PAYMENTS TO THE TOWN. 18.1 The Owner shall pay to the Town a fee for the preparation of this Agreement and shall pay an administration fee as outlined in Schedule “D” attached hereto. Inspection fees are not included under this paragraph and shall be paid by the Owner in accordance with Section 4.4 herein. The Owner shall pay to the Town all legal fees associated with this Agreement. Legal fees and inspection fees will be billed to the Owner on a quarterly basis where applicable.
PAYMENTS TO THE TOWN. The Owner covenants and agrees to pay to the Town the amounts set out in Schedule “E” hereto. The Owner further acknowledges the Town's right and requirement to assess levies on all lots and blocks of this subdivision. The Owner agrees that in the event the proceeds received by the Town pursuant to Schedule “E” are not required, or likely to be required wholly, or in part, by reason of the Owner undertaking this subdivision, such proceeds may then be expended for such other general or specific purposes that the Town shall, at its absolute discretion, determine.
PAYMENTS TO THE TOWN. The Developer shall pay to the Town an annual administrative fee equal to 1/2% of the Tax Increment paid by the Town to the Developer pursuant to this Agreement in the year in question, which payment shall be made in equal installments each year in the form of a setoff on the same dates as the Tax Increment for that year is paid by the Town to the Developer.
PAYMENTS TO THE TOWN. 1. Beginning on the later of July 15, 2017 or ninety (90) days after the Opening and annually on such date thereafter for so long as the Gaming License shall continue in effect, the Developer shall pay an amount equal to Two Million Dollars ($2,000,000) as a Community Impact Fee, as contemplated by Section 15(9) of Chapter 23K. The Community Impact Fee shall be paid as follows:
a. An annual payment of One Million Six Hundred Thousand Dollars ($1,600,000.00) to a special fund, trust, or other vehicle created by the Town in its sole discretion for the purpose of holding monies received from the Developer (“the Mitigation Trust”). None of the payments received by the Town pursuant to this Agreement shall be deposited in the Town’s general fund. Funds in the Mitigation Trust shall be used solely for mitigation of impacts on the Town from the development or operation of the Project. In particular, the funds in the Mitigation Trust are to be used as follows:
i. At least Two Hundred Fifty Thousand Dollars ($250,000) annually for recreational capital projects, including, but not limited to, the completion of the Town’s “harbor-walk”;
ii. At least Four Hundred Thousand Dollars ($400,000) annually for the Town’s police department, for such expenses as two additional police shifts from 8:00 AM to 4:00 PM;
iii. At least Three Hundred Fifty Thousand Dollars ($350,000) for the Town’s fire department;
iv. At least Five Hundred Thousand Dollars ($500,000) to the Town’s public school system;
v. At least One Hundred Thousand Dollars ($100,000) annually to be used as a subsidy for the Town’s water ferry service, provided, however, that in the event that the Town no longer operates or subsidizes a water ferry service, the funds allocated to the water ferry shall be dedicated to the purposes provided for in Section 2.B.1.a(vi); and
vi. The remaining balance of the annual payment to the Mitigation Trust, if any, and any balance in the Mitigation Trust carried over from prior years, may be used and applied in the Town's sole discretion and determination toward any infrastructure improvement, Town service, and/or other measure, project or cost undertaken or incurred to mitigated impacts of the Project;
b. An annual payment of One Hundred Thousand Dollars ($100,000) to the Viking Pride Foundation, or a similar organization in event Viking Pride Foundation ceases to exist, to be used as funding for supplemental youth programs in the Town;
c. An annual payment of One Hundred Thousan...
PAYMENTS TO THE TOWN. A. Within ten (10) business days after all of the conditions set forth in Sections IV(B)(1) through IV(B)(4) have been satisfied for a PIIP to be funded under this Agreement, and provided that TPT funds identified under A.R.S. § 42-5075(H) are available, ADOR shall provide written notice to the State Treasurer, with a copy to the Town, to begin making payments to the Town under this Agreement.
B. ADOR shall not instruct the State Treasurer to begin making payments to the Town under this Agreement until each of the following conditions has been met:
1. XXXX has received a cost report demonstrating that ES has made ten percent (10%) of the Capital Investment identified in the Certification that constitutes Construction Phase Services.
