Economic Incentive. (a) Subject to the terms and conditions contained in this Agreement and subject to the Owner’s compliance with this Agreement, the City shall pay the Owner a Chapter 380 Reimbursement equal to the amount of increase Added Taxable Value up to $5,000 (the “Reimbursement”). The reimbursement (incentive payment) shall be paid in the tax year following the tax year in which a certificate of occupancy is issued for the Improvements; provided that (1) a minimum of $5,000 in Added Taxable Value has been added to the Property; (2) Owner is in compliance with Section 1; (3) the Owner has certified in writing on the form provided by the City that the Owner is in compliance with the terms and conditions of this Agreement; and (4) the owner has provided the city the following documents for reimbursement:
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. 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. 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.
