Industrial Development Agency. Off-Site Commercial Solar Photovoltaic Policy Adopted: October 12, 2017 Purpose The Xxxxxxxx County Industrial Development Agency (XXX) wishes to adopt an off-site commercial solar photovoltaic policy to encourage solar development for the following purposes:
Industrial Development Agency. The following standard incentives will be offered: Property Tax: Real estate taxes on the increased value resulting from improvements are partially abated over a twenty (20) year period. The annual payment in lieu of taxes (PILOT) will range from $4,200 to $4,800 per megawatt (MW) of the facility’s nameplate capacity, with a 2% increase each year. PILOT payments replace local, county, and school district taxes only; special district taxes are not eligible under the PILOT. The actual amount will depend on projected annual revenue. Sales Tax: Exemption from State and local sales tax on project costs outlined in the XXX Policies and Procedures.
Industrial Development Agency. BY: ------------------------------------- (Vice) Chairman (SEAL) ATTEST: 124 -------------------------------------- (Assistant) Secretary 125
Industrial Development Agency. Purchaser acknowledges that fee title to the Premises is currently held by the Town of Brookhaven Industrial Development Agency (the "Agency") and equitable title to the Premises is held by the Seller pursuant to that certain Lease Agreement, dated as of July 1, 1998, between the Agency and the Seller (the "Lease Agreement"). Purchaser acknowledges receipt of a copy of the Lease Agreement prior to the date of this Contract. In connection with the Lease Agreement, the Agency and the Seller entered into a Payment-in-Lieu-of-Tax Agreement, dated as of July 1, 1998 (the “PILOT Agreement”), and an Environmental Compliance and Indemnification Agreement, dated as of July 1, 1998 (the “Environmental Agreement”). Purchaser acknowledges receipt of the PILOT Agreement and the Environmental Agreement prior to the date of this Contract. At or prior to Closing, Seller shall, at Purchaser's option, cause title to be conveyed from the Agency to the Seller, upon which title shall then be re-conveyed to Purchaser in accordance with this Contract, or Purchaser shall take title to the leasehold subject to the existing Lease Agreement, PILOT Agreement and Environmental Agreement, and Seller shall assign all its right, title and interest thereunder and to the leasehold, and Purchaser shall expressly assume the obligations thereunder accruing from and after such assignment and otherwise comply with all of the requirements of the Agency in connection therewith and pay any fees associated with same to the Agency and its counsel. Seller shall promptly notify the Agency of Purchaser’s election and cooperate with the Agency and Purchaser in effectuating Purchaser’s election. Purchaser shall accept fee simple title or leasehold title, as the case may be, to the Premises, free and clear of all liens, encumbrances, tenancies and occupancies, but subject to the Permitted Exceptions and Section 36 of this Contract. Purchaser acknowledges that the Seller must provide notice to the Agency of the transaction contemplated by this Contract. Seller shall timely provide the Agency with such notice and provide the Agency with any information it requests in connection therewith. If the Agency requests information that the Seller cannot, after diligent effort, provide by the Closing Date, Purchaser shall allow up to ninety (90) days from the Closing Date for the Seller to comply with the Agency’s requests. If, at the expiration of said ninety (90) days, the Seller is still unable to comply with the...
Industrial Development Agency. To Whom It May Concern: Re: New York State Sales and Use Tax Exemption County of Xxxxxxxx Industrial Development Agency Medical, P.C. ("Company") - Project � Pursuant to TSB-M-87(7) issued by the New York artment of Taxation and tfinance on April 1, 1987, you have requested a letter fr the County of Xxxxxxxx Industrial Development Agency ("Agency") containin �nformation required by said policy statement regarding the sales tax exemptio urchases, leases or rentals of building materials, furniture, fixtures, equipment pplies to be used in connection with the reconstruction, renovation, rehabilit mstallation and equipping of the following described project:
Industrial Development Agency. Notwithstanding anything to the contrary contained in this Agreement, Buyer’s obligation to purchase the Property is conditioned upon approval of the assignment of the existing “straight lease” transaction by the controlling industrial development agency during the Due Diligence Period. In the event such approval is not given, this Agreement shall terminate and Seller and Buyer shall thereupon be discharged from any further liability to the other arising from this Agreement (except with respect to provisions of this Agreement which recite that they survive termination) and the Deposit shall be returned to Buyer.
Industrial Development Agency
