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. 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. To finance certain qualifying costs with the TIF District, the City and the EDA propose, 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 (a) assist Developer with financing qualifying site acquisition costs and site improvements on the Property and (b) reimburse the EDA and City for certain TIF-eligible expenses related to acquisition of and improvements to the Property
TIF Assistance
