Benefit District Clause Samples
The 'Benefit District' clause defines a specific geographic area or group of properties that will receive and potentially fund certain improvements or services. In practice, this clause identifies which properties are included in the district and outlines the types of benefits or enhancements—such as infrastructure upgrades, maintenance, or security—that will be provided to them. Its core function is to ensure that the costs and responsibilities for these improvements are fairly allocated among those who directly benefit, thereby promoting equity and clarity in funding and service provision.
Benefit District. The Developer will submit a petition (the “Petition”) requesting the creation of an improvement district upon the Property pursuant to the Benefit District Act to impose special assessments upon the Property which will be dedicated to finance the costs of certain public infrastructure improvements. A copy of the Petition is attached as Exhibit B. For planning purposes only and not for financing purposes, the City may require Developer to submit petitions related to improvements that will be financed with Developer TIF Bond Proceeds, including the lift station, sanitary sewer infrastructure, stormwater infrastructure, and water infrastructure for the Developer Project. Costs financed through a benefit district special assessment will not be TIF Eligible Developer Costs.
Benefit District. The Developer may submit one or more petitions requesting the creation of improvements districts upon the Riverfront Development Property pursuant to the Benefit District Act to impose special assessments upon certain real property which will be dedicated to finance the costs of certain public infrastructure improvements. Costs financed through a benefit district special assessment will not be CID Eligible Developer Costs or TIF Eligible Developer Costs.