Base PILOT definition

Base PILOT means the taxes calculated on the Assessed Value of the existing property before any improvements.
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Base PILOT means an amount equal to the amount assessed on the Existing Real Property, on an annual basis, by the ▇▇▇▇▇ County Assessor’s Office.
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Examples of Base PILOT in a sentence

  • For example: if the first year of the initial CRA Exemption Period is tax year 2023, then the Base PILOT Payment for that year shall be payable to the School District in 2024.

  • Notwithstanding the foregoing, Tenant may delay its giving of the audit notices and examination of the Records with respect to the Base Operating Amount and Base PILOT Amount and, at Tenant’s election, with respect to the first Lease Year, until after Tenant has received the Base Lease Year Statement and the Operating Statement for calendar year 2017.

  • The Base PILOT is included in the Annual Basic Rent for the first Rental Year.

  • For example: if the first year of the initial CRA Exemption Period is tax year 2020, then: (i) the Base PILOT Payment for that year shall be payable to the School District in 2021; and (2) the first Supplemental PILOT Payment would not be owed until 2024 (for tax year 2023).

  • The Annual Base PILOT Amount for any PILOT Year following a PILOT Year during which the Maximum Electrical Output was first increased above 80 megawatts, shall be calculated as if the Maximum Electrical Output was increased on January 1 of the PILOT Year in which the Maximum Electrical Output was increased.

  • Within 30 days of the date of receipt of the Base PILOT and each PILOT Payment, the City or designated billing/collection agent shall distribute the Base PILOT and each PILOT Payment, after reduction for the administrative costs of the City as provided by Section 3.6 below, among the taxing jurisdictions in proportion to the amount of taxes which would have been paid in each year had the Leased Property not been exempt from taxation pursuant to this Agreement.

  • The Base PILOT Payment Date, the Additional PILOT Payment Date, and the New PILOT Payment Date are the “Payment Dates” and each a “Payment Date”.

  • The Company covenants and agrees that, during each year the Leased Property is exempt from ad valorem taxes by reason of the City owning title, the Company will (i) pay the Base PILOT which amount represents the ad valorem real property taxes on the Existing Real Property, and (ii) make annual payments in lieu of taxes to the City (each such payment, a “PILOT Payment”) as described in this Article III relating to the Project.

  • In addition to the remedies specified in Section 6.2, upon the occurrence of an Event of Default, the City or any taxing jurisdictions that would benefit from the Base PILOT and the PILOT Payments provided for in this Agreement may bring an action for specific performance to enforce such payments.

  • The Annual Base PILOT Amount -------------------------------- for the PILOT Year which is the later of (x) the year 2008 or (y) the PILOT Year during which the Company's initial prepaid gas supply from Noranda, Inc.