Section 2.09 - Compliance with Local Tax Incentives(1)Notice of Completion. When TIF project or STA project is complete, the property owner shall submit to the host municipality and to the EACC as-built drawings and such other information as is necessary to determine that the project has been completed in a manner consistent with the information provided to the EACC in the petition for approval of the TIF agreement or STA agreement, as applicable.(2)Monitoring. Compliance with a TIF agreement or STA agreement shall be monitored by the host municipality. In the case of a certified project that has received EDIP tax credits, the EACC may assist the host municipality with its monitoring obligations by providing to the municipality the job creation data reported to MOBD by the Controlling Business.(3)Revocation of EACC Approval. If the municipality shall recommend and the EACC shall find that a party to a TIF agreement or STA agreement has breached the agreement or otherwise through its action or failure to act has jeopardized the realization of significant economic benefits that provided part of the basis for the EACC's original approval of the TIF agreement or STA agreement, then the EACC may revoke its approval of the TIF agreement or STA agreement. The effect of such revocation shall be the termination of the tax increment exemption for the TIF parcel or parcels designated in the revocation, or the termination of the special tax assessment set forth in the STA agreement, as the case may be. To initiate the revocation process, the municipality must formally adopt its recommendation of revocation in the same manner as that in which the TIF agreement or STA agreement was authorized prior to approval by the EACC. Prior to revoking the approval of a TIF agreement or STA agreement, the EACC shall provide the owner with reasonable notice and an opportunity to be heard on the matter. Any hearing provided pursuant to 402 CMR 2.16(5) shall be conducted in a manner directed by the EACC.Amended by Mass Register Issue 1372, eff. 8/24/2018.