Economic Incentive. (a). Subject to the terms and conditions contained in this Agreement and subject to the Company’s compliance with this Agreement, the City shall pay the Company a Chapter 380 Reimbursement equal to the amount of increase in Added Taxable Value up to $10,000 (the “Reimbursement”). The Reimbursement shall be paid the tax year following the year in which a certificate of occupancy is issued for the Improvements; provided that: (1) an auto repair business is operating on the Property; (2) a minimum of $10,000 of Added Taxable Value has been added to the Property; (3) the Company is in compliance with Section 1; (4) and the Company has certified in writing on the form provided by the City that the Company is in compliance with the terms and conditions of this Agreement; and (5) the Company has provided the city the following documents for reimbursement:
Economic Incentive. If the Co-op meets the annual eligibility criteria, then it shall receive an annual performance grant from the EDA in the following amounts: An amount equal to 100 percent of the local (1 percentage point) of the sales tax revenue generated at the Fredericksburg Store the first five years of its operation (Years 1-5); and An amount equal to 50 percent of the local (1 percentage point) sales tax revenue generated at the Fredericksburg Store the second five years of its operations (Years 6-10).
Economic Incentive. In consideration of Developer's development of the Property in conformity with the terms of this Agreement, the City shall provide the following economic incentive to Developer:
Economic Incentive. Intentionally Omitted.
Economic Incentive. Subject to the terms and conditions contained in this Agreement and subject to the Company’s compliance with this Agreement, the City shall pay the Company a Chapter 380 Grant an the amount equal to one dollar for every tax dollar generated as a direct result of the installation of the Improvements on the Property up to a maximum of Ten Thousand and 00/100 Dollars ($10,000.00) (the “Grant”). The Grant shall be paid within forty- five (45) days after completion and issuance of a certificate of occupancy for the Improvements and provision of the following documents; provided the Business is operating on the Property; the Company is in compliance with Section 1; and the Company has certified in writing on the form provided by the City that the Company is in compliance with the terms and conditions of this Agreement:
Economic Incentive. Subject to the terms and conditions contained in this Agreement and subject to the Company’s compliance with this Agreement, the City shall pay the Company a Chapter 380 Grant equal to the amount of increase in Added Taxable Value up to $10,000 (ten thousand dollars) (the “Grant”). The Grant shall be paid by 2025 following the tax year in which a certificate of occupancy is issued for the Improvements; provided the Business is operating on the Property; added Taxable Value has been added to the Property; the Company is in compliance with Section 1; and the Company has certified in writing on the form provided by the City that the Company is in compliance with the terms and conditions of this Agreement and the Company has provided the city the following documents for reimbursement:
Economic Incentive. Subject to the terms and conditions contained in this Agreement and subject to the Company’s compliance with this Agreement, the City shall pay the Company a Chapter 380 Grant equal to the amount of increase in Added Taxable Value up to $10,000 (ten thousand dollars) (the “Grant”). The Grant shall be paid by 2025 following the tax year in which a certificate of occupancy is issued for the Improvements; provided the Business is operating on the Property; added Taxable Value has been added to the Property; the Company is in compliance with Section 1; and the Company has certified in writing on the form provided by the City that the Company is in compliance with the terms and conditions of this Agreement and the Company has provided the city the following documents for reimbursement:
