Property Tax Abatement. The abatement of property taxes imposed pursuant to NRS chapter 361 shall be equal to 55 percent of the taxes on real and personal property payable by Owner on the Facility each year. This abatement shall commence Not Applicable and shall terminate on Not Applicable.
Property Tax Abatement. Owner shall be eligible to apply for tax abatement for the Minimum Improvements under the City’s Urban Revitalization Plan, or any amendment thereto; provided, however, that the Project will only receive the tax exemption offered under the City’s Urban Revitalization Plan if the Property otherwise qualifies under the terms of the Urban Revitalization Plan and tax exemption for the Project is approved pursuant to the applicable application process.
Property Tax Abatement. At NSC's reasonable request, EES Coke shall diligently pursue, with NSC's cooperation, the transfer to EES Coke of the Certificate and Abatement Agreement (each as defined in the Coke Sales Agreement) relating to the Coke Battery in effect on the Closing Date and will use its commercially reasonable efforts to amend such Certificate and Abatement Agreement concerning the forgiveness of any obligation of NSC to repay to the taxing jurisdictions the tax abatement benefits for the last four (4) years of the twelve (12) years covered by such Certificate to the extent the Parties agree that such an amendment is in the best interests of NSC. In addition, at NSC's request, EES Coke shall, with NSC's cooperation, diligently contest any action of a Governmental Authority seeking to increase (or to prevent the reduction of) property taxes relating to the Coke Battery and, where reasonable grounds exist to do so, diligently pursue all lawful means to obtain a reduction of such property taxes. Notwithstanding the foregoing, EES Coke shall not be obligated to pursue such matters unless NSC agrees to reimburse EES Coke for the reasonable costs and expenses (including reasonable attorneys' fees) incurred by EES Coke in connection with such actions.
Property Tax Abatement. City agrees to assist in good faith in obtaining all local and state property tax abatement options that are available or can be made available through City action.
Property Tax Abatement. DIG shall use all reasonable efforts to obtain a property tax abatement or otherwise minimize the amount of property tax payable on the Project. Reasonable efforts shall mean that level of effort normally exercised by entities similarly situated to DIG for projects of like kind to the Project. ROUGE shall provide reasonable assistance to DIG in seeking to obtain such abatement or adjustment. The rates in Appendix F are derived from the base property tax amounts shown in Exhibit E. In the event that the property tax payable by DIG and related to the Project (as currently defined) differs from the amount shown in Exhibit E, DIG shall include the prorated overage or underage based on the formula shown in Exhibit E in the next invoice prepared in accordance with Section 9 as either an additional charge or credit.
Property Tax Abatement. Developer acknowledges that qualification for property tax abatement through the City’s urban revitalization program will require the submission of a separate application as described in the program documents for the urban revitalization area.
Property Tax Abatement. Once any portion of the Subject Property is developed and occupied by a third party tenant for its business operations (the “Trigger Date”), in the event that such development creates ten or more jobs and otherwise qualifies for tax abatement under Illinois law then all real estate taxes levied against such areas of the Subject Property by the City shall be abated in the amount of 90% of such tax in the first full year after the Trigger Date and in the amount of 75% for the second full year after the Trigger Date. SECTION 20 FEES; DEVELOPMENT CODES; LIMITATION ON SPECIAL SERVICE AREA CREATION; CHANGES TO CODES.
(a) For a period of five years, there will be no increases in the City’s current fees for building permits, plan review, water and sewer tap-ons and similar fees. Thereafter, Owner shall pay such fees as are in existence at the time of any development, provided such fees are of general applicability to all other owners of industrial property in the City.
(b) Without the consent of the Owner, City shall take no action to designate any portion of the Subject Property remaining undeveloped or in its current state of development as a Special Service Area for purposes of financing public improvements. Other than as normally levied against all other property in the City, the City acknowledges that it shall assess no additional fees to the Subject Property for the provision of police and fire protection services. No impact fees are or will be due and owing as to the development of the Subject Property.
(c) The City agrees that after the date of this Annexation Agreement it shall take no action without the consent of the Owner of the applicable property (which may be withheld in such Owner’s sole discretion) to amend the zoning of the Subject Property, the Comprehensive Plan or the subdivision plan or to otherwise to take any action that would materially reduce the benefits and rights granted to the Owner under this Agreement.
(d) The City acknowledges and agrees that no portion of the City’s or IRE’s costs relating to road or utility improvements shall be subject to recapture relating to the Subject Property.
Property Tax Abatement. Please indicate the degree of property tax abatement, if any, being sought through the issuance of Chapter 100 bonds. Cerner Properties is requesting 100% real estate tax abatement for the first 15 years and 50% real estate tax abatement for the next 10 years. Although the Applicant expects to invest $15,000,000 in personal property for this project, no personal property tax abatement is requested.
Property Tax Abatement. Section 19 of the Annexation Agreement is hereby deleted in its entirety and replace with the following: “The City agrees to cause the Exchange Property to enjoy the standard tax abatement plan provided by the City to other industries which plan is described on Schedule 5, attached hereto and made a part hereof. The City further agrees to work with IRE and utilize its best efforts to obtain approval of the abatements described on Schedule 5 from other taxing districts not already a part of the plan, if any. The tax abatement plan shall commence upon the first day of the first full calendar year following completion of the Ethanol Production Facility and the commencement of Ethanol Production. The provisions of the preceding sentence are intended to permit IRE to receive the full benefit of the abatement by deferring any abatement until the first day of the first calendar year following completion of the Ethanol Production Facility.”
Property Tax Abatement. Section 3.1. Status of Development Property 7 Section 3.2. Environmental Conditions 7 Section 3.3. Minimum Improvements 7 Section 3.4. City Property Tax Abatement 7 Section 3.5. County Property Tax Abatement 8 Section 3.6. Payment of Administrative Costs 9 Section 3.7. Records 9 Section 3.8. Business Subsidy Agreement 9
