Sec. 130-524. Failure to comply.
(a) Any incentive provided hereunder shall terminate immediately upon the occurrence of any of the following events:
(1) The taxpayer fails to create jobs that meet each of the criteria established by section 130-523(c) within 12 months following the execution of an incentive agreement; provided that such failure shall not preclude the taxpayer from reapplying for an incentive hereunder if, thereafter, the taxpayer creates jobs that meet each of the criteria established by section 130-523(c);
(2) As of the close of each 12-month period following the date upon which the taxpayer creates jobs that meet each of the criteria established by section 130-523(c), the taxpayer has failed to maintain the minimum number of jobs required by that section;
(3) As of the close of each 12-month period following the date upon which the taxpayer creates jobs that meet each of the criteria established by section 130-523(c), with respect to any job created for which an incentive is provided, the taxpayer has failed to meet each of the remaining criteria established by that section and such failure has caused the taxpayer to fall below the minimum number of jobs required by that section; or
(4) The taxpayer has failed to perform any covenant or material obligation under the terms of an incentive agreement and to cure such non-performance within a reasonable cure period provided therein.
(b) If, as of the close of each 12-month period following the date upon which the taxpayer creates jobs that meet each of the criteria established by section 130-523(c), the taxpayer has, for any reason, failed to maintain all of the jobs created for which the incentive has been provided or, with respect to any such job, has failed to meet each of the criteria established by that section, only that portion of the incentive attributable to such job shall be terminated, provided that such failure has not caused the taxpayer to fall below the minimum number of jobs required by that section.
(c) In addition to terminating an incentive as provided by this section, the city may impose such other sanctions upon the taxpayer as may be available under applicable law, including but not limited to reimbursement of all or a portion of the taxes rebated and payments made by the city with reasonable interest thereon. (Ord. No. 2012-07, § 3, 3-5-2012; Ord. No. 2010-22, § 1, 5-17-2010)