Depreciation, Investment Tax Credit and Other Tax Benefits. The City agrees that any depreciation, investment tax credit or any other tax benefits with respect to the Project or any part thereof shall be made available to the Company, and the City will fully cooperate with the Company in any effort by the Company to avail itself of any such depreciation, investment tax credit or other tax benefits.
Depreciation, Investment Tax Credit and Other Tax Benefits. This Lease is intended to convey to the Developer all of the benefits and burdens of ownership and to cause the Developer to be treated as the owner of the Project for federal income tax purposes. The Trustee, the Developer and the City agree to treat this Lease in a manner consistent with such treatment. The Developer alone shall be entitled to all of the federal income tax attributes of ownership of the Project, including without limitation the right to claim depreciation, amortization deductions, investment tax credits or any other tax benefits. The City agrees that any depreciation, amortization deductions, investment tax credits or any other tax benefits with respect to the Project or any part thereof shall be made available to the Developer, and the City will fully cooperate with the Developer in any effort by the Developer to avail itself of any such depreciation, amortization deductions, investment tax credit or other tax benefits.
Depreciation, Investment Tax Credit and Other Tax Benefits. The Issuer agrees that any depreciation, investment tax credit or any other tax benefits with respect to the Project or any part thereof shall be made available to the Company, and the Issuer will fully cooperate with the Company in any effort by the Company to avail itself of any such depreciation, investment tax credit or other tax benefits.
Depreciation, Investment Tax Credit and Other Tax Benefits. The Authority agrees that any depreciation, investment tax credit or any other tax benefits with respect to the Project Improvements or any part thereof shall be made fully available to the Redeveloper, and the Authority, at the Redeveloper’s sole cost and expense (including, without limitation, attorney’s fees incurred by the Authority), will cooperate with the Redeveloper in any effort by the Redeveloper to avail itself of any such depreciation, investment tax credit or other tax benefits.
Depreciation, Investment Tax Credit and Other Tax Benefits. The City agrees that any depreciation, investment tax credit or other tax benefits with respect to the Project or any part thereof shall (as between the City and the Company) be made available to the Company, and the City will, if necessary or appropriate in the judgment of counsel to the Company (which counsel may be in-house counsel to the Company), and at the sole expense of the Company, execute any elections, certificates, filings and other documentary assurances reasonably requested by the Company in any effort by the Company to avail itself of any such depreciation, investment tax credit or other tax benefits. Reports.Annually for the duration of the Lease, the Company shall submit to the City a written certification that the Company is in compliance with all the covenants and representations set forth in this Agreement. As part of this update, the Company is asked to provide the MRA with a short project status update. This update can include occupancy and any developments that occurred post-abatement execution (e.g., installation of new art, struggles with tenant turnover, etc.). Updates can be concise and email is an acceptable format. Project reports will be due at the same time as the annual fee payment, on April 10 and November 10 of each year.
Depreciation, Investment Tax Credit and Other Tax Benefits. The City and WCIC agree that any depreciation, investment tax credit or any other tax benefits with respect to the Project or any part thereof shall be made available to Valent, and the City and WCIC will fully cooperate with Valent in any effort by Valent to avail itself of any such depreciation, investment tax credit or other tax benefits.
