Examples of Tax Increment District in a sentence
City will pay directly to Lender those positive tax increments which are collected by the City and deposited in the Fund described in Section 1.3 of the Original Contract and which are due to Developer pursuant to the Original Contract until Developer’s loan obligation to Lender is paid in full or the Tax Increment District is dissolved, whichever comes first.
The Village and Developer have entered into an Agreement to Undertake Development in Tax Increment District No. 5 dated , 2020 (the “Development Agreement”).
The Tax Increment District includes properties other than the Development Property and Xxxxxx County remits Tax Increment to the City on the basis of the Captured Tax Capacity of the entire Tax Increment District.
The City may choose to decertify the Tax Increment District at an earlier date if the obligations of this Agreement have been met or an Event of Default causes the City to rescind or cancel this Agreement.
This Note shall terminate and be of no further force and effect following the last Payment Date defined above, on any date upon which the EDA shall have terminated the Development Agreement under Section 4.2(2) thereof or the Developer shall have terminated the Development Agreement under Article V thereof, on the date the Tax Increment District is terminated, or on the date that all principal and interest payable hereunder shall have been paid in full, whichever occurs earliest.