Economic Development Incentive Grant Sample Clauses

Economic Development Incentive Grant. Beginning the first full year following stabilization of the AMLI Tower (defined as 94.25% occupancy), City will provide to AMLI six (6) consecutive annual economic development grants from the City’s ad valorem taxes actually collected by City for the applicable grant year, subject to the payment terms set forth herein and in the Master Incentive Agreement. Each year of the grant period AMLI will provide their Net Operating Income per GAAP before ground lease payments, capital expenditures, tenant improvement allowances and leasing commissions, certified by their Chief Financial Officer (the “Certified NOI”). The Certified NOI (numerator) will be divided by AMLI’s Actual Certified Construction Costs (denominator) to calculate an Annual Return on Cost (ROC) for the Project. If the Annual Return on Cost is below the ROC thresholds outlined in the schedule below, AMLI will be entitled to receive a grant not to exceed $1,600,000 each year there is a gap between the computed Actual ROC and the Required ROC threshold. The ROC thresholds for each grant year shall be: Grant Year Threshold (%) Year 1 6.91 Year 2 6.98 Year 3 7.20 Year 4 7.42 Year 5 7.45 Year 6 7.40 AMLI will be entitled to roll over any amount greater than the $1,600,000 each year to the following grant year, but in no event shall the reimbursement amount exceed $1,600,000 annually and $8,000,000 cumulatively for the entire grant period. AMLI will provide annual audited financial statements for each grant year.
Sample 1
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Economic Development Incentive Grant. As an economic development incentive grant to assist JVEP with a portion of the Project, the BEDC agrees to provide a one- time grant up to 60% of the project cost, in an amount not to exceed $275,000, to assist in covering actual reasonable costs of the Improvements to the Centre.
Sample 1
Economic Development Incentive Grant. In order to incentivize and induce CPO to make an additional $300,000 capital investment in the Project, the County Board, subject to appropriation and the terms of this Agreement, will provide the XXX Xxxxx in the amount of $200,000 to the XXX for the benefit of CPO.
Sample 1
Economic Development Incentive Grant. As an economic development incentive grant to assist Xxxxxxxx Xxxxx with a portion of the Project, the BEDC agrees to provide a one-time grant up to 70% of the project cost, in the amount not to exceed $195,000, to assist in covering actual reasonable costs of the Improvements to the Center.
Sample 1

Related to Economic Development Incentive Grant

  • Employee Development The Employer may provide employees the opportunity to participate in appropriate seminars, workshops or short courses. When possible and appropriate the Employer will provide to all staff information on seminars, workshops or short courses by posting a notice on the Employer’s internal web site.

  • Career Development The City and the Union agree that employee career growth can be beneficial to both the City and the affected employee. As such, consistent with training needs identified by the City and the financial resources appropriated therefore by the City, the City shall provide educational and training opportunities for employee career growth. Each employee shall be responsible for utilizing those training and educational opportunities made available by the City or other institutions for the self- development effort needed to achieve personal career goals.

  • Productivity Incentive In addition to the Minimum Milk Price, you will be paid a Productivity Incentive based on the total number of milk solids in your milk that you supply to DFMC each Month during the Term that complies with the Quality Standards. The Productivity Incentive will be paid at the rates set out in Item 5 of the Details.

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Continuing Professional Development 30.1.7 If, during the life of the Agreement, Continuing Professional Development (CPD) is introduced for plumbers, all time spent in complying with the CPD obligations will be the responsibility of each plumber.

  • 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.

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