PROGRAM GRANTS. Faculty who, with the written approval of the appropriate academic administrator and Chancellor, initiate, develop and/or design financial grant requests shall have priority to operate programs funded by such grants.
PROGRAM GRANTS. The LCA will make payment of a Grant directly to the Contractor for completed project costs incurred during completion of the Project on the Property Owner’s behalf. The maximum amount of any Grant that the Committee may award shall not exceed $5,000 (or $10,000 for corner properties). For any approved Project, the Property Owner must remit the Match to the LCA before work on the Project can begin. If the property to be improved under the FIP: (1) is used solely for commercial purposes; (2) is mixed residential/commercial; (3) is rental property; or (4) is owned by a not-for-profit organization, the Property Owner must contribute a 50% cash match of the total project cost. If the property to be improved under the FIP is an entirely residential, single family home, and does not constitute rental property, the Match is determined by the Property Owner’s annual household earnings as evidenced by the Property Owner’s most recent federal income tax return. An eligible and approved Property Owner whose household earnings are below 80% of the median household income for the County of Lancaster must contribute a 10% cash match of the total Project cost. An eligible and approved Property Owner whose household earnings are above 80% of the median household income for the County of Lancaster must contribute a 50% cash match of the total Project cost. The amount of any Grant awarded will equal the difference between the total cost of the proposed Project and the Match up to a maximum Grant amount of $5,000 (or $10,000 for corner properties). Regardless of how the property is characterized, the Property Owner may choose to make improvements that have been approved by the LCA that would exceed the Grant, as well as the Property Owner’s Match. However, in such a case, the Property Owner is responsible for all costs over and above the Grant and the Match. A Grant is payable only upon (i) completion of the Project and (ii) submission of paid receipts and invoices, as further described below.
PROGRAM GRANTS. Notwithstanding anything to the contrary contained in Section 4.I above, the parties (i) acknowledge that Tenant is a party to an Economic Development Program Agreement with the City of Fort Worth, Texas (“City”) dated October 14, 2002 (as amended on April 26, 2005, collectively, the “EDA”), and (ii) agree that the following terms shall govern the benefits received by Tenant thereunder:
PROGRAM GRANTS. 17.1 Pursuant to the Partial Assignment, Tenant assigned to Original Landlord, and Original Landlord assumed, an undivided interest in the obligations of Tenant under the EDA, including the obligations to comply with the commitments set forth in Section 5.2 and 5.3 of the EDA. Original Landlord subsequently transferred and conveyed to Landlord all rights of Original Landlord and all obligations of Original Landlord, if any, under the EDA. Tenant acknowledges that Landlord does not use the Building as a Corporate Office (as such term is defined in the EDA) and that, therefore, grants may be available under the EDA only if Tenant complies with the applicable terms and provisions of the EDA. Notwithstanding anything in the Lease or the Partial Assignment to the contrary, Tenant agrees that (i) Landlord shall not be obligated to comply with any obligations of Tenant under the EDA, including any obligations that would otherwise require Landlord to meet any specific employment or other commitments or to engage Certified M/WBEs (as defined in the EDA) to perform services with respect to the Building; and (ii) in no event shall Landlord be deemed to be in default under the Lease or otherwise liable to Tenant or any Affiliate of Tenant if, for any reason (other than Landlord’s failure to pay to the City the real estate taxes payable by Landlord with respect to the Building), the City fails to remit all or any of the grants provided for in the EDA. The foregoing shall not be deemed to release Landlord from the obligation to comply with the terms and provisions of the Lease, including, without limitation, Landlord’s obligations under Section 4.J. of the Lease.
PROGRAM GRANTS. Subject the terms and conditions of this Agreement, provided that the Level 1 Development occurred by the Xxxxx 0 Xxxxxxxxxx Xxxxxxxx, Developer will be entitled to receive from the City fifteen (15) annual Program Grants, subject to the applicable Program Cap. The amount of each Program Grant shall equal a percentage of the Program Source Funds, which percentage will be based on the extent to which Developer met the various construction and operational expenditures for the Level of Development at the time, less the Affordable Housing Deduction, all as more specifically set forth in this Section 5.3. Notwithstanding anything to the contrary herein, aggregate Program Grants payable under this Agreement shall be subject to and shall not exceed the applicable Program Cap.
PROGRAM GRANTS
