Infrastructure Financing. In recognition of the extraordinary public infrastructure costs associated with development of the Project, including, without limitation, the Public Improvements, the Town and JAC have agreed to the establishment of certain mechanisms between the public and private sectors to accomplish the financing of the infrastructure contemplated by the Annexation Agreement. Such mechanisms as set forth in the Service Plan are hereby incorporated by reference.
Infrastructure Financing. 6.1. The Developer desires that development of the Property pursuant to this Agreement provides positive economic benefits to the Cities and their residents by, among other things, increasing property tax and other revenues to the community based on improvements to be constructed on the Property. This Agreement is subject to MS City and FW City entering into an interlocal agreement for distribution of tax revenues and certain fees realized from the Project. The Parties also agree to use reasonable efforts to employ the financing mechanisms set forth in Title 17C or Title 17D of the Utah Code.
Infrastructure Financing. If Property Owner undertakes public infrastructure financing, such as Xxxxx-Xxxx or community facilities districts, the City will cooperate fully in such endeavors and will process any related applications as expeditiously as possible.
Infrastructure Financing. In recognition of the extraordinary public infrastructure costs associated with development of the Project, including, without limitation, the Public Improvements, the Town and JAC have agreed to the establishment of certain mechanisms between the public and private sectors to accomplish the financing of the infrastructure contemplated by the Annexation Agreement. Such mechanisms as set forth in the Service Plan are hereby incorporated by reference. Commented [MR1]: Xxxx asked whether the change regarding impervious surfaces was required by the Town. This comment appeared in Section 7 of the Town's redlined Development Guide Agreement: "Please add somewhere in here that impervious pavers are discouraged and shall not count toward any open space requirement when used." See the revisions I have made to address your comments. Let me know if you were thinking something else.
Infrastructure Financing. On July 14, 2008, the Town adopted a revised Policy Statement relating to Municipal Improvement Districts (the “MID Policy Statement”) to finance certain in infrastructure improvements, such as the Kanawha Farms Infrastructure Improvements, within the Town limits. The current version of the MID Policy Statement shall be applicable to the development of the Property during the Term. It is the Town’s intention as of the Agreement Date to make available Municipal Improvement District (“MID”) financing to the Developer pursuant to South Carolina law and consistent with the MID Policy Statement to finance, to the extent legally permissible, costs of the project’s infrastructure improvements and certain off-site infrastructure improvements. In that regard, the Town shall give good faith consideration to the Developer’s request that the Town utilize MID financing to pay costs of the project’s infrastructure improvements and costs of infrastructure improvements situated outside of the Property (including roads and water and sewer transmission facilities and treatment facilities and pump stations for water and sewer capacity as permitted by law). Such good faith consideration is dependent, however, upon the satisfaction of applicable portions of the MID Policy Statement, as well as other applicable statutory requirements, being met, upon the Town incurring no general obligation for the bonds to be issued to implement the improvement plan(s) for the MID(s) and upon the Developer paying (or reimbursing) all direct expenses incurred by the Town in connection with any MID(s) requested by the Developer (e.g. , engineering studies and costs, attorneys’ fees, MID administrative costs, etc.). Further, until sufficient details are provided by the Developer to the Town to allow the Town to adequately analyze the appropriateness of using MID financing bonds to fund particular portions or components of the project’s infrastructure improvements and/or infrastructure improvements situated outside of the Property, the Town is not in a position to approve such use of MID financing bonds, and nothing in this Agreement shall be deemed or construed as a commitment or pre-approval by the Town to so approve such use of MID financing bonds, such financing being in the sole discretion of the Town at the time application for such financing is made by the Developer.
Infrastructure Financing. Subject to Developer’s compliance with all applicable laws, including, but not limited to, any required vote of affected property owners, and further subject to reimbursement of its costs by Developer, the City shall cooperate with the Developer in the establishment of a Community Facilities District, Municipal Services District or a similar financing mechanism should Developer, in its sole discretion, choose to establish such a district.
Infrastructure Financing. The parties hereto shall cooperate in considering, and if necessary to finance development of the Project, establishing a financing district in accordance with the Xxxxx-Xxxx Community Financing Act of 1982, or equivalent financing provisions authorized by law, for financing the Developer’s obligations to construct public infrastructure improvements in conjunction with the Project.
Infrastructure Financing
