Economic Development Incentives Clause Examples

Economic Development Incentives. In consideration and as a material inducement for Company fulfilling its commitments hereunder and completing the Project, the City shall provide certain incentives as follows:

Economic Development Incentives. In consideration for Citimark fulfilling the Citimark Commitment, the City shall perform or cause to be performed the following:

Economic Development Incentives. 1.1. The Developer shall install street pavement with Portland Cement Concrete as provided in Section 166.07(E) of the Code of Ordinances for the City of Dyersville. The City shall reimburse the Developer $25.00 for each square yard of Portland Cement Concrete Pavement street, exclusive of curb and gutter. That reimbursement shall be made when the Developer’s Engineer Certifies the final amount of Portland Cement Concrete Pavement installed that is eligible for reimbursement. 1.2. The City shall reimburse the Developer for only the material cost difference above and beyond a minimum thirty-six (36) inch reinforced concrete storm sewer pipe. That reimbursement shall be made upon the successful completion of the storm sewer infrastructure improvements to the Property and at such time the City approves the Developer’s detailed statement of the actual costs for the infrastructure improvements 1.3. The City shall reimburse the Developer for only the material cost difference above and beyond the minimum Infrastructure Improvement standards as provided under Chapter 166 of the Code of Ordinances for the City of Dyersville. That reimbursement shall be made upon the successful completion of the infrastructure improvements to the Property and at such time the City approves the Developer’s detailed statement of the actual costs for the infrastructure improvements.

Economic Development Incentives. In consideration and as a material inducement for Owner fulfilling the Owner Commitment, the City shall provide certain incentives as follows: A. Pursuant to and consistent with Ind. Code § 6-1.1-12.1 et. seq., the City shall cause the Site to be designated as an economic revitalization area (“ERA”) and endeavor to complete the required procedural steps to grant the Abatement on the any Building; and B. Waive all City Fees on the Site incurred from the Effective Date until the Final Date.

Economic Development Incentives. In consideration for Developer fulfilling the Development Commitment and for RQAW fulfilling the Job Commitment, the City shall provide the following economic development incentives:

Economic Development Incentives. 6.1 Landlord acknowledges that T▇▇▇▇▇▇ is pursuing certain state and local tax and economic development incentives from the State of New York, the County of Nassau and the Nassau County Industrial Development Agency. Those incentives may include, but are not limited to, tax credits, cash grants, exemptions from sales tax and abatements from property taxes through a Payment in Lieu of Tax (“PILOT”). Landlord agrees that the receipt of these benefits was a material factor in Tenant’s decision to enter into this Lease. Landlord acknowledges that these benefits are to accrue to the Tenant alone for its sole benefit and use. Further, Landlord agrees to reasonably cooperate with Tenant in Tenant’s pursuit of such benefits (at no material cost to Landlord).

Economic Development Incentives. Seller expressly acknowledges and agrees that Seller shall cooperate reasonably, at the request of Tenant or the Local Taxing Authorities (as defined in the Tenant Lease), with Tenant and Purchaser in good faith in satisfying Landlord’s PILOT Responsibility (as defined in the Tenant Lease), and all reporting obligations required in connection with the Economic Development Incentives or pursuant to any Economic Development Incentives Agreements (as such terms are defined in the Tenant Lease), including, but not limited to, providing the ▇▇▇▇▇▇▇▇▇▇ County Assessor of Property (the “Assessor”) all information and documents necessary for the Assessor

Economic Development Incentives. 1.1. The Developer shall install street pavement with Portland Cement Concrete as provided in Section 166.07(E) of the Code of Ordinances for the City of Dyersville. The City shall reimburse the Developer $25.00 for each square yard of Portland Cement Concrete Pavement street, exclusive of curb and gutter. Furthermore, the City shall reimburse the Developer for only the material cost difference above and beyond the minimum Infrastructure Improvement standards provided under Chapter 166.07(E) of the Code of Ordinances for the City of Dyersville. That reimbursement shall be made when the Developer’s Engineer Certifies the final amount of Portland Cement Concrete Pavement installed eligible for reimbursement. 1.2. The City shall reimburse the Developer for only the material costs, not exceeding $150,000, for sewer infrastructure improvements outside the Developer’s subdivision. That reimbursement shall be made upon the successful completion of the infrastructure improvements to the Property and when the City approves the Developer’s detailed statement of the actual costs for the infrastructure improvements. 1.3. The City shall reimburse the Developer for only the material cost difference above and beyond the minimum water and sewer infrastructure improvement standards within the Project as provided under Chapter 166 of the Code of Ordinances for the City of Dyersville. That reimbursement shall be made upon the successful completion of the infrastructure improvements to the Property and when the City approves the Developer’s detailed statement of the actual costs for the infrastructure improvements.

Economic Development Incentives. In consideration and as a material inducement for Knowledge Services fulfilling the Development Commitment and Employment Commitment, the City, FRC and Corporation, as applicable, shall provide the following incentives: A. Pursuant to and consistent with Ind. Code § 6-1.1-12.1 et. seq., the City shall cause the Site to be designated as an ERA and shall take the required procedural steps to grant the real and personal property tax abatements described in Article IV(B) and (C) below; B. Authorize a ten (10) year real property tax abatement on new increment resulting from improvements made to the Site in the following amounts: Year 1: 100%; Year 2: 95%; Year 3: 80%; Year 4: 65%; Year 5: 50%; Year 6: 40%; Year 7: 30%; Year 8: 20%; Year 9: 10%; and Year 10: 5%; and C. Authorize a ten (10) year personal property tax abatement on eligible personal property located at the Site in the following amounts: Year 1: 100%; Year 2: 90%; Year 3: 80%; Year 4: 70%; Year 5: 60%; Year 6: 50%; Year 7: 40%; Year 8: 30%; Year 9: 20%; and Year 10: 10% (jointly, Article IV(B) and (C), the “Abatement”).