City Grant Sample Clauses

City Grant. The CDBG Funds provided by the City to Subrecipient pursuant to this Agreement for performance of the Activity by Subrecipient.

City Grant. 3. City will pay to BBC on October 1 of each year of this Agreement, as a grant to BBC for the BBC Program, an amount equal to the annual principal and interest payments required to service the loan for the acquisition of the Program Property, such amount estimated to be equal to the sum of Dollars ($_ _). The total cumulative amount paid by City under this grant shall not exceed _ Dollars ($ ). City will make an annual grant payment on or before _ of a given year. A grant year shall be determined according the City’s fiscal year in which a grant payment is made. 4. The City’s obligations under this Agreement are conditioned upon annual appropriation for same by the City Council. 5. This Agreement may be terminated by the City by giving the BBC nine (9) months' written notice of the intent to terminate the Agreement during which time the BBC will make a commercially reasonable effort to sell the Program Property acquired under the BBC Program ("Sales Period"). If the BBC is unable to sell the Program Property within the Sales Period, this Agreement will be extended for six (6) additional three (3) month periods of time (each an "Extended Sales Period") in order to facilitate the sale of the Program Property. The proceeds from the sale of the Program Property shall be distributed as set forth in the following paragraph. 6. Upon the sale of the Program Property or any part thereof ("Sales Event"), the proceeds of the Sales Event will be distributed as follows: a. First, to the payment of any debts or current obligations related to the Program Property including any partial release price required by a secured lender that funded the acquisition of the Program Property; b. Then payment to the BBC of an amount equal to a % annual rate of return on any BBC money invested in the BBC Program; c. The payment to the BBC for all costs incurred by the BBC in the development of the Program Property as described in Paragraph 1 above (such reimbursable costs to include the BBC's prorata share of any off-site utility development costs, but not including any closing costs associated with the sale of the Program Property); d. Then the remainder of the sales proceeds, if any, will be divided between the City and the BBC as follows: • 70% to the City; and • 30% to the BBC. 7. In the event that the City determines that it is in the best interest of the City and the BBC Program to transfer all or a portion of the Program Property to a Target Company or Target Companies, at no co...

City Grant. 4.1 The Council shall determine from time to time its strategic policies, priorities and directions including for the development and funding of arts and culture in the City, and for grants generally, and in accordance with such policies, priorities and directions, shall determine on an annual basis its financial commitment to funding for arts and cultural grants. 4.2 Subject to TAC’s compliance with section 3, Council shall review TAC’s Grant Budget Request(s) and may approve it in whole or in part. In approving a Grant Budget Request, Council may, in addition to any condition contemplated in this Agreement, attach such additional conditions as are not inconsistent with the provisions of this Agreement 4.3 The Council shall, in each year, approve the City’s total budget for arts and culture grants and subject to section 3, the City shall provide a grant to TAC. (a) The Grant for the Operations Program including any interim advances shall be disbursed to TAC in instalments by the City’s Chief Financial Officer and Treasurer according to a cash flow forecast prepared by TAC immediately preceding Council approval of the Grant allocation. (b) Until the finalization by Council of the Grant for the Operations Program, interim advances shall be paid to TAC in the same amounts paid to TAC in the previous calendar year. All such interim advances shall be subject to adjustment upon the finalization of the annual Grant for the Operations Program.

City Grant. The City shall provide to the Authority a grant of One Hundred and Fifty Thousand dollars ($150,000), which funds shall be paid to the Authority on or before April 30, 2024 (the “City Grant).

City Grant. The City agrees to grant up to $15,000.00 to the Company toward the costs of the Project through the Small Business Assistance grant program, (the “City Grants”), payable upon completion. The City Grants will be expensed from the Economic Development Capital Projects account (#431‐4070‐53000). This grant amount will not increase if the applicant chooses to make additional improvements not contemplated in the grant application. The City reserves the right to decrease the awarded grant amount, if recommended by the Economic Development Incentive Committee, for changes to the Project scope. Construction must be done in accordance with and to the reasonable satisfaction of the City, which would include, but not limited to, compliance with all Planning and Zoning codes and other applicable codes and regulations of the City of Sandusky, including obtaining permits. The Project must be completed by December 31, 2019. This date may be extended at the discretion of the City Manager. Furthermore, the Company agrees to display a sign for at least one year upon completion of the Project noting the City’s support; and The Company shall notify the City promptly following the completion of the Project consistent with this Section and provide the City with any documents it reasonably requests related to the construction and Project costs. The City shall then promptly review those documents and inspect the site and let the Company know if it has satisfied the condition set forth in this Section and, if not, describe what is found to be deficient. The City shall pay the City Grant by check in the name of the Company placed in the U.S. regular mail within fourteen (14) days following confirmation of the satisfactory completion of construction to the notice address provided in Section 6 below.

