Business Subsidy Act Sample Clauses

Business Subsidy Act. The subsidy granted to the Developer pursuant to this Agreement is assistance for housing and therefore the provisions of Minnesota Statutes, Section 116J.993 to 116J.995 do not apply. No portion of the tax increment assistance shall be used to construct any commercial space.
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Business Subsidy Act. The TIF assistance provided for herein is not a “business subsidy” as defined by Minn. Stat. § 116J.993, subd. 3, because the City is making TIF assistance available to all businesses to be located in the Xxxxxx Xxxx Metro Business Park. The Project meets the criteria set forth in Minnesota Statute §116J.993, Subd. 3(2), and the City therefore finds that the financial assistance provided for herein is not a Business Subsidy under the Business Subsidy Act.
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Business Subsidy Act. The County assessor has estimated the current year’s market value of the Development Property to be [$450,000]. The Developer represents that the Developer’s investment (net of amounts paid pursuant to this Agreement) in acquisition and site preparation of the Development Property will be not less than $ (i.e. $ - $250,000). The Developer represents that because this is a redevelopment of a blighted property and the Developer’s investment in the purchase price and cost of site preparation for the Development Property will equal 70% or more of the assessor’s current year’s estimated market value of the Development Property (i.e. [$315,000]) the assistance for the Project does not constitute a “business subsidy” and therefore the provisions of the Business Subsidy Law do not apply.
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Business Subsidy Act. The assistance provided to the Developer under this Agreement is subject to Minnesota Statutes, Sections 116J.993 to 116J.995 (the “Business Subsidy Act”) and the City’s Business Subsidy Criteria, Resolution 03-138. The provisions of this Section constitute the “business subsidy agreement” for the purposes of the Business Subsidy Act.
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Business Subsidy Act. The assistance provided to the Grantee under the Development Agreement is subject to Minnesota Statutes, Sections 116J.993 to 116J.995 (the “Business Subsidy Act”) and the EDA’s Business Subsidy Policy.
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Business Subsidy Act. (1) The subsidy granted to the Developer pursuant to this Agreement is assistance for housing and therefore the provisions of Minnesota Statutes, Sections 116J.993 through 116J.995, as amended (the “Business Subsidy Act”) do not apply. No portion of the tax increment assistance shall be used to construct the Commercial Facility or any commercial space. However, pursuant to the Purchase Agreement, the EDA has agreed to reduce the purchase price of the Parcel to $1, which is approximately $370,000 below its current estimated market value, a portion of which constitutes a business subsidy with respect to the Commercial Facility (the “Business Subsidy”) within the meaning of the Business Subsidy Act, and this Agreement constitutes a “business subsidy agreement” as required under the Business Subsidy Act. The Developer acknowledges and agrees that the amount of the “Business Subsidy” granted to the Developer under this Agreement with respect to the Commercial Facility is the amount of the write-down of the Purchase Price of the proportion of the land allocable to the Commercial Facility, which is approximately $27,918, and that the Business Subsidy is needed because the construction of the Commercial Facility is not sufficiently feasible for the Developer to undertake without the Business Subsidy. The public purpose of the Business Subsidy is to remove blight in the area in and around the Development Property (the “Village Creek neighborhood”), to put underutilized property to productive use, increase the tax base, provide neighborhood level business and amenities consistent with the Village Creek Master Redevelopment Plan and provide affordable housing and a commercial kitchen to the Village Creek neighborhood and surrounding areas. After holding a public hearing on March 21, 2022, the EDA has determined that creation and retention of jobs is not a goal of the Commercial Facility and consequently set the wage and job goals (the “Goals”) hereunder at zero.
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Business Subsidy Act 
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Related to Business Subsidy Act

  • National Environmental Policy Act All subrecipients must comply with the requirements of the National Environmental Policy Act (NEPA) 42 U.S.C. 4321 et seq., and the Council on Environmental Quality (CEQ) Regulations (40 C.F.R. Parts 1500-1508) for Implementing the Procedural Provisions of NEPA, which requires Subrecipients to use all practicable means within their authority, and consistent with other essential considerations of national policy, to create and maintain conditions under which people and nature can exist in productive harmony and fulfill the social, economic, and other needs of present and future generations of Americans.

  • Economy Act In accordance with FAR 17.502-2(b), the Economy Act does not apply to task orders awarded under XXXXX under the authority of 40 U.S.C. 501.

  • Foreign Terrorist Organizations Contractor represents and warrants that it is not engaged in business with Iran, Sudan, or a foreign terrorist organization, as prohibited by Section 2252.152 of the Texas Government Code.

