TIF Assistance. To finance certain costs with the TIF District, the City proposes, subject to the further provisions of this Agreement, to apply the tax increments derived from the Property which have been received by the City in accordance with the provisions of Minnesota Statutes Section 469.177 (the “Tax Increments”) to assist Developer with financing the cost of outstanding special assessments and infrastructure fees, which include sewer and water availability charges, on the Property.
TIF Assistance. As authorized by the Project Plan and subject to the terms, conditions, and limitations contained in Article V herein, NTIFA shall provide public assistance in development financing to CC Trust in an amount equal to the lesser of (i) the Public Assistance (as defined in Recital (10) above and below in Section 5.03) or (ii) (A) up to $600,000,000.00 in Incremental Sales Tax Revenues (as defined in Section 5.03(a) of this Agreement) and Incremental Ad Valorem Revenues (as defined in Section 5.03(a) of this Agreement), and (B) 100% of any Leverage Act Funds received from the State of Oklahoma (“Total Assistance”).
TIF Assistance. A. Landlord hereby represents to Tenant that the Land and Building lie within that certain City of Chicago tax increment financing district known as The Ohio/Wabash Tax Increment Financing District (the “TIF District”), approved by the City Council of the City of Chicago (the “City”) by ordinance dated June 7, 2000 (the “Ordinance”). Under the Ordinance, the City is authorized to reimburse to property owners within the TIF District revenues attributable to increased property taxes generated from the TIF District as the result of the development of the property within the TIF District (such reimbursement being referred to herein as “TIF Assistance”). Tenant hereby acknowledges that Lxxxxxxx’s obtaining TIF Assistance is vital to making the redevelopment of the Building and the Development Project economically viable.
B. Lxxxxxxx has informed Tenant that in order for Landlord to obtain TIF Assistance, Landlord intends to enter into a Redevelopment Agreement (the “Redevelopment Agreement”) with the City. Tenant hereby acknowledges that the Redevelopment Agreement will address such matters as the historic preservation of certain aspects of the Building, the creation of jobs and the employment of women-owned and minority-owned businesses in Tenant’s Work. Medinah Temple Lease 5
C. Landlord shall keep Tenant continually and fully informed of the status of the negotiations of the Redevelopment Agreement, and Tenant shall have the opportunity to review drafts of the Redevelopment Agreement (including all exhibits) and timely comment on same to Landlord and the City. Tenant shall cooperate with Lxxxxxxx’s efforts to obtain TIF Assistance by providing reasonable information to the City from time to time about the status of this Lease, Txxxxx’s plans for the renovation and remodeling of the Building and its initial proposed use thereof. Landlord shall ensure that Txxxxx is allowed to participate in the planning and discussions with the City concerning proposed historical and architectural preservation requirements and other work or improvements concerning the Building. Landlord warrants that the Redevelopment Agreement and creation of the TIF District will not (i) cause any lien or other encumbrance to be placed on the Premises or Tenant’s interest in this Lease except to the extent expressly set forth in the Redevelopment Agreement, or (ii) require Tenant to enter into any agreement with any governmental or quasi-governmental authority in connection with the TIF Ass...
TIF Assistance. The Authority shall provide up to $5,000,000 in TIF Assistance to Redeveloper as reimbursement for Qualified Costs to assist Redeveloper in repaying the Minimum Improvements Loan in accordance with this Article V. As detailed in the Redeveloper Pro Forma, Redeveloper’s anticipated Qualified Costs exceed $5,000,000. The Authority does not represent or warrant the amounts of Available Tax Increment that will be available for payment of the Minimum Improvements Loan. The Authority will not reimburse the Redeveloper for the Qualified Costs from Authority revenues, other than Available Tax Increment, nor guaranty the amount of money which the Redeveloper will receive as a reimbursement, such amount being payable solely from the Available Tax Increment.
TIF Assistance
