Public Financing. The parties hereby agree and acknowledge that, in order to assist with the financing of construction of Streets A, B, C, D and Grand Crossing Parkway and the storm drain system, sanitary sewer, domestic, fire and reclaimed water systems, and dry utilities located within the public rights of way of Streets A, B, C, D and Grand Crossing Parkway, the parties may initiate proceedings to form one or more community facilities or other assessment or public financing districts which may encompass all or certain portions of the Premises. The parties hereby agree to cooperate in good faith with each other to (i) initiate such formation proceedings, (ii) form one or more community facilities or other assessment or financing districts over all or any portion of the Premises, and (iii) cause such public financing district or districts to issues bonds to assist with the financing of construction of Streets A, B, C, D and Grand Crossing Parkway and the storm drain system, sanitary sewer, domestic, fire and reclaimed water systems, and dry utilities located within the public rights of way of Streets A, B, C, D and Grand Crossing Parkway. Company and Lessor hereby agree that the Premises or any portion thereof, as determined by the parties, shall be included within the boundaries of said public financing district or districts. In addition, the parties hereto hereby agree to cooperate with each other and, if necessary, the City of Industry to promptly execute all other documents and take all other actions reasonably requested by Lessor and/or Company in connection with any and all actions and approvals required to be taken in the ordinary course of formation of such community facilities or other assessment or public financing district over all or any portion of the Premises or any actions related thereto in accordance with the terms of the Xxxxx-Xxxx Community Facilities Act of 1982, as amended, Rule 15c2-12 promulgated by the Securities and Exchange Commission, or any other California law governing formation of such public financing districts. The parties hereby agree and acknowledge that, in order to assist with the annual maintenance of the landscaping and irrigation systems installed upon the slopes manufactured during the grading of the Project, the parties may initiate proceedings to form one or more maintenance districts which may encompass all or certain portions of the Premises. The parties hereby agree to cooperate in good faith with each other to (i) initiate suc...
Public Financing. County agrees to cooperate with Developer in the formation and implementation of public financing districts or areas of benefit, such as, a Community Facilities District or Statewide Community Infrastructure Program districts, as provided in the CEDHSP Financing Plan, as may be amended. County and Developer acknowledge and agree that facilities eligible to be financed through the CFD shall include, without limitation, portions of Country Club Drive, portions of the Community Park, portions of the trails, wetlands and open space amenities, a recycled water line for EID, if necessary, a sewer line upgrade and, potentially, a portion of the pedestrian overcrossing environmental review and permitting costs, EID fees and any and all development impact fees applicable to the Project. County and Developer shall use their best efforts to cause to be formed any such financing district(s) provided that such formation is consistent with the criteria set forth in the CEDHSP Financing Plan and applicable County ordinances or adopted policies regulating such matters. County agrees that any credits or reimbursements owed to Developer shall not be affected or reduced because improvements for which credits or reimbursements are due were financed with any special taxes or bond proceeds.
Public Financing. The Sublease and Subtenant satisfy the requirements for a permitted Sublease and permitted Subtenant under the Convention Center Subleases attached hereto as Exhibit “I” and the requirements under any other documents effectuating the public financing by the Landlord, City or the JEPA for or related to the Premises, the Tenant’s Phase 1A Improvements or the Convention Center for so long as such financing remains outstanding; provided that such requirements must not be materially more stringent than the requirements that were in effect under the public financing that is outstanding as of the Commencement Date as determined by Tenant in its reasonable discretion; and
Public Financing. The Transfer and Transferee satisfy the requirements for a permitted Transfer and permitted Transferee under the Convention Center Subleases attached hereto as Exhibit “I” and the requirements under any other documents effectuating the public financing by the Landlord, City or JEPA for or related to the Premises, the Tenant’s Phase 1A Improvements or the Convention Center for so long as such financing remains outstanding; provided that such requirements must not be materially more stringent than the requirements that were in effect under the public financing that is outstanding as of the Commencement Date as determined by Tenant in its reasonable discretion;
Public Financing. West Coast shall have issued its equity securities (“Equity Securities”) in a transaction or series of related transactions on terms satisfactory to Purchaser in Purchaser’s sole and subjective discretion, resulting in aggregate gross proceeds to West Coast of at least $15,000,000.00 US (a “Qualified Financing”).
