SEVENTH PRIORITY definition
SEVENTH PRIORITY. Payment of grant or grants to reimburse Redeveloper for all or partial costs for Energy Enhancements up to Fifty Thousand Dollars ($50,000.00). EIGHTH PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs of Landscaping Improvements up to Forty Thousand Dollars ($40,000.00) The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Site Acquisition, Site Preparation, Sidewalk Improvements, Stormwater Improvements, Façade Enhancements, Energy Enhancements, or Landscaping Improvements in excess of the available TIF Bond Proceeds as described above. Redeveloper shall use its own funds to fund any Second, Third, Fourth, Fifth, Sixth Priority, Seventh, and Eighth costs that exceed the TIF Bond Proceeds that are lawfully available and granted to the Redeveloper hereunder. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of the Site Acquisition, Site Preparation, Façade Enhancements, Sidewalk Improvements, Stormwater Improvements, Energy Efficiency Enhancements, and Landscaping. Redeveloper does not have discretionary judgment over the applications of said grant funds.
Examples of SEVENTH PRIORITY in a sentence
SEVENTH PRIORITY EXPENSE: Payment of grants in the amount of approximately Seven Hundred Eight Thousand and No/100 Dollars ($708,000.00) for construction of public parking lots.
SEVENTH PRIORITY: Reimburse the Redeveloper for the costs of installing environmental and water quality features.