Common use of City Taxes Clause in Contracts

City Taxes. Municipal ad valorem real estate taxes (hereinafter referred to as “City taxes”) shall not be imposed on the Property or on any individual lot(s) comprising the Property (hereinafter referred to as “Lot”) until the earlier to occur of the following: A. Owner requests that the City provide to the Property or that Lot public water or sanitary sewer and/or municipal services not available to the Property or that Lot as of the Effective Date of this Resolution, and pursuant to such request, such services requested are made available to the Property or that Lot, and one or more buildings or structures on the Property or that Lot is actually connected to such services; or B. Seven (7) years from the Effective Date of this Resolution except in the event of a moratorium or de facto moratorium imposed by any applicable governmental authority which has the effect of denying public utilities or services to any or all of the Property, in which case the moratorium shall delay the running of the seven (7) year period, to the extent of the time of such moratorium, as to any of the Property which cannot be provided public utilities or services as a result of such moratorium. C. In the event any Lot becomes subject to City taxes pursuant to either paragraph 7.A or 7.B above, the remainder of the Property from which the Lot was subdivided which has not previously connected to municipal service in the case of A. above, shall not be subject to City taxes. D. Notwithstanding anything in this Paragraph 7 to the contrary, in order to offset the costs of providing certain limited City services to the Property, including but not limited to police, planning and legislative, Owner shall pay the City an annual payment in the initial amount of $2,000, commencing with the City’s 2025 Fiscal Year, and increasing by $500 each two (2) years thereafter, until such time as all or any portion of the Property becomes subject to City taxes in accordance with the terms of this Paragraph 7, in which event the annual payment required hereunder shall cease.

City Taxes. Municipal ad valorem real estate taxes (hereinafter referred to as “City taxes”) shall not be imposed on the Property or on any individual lot(s) comprising the Property (hereinafter referred to as “Lot”) until the earlier to occur of the following: A. Owner requests that the City provide to the Property or that Lot public water or sanitary sewer and/or municipal services not available to the Property or that Lot as of the Effective Date of this Resolution, and pursuant to such request, such services requested are made available to the Property or that Lot, and one or more buildings or structures on the Property or that Lot is actually connected to such services; or B. Seven (7) years from the Effective Date of this Resolution except in the event of a moratorium or de facto moratorium imposed by any applicable governmental authority which has the effect of denying public utilities or services to any or all of the Property, in which case the moratorium shall delay the running of the seven (7) year period, to the extent of the time of such moratorium, as to any of the Property which cannot be provided public utilities or services as a result of such moratorium. C. In the event any Lot becomes subject to City taxes pursuant to either paragraph 7.A or 7.B above, the remainder of the Property from which the Lot was subdivided which has not previously connected to municipal service in the case of A. above, shall not be subject to City taxes. D. Notwithstanding anything in this Paragraph 7 to the contrary, in order to offset the costs of providing certain limited City services to the Property, including but not limited to police, planning and legislative, Owner shall pay the City an annual payment in the initial amount of $2,000, commencing with the City’s 2025 2023 Fiscal Year, and increasing by $500 each two (2) years thereafter, until such time as all or any portion of the Property becomes subject to City taxes in accordance with the terms of this Paragraph 7, in which event the annual payment required hereunder shall cease.

City Taxes. Municipal ad valorem real estate taxes (hereinafter referred to as “City taxes”) shall not be imposed on the Property or on any individual lot(s) comprising the Property (hereinafter referred to as “Lot”) until the earlier to occur of the following: A. Owner requests that the City provide to the Property or that Lot public water or sanitary sewer and/or municipal services not available to the Property or that Lot as of the Effective Date of this Resolution, and pursuant to such request, such services requested are made available to the Property or that Lot, and one or more buildings or structures on the Property or that Lot is actually connected to such services; or B. Seven (7) years from the Effective Date of this Resolution except in the event of a moratorium or de facto moratorium imposed by any applicable governmental authority which has the effect of denying public utilities or services to any or all of the Property, in which case the moratorium shall delay the running of the seven (7) year period, to the extent of the time of such moratorium, as to any of the Property which cannot be provided public utilities or services as a result of such moratorium. C. In the event any Lot becomes subject to City taxes pursuant to either paragraph 7.A or 7.B above, the remainder of the Property from which the Lot was subdivided which has not previously connected to municipal service in the case of A. above, shall not be subject to City taxes. D. Notwithstanding anything in this Paragraph 7 to the contrary, in order to offset the costs of providing certain limited City services to the Property, including but not limited to police, planning and legislative, Owner shall pay the City an annual payment in the initial amount of $2,000, commencing with the City’s 2025 20 Fiscal Year, and increasing by $500 each two (2) years thereafter, until such time as all or any portion of the Property becomes subject to City taxes in accordance with the terms of this Paragraph 7, in which event the annual payment required hereunder shall cease.