Economic Development Agreement Sample Clauses

Economic Development Agreement. The Company agrees to perform all material matters provided by the Economic Development Agreement to be performed by the Company and to comply with all material provisions of the Economic Development Agreement applicable to the Company, in each case to the extent that a failure to so perform or comply is expressly provided under the terms of the Economic Development Agreement to be an event of default by the Company or, with the passage of time or the giving of notice, or both, would constitute an event of default on the part of the Company under the Economic Development Agreement. The Company hereby reconfirms all of Company’s covenants in the Economic Development Agreement.
Sample 1
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Economic Development Agreement. For purposes of Article III, Section 52-a of the Texas Constitution, this Agreement shall be considered an economic development agreement under Chapter 380, Texas Local Government Code.
Sample 1
Economic Development Agreement. The average wage at Rivian will be $56,000. The Economic Development Agreement (EDA) is similar with previous major projects such as Kia Motors, Takeda (formerly Xxxxxx), and SK Innovation, in which state and local incentives focused on speed-to-market solutions. However, this EDA is more stringent on clawbacks than any of those earlier projects. Taxpayers are protected by Georgia’s transparent economic development process. Georgia’s Constitution requires that there be a balanced budget every year, and unlike some competitor states, does not allow cash grants directly to companies. Instead, the state puts dollars into project solutions to aid in speed-to-market for companies. The EDA requires that the Rivian project follow locally required standards which are outlined in greater detail below. Additional state and federal permitting must be fulfilled in the months ahead, along with other site development factors. Rivian Commitments o Minimum of $5 billion investment and creation of 7,500 full-time jobs by December 31, 2028, and continued maintenance of the jobs through 2047. Rivian has to make repayments to the state and JDA in any year in which its maintenance is below 80%. o PILOT payments (see above). o Payment for overages on costs relating to changes in site plan. o Adherence to environmental regulations (local, state and federal), as well as compliance with local and county ordinances and development requirements, including: ▪ Xxxxxxx Springs Business Park Zoning ordinance ▪ Xxxxxx County Tree Ordinance ▪ Stormwater designed to meet 100-year flood ▪ No buildings constructed within 500 feet of Old Mill Road ▪ 50% impervious surface limit, plus perform additional hydrology studies ▪ Consideration of outdoor lighting design in coordination with Hard Labor Creek Observatory.
Sample 1
Economic Development Agreement. The City and the Developer shall execute and deliver the Economic Development Agreement providing for the Income Tax Incentive. The Economic Development Agreement will be in the customary form required by the City.
Sample 1
Economic Development Agreement. The Commission, Kite Xxxxxx, the Town of Whitestown, Indiana and Little League Baseball, Inc. (“LLB”), entered into an Amended and Restated Economic Development Agreement dated , 2019 (“Economic Development Agreement”), wherein the Commission has agreed to allow Kite Xxxxxx immediate access to the Property in order to address potential additional site development costs and begin preliminary site development work for the development of the LLB Property and Mixed Used Property (as defined in the Economic Development Agreement).
Sample 1
Economic Development Agreement. 29.01 The parties agree that, as a condition of this Amendment, MUNICIPALITY and PURVEYOR have entered into the Economic Development Agreement, a form of which is attached to this Amendment.
Sample 1
Economic Development Agreement. The Company agrees to perform all material matters provided by the Economic Development Agreement to be performed by the Company and to comply with all material provisions of the Economic Development Agreement applicable to the Company. The Issuer agrees to perform all material matters provided by the Economic Development Agreement to be performed by the Issuer and to comply with all material provisions of the Economic Development Agreement applicable to the Issuer.
Sample 1
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Economic Development Agreement. Update: The EDA was amended on September 26, 2023, to reflect developments since the EDA was originally signed. Work continues on this state-of-the-art manufacturing facility, which will bring historic job and investment opportunities benefiting the local community and State. The closing date is expected to be on or around November 1, 2023. The Economic Development Agreement (EDA) is similar to previous major projects such as Kia, Takeda (formerly Xxxxxx), and SK Innovation, in which state and local incentives focused on speed-to-market solutions. However, this EDA is more stringent on clawbacks than any of those earlier projects. Taxpayers are protected by Georgia’s transparent economic development process. Georgia’s Constitution requires that there be a balanced budget every year, and unlike some competitor states, does not allow cash grants directly to companies. Instead, the state puts dollars into project solutions to aid in speed-to-market for companies. The EDA requires that the Rivian project follow locally required standards which are outlined in greater detail below. Additional state and federal permitting must be fulfilled in the months ahead, along with other site development factors. Rivian Commitments o Update: When the updated EDA was signed on September 26, 2023, the performance period date was extended from December 31, 2028, to December 31, 2030, to account for changes to the construction timeline due to pending litigation. Minimum of $5 billion investment and creation of 7,500 full-time jobs by December 31, 2030, and continued maintenance of the jobs through 2047. Rivian has to make repayments to the state and JDA in any year in which its maintenance is below 80%. o PILOT payments (see above). o Payment for overages on costs relating to additional grading work. o Adherence to environmental regulations (local, state and federal), as well as compliance with local and county ordinances and development requirements, including: ▪ Xxxxxxx Springs Business Park Zoning ordinance. ▪ Walton County Tree Ordinance. ▪ Stormwater designed to meet 100-year flood. ▪ No buildings constructed within 500 feet of Old Mill Road. ▪ 50% impervious surface limit, plus perform additional hydrology studies. ▪ Consideration of outdoor lighting design in coordination with Hard Labor Creek Observatory.
Sample 1

