Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of the Project Area and as an inducement for the Redeveloper to construct the Redeveloper Project Improvements, the City agrees, to the extent allowed by law and then only to the extent funds are lawfully available from the issuance of the TIF Bond (defined below) and receipt of proceeds from the sale thereof (“TIF Bond Proceeds”) as shown in Exhibit C, to make a grant or grants to Redeveloper (or make payments directly to Redeveloper’s Contractor) as provided in Section 503 for the Site Acquisition, Site Preparation, and Façade Enhancements, in a maximum amount not to exceed the total amount of TIF Bond Proceeds remaining after first paying the recording fee for the Memorandum of Agreement and Use Restrictions and TIF Administrative Fee. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on TIF eligible Redeveloper Project Costs. Any ineligible use of the grant shall immediately be repaid to the City. Section 502. TIF.
Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Skate Zone Redevelopment Project and as an inducement for Redeveloper to construct the Private Improvements, the City agrees to the extent allowed by law and then only to the extent proceeds are lawfully available from issuance of the TIF Bond (“TIF Bond Proceeds”), to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Priority Expense items set forth on Exhibit “B.” In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Private Improvements has been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the Private Improvements and Public Enhancements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 Redeveloper Priority Expenses.
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of this 23rd and Y Street Redevelopment Project and as an inducement for Redeveloper to construct the Private Improvements and Redeveloper Project Undertakings, the City agrees to the extent allowed by law and then only to the extent proceeds (“TIF Bond Proceeds”) are lawfully available from sale of the TIF Bond, to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Section 503 First through Fifth TIF Priority Expense items. In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to comply with the Cost Certification obligation arising under Section
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of the Project Area and as an inducement for the Redeveloper to construct the Redeveloper Project Improvements, the City agrees, to the extent allowed by law and then only to the extent funds are lawfully available from the issuance of the TIF Bond (defined below) and receipt of proceeds from the sale thereof (“TIF Bond Proceeds”) as shown in Exhibit “C”, to make a grant or grants to Redeveloper to reimburse as provided in Section 403 below for the Site Preparation, Private Streets, and Public Improvements in a maximum amount not to exceed the total amount of TIF Bond Proceeds remaining after (1) reimbursing the City for the City’s cost to issue the TIF Bond; and (2) reimbursing the City for the City’s cost to record the Memorandum of Redevelopment Agreement and Use Restrictions. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on TIF eligible Redeveloper Project Costs. Any ineligible use of the grant shall immediately be repaid to the City. 402. TIF.
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of this Xxxxxx & P Street Project and as an inducement for Redeveloper to construct the Xxxxxx & P Street, the City agrees to the extent allowed by law and then only to the extent proceeds (“TIF Bond Proceeds” or “TIF Proceeds”) are lawfully available from sale of the TIF Bond, to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds (excluding the applicable City First and Second TIF Priority Expense items), to reimburse Redeveloper for the cost of the Section 603 First, Third, Fourth, Fifth, and Sixth TIF Priority Expense items. Grant funds for City Public Improvements, if available, shall be made available to the City immediately upon reimbursement to Redeveloper of its actual costs to design, construct and install Right-of-Way Improvements. In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to comply with the Cost Certification obligation arising under Section 310. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 603 TIF Priority Expenses. The grant described in this Section may be in the form of the TIF Bond issued to the Redeveloper or Redeveloper’s Lender as described in Section 601. ARTICLE VII.
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of the Project Area and as an inducement for the Redeveloper to construct the Redeveloper Project Improvements, the City agrees, to the extent allowed by law and then only to the extent funds are lawfully available from the issuance of the TIF Bond (defined below) and receipt of proceeds from the sale thereof (“TIF Bond Proceeds”) as shown in Exhibit “C”, to make a grant or grants to Redeveloper to reimburse as provided in Section 403 below for ite Acquisition in a maximum amount not to exceed the total amount of TIF Bond Proceeds remaining after (1) reimbursing the City for the City’s cost to issue the TIF Bond; and (2) reimbursing the City for the City’s cost to record the Memorandum of Redevelopment Agreement and Use Restrictions. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on TIF eligible Redeveloper Project Costs. Any ineligible use of the grant shall immediately be repaid to the City. 402. TIF.
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of this Xxxxxxx Housing Redevelopment Project and as an inducement for Redeveloper to construct the Xxxxxxx Housing Redevelopment Project, the City agrees to the extent allowed by law and then only to the extent proceeds (“TIF Bond Proceeds”) are lawfully available from sale of the TIF Bond, to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds to reimburse Redeveloper for the cost of the Section 602 First, Third, Fourth, Fifth, Sixth, Seventh, and Eighth TIF Priority Expense items. Grant funds for City Public Improvements, shall be made available to the City upon issuance of the Notice to Proceed (Exhibit C). In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to comply with the Cost Certification obligation arising under Section 310. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 602 TIF Priority Expenses. The grant described in this Section may be in the form of the TIF Bond issued to the Redeveloper or Redeveloper’s Lender as described in Section 604.A.
Grant of Funds from TIF Bond Proceeds. In order to support redevelopment of the Redevelopment Project Area and as an inducement for the Redeveloper to construct the Redeveloper Project Improvements, the City agrees, to the extent allowed by law and then only to the extent funds are lawfully available from the issuance of the TIF Bond (defined below) and receipt of proceeds from the sale thereof (“TIF Bond Proceeds”) as shown in Exhibit “C”, to make a grant or grants to Redeveloper to reimburse Redeveloper (or make payments directly to Redeveloper’s Contractor) as provided in Section 403 below for Site Acquisition, Site Preparation, and the Redeveloper Public Improvements in a maximum amount not to exceed the total amount of TIF Bond Proceeds remaining after (1) reimbursing the City for the City’s cost to issue the TIF Bond; (2) funding the Redeveloper’s cash penal bond to be held by the City; and
Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Instinct Redevelopment Project and as an inducement for Redeveloper to construct the New Building, the City agrees to the extent allowed by law and then only to the extent proceeds (“TIF Bond Proceeds”) are lawfully available from sale of the TIF Bond, to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Section 503 First through Fifth TIF Priority Expense items. In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to comply with the Cost Certification obligation arising under Section 312. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 TIF Priority Expenses. The grant described in this Section may be in the form of the TIF Bond issued to the Redeveloper or Redeveloper’s Lender as described in Section 502.B.
Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this 9th and O Project and as an inducement for Redeveloper to construct either the Base Building version of the New Building or the Heightened Building version of the New Building, the City agrees to the extent allowed by law and then only to the extent proceeds (“TIF Bond Proceeds”) are lawfully available from sale of the TIF Bond, to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Section 503 First TIF Priority Expense and Second TIF Priority Expense items, and thereafter to reimburse Redeveloper for the cost of the Section 503 Third through Fifth TIF Priority Expense items and thereafter to reimburse Redeveloper for the cost of the Sixth TIF Priority Expense items. In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Project Site has been acquired and the New Building has been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the New Building, Redeveloper Public Improvements, and City Public Improvements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 TIF Priority Expenses. The grant described in this Section may be in the form of a TIF Bond issued to the Redeveloper or Redeveloper’s Lender as described in Section 502.B. ARTICLE VI. Intentionally Omitted.
