Lookbacks Sample Clauses

Lookbacks. (i) Within thirty (30) days after a sale of any Element to a third party, the Developer shall submit a certified cost and revenue analysis for the sale of that Element to the Authority’s financial advisor (Xxxxxx & Associates or a different financial advisor reasonably acceptable to the Authority) in the form of the TIF Pro Forma attached as Exhibit F hereto and prepared in accordance with generally accepted accounting principles. This analysis will include, without limitation, all acquisition costs, Project Redevelopment Costs, and all other improvements allocated to the Element subject to a sale. The Developer agrees to provide to the Authority and the Authority’s consultant any reasonable and relevant background documentation related to the financial data, upon request. The Authority may retain an accountant to audit the submitted TIF Pro Forma, at the Developer’s cost. In addition, within ninety (90) days from the fifteenth (15th) anniversary of the Effective Date the Developer shall submit an updated TIF Pro Forma prepared in accordance with Section 8.3(b)(i) for all the Minimum Improvements, including any Elements previously sold to a third party, as of such date, which will be subject to the calculation of Project TIF Adjustment in Section 8.3(b)(iii). Notwithstanding the foregoing, if all Elements are sold to a third party prior to the fifteenth (15th) anniversary of the Effective Date, then the Developer will submit the updated TIF Pro Forma specified in Section 8.3(b)(iii) within ninety (90) days of the sale of the final Element. If so, the Authority will determine the Project Excess Percentage (if any) following receipt of the updated TIF Pro Forma and forego the review otherwise required following the fifteenth (15th) anniversary of the Effective Date.
Sample 1
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