Payments in Lieu of Taxes. (a) In accordance with the provisions of Section 12-44-50 of the Act, during the Term of this Agreement the Company shall make with respect to the Project annual FILOT Payments in the amounts set forth in this Section at the times and places, and in the same manner and subject to the same penalty assessments as prescribed by the County or the Department for ad valorem taxes. Such annual payments shall be made on or before each January 15 of each year during the Term of this Agreement, commencing on the first year after the first Project Increment is placed in service. Subject to the provisions of the Act, each annual payment in lieu of taxes shall be equal to the Project Increment Payment with respect to each Project Increment, including, subject to the provisions of the Act, Replacement Property for the Project originally included in such Project Increment, calculated as set forth in Section 5.02(b) hereof, for each of twenty consecutive years (except to the extent that any portion of such Project Increment ceases to qualify for a negotiated fee in lieu of taxes under the Act) commencing with the year following the year in which the respective Project Increments are placed in service.
Payments in Lieu of Taxes. The parties acknowledge that under Article I, Section 3 of the South Carolina Constitution, the Project is exempt from ad valorem property taxes assuming a Fee Agreement is signed. However, the Company shall be required to make the Payments-in-Lieu-of-Taxes with respect to the Project as provided in this Section 5.1. In accordance with the Act, and unless this Fee Agreement is sooner terminated, the Company shall make annual Payments-in-Lieu-of-Taxes with respect to the Project, said payments being due and payable and subject to penalty assessments in the manner prescribed by the Act. Such amounts shall be calculated and payable as follows:
Payments in Lieu of Taxes. Mobile Home Privilege Tax Payments from Local Housing Authority Corporate Personal Property Replacement Taxes13 Other Payments in Lieu of Taxes (Xxxxxxxx & Itemize) Total Payments in Lieu of Taxes TUITION Regular Tuition from Pupils or Parents (In State) Regular Tuition from Other Districts (In State) Regular Tuition from Other Sources (In State) Regular Tuition from Other Sources (Out of State) Summer School Tuition from Pupils or Parents (In State) Summer School Tuition from Other Districts (In State) Summer School Tuition from Other Sources (In State) Summer School Tuition from Other Sources (Out of State) CTE Tuition from Pupils or Parents (In State) CTE Tuition from Other Districts (In State) CTE Tuition from Other Sources (In State) CTE Tuition from Other Sources (Out of State) Special Education Tuition from Pupils or Parents (In State) Special Education Tuition from Other Districts (In State) Special Education Tuition from Other Sources (In State) Special Education Tuition from Other Sources (Out of State) Adult Tuition from Pupils or Parents (In State) Adult Tuition from Other Districts (In State) Adult Tuition from Other Sources (In State) Adult Tuition from Other Sources (Out of State) Total Tuition TRANSPORTATION FEES Regular Transportation Fees from Pupils or Parents (In State) Regular Transportation Fees from Other Districts (In State) Regular Transportation Fees from Other Sources (In State) Regular Transportation Fees from Co-curricular Activities (In State) Regular Transportation Fees from Other Sources (Out of State) Summer School Transportation Fees from Pupils or Parents (In State) Summer School Transportation Fees from Other Districts (In State) Summer School Transportation Fees from Other Sources (In State) Summer School Transportation Fees from Other Sources (Out of State) CTE Transportation Fees from Pupils or Parents (In State) CTE Transportation Fees from Other Districts (In State) CTE Transportation Fees from Other Sources (In State) CTE Transportation Fees from Other Sources (Out of State) Special Education Transportation Fees from Pupils or Parents (In State) Special Education Transportation Fees from Other Districts (In State) Special Education Transportation Fees from Other Sources (In State) Special Education Transportation Fees from Other Sources (Out of State) Adult Transportation Fees from Pupils or Parents (In State) Adult Transportation Fees from Other Districts (In State) Adult Transportation Fees from Other Sources (In...
Payments in Lieu of Taxes. (a) In accordance with the Act, the parties hereby agree that, during the Term of the Agreement, the Company shall pay with respect to the Project annually a fee in lieu of taxes (a “FILOT”) in the amount calculated as set forth in paragraph (b) below, on or before January 15 of the year following the first calendar year after the close of the accounting period regularly employed by the Company for income tax purposes and in which accounting period a portion of the Project was first placed in service, and at the places, in the manner, and subject to the penalty assessments prescribed by the County or the Department of Revenue for ad valorem taxes.
