City Incentives. City shall waive the Application fees and shall accept the Prior Improvements as City infrastructure. City shall also name the north-south street improvements from Third Street to Charolais Heights “Xxxxxxxxx Road” and the connecting bridge at Third Street “Xxxxxxxxx Bridge.” As part of the bridge access, the City will engineer and construct a pass-way under the bridge or over the roadway to accommodate farm equipment to access both hay fields on either side of the roadway. City shall also xxxxx Xxxxxxxxx Ranch and its successors approval to partition and sell the four parcels referenced above and contained in Exhibit A in accordance with the Laws and this Agreement.
City Incentives. The City Property Donation.
City Incentives. The City offers the following incentives for Developer to fulfill its obligations and representations as set forth in this Agreement relating to developing the Project on the Property:
City Incentives. (a) Landlord and Tenant acknowledge and agree that Tenant is presently negotiating certain agreements (which agreements shall be acceptable to Tenant in its sole discretion) with the Deputy Mayor for Economic Development and Rebuilding and/or the New York City Economic Development Corporation (and/or other agencies or instrumentalities of New York City) which are necessary in order to implement the conversion of certain New York State and/or New York City sales tax exemptions which Tenant or an Affiliate of Tenant is presently eligible for into real estate tax abatements or tax exemptions (or other benefits) benefiting Tenant or an Affiliate of Tenant at the Premises and/or at the building known as 383 Madison Avenue, New York, New York (such real estate tax axxxxxxxxx xx xxx xxxxxxxxxx xx xxxxx xenefits are hereinafter referred to as the "City Incentives" and such agreements are hereinafter referred to as the "Incentives Agreements"). Tenant shall use good faith diligent efforts to complete the Incentives Agreements and to file and prosecute any applications which are necessary in connection therewith.
(b) Landlord shall afford reasonable, good faith cooperation to Tenant in connection with Tenant's efforts to fulfill its obligations pursuant to the last sentence of Paragraph 19(a) and Tenant's efforts otherwise to secure implementation of the City Incentives, provided, that Landlord shall not be obligated to incur any costs (including without limitation reasonable attorneys fees and disbursements), incur any losses or subject itself to potential liability thereby. Landlord's reasonable, good faith cooperation shall extend to (i) the execution of applications and related documents which have been prepared by Tenant and which are necessary in Tenant's reasonable judgment in order for Tenant to obtain and secure implementation of the City Incentives, (ii) the passing through to Tenant of any reductions in PILOT or Taxes (as such terms are defined in the Ground Lease) that are being granted to Landlord solely in order to implement the City Incentives on Tenant's behalf, (iii) the execution of any amendments to the Ground Lease, amendments to the Lease and supplemental agreements with agencies or instrumentalities of New York City which are necessary in order to implement the City Incentives on Tenant's behalf, (iv) the exercise by Landlord of commercially reasonable, diligent efforts to obtain amendments to space leases in the Building which are necessary in...
City Incentives. (a) Landlord and Tenant acknowledge and agree that Tenant reserves the right to negotiate certain agreements with the Deputy Mayor for Economic Development and Rebuilding and/or the New York City Economic Development Corporation (and/or other agencies or instrumentalities of New York City) for certain economic incentives with respect to the Lease and this Second Amendment (the "City Incentives").
(b) Landlord shall afford reasonable, good faith cooperation to Tenant in connection with Tenant's efforts to secure implementation of the City Incentives, provided, that Landlord shall not be obligated to incur any costs (including without limitation reasonable attorneys fees and disbursements), incur any losses, or subject itself to potential liability thereby. Landlord's reasonable, good faith cooperation shall extend to the execution of applications and related documents that have been prepared by Tenant and that are necessary in Tenant's reasonable judgment in order for Tenant to obtain and secure implementation of the City Incentives.
(c) Tenant acknowledges that this Second Amendment is not conditioned upon Tenant's ability to secure the implementation of any City Incentives.
