Overlapping TIDs. It is understood by the parties that the boundaries of the TID may overlap the boundaries of other tax increment districts. Any increments generated from areas within overlapping districts will be used to pay for the improvements in the districts based on the chronological order in which the districts were created. Only after the disbursements required of the City in the project plans or developer’s agreements for any previously-created districts have been satisfied will the City have a duty to disburse funds under this Agreement which were generated in areas that are part of previously-created overlapping districts.
Appears in 4 contracts
Samples: Contract for Construction, Contract for Construction, Contract for Construction
