City Cooperation in Determining TIF Revenues Sample Clauses

City Cooperation in Determining TIF Revenues. (a) The City shall, upon the application by a Tenant within the Redevelopment Area for a business license from the City, provide written notice to the Tenant (with a copy to the Developer), advising the Tenant (i) that it is in the Redevelopment Area, (ii) that it should use Xxxx # 00000 to designate sales taxes collected in the Redevelopment Area, and (iii) of this Section 2.3(a), that this Section 2.3(a) is a covenant running with the land, and that the Tenant has the duties and obligations set out in this Section 2.3(a). The City may satisfy all of the City’s obligations under this Section 2.3(a) by delivering to each such applicant, with a copy to the Developer, a written notice in the form attached hereto as Exhibit C within thirty (30) days after the date of any such application by a Tenant within the Redevelopment Area for a business license from the City. (b) The City shall deposit into the Special Allocation Fund sales tax revenues that are designated by the State or the County for deposit into the Special Allocation Fund. (c) The City shall monitor the sales tax filings for Tenants within the Redevelopment Area, as follows: i. obtaining monthly sales tax reports from the Missouri Department of Revenue; ii. reviewing each report on a timely basis; iii. timely reporting any inaccuracies of which the City becomes aware to the Missouri Department of Revenue; and iv. verifying that any reported inaccuracies have been corrected. In lieu of monitoring sales tax collections per clauses (i) through (iv) above, the City may engage, at the expense of the trust estate for the TIF Obligations, a third party approved by the Developer to act as the City’s agent to monitor sales tax collections on a monthly or quarterly basis. The Developer hereby approves Xxxx & Xxxxx LLC to act as the City’s agent to monitor sales tax collections. (d) Other than taking the steps set forth in this Section, the City will have no duties, obligations or liability in connection with the collection and deposit of sales tax revenues.
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