  • Iran, Sudan and Foreign Terrorist Organizations The Dissemination Agent and the Administrator represent that neither the Dissemination Agent, the Administrator nor any parent company, wholly- or majority-owned subsidiaries, and other affiliates of the Dissemination Agent or the Administrator is a company identified on a list prepared and maintained by the Texas Comptroller of Public Accounts under Section 2252.153 or Section 2270.0201, Texas Government Code, and posted on any of the following pages of such officer’s internet website: xxxxx://xxxxxxxxxxx.xxxxx.xxx/purchasing/docs/sudan-list.pdf, xxxxx://xxxxxxxxxxx.xxxxx.xxx/purchasing/docs/iran-list.pdf, or xxxxx://xxxxxxxxxxx.xxxxx.xxx/purchasing/docs/fto-list.pdf. The foregoing representation is made solely to enable the Issuer to comply with Section 2252.152, Texas Government Code, and to the extent such Section does not contravene applicable Federal or State law and excludes the Dissemination Agent, the Administrator and each parent company, wholly- or majority-owned subsidiaries, and other affiliates of the Dissemination Agent or the Administrator, if any, that the United States government has affirmatively declared to be excluded from its federal sanctions regime relating to Sudan or Iran or any federal sanctions regime relating to a foreign terrorist organization.

  • Indiana Veteran Owned Small Business Enterprise Compliance Award of this Contract was based, in part, on the Indiana Veteran Owned Small Business Enterprise (“IVOSB”) participation plan, as detailed in the IVOSB Subcontractor Commitment Form, commonly referred to as “Attachment A-1” in the procurement documentation and incorporated by reference herein. Therefore, any changes to this information during the Contract term must be approved by IDOA’s IVOSB Division (“IVOSB Division”) and may require an amendment. It is the State’s expectation that the Contractor will meet the subcontractor commitments during the Contract term. The following certified IVOSB subcontractor(s) will be participating in this Contract: [Add additional IVOSBs using the same format.] IVOSB COMPANY NAME PHONE EMAIL OF CONTACT PERSON PERCENT Briefly describe the IVOSB service(s)/product(s) to be provided under this Contract and include the estimated date(s) for utilization during the Contract term: A copy of each subcontractor agreement must be submitted to the IVOSB Division within thirty (30) days of the effective date of this Contract. The subcontractor agreements may be uploaded into Pay Audit (Indiana’s subcontractor payment auditing system), emailed to XxxxxxxXxxxxxxxXxxxxxxxxx@xxxx.XX.xxx, or mailed to IDOA, 000 X. Xxxxxxxxxx Street, Room W-478, Indianapolis, IN 46204. Failure to provide a copy of any subcontractor agreement may be deemed a violation of the rules governing IVOSB procurement and may result in sanctions allowable under 25 IAC 9-5-2. Requests for changes must be submitted to XxxxxxxXxxxxxxxXxxxxxxxxx@xxxx.XX.xxx for review and approval before changing the participation plan submitted in connection with this Contract. The Contractor shall report payments made to certified IVOSB subcontractors under this Contract on a monthly basis using Pay Audit. The Contractor shall notify subcontractors that they must confirm payments received from the Contractor in Pay Audit. The Pay Audit system can be accessed on the IDOA webpage at: xxx.xx.xxx/xxxx/xxxx/xxxxxxxx.xxx. The Contractor may also be required to report IVOSB certified subcontractor payments directly to the IVOSB Division, as reasonably requested and in the format required by the IVOSB Division. The Contractor’s failure to comply with the provisions in this clause may be considered a material breach of the Contract.

  • Foreign Corrupt Practices Act None of the Company, any of its subsidiaries or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and the Company and, to the knowledge of the Company, its affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.

  • Indiana Veteran’s Business Enterprise Compliance Award of this Contract was based, in part, on the Indiana Veteran’s Business Enterprise (“IVBE”) participation plan. The following IVBE subcontractors will be participating in this Contract: VBE PHONE COMPANY NAME SCOPE OF PRODUCTS and/or SERVICES UTILIZATION DATE PERCENT _____________________________________________________________________________________ _____________________________________________________________________________________ A copy of each subcontractor agreement shall be submitted to IDOA within thirty (30) days of the request. Failure to provide any subcontractor agreement may also be considered a material breach of this Contract. The Contractor must obtain approval from IDOA before changing the IVBE participation plan submitted in connection with this Contract. The Contractor shall report payments made to IVBE subcontractors under this Contract on a monthly basis. Monthly reports shall be made using the online audit tool, commonly referred to as “Pay Audit.” IVBE subcontractor payments shall also be reported to IDOA as reasonably requested and in a format to be determined by IDOA.

  • CORRUPT PRACTICES 3.1 The government requires that the bidders, suppliers, sub contractors and supervisors observe the highest standards of ethics during the execution of such contracts. In this pursuit of this policy, the government; Defines for the purpose of this provision, the terms set forth below as follows:

  • Foreign Corrupt Practices Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of FCPA.

  • Foreign Terrorists Organizations Contractor represents and warrants that it is not engaged in business with Iran, Sudan, or a foreign terrorist organization, as prohibited by Section 2252.152 of the Texas Government Code.

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