City Available Abatement definition

City Available Abatement means, on each Payment Date, the City Abatement generated in the preceding six (6) months with respect to the Development Property and remitted to the City by the County, or such lesser amount as shall cause (i) a cumulative total of $57,712.00 over the term of the City Abatement; or (ii) the total City Available Abatement and the County Available Abatement paid to the Developer during the term of this Agreement to be no more than $83,102.00.
Sample 1Sample 2
City Available Abatement means, on each Payment Date, the City Abatement generated in the preceding six (6) months with respect to the Development Property and remitted to the City by the County, or such lesser amount as shall cause (i) a cumulative total of $316,965.00 over the term of the City Abatement; or (ii) the total City Available Abatement, the ISD No. 271 Available Abatement and the County Available Abatement paid to the Developer during the term of this Agreement to be no more than $809,943.00.
Sample 1Sample 2Sample 3

Examples of City Available Abatement in a sentence

  • Any estimates of City Available Abatement amounts prepared by the City’s financial consultants are for the benefit of the City only, and the Developer is not entitled to rely on such estimates.

  • Subject to the City Abatement Volume Cap described in (b), the City shall pay the Developer the City Available Abatement each February 1 and August 1 (each, a “Payment Date”), commencing August 1, 2027, and terminating on February 1, 2042.

Related to City Available Abatement

  • Available Amount of any Letter of Credit means, at any time, the maximum amount available to be drawn under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).