%of the employment levels at that location as described in the Memorandum of Understanding for the term of abatement. At the discretion of the Enterprise Zone Administrator, with the advice and consent of the Enterprise Zone Advisory Board,failure to maintain a minimum of 90%of the employment levels during the agreement period may result in the immediate termination of remaining abatement and/or the pro- rata repayment of previously abated real property taxes to the applicable taxing districts. 2) Entities receiving property tax abatement for eligible retail, restaurant, hotel/motel and commercial projects must provide documentation of increased assessed valuation as a result of the project in the form of a Notice of Assessment Change from the Macon County Supervisor of Assessment's Office or similar documentation as deemed appropriate by the Decatur Macon County Enterprise Zone Administrator,with the advice and consent of the Enterprise Zone Advisory Board. 3) The Administrator of the Decatur Macon County Enterprise Zone will annually monitor the performance of the eligible recipients of property tax abatement in order to ensure that job and investment projections as well as changes in equalized assessed valuation outlined in the Memorandum of Understanding are being met. 4) The Administrator of the Decatur Macon County Enterprise Zone, with advice and consent of the Enterprise Zone Advisory Board, may elect to waive enforcement of any performance measures outlined in the Memorandum of Understanding based on a finding that the waiver is necessary to avert an imminent, demonstrable, and material hardship to the entity that may result in such entity's insolvency or discharge of workers. 5) Upon the effective date of this agreement, all incentives and benefits previously offered and in effect in the Decatur Macon County Enterprise Zone#39 expiring July 1, 2016, shall continue for the term of the newly