4. Property tax incentive-City View Fuel LLC

Incentives for New or Expanding Businesses Guideline Page 4 27.The city or county holds a public hearing on the application and takes testimony both in favor of and in opposition to the granting of the tax incentives. 28. After the public hearing,the governing body determines the best interests of the municipality and approves or denies, in whole or in part,the application for tax incentives. 29. The municipality certifies the tax incentives granted by submitting a copy of the project operator's application with the attachments to the State Tax Commissioner and county director of tax equalization. The county director of tax equalization advises the local assessor when the property is taxable or exempt. 30. Political subdivision grantors shall maintain records of business incentives provided to recipients. They shall prepare an annual political subdivision grantor report to the Department of Commerce before April 1 each year that includes: • The name of the business receiving business incentives during that year; • The number of jobs expected to be created or retained by each business as a result of the business incentives; • The average compensation expected to be provided by the employer for the jobs expected to be created or retained as a result of the business incentives, including identification of the average benefits and average earnings to be provided by the employer for these jobs; and • The total dollar value of all business incentives provided by the political subdivision during that year. * Additional Conditions North Dakota Century Code § 40-57.1-03 provides that the governing body of a municipality, before the beginning of a taxable year for which a property tax exemption or the option to make payments in lieu of taxes has previously been approved by the governing body, may revoke or reduce an exemption, or revoke or increase payments in lieu of taxes for that taxable year for reasons specified in a negotiated agreement or if the governing body finds that: a. Information provided by the project operator has proven to be inaccurate or untrue; b. Use of the property by the project operator does not comply with the reasonable expectations of the governing body at the time the property tax exemption or the option to make payments in lieu of taxes was approved; c. The property has been improved to a substantially greater extent than the governing body reasonably anticipated at the time the property tax exemption or the option to make payments in lieu of taxes was approved; or d. There has been a change of ownership of the property since the property tax exemption or the option to make payments in lieu of taxes was approved. * Indicates significant change since last revised. G-18