Local Improvement Charges Sample Clauses

The Local Improvement Charges clause defines the responsibility for paying charges levied by a municipality for improvements that benefit a specific property, such as new sidewalks, street lighting, or sewer upgrades. Typically, this clause specifies whether the buyer or seller is responsible for any outstanding or future local improvement charges at the time of property transfer. Its core function is to clearly allocate financial responsibility for these municipal charges, preventing disputes and ensuring both parties understand their obligations regarding property-related improvements.
Local Improvement Charges. There are no Local Improvement charges assessed or outstanding for the Lands.
View SourceView Similar (2)
Local Improvement Charges. ‌ Municipalities are uniquely able to offer financing tied to a property using a Local Improvement Charge (LIC) mechanism under the Municipal Act (2001). This mechanism is often referred to as Property Assessed Clean Energy, or PACE, in the United States. In 2012, the Ontario Ministry of Municipal Affairs and Housing authorized Ontario Regulations 322/12 and 323/12, amending O.Regs. 586/06 and 596/06 under the Municipal Act, 2001 to: • Expand the uses to include energy efficiency, renewable energy and water conservation in alignment with municipal goals and policies; • Remove the burdensome LIC set-up barriers since participation is voluntary; • Remove the right to petition or appeal against or in favour of this type of LIC; • Include a user-pay method that covers all municipal costs including marketing, interest, and administration; • Include repayment to the municipality as a temporary charge on the property tax bill that stays with the property not the owner; and • Allow the owner to make lump payments to clear the outstanding balance. Through an LIC program, municipalities can: • Enable property owners to improve the comfort and environmental performance of their buildings; • Target areas in transition or in need of repair, rehabilitation and redevelopment; • Support appropriate building upgrades through expert advice and oversight; • Stimulate private investment in property upgrades that reduce energy cost exposure to residents and businesses; and • Stimulate local job creation in the contractor, trades, and renovation sectors Participation is voluntary and only affects one property. To date, programs using LICs or similar mechanisms have been offered in 14 Canadian municipalities and 36 American states to finance green technologies or improvements in homes and commercial buildings. Experience in other municipalities has shown that LIC programs drive energy efficiency improvements of approximately 30% in participating buildings per retrofit. Although this is not enough to meet the 64% energy reduction target set for residential buildings in Ottawa under the Energy Evolution Strategy, it is a good start that can be improved upon over time. Existing LIC programs have been successful by helping overcome some of the most significant barriers to deep energy retrofits of homes including: • Ownership term uncertainty and long payback period – Home ownership in Ottawa is approximately 7yr whereas retrofits often have a 10 to 20-year payback period, so longer ...
View SourceView Similar (2)
Local Improvement Charges. The Developer agrees to commute and pay all charges, including the Towns’ share, made with respect to the Local Improvement Act which are assessed against the Lands before or at the time of execution of this Agreement, as set out in Schedule “D” to this Agreement.
View Source
Local Improvement Charges. As of the Closing Date, there will be no unpaid local improvement charges, development charges or special levies outstanding against the Property.
View Source

Related to Local Improvement Charges

  • School Improvement The parties do hereby mutually agree that the school improvement process currently in effect will continue. Any plan developed by the committees shall not be in conflict with the master agreement or board policy.

  • Lessee's Improvements Since Lessor is the Insuring Party, Lessor shall not be required to insure Lessee-Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease.

  • Landlord Improvements Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) As of November 4, 2011, after consultation with Tenant, Landlord has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Landlord Improvements (such plans and specifications, as amended in accordance with the provisions of this Rider 101, are hereafter called “Plans and Specifications”). (b) The Plans and Specifications have been accepted by both Tenant and Landlord, the Plans and Specifications are incorporated herein by reference and made a part hereof for all purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page ▇▇▇▇▇▇▇▇▇▇▇ Page, LLP have been approved by both parties and shall constitute the “Plans and Specifications.” (d) Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. All bids have been opened together, with Landlord selecting the general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction not to exceed the Landlord’s Contribution.

  • Additional Improvements Common Area Operating Expenses shall not include Real Property Taxes specified in the tax assessor's records and work sheets as being caused by additional improvements placed upon the Industrial Center by other lessees or by Lessor for the exclusive enjoyment of such other lessees. Notwithstanding Paragraph 10.1 hereof, Lessee shall, however, pay to Lessor at the time Common Area Operating Expenses are payable under Paragraph 4.2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations, Trade Fixtures or Utility Installations placed upon the Premises by Lessee or at Lessee's request.

  • Lessee Improvements Lessee shall not make or allow to be made any alterations or physical additions in or to the leased premises without first obtaining the written consent of Lessor, which consent shall not be unreasonably withheld. Any alterations, physical additions or improvements to the leased premises made by Lessee shall at once become the property of Lessor and shall be surrendered to Lessor upon the termination of this Lease provided that Lessee shall be entitled to retain the property listed on Exhibit A attached hereto, and provided further that, Lessor, at its option, may require Lessee to remove any physical additions and/or repair any alterations in order to restore the leased premises to the condition existing at the time Lessee took possession, reasonable wear and tear excepted, all costs of removal and/or alterations to be borne by Lessee. This clause shall not apply to moveable equipment of furniture owned by Lessee, which may be removed by Lessee at the end of the term of this Lease if Lessee is not then in default and if such equipment and furniture are not then subject to any other rights, liens and interests of Lessor.