119.03 TAX INCENTIVE REVIEW COUNCIL.

   (a)   Composition. A Tax Incentive Review Council is hereby created, pursuant to State law and in cooperation with the Cuyahoga County Commissioners. The Tax Incentive Review Council shall be composed of the following membership:

      (1)   Two members appointed by the Mayor, with the approval of Council;

      (2)   The Cuyahoga County Auditor or his designee;

      (3)   A member of the Board of Education of the Mayfield City School District; and

      (4)   Three members, acting as citizens, who shall be initially designated by the City Council, and subject to ratification by the Board of Commissioners of Cuyahoga County.

      (5)   At least two members of the Tax Incentive Review Council shall be residents of the City of Highland Heights.

         (Ord. 47-1993. Passed 11-23-93.)

   (b)   Terms. Members shall serve for terms as follows:

      (1)   The Cuyahoga County Auditor or his designee shall have a continuing term;

      (2)   The membership to be filled by the Board of Education of the School District shall be for a continuing term;

      (3)   The balance of the members shall serve staggered terms, which shall include two one-year terms, two two-year terms, and one three-year term. Such staggered terms shall be assigned to the five members serving limited terms pursuant to a drawing done by lot, by the members at their initial organization meeting; and

      (4)   Thereafter, upon the expiration of each respective staggered term, such position shall be filled by appointment of a member for a term of three years, and following the same procedures as were followed to appoint such member in the first instance. All of the initial appointments will be for terms which will be effective as of December 31, 1993.

         (Ord. 12-1997. Passed 3-11-97.)

   (c)   Meetings. Within sixty days after initial appointment of all members, the Tax Incentive Review Council shall hold its organizational meeting, shall elect a Chairman from among its membership, and shall adopt such rules of procedure from time to time as are necessary and appropriate to carrying out its functions, and as are consistent with the State Enterprise Zone Program, the City's guidelines, and the ordinances of the City. Members shall serve without compensation.

   (d)   Duties. The Tax Incentive Review Council will monitor compliance with the requirements of enterprise zone agreements. The Tax Incentive Review Council will monitor specific enterprise zone projects at least upon an annual basis, and shall review all enterprise zone agreements annually to determine whether businesses have complied with their terms and conditions. The Tax Incentive Review Council shall provide an annual report to the Mayor and to the City Council based upon its annual review of enterprise zone agreements and business compliance, and including any recommendations by the Tax Incentive Review Council.

   (e)   City Council. The City Council reserves the option of reducing or terminating any or all tax exemptions approved in an enterprise zone agreement, if after taking into account the review and recommendation of the Tax Incentive Review Council, and after making such additional review as the City Council determines appropriate, the City Council determines that there has been a substantial or material lack of compliance by a business with its covenants made in an enterprise zone agreement.

(Ord. 47-1993. Passed 11-23-93.)