Amount of Payments in Lieu of Taxes. The payments in lieu of taxes to be paid by the Company to the various Receivers of Taxes annually on behalf of each Taxing Entity pursuant to the terms of this Agreement shall be as follows:
(1) For each roll year beginning on and after March 1, 2022, the Company shall make a payment in lieu of taxes (each a “Regular PILOT Payment”) as follows: 1 $67,639.00 2 68,316.00 3 68,999.00 4 69,689.00 5 70,386.00 6 71,090.00 7 71,800.00 8 72,518.00 9 73,244.00 10 73,976.00 11 74,716.00 12 75,463.00 13 76,218.00 14 76,980.00 15 77,750.00 16 78,527.00 17 79,312.00 18 80,105.00 19 80,907.00 20 81,716.00 21 82,533.00 22 83,358.00 23 84,192.00 24 85,034.00 25 85,884.00 26 86,743.00 27 87,610.43 28 88,486.53 29 89,371.40 30 90,265.11 31 91,167.76 32 92,079.44 33 93,000.24 34 93,930.24 35 94,869.54 All Regular PILOT Payments and any additional payment required to be made by the Company pursuant to subsection (D) of Section 5.01 hereof shall be allocated among the “affected tax jurisdictions” pro-rata in accordance with the applicable tax rates.
Amount of Payments in Lieu of Taxes. (1) Town and County Taxes: (a) Commencing on January 31, 2018 (for the 2018 town/county tax year) and continuing on January 31 of each year thereafter up to and including January 31, 2022, payments in lieu of real estate taxes shall be due, owing and payable by the Company to the Agency on account of town and county taxes with respect to each appropriate Taxing Entity equal to the product of (i) the Assessed Value (as hereinafter defined) of the Land without regard to the Facility and (ii) the tax rate or rates of each such Taxing Entity applicable to the Project Facility for the current tax year of such Taxing Entity.
Amount of Payments in Lieu of Taxes. The payments in lieu of taxes to be paid by the Company to the Agency annually on behalf of each Taxing Entity pursuant to the terms of this Payment in Lieu of Tax Agreement shall be computed as follows, without regard to the Assessed Value:
(1) Except as provided in paragraph (2) below, in each tax year during the term of this Payment in Lieu of Tax Agreement, commencing on the first tax year following the date on which the Facility shall be assessed as exempt on the assessment roll of any Taxing Entity, the amount payable by the Company to the Agency on behalf of each Taxing Entity as a payment in lieu of property tax pursuant to this Payment in Lieu of Tax Agreement shall be the applicable amount as shown in the following table: Tax Year Commencing After the Tax Status Date Following the Agency’s Acquisition of its Leasehold Interest Payment In Lieu Of Tax Based upon the data provided by the Company to the Agency, payments to the Tax Entities (to wit: Xxxxxxxx, Central Valley and Herkimer) shall be allocated in a ration of [TBD] (Xxxxxxxx/Central Valley/Herkimer).
(2) The parties recognize that the purpose of the Project is to encourage the use of renewable energy, reduce the cost of local energy and create or retain permanent private sector jobs in Cortland County. The parties acknowledge that the Payment in Lieu of Tax set forth herein was calculated based on the Project consisting of a solar photovoltaic facility with an approximate 20 megawatt capacity (20 MWac) at a rate of $5,000.00 per megawatt. Accordingly, the parties have agreed that the amount of payments in lieu of taxes payable with respect to the Project Facility shall bear a direct relationship to the success or lack of success of the Project in achieving this goal. Therefore, on or before November 1 of each calendar year during the term of this Payment in Lieu of Tax Agreement, the Company shall file with the Agency an affidavit indicating the total AG megawatt capacity of the Project Facility. In the event the total AC megawatt capacity of the Project Facility exceeds 7.5, then the Payment in Lieu of Tax required hereunder shall increase proportionally based on $5,000.00 per megawatt or fraction thereof. In the event the total AC megawatt capacity of the Project Facility is less than 7.5, then the Payment in Lieu of Tax required hereunder shall not be reduced and shall remain $100,000.00 plus the then applicable annual 2% increase. If the Company fails to file such an affidavit with the...
Amount of Payments in Lieu of Taxes. The payments in lieu of taxes to be paid by the Company to the Receivers of Taxes annually on behalf of each Taxing Entity pursuant to the terms of this Lease Agreement shall be computed separately for each Taxing Entity as follows:
Amount of Payments in Lieu of Taxes
