Common use of Economic Incentive Clause in Contracts

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. (a). ) Subject to the terms and conditions contained in this Agreement and subject to the CompanyOwner’s compliance with this Agreement, the City shall pay the Company Owner a Chapter 380 Reimbursement equal to the amount of increase in Added Taxable Value up to $10,000 5,000 (the “Reimbursement”). The Reimbursement 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: that (1) an auto repair business is operating on the Property; (2) a minimum of $10,000 of 5,000 in Added Taxable Value has been added to the Property; (32) the Company Owner is in compliance with Section 1; (43) and the Company Owner has certified in writing on the form provided by the City that the Company Owner is in compliance with the terms and conditions of this Agreement; and (54) the Company 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 value up to $10,000 5,000 (the “Reimbursement”). The Reimbursement reimbursement shall be paid the tax year following the tax year in which a certificate of occupancy is issued for the Improvements; provided that: that (1) an auto repair business the Business is operating on the Property; (2) a minimum of $10,000 243,121 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 company has provided the city the following documents for reimbursement: