City Payments. Commencing on the Casino Opening Date, Tenant shall make payments to the City (the "City Payments") in the amount of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) for each Fiscal Year during the Term in which Gross Gaming Revenue is in the amount of Three Hundred Fifty Million Dollars ($350,000,000) or more. The City Payments are payable in monthly installments in the amount of One Hundred Four Thousand One Hundred Sixty-Seven Dollars ($104,167) each. The first such installment was payable on the Casino Opening Date and subsequent installments shall be due on the same day of each succeeding calendar month during the Term. Not later than ninety (90) days after the end of each Fiscal Year, Tenant shall submit to the City a report showing:
(1) Gross Gaming Revenue for such Fiscal Year;
(2) The total amount of the City Payments made and overpayment credits applied, if any, for such Fiscal Year; and
(3) The amount of the City Payments due for such Fiscal Year. If the amount of the City Payments due to the City for any Fiscal Year is less than the amount paid, Tenant shall receive a credit in the amount of the overpayment only against the installments of the next year's City Payments in the order in which they become due. If Gross Gaming Revenue is less than Three Hundred Fifty Million Dollars ($350,000,000) in a Fiscal Year, the credit for the City Payments made with respect to that Fiscal Year shall continue to be carried forward to the earliest succeeding Fiscal Years for which City Payments are due until such credit is fully applied against the City Payments; provided that any such credit shall only be applied against any such City Payments and not as a credit or setoff against Rent or other Additional Charges due or to become due Landlord or the City pursuant to this Lease or otherwise. At the end of the Term or any earlier termination pursuant to the terms and conditions of this Lease, any unused credit shall be extinguished and deemed released by Tenant and neither the City nor Landlord shall have any obligation to refund to Tenant, nor shall Tenant have any claim to recover, any such unused credit. The City Payments shall be prorated for each Partial Fiscal Year during the Term. The City Payments shall not constitute or be deemed a payment for support services within the meaning of LSA R.S. 27:247, and the parties to this Lease acknowledge and agree that Tenant is responsible for payment of support services under LSA R.S. 27:247.
City Payments. 5.1 The City will pay JFLT the entire Purchase Price for the North ROW and the Remnant Parcel within five (5) days after the date that the City issues the 1st home building permit for the Residential Development Parcel.
5.2 The City will pay or reimburse JFLT for design costs incurred for the Xxxxxxx Home Road Extension that are allocated to the City pursuant to Section 3 in monthly installments within thirty (30) days after receipt of the civil engineer’s/design professionals’ monthly statements, until the monthly installment payments equal the total design costs incurred for the Xxxxxxx Home Road Extension that are allocated to the City pursuant to Section 3.
5.3 The City will pay or reimburse JFLT for construction costs incurred for the Xxxxxxx Home Road Extension that are allocated to the City pursuant to Section 4 in monthly installments within thirty (30) days after receipt of the contractor’s payment applications, until the monthly installment payments equal the total construction costs incurred for the Xxxxxxx Home Road Extension that are allocated to the City pursuant to Section 4.
City Payments. The City agrees to pay Partners Two Hundred Thousand Dollars ($200,000.00), which shall be understood to constitute an Affordable Housing Grant as authorized by the American Rescue Plan Act (“ARPA”). This payment is provided as part of a negotiated, lawful contract with Partners in exchange for consideration, including requirements to develop the Properties in a manner that inures to the benefit of the general public. Said payment is in no way tied to future property tax payments and do not provide any future tax break, nor do they refund already paid taxes.
City Payments. The CITY will reimburse the CONTRACTOR on the twentieth 911 (20th) day of month beginning with the first (1st) CITY reimbursement by May 20, 2009. CITY 912 shall reimburse CONTACTOR up to the total amount the CITY receives in Used Oil Block Grant 913 monies from the CIWMB. CONTRACTOR shall be responsible for ABOP roundup costs that 914 exceed CITY reimbursement. City files the grant application and reports back to the CIWMB.
City Payments i. For each respective City of Detroit fiscal year budget of this MOU, City Council will approve an annual budget allocation to the Detroit Land Bank to fund in-part its obligations under this MOU and to support other Detroit Land Bank operations.
ii. Any payments in excess of the annual allocation made by the City to the Detroit Land Bank will be in such amounts as are approved by the City Council for blight remediation services and any other approved services.
City Payments. The term "City Payments" shall mean and refer to the annual payments to be determined and made pursuant to Section 3.4.
City Payments. For purposes hereof, the “City Payments Amount” means the sum of
City Payments. The City will calculate the Income from the Trust Fund, and make annual cash grant payments of such Income to the Conservancy, as described in this section.
City Payments. Section 4.4.1 Condemnation......................................................................Section 15.1(a) Condemnation Escrow Account..........................................................Section 15.4
City Payments. (a) The Developer Incentive Payment in the amount of Five Million Dollars ($5,000,000) shall become payable by the City to or for the benefit of the Owner contingent upon the following and then on the schedule attached hereto as Exhibit H. The Developer Incentive Payment shall be due from the City according to the terms and conditions of this Agreement and if and only if satisfactory proof of the following are provided to the City from the Developer or Owner:
(1) Evidence of fund availability, through the Local Contribution, Developer Incentive Payment, and State Commitment, in an amount sufficient to substantially construct the Development for the Expected Cost;
(2) An executed construction contract for the Development; and
(3) Evidence demonstrating substantial construction of the footings and building foundation of the Development.
(b) The City entered into a Tourism Promotion and Development Agreement (“Tourism Agreement”) with Visit Eau Claire to help ensure payment of the Annual VEC Contribution through December 31, 2025. The Tourism Agreement provides for an initial term which continues through December 31, 2020, and an option to continue the Tourism Agreement through December 31, 2025. Notwithstanding the foregoing, the City agrees that in the event that the Tourism Agreement terminates, for any reason, prior to December 31, 2025, the City shall continue making the Annual VEC Contribution to the Confluence Council for the Confluence Council’s share of the operating expenses and reserves for the Development through December 31, 2025, but only with room tax revenue allocated to and paid exclusively through a tourism commission or tourism entity. The City shall have no obligation to make or ensure the Annual VEC Contribution after December 31, 2025 but the City shall use best efforts to ensure such annual support for the Development continues after December 31, 2025.
