(A) The tax exemption extended hereunder may be terminated and the property restored to the tax rolls by resolution duly adopted by the city in any of the following events upon notice of default in writing to the sponsor and the authority by certified mail return receipt requested or by a nationally recognized overnight carrier with receipt acknowledged in writing to the address on file with the Department of Labor and Economic Growth (or successor department) and a failure by the sponsor to cure the default within 30 days following delivery of written notice to the sponsor by the city:
(1) Failure of the sponsor or the housing development to remain in compliance with the terms of this subchapter or the Act;
(2) Failure of the sponsor to complete the rehabilitation as provided in § 35.27; or
(3) Failure of the sponsor to provide reports and documentation as may be required by § 35.28.
(B) Determinations of the event and continuing existence of default and the sufficiency of actions taken to cure default shall be in the sole judgment of the city.
(Ord. 174, passed 4-11-2011)