Economic Development Grants definition

Economic Development Grants means the Tax Increment payments to be made by the City to the Developer under Article VIII of this Agreement.
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Economic Development Grants means annual economic development grants for reimbursement of Eligible Costs for Private Infrastructure to be paid as set forth herein.
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Economic Development Grants means the payments to be made by the City to Developer under Article VIII of this Agreement. Employee means an individual employed by Developer or by a tenant of Developer in the Minimum Improvements on the Development Property on a part-time or full-time basis.
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Examples of Economic Development Grants in a sentence

  • The Economic Development Grants shall not be payable in any manner by other tax increment revenues or by general taxation or from any other City funds.

  • Any commercial and industrial property tax replacement monies that may be received under chapter 441.21A shall not be included in the calculation to determine the amount of Economic Development Grants for which Developer is eligible, and any monies received back under chapter 426C relating to the Business Property Tax Credit shall not be included in the calculation to determine the amount of Economic Development Grants for which Developer is eligible.

  • The Economic Development Grants are only for the Minimum Improvements described in this Agreement (building/improvement increase value only) and not any future expansions or phases which, to be eligible for Economic Development Grants, would be the subject of an amendment or new agreement, at the sole discretion of the City Council.

  • The City hereby covenants and agrees to maintain the Ordinance in force during the term hereof on the Development Property and to apply the appropriate percentage of Tax Increments collected in respect of the Development Property and Minimum Improvements and allocated to the Oskaloosa Gateway Hotel, LLC TIF Account to pay the Economic Development Grants, as and to the extent set forth in this Article.

  • The aggregate amount of the Economic Development Grants that may be paid to Developer under this Agreement shall be equal to the sum of the total amount of the applicable percentage of Tax Increments collected in respect of the assessments imposed on the Minimum Improvements over the specified time period, but in no event shall exceed Eight Hundred Fifty Thousand Dollars ($850,000) over ten (10) years.

  • Developer shall hire at least fifteen (15) Full-Time Equivalent Employment Units to work at the Development Property by July 1, 2020 and shall retain a Monthly Average of fifteen (15) Full-Time Equivalent Employment Units until the Termination Date in order to be eligible for Economic Development Grants.

  • Under no circumstances shall the aggregate amount of the Economic Development Grants made by the City to the Chamber under this Agreement exceed One Million Dollars ($1,000,000) over the ten (10) years.

  • The Economic Development Grants shall be payable from and secured solely and only by amounts deposited and held in the Oskaloosa Gateway Hotel, LLC TIF Account of the Oskaloosa Urban Renewal Area Tax Increment Revenue Fund of the City.

  • The Economic Development Grants are only for the Minimum Improvements described in this Agreement (building/improvement increase value only) and not any future expansions which, to be eligible for Economic Development Grants, would be the subject of an amendment or new agreement, at the sole discretion of the City Council.

  • In the event the City Council of City elects to not appropriate sufficient funds in the budget for any future fiscal year for the payment in full of the installments on the Economic Development Grants due and payable in that future fiscal year, then City shall have no further obligation to Developer for the payment of any installments due in that future fiscal year which cannot be paid with the funds then appropriated for that purpose.

Related to Economic Development Grants

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Economic development incentive means a financial incentive,

  • Economic Development Property means those items of real and tangible personal property of the Project which are eligible for inclusion as economic development property under the FILOT Act and this Fee Agreement, and selected and identified by the Company or any Sponsor Affiliate in its annual filing of a SCDOR PT-300S or comparable form with the Department (as such filing may be amended from time to time) for each year within the Investment Period.

  • spatial development framework means the Mhlontlo Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Commercial Development means any development on private land that is not heavy industrial or residential. The category includes, but is not limited to: hospitals, laboratories and other medical facilities, educational institutions, recreational facilities, plant nurseries, car wash facilities, mini-malls and other business complexes, shopping malls, hotels, office buildings, public warehouses and other light industrial complexes.

  • Major development means an individual “development,” as well as multiple developments that individually or collectively result in:

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • Mixed use development means a Building used, designed or intended for Residential and Non-Residential uses, where:

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria:

  • sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

  • Planned unit development means a subdivision characterized by a unified site design, clustered residential units and/or commercial units, and areas of common open space.

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

  • Development Team means the entities and professionals assembled to develop and manage the Project, typically including the Applicant, Owner, Developer(s), Co-Developer(s) and general partner or any other related entities in which the Developer or Co-Developer has an identity of interest or a Controlling Interest.

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Economic activities shall in principle include activities of an industrial, commercial and professional character and activities of craftsmen;

  • Development rights means any right or combination of rights reserved by a declarant in the declaration to:

  • New development means development resulting from the conversion of previously undeveloped land or agricultural land uses.

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.