Redevelopment Area Clause Samples
The 'Redevelopment Area' clause defines the specific geographic area or property subject to redevelopment under an agreement or plan. It typically outlines the boundaries, location, and sometimes the characteristics of the area, ensuring all parties are clear about which parcels of land are included. By precisely identifying the redevelopment area, this clause prevents disputes over scope and ensures that obligations, rights, and responsibilities are properly allocated to the correct property.
Redevelopment Area. The Redevelopment Area consists of the area legally described on Exhibit A attached hereto.
Redevelopment Area. After all Reimbursable Project Costs have been paid, but not later than twenty-three (23) years from the adoption of an Ordinance approving and designating the Redevelopment Project Area, all property in the Redevelopment Project Area shall be subject to assessments and payment of all ad valorem taxes, including, but not limited to, City, State, and County taxes, based on the full true value of the real property and the standard assessment ratio then in use for similar property by the County Assessor, and the Redevelopment Project Area shall be owned and operated by the Developer free from the conditions, restrictions, and provisions of the Act, of any rules or regulations adopted pursuant thereto, of the Ordinance, of the Plan, and of this Contract.
Redevelopment Area. The Project Area includes the two identified properties that have been declared as an area in need of redevelopment. The Borough desires to create a project, or two projects, by incorporating these public lands and properties that need investment/improvement.
Redevelopment Area. At its meeting of , 202_ the City Planning Commission of the City of Pittsburgh (the “City Planning Commission”), certified a certain area in the ▇▇▇▇ of the City of Pittsburgh, including the Property, as blighted in accordance with the terms of the Redevelopment Law, thereby creating the Redevelopment Area.
Redevelopment Area. The Redevelopment Area will be developed as one Redevelopment Project. Tax increment financing for the Redevelopment Area shall become effective upon the second reading of an Ordinance of the City Council pertaining to the Redevelopment Project. The Developer and the City agree to cooperate in good faith to determine a mutually acceptable time at which the City Council will consider a second reading of an Ordinance to approve tax increment financing within the Redevelopment Area identified by the Developer. The City shall not unilaterally initiate any action for a second reading of an Ordinance affecting the Redevelopment Project. The Redevelopment Area is legally described in Exhibit 1 attached hereto and incorporated herein by reference.
Redevelopment Area. As defined in the Rectials to this Agreement.
Redevelopment Area. The LCRA Plan covers the entire Redevelopment Area, although Developer’s Work that will be undertaken pursuant to this Contract is limited to the Redevelopment Project Area. The Parties agree that the scope of this Contract covers only the Redevelopment Project Area, and if Developer or any other party seek to develop any remaining portion of the Redevelopment Area, and if any incentives are requested for such additional development pursuant to the LCRA Plan, such incentives will be address by a separate contract or by an amendment to this Contract, as appropriate.
Redevelopment Area. The Redevelopment Area consists of the area described in the Redevelopment Plan determined to be a Blighted Area and set forth in Exhibit A, attached hereto.
Redevelopment Area. After all Reimbursable Project Costs have been paid and all outstanding Obligations have been paid in full, but not later than twenty-three (23) years from the adoption of the Project Ordinance, all property in the Redevelopment Area shall be subject to assessments and payment of all ad valorem taxes, including, but not limited to, City, State, and County taxes, based on the full true value of the real property and the standard assessment ratio then in use for similar property by the County Assessor, and the Redevelopment Area shall be free from the conditions, restrictions and provisions of: (1) the TIF Act; (2) any rules or regulations adopted pursuant to the TIF Act; (3) the Redevelopment Plan Ordinance; (4) the Redevelopment Plan; and (5) the portions of this Agreement relating only to the TIF Act, the Redevelopment Plan Ordinance and the Redevelopment Plan.