Cid Financing Sample Clauses

Cid Financing. Developer owns all of the property that comprises the CID, and the Agreement provides for the imposition of a 1.0% CID sales tax within the CID, for a period of up to twenty-two (22) years from the date that the CID sales tax is first imposed. The CID is pay- as-you-go only, with no opportunity for the issuance of bonds. The maximum amount of CID reimbursements available to Developer is capped at $2,027,798. The reimbursements of eligible expenses from pay-as-you-go CID financing are to be paid on a 50/50 basis between Developer's private funds and the available CID sales tax funds, and there shall not at any time during the CID sales tax collection term be more Project costs paid with CID sales tax proceeds than the amount of Project costs paid by ▇▇▇▇▇▇▇▇▇'s private funds.

Cid Financing. A. The County has, by Resolution No. 2012-001, authorized a 2% sales tax on sales within the Downtown Anthony Community Improvement District. The Kansas Department of Revenue has commenced imposition of the CID sales tax in accordance with Resolution No. 2012-001.

Cid Financing. Section 3.01. Pay-as-you-go Financing of the CID Costs. 2 Section 3.02. Certification of Expenditures. 3 Section 3.03. Reimbursement. 3 Section 3.04. Payments to the City. 3 Section 3.05. Sales Tax Information. 3

Cid Financing. Section 5.01. CID Sales Tax. 13 Section 5.02. CID Sales Tax Fund. 13 Section 5.03. Pay-as-you-go Financing of the CID Costs. 13 Section 5.04. Certification of Expenditures 13 Section 5.05. Reimbursement 14 Section 5.06. Payment of the City’s Administrative Service Fee and Other Eligible Expenses. 14 Section 5.07. Sales Tax Information. 14 Section 5.08. Termination of the CID 15 Section 5.09. Modification of the District 15 Section 5.10. Public Disclosure. 15

Cid Financing. Section 3.01. Pay-as-you-go Financing of the CID Costs. The CID Sales Tax will be used to reimburse CNP2 for costs of the CID Project, subject to the terms of this Agreement. Reimbursements will be made solely to CNP2, except for payment of the amounts payable to the City pursuant to Section 3.04 which will be deducted by the City in advance of distribution of the CID Sales Tax revenues to CNP2. So long as the total amount of CID Project costs requested for reimbursement through CID Sales Tax revenues does not exceed the actual amount expended for such use or the CID Costs Cap: (a) CNP2 may seek reimbursement of any particular line item designated as CID Project costs in the budget set forth on Exhibit E not exceeding 120% of the amount stated therein; and (b) CNP2 will be permitted to adjust the amounts estimated as CID Project costs within and between each line item with the written consent of the City Manager.

Cid Financing. The Agreement also contemplates the creation of a CID sales tax of 1% on retail sales to be added on top of the base sales taxes within the District, the proceeds of which may be used for pay-as-you-go financing to the Developer. The CID pay-as-you-go financing in this Agreement is only for use on site improvements specified in the Project Budget and would also be limited in a number of important ways: (a) the CID collection period ends twenty 22 years from the date that the CID sales tax is first imposed; (b) reimbursement would be paid on a 50/50 basis between private funds and the available CID sales tax proceeds to ensure that at all times, the City will not have paid more CID proceeds to Developer than the amount of project costs paid by private funds; and (c) the maximum amount of CID reimbursements available to Developer is capped at $1,722,405 (the "CID Cap"), which represents a 44.3% reduction from the original CID Cap of $3,091,713 in the Original Redevelopment Agreement (at the direction of the FAED Committee for further evolution of the Project).

Cid Financing. Section 6.01. CID Creation. 20 Section 6.02. CID Sales Tax. 20 Section 6.03. CID Sales Tax Funds. 20 Section 6.04. CID Application Fee. 21 Section 6.05. Payment of the State Administrative Fee, City’s Administrative Service Fee and City Expenses. 21 Section 6.06. Pay-as-you-go Financing of the CID Eligible Costs. 21 Section 6.07. Certification of CID Expenditures. 21 Section 6.08. Reimbursement. 22 Section 6.09. Sales Tax Information. 22 Section 6.10. CID Termination. 22 Section 6.11. Modification of the District. 22 Section 6.12. Public Disclosure. 23 Section 7.01. Parking Agreement. 23 Section 7.02. Skywalk Agreement. 23 Section 7.03. Option to Purchase Agreement 23

Cid Financing