Development Incentive. Subject to CRA Budget Approval by the CRA Board, City Approval and County Approval, on an annual basis in all cases, as an inducement to the development of the Project, the CRA agrees to pay to the Master Developer a percentage of Incremental TIF as follows:
Development Incentive. In consideration for Developer fulfilling the Developer Commitments and the Additional Developer Commitments described in Articles IV and V hereof, respectively, the Commission shall provide the following economic development incentive provided for in this Article III (the “Incentive”).
Development Incentive. “Development Incentive” means the Loan and Assistance in Development Financing required to bridge a gap in financing needed to make the Project possible, which incentive is provided through a tax increment allocation of an amount not- to-exceed $1,375,000 for this Project.
Development Incentive. Pursuant to and consistent with Ind. Code § 36-7-14- 12.2(a)(25), the the Bldg. Corporation shall provide Corporation One Hundred Thousand and no/100 Dollars ($100,000.00) to construct, rehabilitate, or repair the Site. The Development Incentive shall be paid by Bldg. Corporation within thirty
Development Incentive. The CITY shall provide an economic incentive to XXXXXX not to exceed Forty-Seven Thousand One Hundred and Twenty-Seven Dollars ($47,127.00), payable within 90 days of XXXXXX’X payment to obtain and the issuance of a Certificate of Occupancy and documentation satisfying Paragraph 4.
Development Incentive. The proposed development agreement provides a pay-go incentive of 20% of the proposed development guarantee value, you can see this in 5.1 Municipal Revenue Obligation (a) $8,000,000. This incentive will be paid over the life of the TID after the developer makes the site buildable and creates the development as proposed. We have worked with the developer to adjust the initial repayment schedule to be more aggressive in the first five years and then reduced back to normal levels until the incentive levels. The repayment schedule can be found in 5.1 Municipal Revenue Obligation (a)(a) and (b) of the attached development agreement. As written, we will reimburse 95% for years 2027-2031 and 75% each year thereafter until the 20% reimbursement has been reached or until the TID has been closed, whichever comes first. City Responsibilities City Administration and the Department of Public Works/Engineering will work with the developer to reconfigure the parking along South 7th St and Xxxxx Avenue. This work will be minimal and will fit within our existing project on Xxxxx Avenue already planned, and we plan to complete the work on Xxxxx Avenue at the same time with minimal cost impacts. Depending on the final buildout of the site we may have some additional work along Georgia Ave. This can be found in 9.1 City Representations (c) of the development agreement. Next Steps Xxxxx Xxxxxxx City Administrator CITY HALL 000 XXXXXX XXX. SHEBOYGAN, WI 53081 000-000-0000 xxx.xxxxxxxxxxx.xxx The developer and City staff have reviewed this development agreement. The City’s legal counsel drafted the agreement, and made all amendments to the agreement. We have reviewed this project on several occasions with all department heads as well as at our internal development meetings. Specifically, Police, Fire, and Transit have had an opportunity to review and provide input into this project.
Development Incentive. 18.3.1 You will be eligible to participate in our Development Incentive program if (i) you have signed and delivered this Agreement by [●]; (ii) you and your guarantor, as co-maker, have signed and returned to us the Development Incentive Note (the “Note”) that accompanies this Agreement; (iii) you have accepted the PIP; and (iv) you open the Facility in compliance with the PIP and Schedule D. The anticipated amount of the Development Incentive will be $[●], based on a formula of $[●] per guest room multiplied by the number of guest rooms specified on Schedule B. The actual amount of the Development Incentive to be disbursed, if any, will be based on the number of guest rooms at the Facility on the Opening Date. If the number of guest rooms changes with our consent, we will adjust the amount of the Development Incentive accordingly. You authorize us to modify the principal amount of the Note based on this Section and the number of guest rooms at the Facility.
Development Incentive. In the event of any delay by Cerent in the --------------------- general availability of [*] (with the respective functionalities as specified in Section 1.0) as of the dates specified in this Section 4.0 (each, a "Delay"), Cerent shall give Xxxxxxxx an [*] of the purchase price of the Products set forth on Exhibit A for [*] of such Delay on all Products purchased during the --------- period of such Delay. The foregoing discount shall apply only to those Products shipped to Xxxxxxxx during such Delay. In the event of a Delay in excess of [*] months, Xxxxxxxx shall be entitled to reduce its minimum purchase obligations under Section 2.1 by the greater of (i) the aggregate dollar amount of all Purchase Orders canceled during such Delay pursuant to Section 8.4, or (ii) [*]. In the event of any Delay of more than [*] full months, Xxxxxxxx may, at its sole option, terminate this Agreement with no further purchase obligation under Section 2.1. Notwithstanding anything else in this Agreement, the provisions of this Section 4.5 shall constitute Xxxxxxxx' sole remedy, and Cerent's sole obligation, for any breach of Sections 4.1 and/or 4.2.
Development Incentive. Within ten (10) business days after Production, ICS shall pay to INET (i) the applicable aggregate amount payable to the employees set forth on Exhibit 5 and (ii) an amount equal to all Taxes payable by INET and Nasdaq with respect to the payments contemplated by this Section 6, such that INET and Nasdaq are not liable for any Taxes arising out of INET’s fulfillment of the obligations set forth in this Section 6. INET shall distribute such amounts in accordance with Exhibit 5, provided that, if any INET employee set forth on Exhibit 5 is no longer an INET employee at Production, ICS shall have no obligation to pay INET any amount with respect to such employee, and INET shall have no obligation to pay any amount to such employee pursuant to this Section 6.
Development Incentive
