Reimbursement Formula and Procedure Sample Clauses

Reimbursement Formula and Procedure. The City’s $1,500,000.00 reimbursement to the New Owner called for in Paragraph 2(a) shall be payable solely from the City’s portion of ad valorem tax revenues which are received by the City from the real property comprising the Project to the extent said tax revenues, based upon new private investment, exceed ad valorem tax revenues received by the City on the Property in the fiscal year in which the Original Agreement was executed by the City (“Increment”). Reimbursement shall be based upon the following formula: the first Two Thousand Six Hundred and No/100ths Dollars ($2,600.00) of each tax year’s Increment shall be retained by the City and one hundred percent (100%) of the remainder of the Increment for each tax year (each such payment a “Reimbursement Payment” and collectively the “Reimbursement Payments”) shall be paid to the New Owner. The first Reimbursement Payment shall not commence until (i) the New Owner provides the City with a written request to begin the Reimbursement Payment or (ii) two years after the date of completion of the Public Improvements, whichever date is earlier. Upon commencement, each Reimbursement Payment will be paid to the New Owner on or before June 30 each year, subject to annual appropriations, until such time as: (i) the certified sum of actual costs incurred by Initial Owner for the Public Improvements is reimbursed to the New Owner in full with total Reimbursement Payments not exceeding $1,500,000.00 or (ii) fifteen annual Reimbursement Payments are made by the City, whichever date is earlier. For the avoidance of doubt and assuming completion and acceptance of the Public Improvements, the parties acknowledge the first Reimbursement Payment shall commence on or before June 30 of the year following the calendar year in which the New Owner provides the City with a written request to begin the Reimbursement Payment or a period of two years has passed since the date of completion of the Public Improvements (whichever date is earlier) and shall continue annually thereafter until such time as: (i) the Reimbursement Payments total the lesser of the actual cost of the Public Improvements or $1,500,000.00 or (ii) for fourteen (14) additional consecutive years, whichever date is earlier. The City shall have no further financial obligation under this Agreement in the event fifteen Reimbursement Payments have been made and the total of the Reimbursement Payments fails to reach the lesser of the actual cost of the Public Improvem...
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Related to Reimbursement Formula and Procedure

  • Reimbursement of Travel Expenses If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

  • Reimbursement Schedule Maximum reimbursement shall be as follows:

  • REIMBURSEMENT FOR MILEAGE AND INSURANCE 1. An employee who is required by their employer to use their private vehicle for school district related purposes shall receive reimbursement of: Effective July 1, 2019 $ 0.56 c/Km Effective July 1, 2020 $ 0.57 c/Km Effective July 1, 2021 $ 0.58 c/Km

  • Reimbursement Procedure Reimbursement shall be made upon successful completion of a course with a grade of C (2.00) or better. The employee shall submit an official transcript or certificate demonstrating successful completion of the course and a receipt from the institution confirming the employee has paid for tuition, fees, and required textbooks. Any financial assistance available to an employee shall be deducted from the amount of tuition reimbursement that would otherwise be payable. The employee shall not be reimbursed for incidental expenses such as paper or supplies, mileage, parking, meals, or other expenses other than tuition, fees, and required textbooks.

  • Course Reimbursement 15.9.1 Prior approval by the Department of Accountability & Staff and School Renewal is required.

  • Reimbursement for Travel Harford County Public Schools will reimburse employees for approved transportation at the rate established by the Internal Revenue Service. All requests for transportation reimbursement must be submitted to the Assistant Superintendent for Administrative Services for prior approval before payment can be authorized.

  • Travel Expense Reimbursement Pricing for services provided under this Contract are exclusive of any travel expenses that may be incurred in the performance of those services. Travel expense reimbursement may include personal vehicle mileage or commercial coach transportation, hotel accommodations, parking and meals; provided, however, the amount of reimbursement by Customers shall not exceed the amounts authorized for state employees as adopted by each Customer; and provided, further, that all reimbursement rates shall not exceed the maximum rates established for state employees under the current State Travel Management Program (xxxx://xxx.xxxxxx.xxxxx.xx.xx/procurement/prog/stmp/). Travel time may not be included as part of the amounts payable by Customer for any services rendered under this Contract. The DIR administrative fee specified in Section 5 below is not applicable to travel expense reimbursement. Anticipated travel expenses must be pre-approved in writing by Customer.

  • Travel Reimbursement 2.1 The County will only cover costs associated with travel on vendors outside a 50 mile radius from Xxxxxxxxxx County, Texas.

  • Tuition Reimbursement Program 21.2.1 The District will fund $28,000 each fiscal year for incentive pay for employees pursuing their National Board Certification, a master’s degree, or an endorsement.

  • Reimbursement for Services Rendered If this Agreement is held to be invalid for any reason, and the PRACTICE is required to refund fees paid by You, You agree to pay the PRACTICE an amount equal to the fair market value of the medical services You received during the time period for which the refunded fees were paid.

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