Tax Abatements. Subparagraph 2(b) of the Lease is hereby amended to read in its entirety as follows:
Tax Abatements. Cold Summit is permitted to seek to be exempt from real and personal property taxes that may be assessed relative to the Real Estate.
Tax Abatements. The EZ Units of Government shall authorize and direct the County Clerk to xxxxx ad valorem taxes imposed upon real property, located within the Enterprise Zone, upon which new improvements have been constructed or upon which existing improvements have been renovated or rehabilitated, subject to the following conditions:
Tax Abatements. Seller has received no written notice (that remains uncured) from any governmental agency asserting a violation under or the termination of any existing tax abatement for any Project, which tax abatement agreements are in full force and effect.
Tax Abatements. The Tax Abatement Agreement (as hereinafter defined); and
Tax Abatements. Patch and G&H are permitted to seek to be exempt from real and personal property taxes that may be assessed relative to the Property.
Tax Abatements. The Developer is permitted to seek to be exempt from personal property taxes that may be assessed relative to the Property as a result of personal property improvements made to the Property that are provided for outside of the terms of this Agreement. Further, the Developer is permitted to seek vacant building real estate property tax abatements from the City of Franklin’s Economic Development Commission and Common Council.
Tax Abatements. The Transferred Area may be designated by the City as an Industrial Development District pursuant to 1974 PA 198, as amended, or 1998 PA 328. The Transferred Area shall not be made part of any tax increment financing area, authority, or similar taxing jurisdiction during the Term or any Renewal Term of this Agreement. Except as otherwise provided in Section 3.2 for personal property, any tax abatements, incentives, or other similar city or statutory mechanisms that impact the collection of taxes for the City shall have no bearing on the amount of taxes due and owing to the Township under Section 3.2.
Tax Abatements. The lease should provide that if the landlord is successful in obtaining a tax abatement, the tenant will receive its share of the net (i.e., net of the landlord’s costs) amount of such abatement. If the tenant pays escalation over a base year, the landlord will be unwilling to pay the tenant more than the tenant paid in tax escalation payments for the year in question. Commonly, reimbursement to the tenant is in the form of a credit against the tenant’s rental obligations, although at the end of the term, the tenant should receive a payment, to the extent that the payment exceeds amounts then due from the tenant to the landlord. If the tenant occupies a large enough portion of the property, it may be able to require the landlord to apply for tax abatements or be allowed to apply for abatements in its own, or in the landlord’s, name. X.X. x. 59, § 59.
Tax Abatements. 3280-I's records reflect that the tax abatement for the T100 Property commenced on January 1, 2009, based on building completion date of September 10, 2008, which is the date that the certificate of occupancy was issued for the residential condominium building known as Ten Terminus located above the Parking Component . 3280-I's records reflect that, although the tax abatement was to commence for the T100 Property on the January 1 following the date of issuance of the certificate of occupancy for the building on the T100 Property, the tax assessor took the position that the building was not complete until the parking deck below Ten Terminus was complete and the certificate of occupancy was issued for Ten Terminus. 3280-III's records reflect that the tax abatement for the T200 Property commenced on January 1, 2010, based on a building completion date of September 28, 2009.
