The TIRC shall:
(a) Review all exemptions from property taxation granted by the City and any performance or audit reports required to be submitted in order to determine whether the party receiving the exemption has complied with the terms of the tax exemption.
(b) Determine whether the owner of the exempted property bas complied with the terms of the exemption, and may take into consideration any fluctuations in the business cycle unique to the owner's business.
(c) On or before the first day of September of each year, submit to the City Council written recommendations for continuation, modification, or cancellation of each exemption granted. The City Council may take any action available to a party to a contract or agreement to obtain compliance with the exemption.
(Ord. 49-2019. Passed 5-14-19.)