First Year of Abatement definition

First Year of Abatement means January 1 of the calendar year immediately following the date of Completion of Construction.

First Year of Abatement means January 1 of the calendar year immediately following the installation of the Improvement.

First Year of Abatement means the earlier of (a) the year commencing on January 1, 2024 or (b) the first full tax year following the Owner’s Completion of Construction of a minimum of 6,000,000 square feet of Improvements on Owner’s Land within the Reinvestment Zone; provided, however, that the Owner may, at its sole discretion and sole option, elect to delay the First Year of Abatement by up to one (1) year by delivering a notice to the County and the Xxxxxxxxxx Central Appraisal District (or its successor) stating such desire (a “Notice of First Year of Abatement Change”); and in such case, the First Year of Abatement shall be the date identified in the Notice of First Year of Abatement Change.

Examples of First Year of Abatement in a sentence

• Subject to Company’s full compliance with the terms and conditions of this Agreement, the City hereby grants Company an abatement of forty percent (40%) of the Taxable Value of the Real Property and an abatement of forty percent (40%) of the Taxable Value of the Tangible Personal Property located on the Real Property, for a period of ten (10) consecutive years, beginning with the First Year of Abatement.

More Definitions of First Year of Abatement

First Year of Abatement means January 1 of the calendar year immediately following the date a certificate of occupancy has been issued by the City for the occupancy of the Leased Premises by Lessee

First Year of Abatement means January 1 of the calendar year immediately following the date the first Certificate of Occupancy is issued for a commercial structure within the Project.

First Year of Abatement means January 1, 2026; provided, however, that the Owner may, at its sole discretion and sole option, elect to delay the First Year of Abatement by up to one (1) year by delivering a notice to the City and the BCAD (or its successor) stating such desire (a “Notice of First Year of Abatement Change”), and in such case, the First Year of Abatement shall be the date identified in the Notice of First Year of Abatement Change.

First Year of Abatement means the calendar year beginning with January 1, 2017.”

First Year of Abatement means the earlier of (a) the year commencing on January 1, 2024 or (b) first full tax year following the Owner’s obtaining a Certificate of Occupancy from the City of Taylor, Texas for a minimum of 6,000,000 square feet of facilities on the Land; provided, however, that the Owner may, at its sole discretion and sole option, elect to delay the First Year of Abatement by up to one (1) year by delivering a notice to the City and the Xxxxxxxxxx Central Appraisal District (or its successor) stating such desire (a “Notice of First Year of Abatement Change”), and in such case, the First Year of Abatement shall be the date identified in the Notice of First Year of Abatement Change.