Tax Increment Financing District. Pursuant to the Minnesota Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 to 469.1799, as amended (the “TIF Act”), the City has approved a tax increment financing plan (the “Financing Plan”), which is the proposed method for financing special assessments and infrastructure fees relating to the Project. Pursuant to the Financing Plan, the Tax Increment Financing District Number 12 has been established as an economic development district under the TIF Act.
Tax Increment Financing District. The City agrees to the extent permitted by law to approve pursuant to the Tax Increment Allocation Redevelopment Act at 65 ILCS 5/11- 74.4-1, et seq. a Route 20 Tax Increment Financing Redevelopment Plan and Project and a Route 20 Tax Increment Financing Redevelopment Project Area which includes the Subject Property and to adopt tax increment financing in connection with such a designated Route 20 Tax Increment Financing Redevelopment Project Area (hereinafter collectively referred to as the "Route 20 Tax Increment Financing District"). The term of the Route 20 Tax Increment Financing District shall be for twenty-three (23) years. The City agrees to use its best efforts to take all necessary governmental action to provide for the establishment of the Route 20 Tax Increment Financing District as soon as is reasonably practicable which the City currently estimates to be approximately August of 2004. In the event the Route 20 Tax Increment Financing District is not established on or before December 31, 2004, then the Developer, upon written notice to the City, may elect to terminate this Agreement and thereupon, with the exception of Section 35 hereof, this Agreement shall be deemed cancelled and null and void and of no further force and effect and with no further liability of either party hereunder. In the event the Route 20 Tax Increment Financing District is not established on or before December 31, 2005, and Developer has not previously terminated this agreement pursuant to the preceding sentence hereof, then either party, upon written notice to the other party, may elect to terminate this agreement and thereupon, with the exception of Section 35 hereof, this agreement shall be deemed cancelled and null and void and of no further force and effect and with no further liability of either party hereunder.
Tax Increment Financing District. Seller and the City of Xxxxxxxx (the “City”) shall have approved the establishment of a redevelopment tax increment financing district (the “TIF District”) for an area that includes the Property after a duly noticed public hearing and upon satisfaction of all other conditions required by Minnesota Statutes, Section 469.174 through 469.1794.
Tax Increment Financing District. Developer supports inclusion of the Developer Property within a Tax Increment Financing (TIF) District, whether such TIF District is new or existing. If requested to do so by the Columbus Department of Development, Developer will provide a letter indicating such support and take other reasonable actions in support of said TIF District.
Tax Increment Financing District. Developer intends to submit an application to the Xxxxxxxxx County Division of Business Development and Retention for a Tax Increment Financing (TIF) District to fund construction of the I70/Meadow Road Interchange westbound on-ramp and eastbound off-ramp, as described in the APFO XXX.
Tax Increment Financing District. Subject to the Company guaranteeing the tax increment financing and providing adequate credit enhancement for its guarantee in the form of a standby letter of credit or other credit enhancement satisfactory to the Governments, and in order to secure a revenue source for the repayment of the SIB Loan, the Governments will work together to consider establishment of a tax increment financing district (the “TIF District”) pursuant to Chapter 6, Title 31 of the Code on the RiverPort Commercial Village, as depicted on the attached Exhibit A and Exhibit B and incorporated herein by reference, with sufficient proceeds of the TIF district pledged to the repayment of the SIB Loan.
Tax Increment Financing District