Payments in Lieu of Taxes. Section 4.1 Special Source Revenue Credit. 7
Payments in Lieu of Taxes. Section 4.1 Negotiated Payments 11 Section 4.2 Certain Payment Adjustments 15 Section 4.3 Payments in Lieu of Taxes on Replacement Property 16
Payments in Lieu of Taxes. (a) In accordance with the provisions of Section 12-44-50 of the Act, during the Term of this Agreement the Company shall make with respect to the applicable portions of the Project annual FILOT Payments in the amounts set forth in this Section at the times and places, and in the same manner and subject to the same penalty assessments as prescribed by the County or the Department for ad valorem taxes. Such annual payments shall be made on or before each January 15 of each year during the term of this Agreement, commencing January 15 of the year following the year immediately after the year in which any Project Increment is first placed in service. Subject to the provisions of the Act, each annual FILOT Payment shall be equal to the Project Increment Payment with respect to each Project Increment, including, subject to the provisions of the Act, Replacement Property for the Project originally included in such Project Increment, calculated as set forth in Section 5.02(b) hereof, for each of twenty (20) consecutive years (except to the extent that any portion of such Project Increment ceases to qualify for a negotiated fee in lieu of taxes under the Act) commencing with the year following the year in which the respective Project Increments are placed in service.
Payments in Lieu of Taxes. (a) Pursuant to the provisions of the Plan and the Act, including, but not limited to, Section 99.845 thereof, when tax increment financing is established by Ordinance for a Redevelopment Project Area, the real property located therein is subject to assessment for annual Payments in Lieu of Taxes. Payments in Lieu of Taxes shall be due November 30th of each year in which said amount is required to be paid and will be considered delinquent if not paid by December 31st of each such year. The obligation to make said Payments in Lieu of Taxes shall be a covenant running with the land and shall create a lien in favor of the City on each such tax parcel as constituted from time to time and shall be enforceable against the Developer and its successors and assigns in ownership of property in the Redevelopment Project Area.
Payments in Lieu of Taxes. The Board and the Company acknowledge that, under present law, the Project, as long as at is owned by the Board, is exempt from ad valorem taxation by the State of Alabama or any political or taxing subdivision thereof, including Xxxxxxx County. The Company agrees that it will make payments in lieu of taxes ("PILOT Payments"), consisting of payments in fixed, specified amounts ("Fixed Payments") and payments in amounts determined by formula as set forth below ("Variable Payments"), so long as the Bonds and any Additional Bonds are outstanding and subject to the provisions of the last paragraph of this Section 5.7, in the amounts and at the times and in the manner set forth below. The PILOT Payments shall be payable on July 1 and August 15, 1993 and on August 15 of each subsequent year, commencing August 15, 1994. The Fixed Payments shall be payable to Xxxxxxx County and shall be in the following amounts: $55,000 on July 1, 1993; $145,000 on August 15, 1993; $200,000 on August 15, 1994; $50,000 on each of August 15, 1995, August 15, 1996, August 15, 1997 and August 15, 1998; and $100,000 on August 15 of each subsequent year, commencing August 15, 1999. The aggregate Variable Payments for each year shall be in an amount equal to 60% of the "education taxes" (as defined below) that would be payable with respect to the Project leased under the Lease, calculated as of the December 31 of the second preceding calendar year (each December 31, an "Assessment Date") with respect to those portions of the Project capitalized for financial accounting purposes and leased under this Agreement on such Assessment Date. For purposes of this Section 5.7, "education taxes" means the ad valorem taxes then currently levied on property situated in Xxxxxxx County to support public schools in Xxxxxxx County (i.e., the levy for the Xxxxxxx County Board of Education and the Xxxxxxx County countywide schools levy levied as of the applicable Assessment Date), which taxes would be assessed against the Project if the Project was not exempt from ad valorem taxes. The Variable Payment due on August 15, 1994 (with respect to the December 31, 1992 Assessment Date) and August 15, 1995 shall be distributed as follows: 60% to the Phenix City Board of Education and 40% to the Xxxxxxx County Board of Education. The Variable Payments due on December 15, 1996 and thereafter shall be distributed as follows: 55% to the Phenix City Board of Education, 35% to the Xxxxxxx County Board of Education, 5% ...
Payments in Lieu of Taxes. A. Pursuant to the provisions of the Redevelopment Plan and the Act, including, but not limited to, Section 99.845 thereof, when Tax Increment Financing is established by Ordinance for a Redevelopment Project Area, the real property located therein is subject to assessment for annual Payments in Lieu of Taxes. Payments in Lieu of Taxes shall be due November 30 of each year in which said amount is required to be paid and will be considered delinquent if not paid by December 31 of each such year or as otherwise determined by applicable law. The obligation to make said Payments in Lieu of Taxes shall be a covenant running with the land for the duration of the Redevelopment Plan (and any renewal periods thereof) and shall create a lien in favor of City on each such tax parcel as constituted from time to time and shall be enforceable against Developer and its successors and assigns in ownership of property in the Redevelopment Project Areas.
