Common use of Revenue Generation Clause in Contracts

Revenue Generation. The Developer acknowledges that the Cash Grant is being provided by the City in reliance upon the future generation of general property taxes which will generate revenues for the City, including the revenues necessary to repay the City’s debt on all amounts disbursed for or on behalf of the Developer under this Agreement. During the term of the TIF District, the Developer shall guaranty the use by any subsequent purchaser of the Property for purposes sufficient at all times to avoid an Annual Tax Increment Deficit, and shall take no action which would negatively affect the value of the Property.

Revenue Generation. The Developer acknowledges that the Cash Grant is being provided by the City in reliance upon the future generation of general property taxes which will generate revenues for the City, including the revenues necessary to repay the City’s debt on all amounts disbursed for or on behalf of the Developer under this Agreement. During Until the term grant is repaid through the generation of tax revenue or the TIF Districtgrant is repaid, the Developer shall guaranty the use by any subsequent purchaser of the Property for purposes sufficient at all times to avoid an Annual Tax Increment Deficit, and shall take no action which would negatively affect the value of the Property.