Post Development Grant. Following the issuance of an occupancy permit to Developer, Village shall make an annual payment to Developer equal to 30 percent (30%) of all room taxes related to the ▇▇▇▇▇▇ Suites Property that are paid by Developer to the Village, subject to the limitations in ▇▇▇▇▇▇▇ ▇,▇. Village shall pay amounts owed to Developer annually on January 31. Payments shall be calculated based on the amount of room tax collected from Developer in the previous calendar year.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement