Source of Grant Funds Limited a. The Economic Development Grants shall be payable from and secured solely and only by amounts deposited and held in the Oskaloosa Gateway Hotel, LLC TIF Account of the Oskaloosa Urban Renewal Area Tax Increment Revenue Fund of the City. The City hereby covenants and agrees to maintain the Ordinance in force during the term hereof on the Development Property and to apply the appropriate percentage of Tax Increments collected in respect of the Development Property and Minimum Improvements and allocated to the Oskaloosa Gateway Hotel, LLC TIF Account to pay the Economic Development Grants, as and to the extent set forth in this Article. The Economic Development Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds. Any commercial and industrial property tax replacement monies that may be received under chapter 441.21A shall not be included in the calculation to determine the amount of Economic Development Grants for which Developer is eligible, and any monies received back under chapter 426C relating to the Business Property Tax Credit shall not be included in the calculation to determine the amount of Economic Development Grants for which Developer is eligible.
Source of Grant Funds Limited a. The Economic Development Grants shall be payable from and secured solely and only by amounts deposited and held in the Xxxxx Construction and Development, Inc. TIF Account of the Xxxxx Farms Development Urban Renewal Area Tax Increment Revenue Fund of the City. The City hereby covenants and agrees to maintain the Ordinance in force during the term hereof and to apply the incremental taxes collected in respect of the Development Property and the Minimum Improvements and allocated to the Xxxxx Construction and Development, Inc. TIF Account to pay the Economic Development Grants, as and to the extent set forth in this Article. The Economic Development Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds.
Source of Grant Funds Limited a. The Stabilization and Transition Grants shall be payable from and secured solely and only by amounts deposited and held in the Grinnell Urban Renewal Area Tax Increment Revenue Fund of the City. The City hereby covenants and agrees to maintain the Ordinance in force during the term hereof to pay the Stabilization and Transition Grants, as and to the extent set forth in this Article. The Stabilization and Transition Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds. Any commercial and industrial property tax replacement monies that may be received under chapter 441.21A shall not be included in the calculation to determine the amount of Stabilization and Transition Grants for which Developer is eligible, and any monies received back under chapter 426C relating to the Business Property Tax Credit shall not be included in the calculation to determine the amount of Stabilization and Transition Grants for which Developer is eligible.
Source of Grant Funds Limited a. The Economic Development Grants described in Article VIII shall be payable from and secured solely and only by amounts deposited and held in the LSJT of Iowa, LLC TIF Account of the Beaver Creek West Urban Renewal Tax Increment Revenue Fund of the City. The City hereby covenants and agrees, to the extent allowed by law, to maintain the Ordinance in force with respect to the Development Property during the term hereof and to apply the appropriate percentage of Tax Increment collected in respect of the Minimum Improvements and allocated to the LSJT of Iowa, LLC TIF Account to pay the Economic Development Grants, as and to the extent set forth in this Article. The Economic Development Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds. Any commercial and industrial property tax replacement monies that may be received by the City under chapter 441.21A and any monies received back by the City under chapter 426C relating to the Business Property Tax Credit shall not be used to pay Economic Development Grants to the Developer.
Source of Grant Funds Limited. (a) The Economic Development Grants shall be payable from and secured solely and only by amounts deposited and held in the Area #2: South Federal/Gateway TIF Account of the City. The City hereby covenants and agrees to maintain the Ordinance in force during the term hereof and to apply the incremental taxes collected in respect of the Development Property and Minimum Improvements and allocated to the Area #2: South Federal/Gateway TIF Account to pay the Economic Development Grants, as and to the extent set forth in Section 8.1 hereof. The Economic Development Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds.
