TIF Funds definition

TIF Funds means incremental ad valorem taxes which, pursuant to the TIF Act, have been collected and are allocated to pay redevelopment project costs and obligations incurred in the payment thereof.
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TIF Funds. Collectively, the Downtown TIF Fund and the North Lakefront TIF Fund.
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TIF Funds means $4,600,000 of tax increment on hand from the Allocation Area; provided that, if the City fails to allocate the New Market Tax Credits to the Company in accordance with this Agreement, then the amount of the TIF Funds shall be increased to $5,600,000.
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Examples of TIF Funds in a sentence

  • Grants of TIF Funds for reimbursement of the cost of certain Redeveloper Public Improvements pursuant to the Redevelopment Agreement shall be made upon a showing satisfactory to the Urban Development Director of the City that the Redeveloper Public Improvements for which reimbursement is requested is entirely complete and that all persons having performed labor or furnished materials, equipment or supplies for such work have been paid in exchange for payment.

  • Adm Geick explained that this approval is new for this year as required by law and simply lists the amount of TIF Funds that will be expended next year.

  • No Disbursements shall be required to be made until Service Payments have been deposited into the one or more TIF Funds.

  • Sunbury agrees that it shall work cooperatively and in good faith with Developers to identify and implement legally permissible mechanisms for maximizing the amount of time during the term of each Phase 2 TIF district during which Service Payments will be made and deposited into the relevant TIF Fund(s).

  • Disbursements required to be made to Developers (or to Phase 2 Successors, as applicable) or to Sunbury from Service Payments that have been deposited into the TIF Fund(s) (“Disbursements”) shall be made in accordance with this subsection (h).

  • Notwithstanding the foregoing, to the extent necessary, Sunbury agrees to appropriate those amounts to be received into the TIF Fund(s) constituting Service Payments for payments under this Section 7.

  • Tax Incremental Finance (TIF) Funds for the City’s six Tax Incremental Districts.

  • Verification of Applicant’s equity in the Project of not less than 50% of total project costs must be submitted and verified by the Village in advance of the Village’s reimbursement from TIF Funds.

  • Xxxxx, Law Director City of Brecksville THE XXXXXXX-XXXXXXXX COMPANY By: Printed: Title: FISCAL OFFICER’S CERTIFICATE The City has no obligation to make payments pursuant to the foregoing Agreement except from Service Payments to be collected for deposit into the TIF Funds, and no expenditures are required in 2020 from the TIF Funds.

  • The City agrees that it shall establish each of the TIF Funds as a depository fund to be held in the custody of the City for the sole purpose of receiving the Service Payments made from the Owners to the County Fiscal Officer and payable to the City.


More Definitions of TIF Funds

TIF Funds means the funds paid by the City pursuant to the Agreement, which shall not exceed a total amount of One Million, Two Hundred, Ten Thousand, Five Hundred and Thirty-Six Dollars ($1,210,536.00).
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Related to TIF Funds

  • Fund of Funds means a registered investment company or series of a Fund which is managed and administered by Service Company and which invests substantially all of its assets in shares of two or more Funds (or series thereof).

  • Fresh Funds means funds that:

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.

  • Funds means financial assets and benefits of every kind, including, but not limited to:

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Public funds means money belonging to the government.

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • freezing of funds means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

  • State funds means any funds appropriated by the North Carolina General Assembly or collected by the State of North Carolina. State funds include federal financial assistance received by the State and transferred or disbursed to non-State entities. Both Federal and State funds maintain their identity as they are disbursed as financial assistance to other organizations.

  • own funds means the sum of Tier 1 capital and Tier 2 capital;

  • Principal Funds With respect to the Mortgage Loans and any Distribution Date, the sum, without duplication, of (1) the scheduled principal due during the related Due Period and received before the related Servicer Remittance Date or advanced on or before the related Servicer Remittance Date, (2) prepayments in full collected in the related Prepayment Period, (3) the Stated Principal Balance of each Mortgage Loan that was purchased by the Depositor during the related Prepayment Period or, in the case of a purchase pursuant to Section 9.01, on the Business Day prior to such Distribution Date, (4) the amount, if any, by which the aggregate unpaid principal balance of any Replacement Mortgage Loan is less than the aggregate unpaid principal of the related Deleted Mortgage Loans delivered by the Sponsor in connection with a substitution of a Mortgage Loan pursuant to Section 2.03(c), (5) all Liquidation Proceeds collected during the related Prepayment Period (to the extent such Liquidation Proceeds relate to principal and represent payment in full), (6) all Subsequent Recoveries received during the related Due Period and (7) all other collections and recoveries in respect of principal during the related Due Period, less (A) all Non-Recoverable Advances relating to principal with respect to the Mortgage Loans and (B) other amounts reimbursable (including without limitation indemnity payments) to the Servicer and the Trustee pursuant to this Agreement allocable to principal.

  • Loan Fund means the special fund created by the RECIPIENT for the repayment of the principal of and interest on the loan. “Loan Security” means the mechanism by which the RECIPIENT pledges to repay the loan.

  • Fundserv means the facility maintained and operated by Fundserv Inc. for electronic communication with participating companies, including the receiving of orders, order match, contracting, registrations, settlement of orders, transmission of confirmation of purchases, and the redemption of investments or instruments.

  • Special Funds means, collectively, the Bond Fund, the Project Fund and the Collateral Fund, and any accounts therein, all as created in this Indenture.

  • Good Funds means immediately available funds delivered by confirmed wire transfer to an account designated by the Closing Agent.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.

  • Cost of Funds means, with respect to a Loan in an Alternative Currency, the actual cost to a Lender of funding or maintaining such Loan in the applicable currency from whatever source it may reasonably select for the relevant Interest Period.

  • Program fund means the program fund established under section 12D.4.

  • Infrastructure fund means the renewable fuel infrastructure fund created in section 159A.16.

  • BlackRock Funds and “Trustees of BlackRock Funds” refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under a Declaration of Trust dated December 22, 1988, as amended, which is hereby referred to and a copy of which is on file at the office of the State Secretary of the Commonwealth of Massachusetts and at the principal office of the Fund. The obligations of “BlackRock Funds” entered into in the name or on behalf thereof by any of the Trustees, officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders, officers, representatives or agents of the Fund personally, but bind only the Trust Property (as defined in the Declaration of Trust), and all persons dealing with any class of shares of the Fund must look solely to the Trust Property belonging to such class for the enforcement of any claims against the Fund.

  • Guaranty fund means the fund established by a local entity under Section 11-42-701.

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

  • Third Party Funds means any segregated accounts or funds, or any portion thereof, received by Borrower or any of its Subsidiaries as agent on behalf of third parties in accordance with a written agreement that imposes a duty upon Borrower or one or more of its Subsidiaries to collect and remit those funds to such third parties.

  • transfer of funds means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

  • Client Funds means money deposited by the Client in his/her Trading Account, plus or minus any unrealized or realized profit or loss, plus or minus any amount that is due by the Client to the Company and vice versa.

  • Endowment fund means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.