Common use of State Tax Credits Clause in Contracts

State Tax Credits. The State's Missouri Development Finance Board (“MDFB”) has authorized the issuance of $15 million of state tax credits to the Authority in connection with the financing of the Project by Resolution adopted on August 18, 2015, a copy of which is attached hereto as Exhibit E. The Authority intends to apply for the issuance by the MDFB of $17.5 million in additional tax credits in each of calendar years 2016 and 2017 in connection with the financing of the Project. The Authority applied on August 14, 2015 to the State's Department of Economic Development for $43.3 million in Xxxxxxxxxx Redevelopment Program Remediation Tax Credits to support the development of the Project. On October 7, 2015, the State’s Department of Economic Development issued a conditional authorization of such Remediation Tax Credits. The proceeds of the sale of the foregoing tax credits shall be applied by the Authority to the payment of Project Costs.

State Tax Credits. The State's Missouri Development Finance Board (“MDFB”) has authorized the issuance of $15 million of state tax credits to the Authority in connection with the financing of the Project by Resolution adopted on August 18, 2015, a copy of which is attached hereto as Exhibit E. The Authority intends to apply for the issuance by the MDFB of $17.5 million in additional tax credits in each of calendar years 2016 and 2017 in connection with the financing of the Project. The Authority applied on August 14, 2015 to the State's Department of Economic Development for $43.3 million in Xxxxxxxxxx Redevelopment Program Remediation Tax Credits to support the development of the Project. On October 7, 2015, the State’s Department of Economic Development issued a conditional authorization of such Remediation Tax Credits. The proceeds of the sale of the foregoing tax credits shall be applied by the Authority to the payment of Project Costs.