By entering into any of the incentive programs as set out in Chapter 187
, all applicants agree and understand that the applicant shall be liable to pay to the City of Salem double the amount of any tax incentive received while in any one of the Income Tax Incentive Programs within ninety (90) days of relocating the income tax paying entity outside the City of Salem Income Tax Jurisdiction or closing the income tax paying entity operation in the City of Salem, if said relocation or closing occurs during participation in any one of the Income Tax Incentive Programs or within three (3) years after loss of eligibility or completion of any one of the Income Tax Incentive Programs.
(Ord. 210119-01. Passed 1-19-21.)
CODIFIED ORDINANCES OF SALEM