Examples of Increment revenue in a sentence
Calculation of total potential Additional Tax Revenues to both areas would amount to a total of $2.6M, well under what it could collect to pay for the Additional Tax Increment revenue approved projects funded by the Series 2005 Bonds.
The Developer shall use its best efforts to commence and complete construction in the most expeditious manner that will allow for the maximum development of the Project Site, and consequentially the maximization of potential Tax Increment revenue.
The Developer agrees and understands that the payment of the Series 2014 Note that provide the funds for the Project Costs Reimbursement Obligation is directly dependent upon the Developer’s success with respect to the Project in a manner that will generate sufficient Tax Increment revenue to pay the Series 2014 Note.
Therefore, the $204,831 of total Tax Increment revenue received by the Agency will be used towards the purposes identified in the Project Area Plan and Project Area Budget and certain Tax Increment cap amounts as set forth therein.
Sport Venture works to remove barriers by providing all the equipment needed, as well as transportation and even a mealif needed.
Ex-CRA Property Tax Increment revenue was $32.1 million over the budget and $44.0 million more than the prior year.The Budget assumed 4.5 percent growth for Business Tax receipts, and actual receipts were 5.6 percent or $36.5 million higher than last year, and 0.9 percent or $5.8 million over the Budget.
The municipality must return the excess increments to the overlying taxing jurisdictions in proportion to the amounts that belong to each taxing jurisdiction.• Increment revenue did not cover the project costs and the TID account has a deficit.
Mr. Kellan reported that Iosco County Treasurer’s office typically distributes Tax Increment revenue payments by April 1st of the subsequent year.
Stats.).Final Accounting Report must show either:• Increment revenue paid all project costs and the TID account has a surplus.
The City has heretofore paid or reimbursed the Developer the Original Reimbursement Amount in full with (i) Tax Increment revenue on hand in the amount of $1,050,000 and (ii) proceeds of the City’s Tax Increment Urban Renewal Revenue and Refunding Bonds (West Bank Urban Renewal District), Series 2020 (the “Series 2020 Bonds”) in the amount of $1,592,614.