Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit C) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the Redeveloper for the Bond Counsel Fee for the TIF Bond, the TIF Admin. Fee, and the Redeveloper’s cost to record Exhibit F and SECOND TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for the total cost of the City Public Improvements. THIRD TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs for Site Acquisition. FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs for Site Preparation. FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs of the Facade Enhancements. SIXTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its cost for the Energy Enhancements and Green System Updates. Only costs for TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as TIF Priority Expenses under this Section. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the TIF Priority Expenses, as described herein, and the Redeveloper does not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Third, Fourth, Fifth, and Sixth TIF Priority Expenses in excess of the available TIF Bond Proceeds remaining after the First TIF Priority and Second TIF Priority Expenses as described above have been paid in full. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Sixth TIF Priority Expenses until the Third, Fourth and Fifth TIF Priority Expenses as described above have been paid in full.
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended in the following priority for each phase of the Redevelopment Project: FIRST PRIORITY: Reimburse the Redeveloper for the cost of recording the Memorandum of Agreement and Use Restrictions, Façade Easement, Payment of the City’s Tax Increment Financing Administration fee, and payment of the Bond Counsel Fee. SECOND PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for Sidewalk Improvements within the project site up to Fifty Thousand Dollars ($50,000.00) THIRD PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for façade enhancements up to Two Hundred Forty-Nine Thousand Forty-Eight Dollars ($249,048.00). The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Sidewalk Improvements or Façade Enhancements in excess of the available TIF Bond Proceeds as described above. Redeveloper shall use its own funds to fund any Second and Third Priority costs that exceed the TIF Bond Proceeds that are lawfully available and granted to the Redeveloper hereunder. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of the Sidewalk Improvements and Façade Enhancement costs. Redeveloper does not have discretionary judgment over the applications of said grant funds.
Use of TIF Bond Proceeds. Priority of Expenditures. TIF Bond Proceeds from the issuance of TIF Indebtedness shall be
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: FIRST PRIORITY EXPENSE: Reimburse the Redeveloper for the Bond Counsel Fee, the TIF Admin. Fee, and the Redeveloper’s cost to record Exhibit G and Exhibit M. SECOND PRIORITY EXPENSE: Payment of grant or grants in the amount of approximately $455,300 to reimburse Redeveloper for some or all of its costs of the Site Preparation and Public Enhancements. The First and Second Priority Expenses are (collectively the “Redeveloper Priority Expenses.”) Only costs for Redeveloper Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Second Priority Expenses in excess of the available TIF Bond Proceeds remaining after the First Priority Expenses as described above have been paid in full. The funds granted to Redeveloper are designated for the reimbursement of TIF eligible costs. However, these projected costs are estimates and the final figures may vary. The City agrees that the individual line items of the TIF eligible costs may be adjusted based on final costs.
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves. SECOND PRIORITY: Reimburse the City its cost to record the Building Maintenance and Public Access Agreement and the Memorandum of Redevelopment Agreement and Use Restrictions. THIRD PRIORITY: Payment of grant or grants to reimburse Redeveloper for costs of the Public Enhancements. Only Public Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Third Priority items. The City shall not have any obligation to making a grant or grants to reimburse the Redeveloper for the Public Enhancements in excess of the available TIF Bond Proceeds as described above. Redeveloper shall use its own funds to fund any Public Enhancement costs that exceed the TIF Bond Proceeds that are lawfully available and granted to the Redeveloper hereunder. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of the eligible Public Enhancements as described herein and the Redeveloper does not have discretionary judgment over the applications of said grant funds.
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the Redeveloper for the Bond Counsel Fee for the TIF Bond, the TIF Admin. Fee, and the Redeveloper’s cost to record any attached Exhibits. SECOND TIF PRIORITY EXPENSE: Payment to grant to City for City Public improvements of Twenty Thousand and NO/100 Dollars ($20,000). THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Site Preparation costs up to One Million One Hundred Ninety Six Thousand and NO/100 Dollars ($1,196,000.00). FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Demolition costs up to Three Hundred Eighty-Five Thousand Two Hundred Fifty Thousand and NO/100 Dollars ($385,250.00). FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Redeveloper Right-of-Way Improvement costs up to Forty-nine Thousand Four Hundred Fifty and No/100 Dollars ($49,450.00). SIXTH TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Façade Enhancements up to Two Million Three Hundred Five Thousand Seven Hundred Fifty and NO/100 Dollars ($2,305,750.00).
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: SECOND TIF PRIORITY EXPENSE: Grant to City of Five Hundred Thousand ($500,000.00) for City Public Improvements. THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Site Acquisition costs up to Two Million Six Hundred Fifty Thousand Dollars ($2,650,000.00).
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended in the following priority for each phase of the Redevelopment Project: FIRST PRIORITY: Reimburse the Redeveloper for the cost of recording the Memorandum of Agreement and Use Restrictions and Payment of the City’s Tax Increment Financing Administration fee. SECOND PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for Site Acquisition within the project site up to One Hundred Ten Thousand Dollars ($110,000.00) THIRD PRIORITY: Payment of a grant or grants to reimburse Redeveloper for all or partial costs for Site Preparation, to include demolition, up to Twenty Thousand Dollars ($20,000.00). THIRD PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for the Right of Way Improvements within the Project Area up to Twenty-Six Thousand Dollars ($26,000.00) applications of said grant funds.
Use of TIF Bond Proceeds. TIF Bond Proceeds shall be used for and expended in the following priority for each phase of the Redevelopment Project: FIRST PRIORITY: Reimburse the Redeveloper for the cost of recording the Memorandum of Agreement and Use Restrictions, payment of bond counsel fees, and payment of the City’s Tax Increment Financing Administration fee. SECOND PRIORITY: Payment of a grant or grants to reimburse Redeveloper for all or partial costs for Site Acquisition within the project site up to Five Hundred Thirty-Seven Thousand Four Hundred Dollars ($537,400.00) THIRD PRIORITY: Payment of a grant or grants to reimburse Redeveloper for all or partial costs for Site Preparation, to include demolition, up to One Million Dollars ($1,000,000.00).
Use of TIF Bond Proceeds. The second and third subparagraphs of Section 503(A) shall be deleted and replaced with the following language: “SECOND PRIORITY EXPENSE: Payment of grant or grants in the amount of $2,911,500.00 to reimburse Redeveloper for a portion of the costs of Site Acquisition. THIRD PRIORITY EXPENSE: Payment of a grant or grants in the amount of $1,325,000.00 for some or all of the costs of Site Preparation.”
