Common use of Grant of TIF Funds Clause in Contracts

Grant of TIF Funds. Grants for reimbursement of the cost of certain Public Enhancements pursuant to the Redevelopment Agreement shall be made upon a showing satisfactory to the Urban Development Director of the City that the Public Enhancements for which reimbursement is requested is entirely complete and that all persons having performed labor or furnished materials, equipment or supplies for such work have been paid and given lien waivers in exchange for payment. City may, in its discretion withhold up to ten percent of the reimbursement for each category of improvement until completion of the entire Redevelopment Project and issuance of the Certificate of Completion of Private Improvements.

Grant of TIF Funds. Grants for reimbursement of the cost of certain Redeveloper Public Enhancements Improvements pursuant to the Redevelopment Agreement shall be made upon a showing satisfactory to the Urban Development Director of the City that the Redeveloper Public Enhancements Improvements for which reimbursement is requested is entirely complete and that all persons having performed labor or furnished materials, equipment or supplies for such work have been paid and given lien waivers in exchange for payment. City may, in its discretion withhold up to ten percent of the reimbursement for each category of improvement until completion of the entire Redevelopment Project and issuance of the Certificate of Completion of Private Improvements.