Common use of Payment of City's Costs/Administrative Fee Clause in Contracts

Payment of City's Costs/Administrative Fee. Section 8.1 of the Agreement requires that the Developer will pay the City's costs for negotiating this agreement and implementing the TDD. More specifically, it provides for an Administrative Fee in an amount equal to the greater of $5,000 or 1% of the TDD Sales Tax collected during any year of the Agreement on an ongoing basis.

Payment of City's Costs/Administrative Fee. Section 8.1 10.01 of the Agreement requires that the Developer will pay the City's costs for negotiating this agreement and implementing the CID and TDD. More specifically, it provides for (i) an Administrative Fee of 1% of the par amount of any CID Bonds issued for the Project, and (ii) an Administrative Fee in an amount equal to the greater of $5,000 or 1% of the TDD Sales Tax collected during any year of the Agreement on an ongoing basis.

Payment of City's Costs/Administrative Fee. Section 8.1 of the The Agreement requires provides that the Developer will pay the City's costs for negotiating this agreement and implementing the TDD. More specifically, it It also provides for an a TDD Administrative Fee in an amount equal to the greater of $5,000 or 1% of the TDD Sales Tax collected during any year of the Agreement on an ongoing basisAgreement.