Creation of Development Program Fund. Within sixty (60) days after the Effective Date of the Development Program, the City shall create and establish a segregated fund in the name of the City designated as the “000 Xxxxxxxxxx Xxxxxx Municipal Affordable Housing Development and Tax Increment Financing District Program Fund” (hereinafter the “Development Program Fund”) pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S.A. § 5250-A(3). The Development Program Fund shall consist of the Project Cost Account, which is pledged to and charged with the payment of Project costs described in the Development Program, as provided in 30-A M.R.S.A.§ 5250-A(3)(A)(1). The Project Cost Account is pledged to and charged with the payment of costs in the manner and priority provided in Section 3.1(b) below.
Creation of Development Program Fund. Within sixty (60) days after the Effective Date, the Town shall create and establish a segregated fund in the name of the Town designated as the “Town Center Infrastructure Improvement Development Program Fund” (hereinafter the “Development Program Fund”) pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S.A. § 5227(3). The Development Program Fund shall consist of the Project Cost Account that is pledged to and charged with the payment of project costs as outlined in the Financial Plan of the Development Program and as provided in 30-A M.R.S.A. § 5227(3)(A)(1). The Project Cost Account shall also contain two subaccounts designated as the “Developer Project Cost Subaccount” and the “Town Project Cost Subaccount.”
Creation of Development Program Fund. The Town hereby confirms the creation and establishment of a segregated account in the name of the Town designated as the “Quarry Ridge Development Program Fund” (hereinafter, the “Development Program Fund”) pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S.A. § 5250(3), as amended from time to time. The Development Program Fund shall consist of a Project Cost Account that is pledged to and charged with the payment of project costs as outlined in the Financial Plan of the Development Program and as provided in 30-A M.R.S.A. § 5250(3)(A)(1), as amended from time to time. All of the Retained Tax Increment Revenues will be allocated to the Developer (the “Developer Tax Increment Revenues”) and shall be deposited into the Developer Project Cost Account.
Creation of Development Program Fund. The Town hereby confirms the creation and establishment of a segregated fund in the name of the Town designated as "TIF District #1, the Town of Cumberland Municipal Development Tax Increment Financing District Program Fund" (the "Development Program Fund") pursuant to, and in accordance with the terms and conditions of, the Development Program. The Development Program Fund shall consist, as described in the Development Program, of a Project Cost Account and a Sinking Fund. The Development Program Fund Project Cost Account shall consist of and be separated into separate sub-accounts or funds for each Credit Enhancement Agreement entered with respect to property in the District, and one of such sub-accounts shall be the Developer’s Project Cost Account and a separate sub-account shall be established as the Town’s Project Cost Account. The Sinking Fund, the Town’s Project Cost Account and each sub-account for each Credit Enhancement Agreement entered with any person or entity other than Developer shall be the sole and exclusive property of the Town and shall not be subject in any way to the terms or provisions of this Agreement.
Creation of Development Program Fund. The City hereby confirms the creation and establishment of a segregated fund in the name of the City designated as the “Development Program Fund” pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S. § 5250-A(3). The Development Program Fund shall include a project cost account (the “Project Cost Account”) within which the City shall maintain a subaccount for City project costs (the “City Project Cost Subaccount”) and a subaccount for Developers Collaborative project costs (the “Developers Collaborative Project Cost Subaccount”). The Developers Collaborative Project Cost Subaccount is pledged to and charged with the payment of costs in the manner and priority provided in 30-A M.R.S. § 5250-A(3)(A)(1) and as set forth in Section 3.1(b) below.
Creation of Development Program Fund. The City hereby confirms the creation and establishment of a segregated fund in the name of the City designated as the "Bath Iron Works Corporation Municipal Development Tax Increment Financing District Program Fund" (the "Development Program Fund") pursuant to, and in accordance with the terms and conditions of, the Development Program. The Development Program Fund shall consist of the Project Cost Account. The Project Cost Account shall consist of the City Subaccount and the Developer Subaccount.
Creation of Development Program Fund. Within sixty (60) days after the Effective Date of the Amended and Restated Development Program, the Town shall create and establish a segregated fund in the name of the Town designated as the “Ferry-Crossing-Rynel Municipal Development and Tax Increment Financing District Fund” (hereinafter the “Development Program Fund”) pursuant to, and in accordance with the terms and conditions of, the Amended and Restated Development Program and 30-A M.R.S.A. § 5227(3). The Development Program Fund shall consist of a Project Cost Account that is pledged to and charged with the payment of project costs as outlined in the Financial Plan of the Amended and Restated Development Program and as provided in 30-A M.R.S.A.§ 5227(3)(A)(1), and, if necessary, may also consist of a Sinking Fund Account that is pledged to and charged with the payment of Town indebtedness, if any, as outlined in the Financial Plan of the Amended and Restated Development Program and as provided in 30-A M.R.S.A § 5227(3)(A)(2). The Project Cost Account shall also contain two subaccounts designated as the “Company Project Cost Subaccount” and the “Town Project Cost Subaccount.” The Development Program Fund is pledged to and charged with the payment of costs in the manner and priority provided in 30-A M.R.S.A. § 5227(3)(B) and as set forth in Section 3.1(b) below.
Creation of Development Program Fund. The City hereby confirms the creation and establishment of a segregated fund in the name of the City designated as the “Development Program Fund” pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S. § 5227(3). The Development Program Fund shall be used to fund payments to Developer. The Development Program Fund consists of two sub-accounts: one for the Developer reimbursement and one for the City programs and projects. Upon each payment in full as due of property taxes by the Developer, the City, based upon the allocations described above, will deposit into the Development Program Fund Developer’s sub-account. The Development Program Fund Developer’s sub-account is pledged to and charged with the payment of the project costs in the manner provided in 30-A
Creation of Development Program Fund. Within sixty (60) days after the Effective Date of the Development Program, the City shall create and establish a segregated fund in the name of the City designated as the “Saco-Lowell Municipal Development and Tax Increment Financing District Program Fund” (hereinafter the “Development Program Fund”) pursuant to, and in accordance with the terms and conditions of, the Development Program and 30-A M.R.S.A. § 5227(3). The Development Program Fund shall consist of a Project Cost Account that is pledged to and charged with the payment of project costs as outlined in the Financial Plan of the Development Program and as provided in 30-A M.R.S.A.§ 5227(3)(A)(1). The Project Cost Account shall also contain two subaccounts designated as the “Saco-Lowell Project Cost Subaccount” and the “River Lot Project Cost Subaccount,” as well as a subaccount for the City designated as the “City Project Cost Subaccount.” The Development Program Fund is pledged to and charged with the payment of costs in the manner and priority provided in 30-A M.R.S.A. § 5227(3)(B) and as set forth in Section 3.1(b) below.
Creation of Development Program Fund. The Town hereby confirms the creation and establishment of a segregated fund in the name of the Town designated as the "Hampden Business Park Omnibus Municipal Development District and Tax Increment Financing District Development Program Fund" (the "Development Program Fund") pursuant to, and in accordance with, the terms and conditions of the Development Program and Development Agreement. The Development Program Fund shall consist of a single Project Cost Account, which shall include a Developer Project Cost Sub-account and a Town Project Cost Sub-account.