City Grant. The City agrees to grant up to $102,500.00 in the form of a Substantial Redevelopment grant to the Company (the “City Grant”) toward the costs of the Project, with fifty percent (50%) of the City Grant, or $51,250, to be disbursed upon fifty percent (50%) of the Project and the remaining fifty percent (50%) of the City Grant, or $51,250, to be disbursed upon issuance of a certificate of occupancy for the Building or February 1, 2020, whichever is later. This City Grant will not increase if the applicant chooses to make additional improvements not contemplated in the grant application. The City reserves the right to make adjustments to the awarded grant amount, if recommended by the Economic Development Incentive Committee, for substantive changes to the project scope only. Construction must be done in accordance with and to the reasonable satisfaction of the City, which includes, but is not limited to, compliance with all Planning and Zoning codes, including Landmarks Commission approval, and other applicable codes and regulations of the City, including obtaining permits. Furthermore, the Company agrees to display a sign during construction and for at least one (1) year upon completion of the Project noting the City’s support; and The Company shall notify the City promptly following the completion of the Project consistent with this Section and provide the City with any documents it reasonably requests related to Project costs and construction. The City shall then promptly review those documents and inspect the site and let the Company know if it has satisfied the conditions set forth in this Section and, if not, describe what is found to be deficient. In order to receive the City Grant, the Project will need to be completed by December 31, 2020. This date may be extended at the discretion of the City Manager. The City shall pay the City Grant by check placed in the U.S. regular mail within fourteen (14) days following confirmation of the satisfactory completion of construction to the notice address provided in Section 6 below.

City Grant. The City hereby agrees to grant to the grantee designated by the Developer the sum of One Million Eight Hundred Thousand Dollars ($1,800,000), which funds will be used by the grantee to provide a loan to the Partnership to be used for all or a portion of the costs of construction and installation of the Community Space and tenant improvements for the Community Space, in accordance with the Scope of Development (the “City Grant”). The City Grant shall be disbursed in accordance with the Final Financing Plan as updated by the Closing Financing Plan.

City Grant. The City agrees to grant up to $22,500 to the Company (the “City Grant”) toward the costs of the Project, payable upon completion of the Project. The City Grant will be expensed from the Community Development Capital Projects account (#431‐4010‐53000). Construction must be done in accordance with and to the reasonable satisfaction of the City, which includes, but is not limited to, compliance with all Planning and Zoning, Building and Code Compliance matters and other applicable codes and regulations of the City, including obtaining permits. The Company is still obligated to meet the requirements for disbursement prior to receiving any award funds – as outlined on Page 12 of the Housing Development and Beautification Program Guidelines and Application. Furthermore, the Company agrees to display a sign during construction noting the City’s support. The Company shall notify the City promptly following the completion of the Project consistent with this Section and provide the City with any documents it reasonably requests related to Project costs and construction. The City shall then promptly review those documents and inspect the site and let the Company know if it has satisfied the condition set forth in this Section and, if not, describe what is found to be deficient. In order to receive the City Grant, the Project will need to be completed on or before July 31, 2020. This date may be extended at the discretion of the City Manager. The City shall pay the City Grant by check placed in the U.S. regular mail within fourteen (14) days following confirmation of the satisfactory completion of construction to the notice address provided in Section 6 below.

City Grant. In each fiscal year of this Agreement, the City shall provide to the Authority an annual grant in the amount of $150,000, which funds shall be paid to the Authority each year of the Term on or before April 30 (the “City Grant”).

City Grant. The City agrees to grant up to One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00) to the Company toward the costs of the Project through the Emergency Medical Services Fund, (the “City Grant”), which shall be payable only after an inspection and full approval by the City that the Project has been satisfactorily completed. The City Grants will be expensed from the Emergency Medical Services Fund (#431-1330-53000). This City Grant will not increase if the applicant chooses to make additional improvements not contemplated in the grant application. The City reserves the right to adjust the awarded grant amount, for substantive changes to the Project scope only. Construction must be done in accordance with and to the reasonable satisfaction of the City, which would include, but not limited to, compliance with all Planning and Zoning codes and other applicable codes and regulations of the City of Sandusky, including obtaining permits and licenses. The Project must be completed by December 31, 2019. This date may be extended at the discretion of the City Manager.