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CID Cap definition

CID Cap means the limitation on the amount of CID Sales Tax available to Developer for reimbursement of Eligible Expenses as set forth in Section 3.04(b) hereof. The CID Cap is $2,000,000.
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CID Cap means the limitation on the amount of CID Sales Tax available to Developer for reimbursement of all eligible CID Improvement Costs as set forth in Section 5.04(a).
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CID Cap means $500,000.00.
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Examples of CID Cap in a sentence

  • In no event will the reimbursement described hereunder exceed the CID Cap.

  • Developer, subject to the terms and conditions of this Agreement, including the CID Cap set forth in Section 3.04 below, shall be reimbursed for the CID Improvement Costs from and to the extent of the CID Sales Tax proceeds collected during the Term.

  • In the event that Developer fails to construct the building identified as “Building B” on Exhibit G attached hereto on or before September 1, 2016, then notwithstanding anything set forth in this Agreement (including Exhibit H) to the contrary, Developer hereby understands and agrees that the CID Cap set forth in Section 3.04(b) shall be reduced to One Million Seven Hundred Fifty Thousand Dollars ($1,750,000).

  • The CID Cap referred to in Article IX, Section D.1 of the Amended Aspen Square Agreement shall be reduced to $72,240,000.

  • Subject to the terms and conditions set forth in Articles III and IV below, including the TIF Cap, the CID Cap and other limitations set forth in Article V, the costs of the TIF Improvements and CID Improvements shall be reimbursed to Developer from TIF Proceeds and CID Proceeds, respectively.

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  • The CID Sales Tax revenues collected from the Original CID (the "Original CID Proceeds") shall be paid or reimbursed to Developer as Pay-As-You-Go CID Financing pursuant to the terms and conditions set forth in Section 4.4 and 4.7 of the Agreement, and the CID Cap hereunder shall be reduced by an amount equal to any such Original CID Proceeds which are disbursed to Developer hereunder.

  • Once Developer has received an amount equal to the CID Cap for reimbursement of Phase 2 CID Project Costs through Pay-As-You-Go CID Financing, the parties understand and agree that the CID shall thereafter terminate, and the CID Sales Taxes for CID District 2 shall terminate and no longer be levied or collected within the CID District 2.

  • The Existing Agreement authorizes financing with a community improvement district ("CID") sales tax of 1% to the Original Developer for reimbursement of eligible project costs up to $6,500,000 for the mandatory portion of the Project and an additional $850,000 for the optional Pad Site C (for an overall cap ("CID Cap") of $7,350,000).

  • These include (i) the 1% CID sales tax rate, which will not be increased; (ii) a limitation that no CID bonds will be issued, (iii) the requirement that the final $850,000 of the CID Cap will not be reimbursed until Pad Site C is completed, and (iv) a limitation that CID reimbursement will never exceed 24% of the total Project Costs.


More Definitions of CID Cap

CID Cap means the limitation on the amount of CID Sales Tax available to Developer for reimbursement of CID Eligible Expenses as set forth in Section 11.4(a) of the Agreement, as modified by the Amendment. The CID Cap is [$375,000].
Sample 1

Related to CID Cap

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