Common use of Valuation of the Project Site and New Building Clause in Contracts

Valuation of the Project Site and New Building. The City intends to use the Ad Valorem Tax Provision ("Ad Valorem Tax Provision") to generate tax increment revenues ("TIF Tax Revenues") which shall be used to pay debt service on the sale of the TIF Bond for the New Building and to receive TIF Bond Proceeds to make the grant or grants to Redeveloper to fund the Site Acquisition, and Redeveloper Public Improvements in accordance with this Redevelopment Agreement. The tax increment is to be derived from the increased valuation, determined in the manner provided for in Article 8, Section 12 of the Constitution of the State of Nebraska and the Community Development Law which will be attributable to the redevelopment contemplated under this Agreement. Redeveloper agrees not to contest any taxable valuation assessed for the Project Site and the New Building constructed thereon below $16,500,000.00 for the New Building commencing on the Effective Date (defined below) of the Ad Valorem Tax Provision for the New Building and continuing for a period not to exceed fifteen (15) years after the Effective Date or so long as any portion of the TIF Indebtedness remains outstanding and unpaid, whichever period of time is shorter.

Valuation of the Project Site and New Building. The City intends to use the Ad Valorem Tax Provision ("“Ad Valorem Tax Provision"”) to generate tax increment revenues ("“TIF Tax Revenues"”) which shall be used to pay debt service on the sale of the TIF Bond for the New Building and to receive TIF Bond Proceeds to make the grant or grants to Redeveloper to fund the Site Acquisition, Redeveloper Public Improvements, and Redeveloper City Public Improvements in accordance with this Redevelopment Agreement. The tax increment is to be derived from the increased valuation, determined in the manner provided for in Article 8, Section 12 of the Constitution of the State of Nebraska and the Community Development Law which will be attributable to the redevelopment contemplated under this Agreement. Redeveloper agrees not to contest any taxable valuation assessed for the Project Site and the New Building constructed thereon below $16,500,000.00 for the New Building 68,000,000.00, commencing on the Effective Date (defined below) of the Ad Valorem Tax Provision for the New Building and continuing for a period not to exceed fifteen (15) years after the Effective Date or so long as any portion of the TIF Indebtedness remains outstanding and unpaid, whichever period of time is shorter.

Valuation of the Project Site and New Building. The City intends to use the Ad Valorem Tax Provision ("“Ad Valorem Tax Provision"”) to generate tax increment revenues ("“TIF Tax Revenues"”) which shall be used to pay debt service on the sale of the TIF Bond for the New Building and to receive TIF Bond Proceeds to make the grant or grants to Redeveloper to fund the Site Acquisition, Site Preparation, and Redeveloper Public Improvements Energy Enhancements in accordance with this Redevelopment Agreement. The tax increment is to be derived from the increased valuation, determined in the manner provided for in Article 8, Section 12 of the Constitution of the State of Nebraska and the Community Development Law which will be attributable to the redevelopment contemplated under this Agreement. Redeveloper agrees not to contest any taxable valuation assessed for the Project Site and the New Building constructed thereon below $16,500,000.00 for the New Building 20,000,000, commencing on the Effective Date (defined below) of the Ad Valorem Tax Provision for the New Building and continuing for a period not to exceed fifteen (15) years after the Effective Date or so long as any portion of the TIF Indebtedness remains outstanding and unpaid, whichever period of time is shorter.

Valuation of the Project Site and New Building. The City intends to use the Ad Valorem Tax Provision ("“Ad Valorem Tax Provision"”) to generate tax increment revenues ("“TIF Tax Revenues"”) which shall be used to pay debt service on the sale of the TIF Bond for the New Building and to receive TIF Bond Proceeds to make the grant or grants to Redeveloper to fund the Site Acquisition, Site Preparation, and Redeveloper Public Improvements in accordance with this Redevelopment Agreement. The tax increment is to be derived from the increased valuation, determined in the manner provided for in Article 8, Section 12 of the Constitution of the State of Nebraska and the Community Development Law which will be attributable to the redevelopment contemplated under this Agreement. Redeveloper agrees not to contest any taxable valuation assessed for the Project Site and the New Building constructed thereon below $16,500,000.00 for the New Building 55,000,000.00, commencing on the Effective Date (defined below) of the Ad Valorem Tax Provision for the New Building and continuing for a period not to exceed fifteen (15) years after the Effective Date or so long as any portion of the TIF Indebtedness remains outstanding and unpaid, whichever period of time is shorter.