County Available Abatement definition

County Available Abatement means, on each Payment Date, the County Abatement generated in the preceding six (6) months with respect to the Development Property and transferred to the City by the County, or such lesser amount as shall cause (i) the cumulative County Available Abatement paid to the Developer during the term of this Agreement to be $342,216.00; or (ii) the total County Available Abatement, the City Available Abatement and the ISD No. 471 Available Abatement paid to the Developer during the term of this Agreement to be no more than $809,943.00.

County Available Abatement means, on each Payment Date, the County Abatement generated in the preceding six (6) months with respect to the Development Property and transferred to the City by

County Available Abatement means, on each Payment Date, the County Abatement generated in the preceding six (6) months with respect to the Development Property and transferred to the City by the County, or such lesser amount as shall cause (i) the annual County Available Abatement to be equal to

Examples of County Available Abatement in a sentence

• The City shall disburse the County Available Abatement received pursuant to this Section to the Developer on each Payment Date.

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

• The transfer by the County of the County Available Abatement to the City will be accompanied by electronic communication to the City’s Finance Officer providing the amount of the County Available Abatement transferred.

• Subject to the County Abatement Volume Cap described in (b), the County shall pay the City the County Available Abatement on or before the business day prior to each Payment Date, commencing the business day prior to August 1, 2020, and continuing through the business day prior to February 1, 2030.

• The County makes no warranties or representations as to the amount of the County Available Abatement.

• The County Available Abatement are payable solely from and to the extent of the County Abatement, and nothing herein shall be construed to obligate the County to make payments from any other funds.

• Subject to the County Abatement Volume Cap described in (b), the County shall pay the City the County Available Abatement on or before the business day prior to each Payment Date, commencing the business day prior to August 1, 2027, and continuing through the business day prior to February 1, 2042.

• The pledge of County Available Abatement is subject to all the terms and conditions of the County Abatement Resolution.