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3) The Administrator of the Decatur Macon County Enterprise Zone, <br /> will annually monitor the performance of the eligible recipients of <br /> property tax abatement in order to ensure that job and investment <br /> projections as well as changes in equalized assessed valuation outlined <br /> in the Memorandum of Understanding are being met. <br /> 4) The Administrator of the Decatur Macon County Enterprise Zone, <br /> with guidance and concurrence of the Enterprise Zone Advisory Board, <br /> may elect to waive enforcement of any performance measures outlined <br /> in the Memorandum of Understanding based on a finding that the <br /> waiver is necessary to avert an imminent, demonstrable, and material <br /> hardship to the entity that may result in such entity's insolvency or <br /> discharge of workers. <br /> 5) Upon the effective date of this amending ordinance,all incentives and benefits <br /> previously offered shall continue for the revised term of the Decatur Macon County <br /> Enterprise Zone for the following two groups: <br /> a) Business enterprises which are receiving benefits or incentives in the Decatur <br /> Macon County Enterprise Zone on the effective date of this amending <br /> ordinance; <br /> b) Business enterprises or expansions which are proposed or under <br /> development on the effective date of this amending ordinance, if the business <br /> enterprise demonstrates that: <br /> i) the proposed business enterprise or expansion has been committed to <br /> locating or expanding in the zone; <br /> ii) substantial or binding financial obligations have been made; <br /> iii) such commitments have been made in reasonable reliance on the <br /> benefits and programs which would have previously been available <br /> because of the enterprise zone. <br /> Section 3. The Decatur City Council encourages companies receiving Enterprise Zone <br /> benefits,as provided herein,to utilize local labor and to purchase building materials locally. <br /> Section 4. All Ordinances or parts of Ordinances conflicting with any provisions of this <br /> Ordinance shall be and the same are, hereby repealed. <br /> Section 5. This Ordinance shall be in effect from and after its passage, approval and <br /> recording according to law. <br /> BE IT FURTHER RESOLVED that this Ordinance shall become effective immediately upon the <br /> adoption thereof <br />