Forgivable Amounts Sample Clauses

Forgivable Amounts. Beginning the first year after issuance of a Certificate of Occupancy, each year shall have an amount of two hundred and fifty thousand dollars ($250,000) eligible to be forgiven based on the actual percentage of FTE’s reached for that year as compared to the FTE Target in accordance with the following schedule. (Numbers shown as Actual FTE’s are examples only.) A B C D E F G H 3 Year FTE Target Actual FTE's % of Target Reached Yearly Amount Forgivable Amount Forgiven Amount Due That Year 4 Year 1 85 80 94.12% $250,000 $235,294 $14,706 5 Year 2 85 92 108.24% $250,000 $250,000 $0 6 Year 3 85 95 111.76% $250,000 $250,000 $0 7 Year 4 85 98 115.29% $250,000 $250,000 $0 8 Notes: 9 Numbers shown in Red Text (Column D) are for example purposes only.