Common use of Grant of Funds Clause in Contracts

Grant of Funds. In order to support redevelopment of the Project Site and as an inducement for the Redeveloper to construct the Redeveloper Improvements and Public 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 (“TIF Proceeds”) as shown in Exhibit “B”, to make a grant or grants to Redeveloper in the total amount of the TIF Proceeds less the City’s cost to issue the TIF Bond, subject to reimbursement as provided in Paragraph 16 below for the Public Improvements. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on eligible Public Improvement Costs. Any ineligible use of the grant shall immediately be repaid to the City.

Grant of Funds. In order to support redevelopment of the Project Site and as an inducement for the Redeveloper and Airspace to construct the Redeveloper Improvements and Public Redevelopment 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 (“TIF Proceeds”) as shown in Exhibit “BC”, to make a grant or grants to Redeveloper in the total amount of the TIF Proceeds less the City’s cost to issue the TIF Bond, subject to reimbursement as provided in Paragraph 16 17 below for the Public Improvements. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on eligible Public Improvement Redevelopment Project Costs. Any ineligible use of the grant shall immediately be repaid to the City.

Grant of Funds. In order to support redevelopment of the Project Site and as an inducement for the Redeveloper to construct the Redeveloper Improvements and Public Redevelopment 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 (“TIF Proceeds”) as shown in Exhibit “BC”, to make a grant or grants to Redeveloper in the total amount of the TIF Proceeds less the City’s cost to issue the TIF Bond, subject to reimbursement as provided in Paragraph 16 20 below for the Public Improvements. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on eligible Public Improvement Redevelopment Project Costs. Any ineligible use of the grant shall immediately be repaid to the City.

Grant of Funds. In order to support redevelopment of the Project Site and as an inducement for the Redeveloper to construct the Redeveloper Improvements and Public 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 (“TIF Proceeds”) as shown in Exhibit “BA”, to make a grant or grants to Redeveloper in the total amount of the TIF Proceeds less the City’s cost to issue the TIF Bond, subject to reimbursement as provided in Paragraph 16 below for the Public Improvements. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on eligible Public Improvement Costs. Any ineligible use of the grant shall immediately be repaid to the City.

Grant of Funds. In order to support redevelopment of the Project Site and as an inducement for the Redeveloper to construct the Redeveloper Improvements and Public Redevelopment 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 (“TIF Proceeds”) as shown in Exhibit “BC”, to make a grant or grants to Redeveloper in the total amount of the TIF Proceeds less the City’s cost to issue the TIF Bond, subject to reimbursement as provided in Paragraph 16 19 below for the Public Improvements. Redeveloper shall submit authentic and satisfactory documentation to the City to verify the grant was expended on eligible Public Improvement Redevelopment Project Costs. Any ineligible use of the grant shall immediately be repaid to the City.