City’s Proportionate Share definition

City’s Proportionate Share means the sum obtained by dividing the total number of parking spaces in the Parking Garage by the total number of parking spaces in the Parking Garage that the City has the right to use. The City’s Proportionate Share is estimated to be .50 (24/48) based upon the City using 24 parking spaces of the estimated 48 parking spaces in the Parking Garage. The Additional Fee shall be paid in monthly installments at the same time the Parking Fee is paid and shall be based on one twelfth (1/12) of Owner’s reasonable estimate of the amount of real estate taxes attributable to the Parking Garage for the calendar year in which the Additional Fee is being paid (and Owner agrees that this estimate will be based on the real estate taxes attributable to the Parking Garage in the preceding calendar year if available). Owner shall provide City with such reasonable documentation as the City may require to evidence Owner’s estimated calculation of the Additional Fee and the parties shall make an annual adjustment to the Additional Fee once the Owner receives the actual real state tax bill and can calculate the real estate taxes attributable to the Parking Garage for the calendar year in which the Additional Fee is being paid. Once the year end adjustment of the Additional Fee has been determined, (i) Owner will refund any overpayment of the Additional Fee to City within 30 days thereafter or (ii) the City will make an additional payment associated with the Additional Payment to Owner within 30 days thereafter.
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City’s Proportionate Share which represents that portion of the whole that the Premises Square Footage bears to the Building Square Footage, is percent ( %).
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Examples of City’s Proportionate Share in a sentence

  • The City’s Proportionate Share has been calculated to be 36.4%, and the County’s Proportionate Share has been calculated to be 63.6%.

  • The City shall pay to the Lessor the City’s Proportionate Share of taxes for the Subject Tax Parcel within thirty (30) days following its receipt of the Lessor’s statement therefor, which statement shall include a copy of the tax bill for the Subject Tax Parcel.

  • If any form of grant funding shall be available for the project that the District shall not be required to repay, the Parties agree that the grant funding contribution shall be subtracted from the project cost prior to the calculation of the City’s Proportionate Share of the cost.

  • The Annual Rent is calculated as follows: Building’s Current Replacement Value (“CRV”) x % (City’s Proportionate Share) = City’s Proportionate Replacement Value x 2% (Operations and Maintenance Costs) = Annual Rent The CRV is determined by ODF every five (5) Lease Years, and for the intervening Lease Years is increased two and one half percent (2.5%).

  • The City’s Proportionate Share of Taxes is .15149 or (15.149 percent).