Development Program Fund definition

Development Program Fund means the development program fund described in the Financial Plan section of the Development Program.

Development Program Fund means the development program fund described in the Financial Plan Section of the Development Program and established and maintained pursuant to Article II hereof.

Development Program Fund means the Municipal TIF Development Program Fund described in section IV(D) of the Development Program and established and maintained pursuant to Article II hereof and 30-A M.R.S.A. § 5227(3)(A). The Development Program Fund shall consist of a Project Cost Account with at least one subaccount: the Developer Project Cost Subaccount.

Examples of Development Program Fund in a sentence

• The Development Program Fund is pledged to and charged with the payment of the project costs in the manner provided in 30-A M.R.S.A. § 5227(3).

• The Development Program Fund consists of two segregated accounts, a sinking fund account (“Sinking Fund Account”) and a project cost account (the “Project Cost Account”).

• Section 2.3. Captured Assessed Value; Deposits into Development Program Fund.

• Except as permitted hereunder, the City shall not sell, lease, pledge, assign or otherwise dispose, encumber or hypothecate any interest in the Development Program Fund and will promptly pay or cause to be discharged or make adequate provision to discharge any lien, charge or encumbrance on any part thereof not permitted hereby.

• The City’s obligations hereunder shall not constitute a general debt or a general obligation or charge against or pledge of the faith and credit or taxing power of the City, the State of Maine, or of any municipality or political subdivision thereof, but shall be payable solely from that portion of Tax Increment Revenues payable to Developer hereunder, whether or not actually deposited into the Project Cost Account in the Development Program Fund.

More Definitions of Development Program Fund

Development Program Fund means the development program fund described in the Financial Plan of the Development Program into which the Tax Increment Revenues are to be deposited, established and maintained pursuant to the Development Programs and Article II hereof.

Development Program Fund means the Development Program Fund described in the Financial Plan section of the Development Program and established and maintained pursuant to Article II hereof and 30-A M.R.S.A § 5227(3)(A). The Development Program Fund shall consist of a Project Cost Account with two subaccounts: the Developer Project Cost Subaccount and the Town Project Cost Subaccount.

Development Program Fund means the account or accounts into which municipal tax increment revenues are deposited.

Development Program Fund means the Municipal TIF Development Program Fund described in section IV(D) of the Development Program and established and maintained pursuant to Article II hereof and 30-A M.R.S.A.

Development Program Fund means the Affordable Housing Development Program Fund described in the Development Program and established and maintained pursuant to Article II hereof and 30-A M.R.S.A. § 5250-A(3)(A) consisting of the account further described herein.

Development Program Fund means the fund described in Section 3.1 hereof, which is comprised of the funds described in Section 3 of the Certificate of Approval from Xxxxxx Xxxxxxx, Director, Maine State Housing Authority, dated , 2020, all as further established and maintained pursuant to Article III hereof and 30-A M.R.S.A. § 5250-A(3).

Development Program Fund means the development program fund described in the Financial Plan of the Development Program into which the Tax Increment Revenues are to be deposited, established and maintained pursuant to the Development Program and Article II hereof.