First Year of Abatement definition

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

  • In order to receive the tax abatement pursuant to this Agreement, Company understands it must file with the appraisal district an application for property tax abatement exemption between January 1 and April 30 of each year during the Term of this Agreement commencing 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 of Completion of Construction.
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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.
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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.
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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.
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Related to First Year of Abatement

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Year of the Term as used herein shall mean each twelve-month period commencing on (START DATE).

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Benefit year means the period of twelve consecutive months, July 1 through June 30, as established by an employer in which an employee shall accrue and use earned sick leave as provided pursuant to N.J.S.A. 34:11D-2, provided that once the starting date of the benefit year is established by the employer it shall not be changed unless the employer notifies the Commissioner of Labor and Workforce Development of the change in accordance with regulations promulgated pursuant to the Act. The Commissioner shall impose a benefit year on any employer the Commissioner determines is changing the benefit year at times or in ways that prevent the accrual or use of earned sick leave by an employee.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.