2. ADOR has received documentation from the Town that it has entered into a contract for a PIIP to be funded under this Agreement.
3. XXXX has received all of the information to be provided under Addendum B for a PIIP.
4. At least one Prime Contractor or other service provided has been identified, and all of the information required to be provided for that Prime Contractor or other service provided under Addendum B-1, has been provided for a PIIP. Payments to the Town for any Prime Contractor, other service provider, or other Town expense identified in Addendum B-1 shall not exceed eighty percent (80%) of the construction cost, contract cost, or other expense as set forth in Addendum B-1.
C. The total amount paid to the Town for any PIIP under this Agreement shall not exceed:
(a) eighty percent (80%) of the total cost of the PIIP as set forth in Addendum B or (b) the Statutory Maximum for payments to all cities, towns, and counties under A.R.S. § 42- 5032.
PAYMENTS TO THE TOWN. In consideration of the Town's agreements hereunder, NEWS agrees to make the following payments:
(a) NEWS shall pay to the Town the sum of five hundred thousand dollars ($500,000), of which one hundred thousand dollars ($100,000) shall be paid upon the Effective Date, and the remaining four hundred thousand dollars ($400,000) shall be paid upon written request of the Town; provided that, in any event, such four hundred thousand dollars ($400,000) shall be paid by the tenth anniversary of the Effective Date.
(b) NEWS will pay to the Town the greater of (i) Eight and one-half percent (8.5%) of Net Revenues or (ii) One million one hundred thousand dollars ($1,100,000) per 12-month period (the "Annual Royalty Payment") during which there is Permitted Capacity at the Landfill, commencing on the date on which NEWS first accepts Acceptable Waste at the Landfill pursuant to this Agreement. The Annual Royalty Payment due for any period at the end of the term of this Agreement that is less than 12 months, shall be prorated. Payment pursuant to this Section 2.2(b) will be made within 30 days following the end of the 12-month period to which such payment relates. NEWS agrees to post a letter of credit or other bond reasonably acceptable to the Town in the amount of $1,100,000 to secure the amount payable pursuant to this subparagraph (b), which such letter of credit or bond shall be renewable annually. Notwithstanding the foregoing, the Town acknowledges that the Annual Royalty Payment is based on an assumption of Permitted Capacity based on 500 Tons per day, and such Annual Royalty Payment shall be reduced on a pro rata basis to the extent that actual Permitted Capacity is less than such amount for any portion of the period covered by the payment.
PAYMENTS TO THE TOWN. Minimum acceptable licensee fee shall be $2,500 per month. Upon acceptance of a proposal, by the Board of Selectmen, execution of the license agreement, and receipt of payment for the entire Year 1, license fee, licensee may then proceed with construction of improvements on the Right of Way. Subsequent license payments shall be due monthly, on the dates specified in the License Agreement.
PAYMENTS TO THE TOWN. The Company shall pay to the Town an annual administrative fee equal to 1/2% of the Tax Increment paid by the Town to the Company pursuant to this Agreement in the year in question, which payment shall be made in equal installments each year in the form of a setoff on the same dates as the Tax Increment for that year is paid by the Town to the Company.
PAYMENTS TO THE TOWN. The Owner covenants and agrees to pay to the Town the amounts set out in Schedule “F” hereto. The Owner further acknowledges the Town’s right and requirement to assess levies on all lots and blocks within the plan of subdivision. The Owner agrees that in the event the payments received by the Town pursuant to Schedule “F” are not required, or likely to be required wholly, or in part, by reason of the Owner undertaking the development of the plan of subdivision, such proceeds may then be expended for such other general or specific purposes as the Town shall, at its absolute discretion, determine.
PAYMENTS TO THE TOWN. The Owners agree to pay to the Town the amounts set out in Schedule “F” hereto. The Owners agree that in the event the proceeds received by the Town pursuant to Schedule “F” are not required, or likely to be required wholly, or in part, by reason of the Owners undertaking this development, such proceeds may then be expended for such other general or specific purposes that the Town shall, at its absolute discretion, determine.
