Common use of Grant of Funds from TIF Bond Proceeds Clause in Contracts

Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Skate Zone Redevelopment Project and as an inducement for Redeveloper to construct the Private Improvements, the City agrees to the extent allowed by law and then only to the extent proceeds are lawfully available from issuance of the TIF Bond (“TIF Bond Proceeds”), to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Priority Expense items set forth on Exhibit “B.” In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Private Improvements has been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the Private Improvements and Public Enhancements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 Redeveloper Priority Expenses.

Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Skate Zone Redevelopment NIC Phase II Project and as an inducement for Redeveloper to construct the Private Improvements, the City agrees to the extent allowed by law and then only to the extent proceeds are lawfully available from issuance of the TIF Bond (“TIF Bond Proceeds”), to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Priority Expense items set forth on Exhibit “B.” In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Private Improvements has been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the Private Improvements and Public Enhancements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 Redeveloper Priority Expenses.

Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Skate Zone Redevelopment 1222 P Street Project and as an inducement for Redeveloper to construct the Private Improvements, the City agrees to the extent allowed by law and then only to the extent proceeds are lawfully available from issuance of the TIF Bond (“TIF Bond Proceeds”), to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Section 503 First Priority Expense items set forth on Exhibit “B.” items, and thereafter to reimburse Redeveloper for the cost of the Section 503 Second Priority Expense items. In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Private Improvements has been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the Private Improvements and Public Enhancements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 Redeveloper Priority Expenses.

Grant of Funds from TIF Bond Proceeds. X. Xxxxx of Funds from TIF Bond Proceeds. In order to support redevelopment of this Skate Zone Huvepharma Redevelopment Project and as an inducement for Redeveloper to construct the Private Improvements, the City agrees to the extent allowed by law and then only to the extent proceeds are lawfully available from issuance of the TIF Bond (“TIF Bond Proceeds”), to pay on behalf of or make a grant of funds (“Grant Funds”) to the Redeveloper, up to the total amount of the TIF Bond Proceeds, to reimburse Redeveloper for the cost of the Priority Expense items set forth on Exhibit “B.” In order to receive reimbursement from Grant Funds the Redeveloper shall submit authentic and satisfactory documentation to the City to verify the Private Improvements has have been substantially completed and that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s Contractor, and his or her Subcontractors with labor or materials used in prosecution of the Private Improvements and Redeveloper Public EnhancementsImprovements. The City shall maintain a record of all expenditures of the TIF Bond Proceeds to determine the total amount of TIF Bond Proceeds expended on Section 503 403 Redeveloper Priority Expenses.