Public Financing. The BRA agrees to work with the Owner Parties to enforce Central Artery/Tunnel Project mitigation commitments which include any portions of the First Phase Public Realm Enhancements. The BRA further agrees to work with the Owner Parties and appropriate City of Boston officials to determine the feasibility of using District Improvement Financing or other comparable public funding for the construction of the Public Realm Enhancements (“Public Financing”). Such Public Financing may require Owner Party participation in the debt service for such bond financing, but in the absence of new development on the Site, the Owner Parties shall not be required to participate in debt service in a cumulative amount greater than $3,750,000 less any portion of such amount applied to the construction of First Phase Public Realm Improvements. If Public Financing shall become available, the Owner Parties and the BRA shall agree upon such amendments to this Agreement as may be appropriate to reflect potential accelerated construction of certain Public Realm Enhancements and the participation by Beacon in such Public Financing for the construction of improvements required by PDA Development Plan No. 53 and the contract documents relating thereto. The BRA shall not be obligated to prioritize Public Financing for Public Realm Enhancements in the 100 Acres.
Public Financing. The District Government shall issue and sell taxable and tax-exempt Bonds in an aggregate amount sufficient (taking into account financing costs, interest costs and earnings during construction, and available cash on hand) to generate net proceeds that will fully fund the Baseball Stadium Budget. The net proceeds of the Bonds will be deposited prior to the deadline date specified in Section 7.06 into a fund held by a Qualified Trustee. The Construction Administration Agreement and Bond documents for the Bonds shall provide the procedure for disbursements from the fund to pay the costs of the Baseball Stadium and the Infrastructure.
Public Financing. REIMBURSEMENTS
Public Financing. Respondents are encouraged to describe alternative financing methods and to describe their desired approach to financing the Project. The Borough may consider a public participation/partnership with a developer in connection with the costs, ownership, management and operation of infrastructure improvements. The Borough requires the specific disclosure as to how much the Respondent is proposing to pay for any public property in the area. Sale-leasebacks and PILOTs will be considered but shall be proposed in sufficient detail to provide adequate evaluation.
Public Financing. The MOU provides that the City and County would provide Public Financing towards ArenaCo’s cost of developing a new multi-purpose sports arena. Public Financing is contingent upon ArenaCo securing either an NBA basketball team or both an NBA basketball team and an NHL hockey team (and other conditions). For each scenario, the maximum amount of Public Financing is as described below and as depicted in the attachments to the 2012 Central Staff Memo (Additional Funding and Public Financing). • NBA basketball team only: o Up to $145 million to be split between up to $40 million for a SODO Transportation Infrastructure Fund (“SODO Fund” described below) and up to $120 million for ArenaCo’s SODO arena. o The distribution to ArenaCo would be lower than $120 million if the required SODO Fund contribution exceeds $25 million. • NBA basketball team and an NHL hockey team: o $200M to be split between up to $40 million for the SODO Fund and up to $200 million for ArenaCo’s SODO arena. o ArenaCo would only receive $200 million if there is no required SODO Fund contribution; the SODO Fund distribution reduces the ArenaCo distribution below $200 million on a dollar for dollar basis. The debt service for the Public Financing amount would be capitalized for up to four years. Capitalizing debt service payments effectively increases the amount of debt service owed in later years. Installments Assuming ArenaCo secures one or two professional sports teams as described above, Public Financing payments would be made in two installments: • Installment 1: o Prior to starting construction, the City would make the first installment to purchase the land at the future SODO arena at fair market value up to $100 million. o At this point, ArenaCo would begin making rent payments. • Installment 2: o After construction is completed, the City and County would collectively make a second installment to purchase the completed SODO arena (“Transfer Date”).
