Redevelopment Costs definition
Examples of Redevelopment Costs in a sentence
The Redevelopment Plan provides that, (a) each private enterprise project will be financed by private investment (debt and equity), except to the extent, if any, that it is a Redevelopment Project and its Redevelopment Costs are paid by TAD Funds, and (b) a Community Benefit Agreement will be required for any private enterprise Redevelopment Costs to be paid by TAD Funds.
If not previously submitted, each such Requisition shall be accompanied by such documentation or by the statement or report of an Independent accountant which shows and verifies that any such Eligible Project Redevelopment Costs have been paid and incurred by the Developer.
All such costs will be Qualified Redevelopment Costs pursuant to the TIF Pro Forma.
Any Tax Increments in excess of the annual reimbursement of the City Redevelopment Costs shall be paid by the City to the Developer as reimbursement of the Property Assessments and Soils Corrections pursuant to the provisions of Section 3.5 hereof and the Note.
Notwithstanding the foregoing, in the event that in any year the annual Tax Increments are less than what is necessary to reimburse the Redevelopment Costs, but in subsequent years are greater than the estimated payment on the Redevelopment Costs, the annual Tax Increments shall first be used to reimburse the City for the amount that the annual Tax Increments were less than the payment on the Redevelopment Costs and second paid to the Developer.