BENEFITS TO CITY. The direct and indirect benefits CITY (including, without limitation, the existing and future anticipated residents of CITY) expects to receive pursuant to this Development Agreement include, but are not limited to, the following:
BENEFITS TO CITY. In consideration of City providing the benefits to Owner in Section 1, City shall receive the following benefits:
BENEFITS TO CITY. City hereby acknowledges that the Project is located in the Downtown Tax Increment District (the “District”), in an area of the City which has been, in the past, underserved by developments such as the Project, and that the Project will enhance and benefit the downtown core, the District and, in particular, the Xxxxxxxxx area west of Interstate 4. The Project will encourage the revitalization of the Xxxxxxxxx area, and will provide an economic benefit to the City’s downtown core and to the District. Further, the Project is located in a HUD Neighborhood Revitalization Strategy Area, IRS Qualified Census Tract, Orange County Housing Finance Authority Target Area, and in the Xxxxxxxxx Area Enterprise Zone and, further, the City has determined that the Project is consistent with the Downtown Orlando Redevelopment Area Plan Update, the City’s Growth Management Plan and all other applicable planning goals and requirements of the City. Based on the foregoing findings and the specific terms and conditions set forth in this Agreement, City is willing to enter into this Agreement and to allow SED to construct, develop, maintain, and operate the Project in accordance with the terms and conditions of this Agreement and the PD Ordinance.
BENEFITS TO CITY. The direct and indirect benefits CITY (including, without limitation, the existing and future anticipated residents of CITY) expects to receive pursuant to this Development Agreement include, but are not limited to, the following: (a) the participation of OWNER in TIC’s funding, construction/ installation, and dedication to the public of certain of the vitally needed on-site and area-wide public improvements and facilities pursuant to the TIC Development Agreement for the Mountain Park Project and assurances that OWNER’s Project will be developed as set forth in this Development Agreement; and (b) the considerations set forth in Sections 9, 10, and 11 of this Development Agreement.
BENEFITS TO CITY. Owner shall pay to City the Development Impact Fees and the Offsite Park Contribution Fee, in an amount of five million dollars ($5,000,000) prior to the issuance of the first certificate of occupancy for the Project." Prior to issuance of the first certificate of occupancy for the Project. Not yet due.
