Common use of Management Grant Clause in Contracts

Management Grant. City may annually advance “Small Business Enhancement Program” (“SBEP”) funds to Manager, in an amount determined by the City Representative, for general overhead expenses of managing the District (“Management Grant”). The amount of the annual Management Grant to be provided to Manager will be determined through a calculation annually performed by the City Representative, in the City Representative’s sole and absolute discretion, based on the number of businesses in the District registered with the City Treasurer for a City business tax certificate. Management Grant funds are typically disbursed to Manager during the first calendar quarter of the applicable Fiscal Year.