Qualified Expenditures. The words “Qualified Expenditures” mean those expenditures which consist of the construction of the Infrastructure Improvements; and those expenses which otherwise meet the definition of “project” as that term is defined by Sections 501.103, and 505.158 of the Act, and the definition of “cost” as that term is defined by Section 501.152 of the Act.
Qualified Expenditures. Developer covenants and agrees to submit to the BCDC invoices, receipts, or other documentation in a form acceptable to the BCDC for the Qualified Expenditures made to the Property in a minimum amount of Fifty-Five Thousand and No/100 Dollars ($55,000.00) by December 31, 2023.
Qualified Expenditures. The words “Qualified Expenditures” mean those expenditures consisting of and contributing to the reimbursement the cost of business interruption caused by required closures. This can include supplies, working capital, inventory, physical changes to structure to accommodate meet health requirements due to COVID-19 restrictions, rent, lease or mortgage payments for business purposes, or rent, lease, or purchase payment for business property. Expenditures for which Paycheck Protection Program funds were utilized are not Qualified Expenditures.
Qualified Expenditures. The TIF Incentive shall only fund, in order of priority:
a) Public Improvements, as defined in Section II. N., and environmental remediation, and asbestos abatement as required by State and Federal law; then
Qualified Expenditures. Developer covenants and agrees to commence construction of the Qualified Expenditures within 120 days of the EDC’s completion of the road and utilities leading to the Property. Further, Developer covenants and agrees to complete construction of an office and retail building within twelve (12) months of the City of Xxxxxx’x completion of the road and utilities leading to the Property.
Qualified Expenditures. Project Grant(s) shall be disbursed in the following priority, and only fund:
a) Public Improvements, if applicable, as defined in Section II. N., and environmental remediation, and asbestos abatement as required by State and Federal law; then
Qualified Expenditures. The TIF Incentive shall only fund, in order of priority:
a) Public Improvements, as defined in Section II. L.; then
b) “Private Improvements”, including:
(I) Environmental remediation, and asbestos abatement as required by State and Federal law;
(II) Building demolition and site clearing; and
(III) Stormwater management facilities and related improvements; and
(IV) Building foundations, paving, landscaping and related site improvements; and
(V) Building superstructure, including core and shell.
c) Any other activity specifically approved by the City or RDA.
Qualified Expenditures. Failure of Owner to prove to the PEDC that it has timely paid the minimum amount of Qualified Expenditures shall entitle the PEDC to require Owner to pay to the PEDC $50 per day for each day after the deadline for such proof as set forth in Section 4.(a) of this Agreement until such proof is sufficiently submitted. Said payments will not be considered as a penalty, but shall be deemed, taken and treated as reasonable liquidated damages per day that such a failure of compliance shall exist or occur. The said amounts are fixed and agreed upon by the parties because of the impracticability and extreme difficulty of fixing and ascertaining the actual damages the PEDC in such event would sustain; and said amounts are agreed to be the amounts of damages which the PEDC would sustain.
Qualified Expenditures. The TIF Incentive available to Developer under this Agreement shall be disbursed in the following priority, and only fund:
a) Public Improvements, as defined in Section II. X., and environmental remediation, and asbestos abatement as required by State and Federal law; then
Qualified Expenditures. The words “Qualified Expenditures” mean those expenditures made towards the Activity, Program or Event consisting of the following: advertising, solicitations, promotional programs to attract tourists and convention delegates; sporting event expenses that substantially increase economic activity at hotels; and those expenses which are otherwise eligible for funding with the Local Hotel Occupancy Tax Revenue pursuant to the Act.
