Economic Development Incentives Clause Samples

Economic Development Incentives. 1.1. The City agrees to reimburse the Developer for only the material cost difference above and beyond the minimum water and sewer main 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 completing the water and sewer infrastructure improvements within the Property. Upon approval from the City, the Developer’s detailed statement of actual costs for water and sewer infrastructure improvements will be required.

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 Company fulfilling its commitments hereunder and completing the Project, the City shall provide certain incentives as follows:

Economic Development Incentives. In consideration and as a material inducement for Developer and/or its Related Entity fulfilling the Developer 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 ERA and endeavor to complete the required procedural steps to grant the Abatement; and B. Waive all City Fees on the Site incurred from the Effective Date until the Final Date.

Economic Development Incentives. So long as the Company is not in default under this Agreement, the County shall provide the Company with economic development incentives as follows: a. Upon completion of the Project upon the Site, the County shall, for a period of ten years, commencing with the first year in which the Parcel’s tax assessed value reflects the value of the completed Project, rebate the County’s portion of any increase in ad valorem taxes assessed against and collected for the Parcel when compared to a “Baseline Year”. Baseline Year shall be defined as the County’s portion of ad valorem taxes assessed against the Parcel as of July 1, 2016. The County shall rebate or refund to the Company only those sums actually paid by the owners of the Site or any portions of the Site, and this Agreement shall not be construed as abating or exempting the Site or any portion of the Site from ad valorem taxes. The County’s obligation to rebate or refund such amounts shall not run with the land, but rather is a contractual right vested with the Company as long as it is not in breach of this Agreement and all taxes are paid timely or a default is timely cured during the ten year period during which the Company is entitled to the rebate or refund.

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. 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 Genezen fulfilling the Development Commitment and Employment Commitment, the City shall, (A) pursuant to and consistent with Ind. Code § 6-1.1-12.1 et. seq., cause the Site to be designated as an ERA; and (B) take the required procedural steps to authorize a five (5) year personal property tax abatement on eligible personal property located at the Site in the amount of one hundred percent (100%) of taxes assessed on such qualifying personal property (the “Abatement”).

Economic Development Incentives. Sales and Use Tax Exemption 7 4.2. Partial Real Property Tax Abatement 7 4.3. No Abatement on Special Assessments, Personal Property Taxes Licenses or Fees 9