Approval of Tax Exemption. The Borough approves a tax exemption for the Land and all the Improvements to be constructed and maintained in accordance with the terms and conditions of this Agreement and the Redevelopment Agreement and the provisions of the Law and all Applicable Law, which Improvements shall be constructed on the Property. The Entity represents and covenants that, effective as of the completion of the Project, is shall use the Project for the purposes set forth in the Exemption Application and the land use applications filed with, and as approved by, the Borough in connection with the Project.
Approval of Tax Exemption. The City has granted and does hereby grant its approval for a tax exemption for the Project in accordance with the provisions of the Long Term Tax Exemption Law on the Property. Pursuant to the Ordinance, the Improvements to be constructed and maintained by the Entity shall be exempt from taxation as provided for herein.
Approval of Tax Exemption. The Township hereby grants its approval for this Financial Agreement and the Long-Term Tax Exemption for the Inclusionary Project to be constructed upon the Residential Property and Land Taxes, in accordance with the terms and conditions of this Financial Agreement and the provisions of the LTTEL.
Approval of Tax Exemption. Pursuant to the Ordinance, the Project to be constructed and/or renovated and maintained by the Entity on the Project Area shall be exempt from taxation (including any Land Taxes) as provided for herein and in the Long Term Tax Exemption Law. In accordance with N.J.S.A. 40A:20-12, the tax exemption shall constitute a single continuing exemption from local property taxation for the duration of the Term of this Financial Agreement.
Approval of Tax Exemption. The Borough hereby grants its approval of a tax exemption for the Improvements, in accordance with the terms and conditions of this Agreement and the provisions of Applicable Law.
Approval of Tax Exemption. Pursuant to the Ordinance (attached hereto as Exhibit C), the Township has approved and does hereby grant a tax exemption from real estate taxes for all the Improvements, constructed or acquired by the Entity pursuant to the Long Term Tax Exemption Law. The Entity represents and covenants that, effective upon completion of the Improvement, the Entity shall make application for a Certificate of Occupancy for the Improvement.
Approval of Tax Exemption. The Township has approved and hereby does grant a Long Term Tax Exemption for the Project, which is to be constructed, developed, renovated and/or acquired and maintained on the Property in accordance with the terms and conditions set forth herein, the provisions of the Exemption Law, and other Applicable Law.
Approval of Tax Exemption. Pursuant to the Ordinance, the Land and the Improvements to be constructed and maintained by the Entity pursuant to this Agreement shall be exempt from taxation as provided for herein and under the Exemption Law. In accordance with the Exemption Law, specifically N.J.S.A. 40A:20-12, such tax exemption shall constitute a single continuing exemption from local property taxation for the duration of this Financial Agreement. It is expressly understood and agreed that the Township has relied upon the facts, data and representations contained in the Application in granting the tax exemption described in this Agreement.
Approval of Tax Exemption. The City has granted and does hereby grant its approval for a tax exemption for the Project in accordance with the Long Term Tax Exemption Law on the Property. Pursuant to the Ordinance, all Project Improvements owned by the Entity shall be exempt from taxation as provided by this Financial Agreement. The Project shall be substantially as described in the Exemption Application and the Redevelopment Agreement. The Entity represents and covenants that, effective as of the completion of the Project, the Project shall be financed, used, managed and operated for the purposes set forth in the Exemption Application, and the land use applications filed with, and as approved by, the City in connection with the Project. It is expressly understood and agreed by the Parties hereto that the City expressly relies upon the facts, data and presentations contained in the Exemption Application in granting this tax exemption.
Approval of Tax Exemption. The Borough approves a tax exemption for the Land and all the Improvements to be constructed and maintained in accordance with the terms and conditions of this Agreement and the Redevelopment Agreement and the provisions of the Law and all Applicable Law, which Improvements shall be constructed on the Property. The tax exemption provided in this Financial Agreement shall be separately granted, administered and enforced for each of the one hundred eleven (111) Housing Units, including the Common Elements. The Entity represents and covenants that, effective as of the completion of the Project, it shall use the Project for the purposes set forth in the Exemption Application and the land use applications filed with, and as approved by, the Borough in connection with the Project.
