TAD definition
Examples of TAD in a sentence
Owner acknowledges and agrees that approval by ACC of PD Zoning, should such approval be granted in accordance with ACC’s zoning ordinances, does not represent any commitment or obligation on the part of ACC to fund any portion of the costs associated with PD Zoning using TAD Increment.
The TAD Resolution expressed the intent of ACC, as set forth in the Redevelopment Plan, to provide funds to induce and stimulate redevelopment in the TAD.
For the avoidance of doubt, all TAD Increments, other than the portion thereof which is Site TAD Increments (and then, subject to ACC’s Withdrawal rights) are free and clear of this Agreement.
The parties hereby acknowledge and agree that ACC’s obligation to make, subject to the terms and conditions hereof, the Disbursements contemplated hereunder is a special and limited obligation, payable solely from the Site TAD Account, and not a general obligation of ACC.
For purposes of clarification, so long as the Site TAD Increments are paid into the Site TAD Account, without consideration of incremental tax allocation increment generated in the remainder of the TAD, Disbursements (defined below) will be funded, but, only to the extent payment of a Disbursement is required by this Agreement, and solely from the Site TAD Increments actually on deposit in the Site TAD Account.