Annual PILOT Sample Clauses

Annual PILOT. In lieu of the general ad valorem real property taxes and, if applicable, ad valorem personal property taxes (collectively, the "Ad Valorem Taxes") -- which shall be 100% abated by the issuance of the Bonds referenced herein for the Project for the taxable years 2022 through and including 2031 (excepting special assessments levied on account of special benefits and excepting all other amounts referenced in Section 7 below) -- Developer and/or Project Employer shall make the payments set forth in this Article 2. Such payments shall be paid by or through Developer by separate check to the Treasurer of Johnson County, Kansas, or other appropriate officer, an amount which is equal to seventy-five percent (75%) of the Ad Valorem Taxes which would otherwise be due for the then-applicable taxable year for the Project if the Project were not exempt from ad valorem real estate taxation (the "Annual PILOT") as set forth in the Annual PILOT schedule attached hereto as Exhibit B (the “Annual PILOT Schedule”). Notwithstanding anything in this Agreement, the Lease, the Project Employer Office Lease(s), or anything else to the contrary, Developer and/or Project Employer shall be fully liable and responsible for payment of the Annual PILOT and any and all other amounts required to be paid under this Agreement, including any and all payments under Section 7 or Section 9 of this Agreement.

Annual PILOT. During the Term of this Agreement, starting July 1, 2019, and on July 1 of each year thereafter, Taxing Entity shall invoice and Participant shall annually pay to Taxing Entity one hundred ten percent (110%) of the Taxing Entity Payment, or Five Thousand Seven Hundred Fifty Dollars ($5,750) (the “Annual Payment”) for the duration of the Term of this Agreement. Participant shall pay Taxing Entity by certified check made payable to “Pequea Valley School District” and delivered to ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. Taxing Entity may change the method of payment by providing written notice pursuant to Section 10 below. Notwithstanding anything herein to the contrary, as permitted under § 820.310 of the Act, the Annual Payment will increase each year by the percentage determined by starting with the Taxing Entity real estate tax levy ▇▇▇▇▇ for the fiscal year in which the payment is due and dividing by the ▇▇▇▇▇ applicable for the preceding fiscal year. If Taxing Entity does not increase the tax rate for any fiscal year, the Annual Payment due in such year will not increase.

Annual PILOT. In the event that some or all of the Real Estate or personal property is or becomes exempt from general property taxes under Chapter 70, Wis. Stat., as amended or superseded, or by any other statute, provision or reason, then Developer shall make an annual payment to the City in lieu of taxes (“Annual PILOT”) for the services, improvements or facilities furnished to the Real Estate by the City and other taxing jurisdictions. The amount of the Annual PILOT shall be computed and determined by the City Assessor by multiplying the fair market value (using tax assessment definitions, rules and procedures) of the tax exempt portion of such property by the total tax rate of all taxing jurisdictions as shown on tax bills issued to taxpayers in the City. Developer or the then current owner of the tax exempt property, its successors or assigns shall pay the Annual PILOT within sixty (60) days of receipt. Developer shall have the right to appeal the determination of the City Assessor to the City Council. Any appeal shall specifically state the reasons, in writing, why the amount due as provided by the City Assessor is in error. The parties agree that the Annual PILOT shall survive for a period of twenty (20) years after the signature date of this Agreement or the life of the TID #16, whichever is longer. Notwithstanding, the Developer or its successors shall not be responsible for any Annual PILOT resulting from the Real Estate or a portion thereof becoming tax exempt due to the use of eminent domain by the United States or some other governmental entity.