Common use of Special Source Credits Clause in Contracts

Special Source Credits. (a) In accordance with and pursuant to the Infrastructure Credit Act, in order to reimburse the Company for qualifying capital expenditures incurred for Costs of the Infrastructure during the Investment Period, the Company shall be entitled to receive, and the County agrees to provide, annual Special Source Credits against the Company’s Fee Payments for a period of twenty (20) consecutive years commencing with the Fee Payment to be paid with respect to the property tax year following the year in which the Project or one or more Phases thereof have been placed in service representing an investment in Costs of the Infrastructure which, in the aggregate, exceeds the Minimum Investment Requirement as certified in accordance with the provisions of subsection (d) below (the “Credit Period”). For all property tax years with respect to which the Special Source Credits are applicable as provided herein, the amount of such Special Source Credits shall be fifty percent (50%) of that portion of the Fee Payments payable by the Company with respect to the real property and improvements constituting the Project (that is, with respect to investment made by the Company in real property and improvements, but not in personal property, comprising all or part of the Project during the Investment Period) for such property tax year, calculated and applied after payment of the amount due the non-host county under the Park Agreement.