The Director shall begin the review proceeding by giving notice that the City intends to undertake a periodic review of the development agreement to the property owner. The Director shall give the notice at least thirty (30) days before the date when the matter shall be considered by the Council.

The Council shall receive the Director's report at a regularly scheduled City Council meeting. A public hearing may be held but is not required. At the meeting, the property owner must demonstrate good faith compliance with the terms of the agreement. The burden of proof on this issue is upon the property owner. If a public hearing is held, notice of the hearing shall be given as provided by § 36-23.23.

The Council shall determine whether or not the property owner has, for the period under review, complied in good faith with the terms and conditions of the agreement.

If the Council finds and determines that the property owner has complied in good faith with the terms and conditions of the agreement during the period under review, the review for that period is concluded. If the Council finds and determines that the property owner has not complied in good faith with the terms and conditions of the agreement during the period under review, the Council shall order the property owner to cure the default within sixty (60) days. If the property owner fails to do so, the Council may modify or terminate the agreement.