(A) A recipient of a tax abatement from the city shall file a written report with the city on or before the first day of July of each year the abatement exists. The report shall be delivered to the Department of Community Development and will be reviewed by the Administrator and the Tax Abatement Committee to determine whether the recipient has met or is meeting the goals asserted when the application was made and approved. The Tax Abatement Committee shall report to the Common Council any substantial lack of compliance by a recipient.
(B) The Common Council after reasonable notice to the recipient may hold a public hearing. Should a lack of compliance be found by a majority of the Common Council, they may:
(1) Issue a warning to recipient with directions for steps to comply; or
(2) Direct the Mayor and City Attorney to take legal steps to rescind the tax abatement.
(Ord. 3080, passed 11-2-92)