Statement of proposed method of financing the redevelopment project Sample Clauses

Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $886,965 from the proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2022 through December 2034 or as agreed to in the TIF agreement.
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Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of not less than $1,824,179 from the proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest according to the approved contract. Based on current estimates this $1,824,179 of TIF will generate $1,281,538 to be invested in the project.
Sample 1
Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $28,708,000 from the proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2017 through December 20318. The developer will use the TIF Note to secure debt financing in an amount not to exceed $28,708,000 to be paid to the note holder during the term of the financing. TIF Notes have been issued for the hospital and MOB 1 in the amount of $11,600,000 and $2,500,000 respectively. The developer is requesting a note in the amount of $4,885,000 for the MOB 2.0 project contemplated in this plan amendment. The total TIF for the project as proposed would be $18,985,000. A total of $9,723,000 less than originally approved.
Sample 1
Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $5,650,000 from the proceeds of the TIF. The project will include the project as describe in this plan and costs associated with building Xxxxxx Road between this property and State Street. The revenues shall be split with 75% dedicated to the residential subdivision project paid to the developer and 25% dedicated to Xxxxxx Road and paid to the city for those expenses. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2024 through December 2049.
Sample 1

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