Any incentive or benefit provided under this program, or under any economic development authority of the City of Harker Heights, shall be accompanied by contractual protections to ensure that:
(A) The public purpose of economic development, creation of new jobs, retention of existing jobs and businesses, stimulation of the local economy, economic diversification, limitation of unemployment or underemployment may be served;
(B) There is protection and verifiable accountability for the handling of public money;
(C) The city receives consideration in the form of economic development benefits to the city and its citizens; and
(D) The city has remedies to recoup incentives, as appropriate, from a business if it fails to meet certain performance standards set by the City Council.
(Ord. 2021-20, passed 4-13-21)