City Incentives. 3.1. City agrees to fast track the review process for development related permits. City agrees to waive up to $300,000 (in the aggregate) in permit fees for any permits required by Chapter 14 of the of the Xxxxx Code of Ordinances.
3.2. City will grant to Developer a rebate equal to fifty percent (50%) of all HOT fund revenue generated by the hotel in Phase I (based on, and taken from, funds remitted to the City by the Texas Comptroller of Public Accounts). Developer may request the rebate on a quarterly basis, at an interval agreed upon by the parties, provided that Developer is not otherwise in breach of this Agreement and HOT funds are available. This rebate will terminate upon the earlier of the expiration of this Agreement or when the aggregate amount of HOT funds granted to Developer equals $2,250,000.
3.3. City agrees that the board of directors of TIRZ #21 will create an Infrastructure Grant Fund and will sequester one hundred percent (100%) of the tax increment generated by Phases I, II, and III, as well as the unencumbered portion of the remaining tax increment generated by TIRZ #21.
a) Funds are encumbered if they are necessary to pay the project costs in TIRZ #21 as defined in amendments 1 through 8 of the Project and Finance Plan (excluding project costs related to this Agreement) and/or to maintain a $100,000 fund balance for the TIRZ #21 Tax Increment Fund.
b) It is understood that the City and the County have entered, or will enter, into an interlocal agreement whereby the County will contribute eighty percent (80%) of the County’s portion of the tax increment generated by Phases I, II, and III to TIRZ #21 as well, which funds will be sequestered in the Infrastructure Grant Fund.
c) Notwithstanding any other provision in this Agreement, Developer has no claim or interest, express or implied, at law or in equity, to the money in the Infrastructure Grant Fund or the TIRZ #21 Tax Increment Fund. They are simply the identified source of funds, within the complete and total control of the City, from which grant payments may be made.
3.4. Starting as early as January 1, 2028, if the applicable benchmarks set forth above are met, Developer may request bi-annual grant payments from the Infrastructure Grant Fund, up to $8,500,000 in the aggregate for Phase I.
a) The Infrastructure Grant payment for Phase I will be paid no more frequently than twice per fiscal year at an agreed upon interval.
b) Grant payments are restricted to the funds available in...
City Incentives. As an inducement to the Developer to enter into this Agreement and perform its obligations hereunder, the City agrees to provide the following incentives subject to the achievement of the Closing described below:
City Incentives. As set forth in the Approved Budget and in separate agreements executed by the City Parties, the City Parties and Midlothian Economic Development have agreed to provide, and will provide, the following economic incentives to the Owner: land contribution, waiver of fees for building permits for construction per the Approved Budget, construction sales tax, sales tax credit (2% of actual taxable sales generated for the first 8 years of operations), property tax credit (80% of City of Midlothian property taxes for the first 8 years of operations), Transient Occupancy Tax (7% of rooms revenue, rebate of 80% for the first 8 years of operations). Collectively, the “City Incentives,” the City Incentives with respect to sales tax, property tax, and transient occupancy taxes are subject to the terms and conditions of the specific separate agreements between the City Parties and the Developer Parties.
City Incentives. Identify all incentives to be provided by the City upon satisfaction of the requirements
City Incentives. In consideration of G2V’s promises as described below, the City will provide the following: fast-track plan check and building permit issuance for G2V’s proposed facilities; construction of associated public infrastructure as identified in Exhibit B; a waiver of impact fees applicable to 1,075,000 square feet of G2V’s proposed project’s office and manufacturing space; water and wastewater availability applicable to and limited to G2V’s operational requirements in an amount not-to-exceed 375 acre feet per year; expedited facility inspections as required throughout the construction of the project’s 1,075,000 square feet of space; support for G2V’s request for, applicable New Mexico incentives, including, but not limited to, the Job Training Incentive Program, Manufacturing Investment Tax Credit, and High Wage Tax Credit; and