Related to Economic Development Agreement

  • Economic Development 1. The Parties aim to promote balanced economic growth, poverty reduction and the reduction of social-economic disparities.

  • Development Agreement As soon as reasonably practicable following the ISO’s selection of a transmission Generator Deactivation Solution, the ISO shall tender to the Developer that proposed the selected transmission Generator Deactivation Solution a draft Development Agreement, with draft appendices completed by the ISO to the extent practicable, for review and completion by the Developer. The draft Development Agreement shall be in the form of the ISO’s Commission-approved Development Agreement for its reliability planning process, which is in Appendix C in Section 31.7 of Attachment Y of the ISO OATT, as amended by the ISO to reflect the Generator Deactivation Process. The ISO and the Developer shall finalize the Development Agreement and appendices as soon as reasonably practicable after the ISO’s tendering of the draft Development Agreement. For purposes of finalizing the Development Agreement, the ISO and Developer shall develop the description and dates for the milestones necessary to develop and construct the selected project by the required in-service date identified in the Generator Deactivation Assessment, including the milestones for obtaining all necessary authorizations. Any milestone that requires action by a Connecting Transmission Owner or Affected System Operator identified pursuant to Attachment P of the ISO OATT to complete must be included as an Advisory Milestone, as that term is defined in the Development Agreement. If the ISO or the Developer determines that negotiations are at an impasse, the ISO may file the Development Agreement in unexecuted form with the Commission on its own, or following the Developer’s request in writing that the agreement be filed unexecuted. If the Development Agreement is executed by both parties, the ISO shall file the agreement with the Commission for its acceptance within ten (10) Business Days after the execution of the Development Agreement by both parties. If the Developer requests that the Development Agreement be filed unexecuted, the ISO shall file the agreement at the Commission within ten (10) Business Days of receipt of the request from the Developer. The ISO will draft, to the extent practicable, the portions of the Development Agreement and appendices that are in dispute and will provide an explanation to the Commission of any matters as to which the parties disagree. The Developer will provide in a separate filing any comments that it has on the unexecuted agreement, including any alternative positions it may have with respect to the disputed provisions. Upon the ISO’s and the Developer’s execution of the Development Agreement or the ISO’s filing of an unexecuted Development Agreement with the Commission, the ISO and the Developer shall perform their respective obligations in accordance with the terms of the Development Agreement that are not in dispute, subject to modification by the Commission. The Connecting Transmission Owner(s) and Affected System Operator(s) that are identified in Attachment P of the ISO OATT in connection with the selected transmission Generator Deactivation Solution shall act in good faith in timely performing their obligations that are required for the Developer to satisfy its obligations under the Development Agreement.

  • Staff Development ‌ The County and the Association agree that the County retains full authority to determine training needs, resources that can be made available, and the method of payment for training authorized by the County. Nothing in this subsection shall preclude the right of an employee to request specific training.

  • Program Development NWESD agrees that priority in the development of new applications services by XXXXX shall be in accordance with the expressed direction of the XXXXX Board of Directors operating under their bylaws.

  • Staff Development Leave (a) An employee shall be granted leave without loss of pay, at her basic rate of pay, to take courses (including related examinations), conferences, conventions, seminars, workshops, symposiums or similar out-of-service programs, at the request of the Employer. The amount of pay received by an employee shall not exceed the full-time daily hours of work as outlined in Article 14.2. When such leave is granted, the Employer shall bear the full cost, including tuition fees, entrance or registration fees, laboratory fees, and course-related books. The Employer shall also reimburse the employee for approved travelling, subsistence, and other legitimate, applicable expenses.

  • Design Development Documents See Section 2, Part 1, Article 2.1.5.

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