RAB definition
Examples of RAB in a sentence
Term of PILOT: The lesser of 35 years from execution of the Financial Agreement or 30 Years from Substantial Completion RAB Size: Not to exceed $21 million RAB Term: RABs will be coterminous with the PILOT Security: RABs will be non-recourse to the Township RAB Size: The number of RABs issued in any year will not exceed the number of units related to such RABs, divided by the total number of market units, multiplied by $21 million.
The RAB, if issued, may be issued in multiple series, as further described and limited at Exhibit E hereto, and shall comply with the criteria to be set forth in the Financial Agreements and the resolutions, indentures or other agreements to be negotiated providing for and securing the issuance of the RAB.
Conventional Taxes = $10,000 PILOT = $7,500 Rate = 4.50% Payment = $3,375 Principal = $54,975 Interest Rates: In the event that all or a portion of the RAB Bonds shall be purchased by the Redeveloper, or an Affiliate thereof, the maximum interest rate for the RAB Bonds shall be the greater of 5% or 110 basis points over the ▇▇▇▇▇▇▇ ▇▇▇ Primary Mortgage Market Survey® (PMMS®).
The Redeveloper may utilize the proceeds of the RAB for costs of the Project, including, but not limited to, the Relocation Payment and/or the reimbursement to Redeveloper of all or a portion of the Purchase Price for the Township-Owned Property.
The project team will focus particularly on engagement from LGBTQ+, BIPOC, and Russian-speaking and women-owned business stakeholders and may draw recommendations from the following organizations: Visit West Hollywood; Sunset Strip BID; West Hollywood Design District BID; West Hollywood Chamber of Commerce; the Russian Speaking Advisory Board (RAB); the LGBTQ+ Commission.