Economic Development Incentive. Subject to Section 3.02 (Payments Subject to Future Appropriations), during the Term of this Agreement, provided the Company has demonstrated compliance with its obligations under this Agreement, City shall pay to the Company annual Chapter 380 payments as prescribed in this section 2.
Economic Development Incentive. As consideration for the Company’s performance of its obligations under this Agreement, for a period of ten years beginning on the Effective Date, the City shall pay to the Company an annual Chapter 380 Payment (“Chapter 380 Payments”) in an amount equivalent to:
Economic Development Incentive. (a) Employer will receive a 5-year rebate of City of Xxxx Property Taxes that will extinguish proportionally, subject to compliance with the terms and conditions of this Agreement, including but not limited Article IV. Incentive Payments will begin the year following the year in which the Employer completes and receives a Certificate of Occupancy for the Project. The annual City of Xxxx Incentive Payment shall be calculated as follows: Year 1: 75% of Property Taxes Year 2: 65% of Property Taxes Year 3: 55% of Property Taxes Year 4: 45% of Property Taxes Year 5: 35% of Property Taxes
Economic Development Incentive. Subject to Section 3.02 (Payments Subject to Future Appropriations), during the Term of this Agreement, provided the Company has demonstrated compliance with its obligations under this Agreement, City shall pay to the Company annual Chapter 380 payments as prescribed in this section 2. For the purposes of this agreement “Eligible City Property Taxes” is defined as the portion of the ad valorem rate dedicated to Maintenance and Operation, after deducting the portion of the ad valorem rate dedicated for the transfer to the Austin Transit Partnership. The ad valorem tax rate used to determine the Eligible City Property Taxes shall be adjusted annually.
Economic Development Incentive. As consideration for the Company’s performance of its obligations under this Agreement, during the Term of the Agreement City shall pay to the Company annual Chapter 380 payments calculated according to the following formula:
Economic Development Incentive. As consideration for APPLE’S performance of its obligations under this Agreement, for a period of ten (10) years beginning the year following Employment Year One, the City agrees to pay the following amounts (“Chapter 380 Payments”) to APPLE pursuant to the payment schedule below:
Economic Development Incentive. A. Subject to the Property Owner’s continued compliance with and satisfaction of the terms and conditions of this Agreement as set forth in Article IV, as well as the Property Owner’s obligation to repay the Incentive pursuant to Section V.B., the City agrees to pay the Incentive to the Property Owner on or before April 1st of the second full calendar year following the Completion Date.
Economic Development Incentive. AGREEMENT HEDC AND EFJ LLC, dba PETE’S CAFE 4887-2726-4690, v. 1 them:
Economic Development Incentive
