Legal and Administrative Expenses means all the fees and expenses incurred by the Authority in connection with the review and analysis of the development proposed under this Agreement, the administration of the Tax Increment Financing Plan and the Tax Increment District, the preparation of this Agreement, the issuance of the Tax Increment Note, and the recording of the Assessment Agreement including, but not limited to, attorney and municipal advisor fees and expenses; Note Payment Date means August 1, 2025, and each February 1 and August 1 of each year thereafter to and including February 1, 2034; provided, that if any such Note Payment Date should not be a Business Day, the Note Payment Date shall be the next succeeding Business Day;
Legal and Administrative Expenses means the fees and expenses incurred by the City in connection with the preparation of this Agreement and the issuance of the TIF Note; Note Payment Date means August 1, 2022, and each February 1 and August 1 of each year thereafter to and including February 1, 2048; provided, that if any such Note Payment Date should not be a Business Day, the Note Payment Date shall be the next succeeding Business Day;
Legal and Administrative Expenses means the fees and expenses incurred by the City or HRA in connection with review and analysis of the development proposed under this Agreement with the adoption and administration of the TIF Plan and establishment of the TIF District, the preparation of this Agreement and the issuance of the TIF Note including, but not limited to, attorney and municipal advisor fees and expenses;
Examples of Legal and Administrative Expenses in a sentence
On each Payment Date the City shall pay by check or draft mailed to the person that was the Registered Owner of this Note at the close of the last business day of the City preceding such Payment Date Tax Increment received by the City following the reimbursement to the City of Legal and Administrative Expenses as identified in the Development Agreement by and between the City and Developer dated, , 2015.
Any Legal and Administrative Expenses in excess of $15,000 shall be billed to and paid for by the Developer.
If the total cost of Legal and Administrative Expenses is less than the $15,000 deposit, the remaining funds after all Legal and Administrative Expenses have been paid, are to be returned to the Developer, without interest.
Section 3.1. Land Acquisition, and Legal and Administrative Expenses 7 Section 3.2. Limitations on Undertaking of the EDA 7 Section 3.3. Reimbursement: TIF Note 7 Section 3.4. Rental; Compliance 8 Section 3.5. Business Subsidies Act 8 Section 3.6. Execution of Assessment Agreement 9 Section 3.7. Action to Reduce Taxes 10 Section 3.8. Look Back and Reduction of TIF Assistance 10 Section 3.9. Property Stabilization 10 Section 3.10.
The parties agree that where the UN Regulations apply to the Goods the terms of this Clause 14.5 shall apply.
More Definitions of Legal and Administrative Expenses
Legal and Administrative Expenses means all expenditures of the City other than those expenses defined in Minn. Stat. § 469.17, Subd. 14; Minimum Improvements means a proposed 40-unit rental townhome project constructed in a four-year phasing of the project, with 12 units proposed in 2016, 8 units in 2017, 8 units in 2018 and 12 units in 2019, by the Developer on the Development Property;
Legal and Administrative Expenses means the fees or expenses incurred by the City in connection with the establishment of the Tax Increment District, the preparation of this Agreement and the Assessment Agreement and the issuance of the TIF Note;
Legal and Administrative Expenses means the fees or expenses incurred by the City in connection with the preparation of this Agreement and the establishment of the Tax Abatement Program; Project means the acquisition and construction by the Company of an approximately 8,000 square-foot warehouse and 2,000 square-foot office/retail facility, which shall have a minimum assessed value of $800,000 upon completion, for the storage and sale of Culligan water products located on the Tax Abatement Property; State means the State of Minnesota; Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815, as amended; Tax Abatement Program means the actions by the City pursuant to Minnesota Statutes, Section 469.1812 through 469.1815, as amended, and undertaken in support of the Project; Tax Abatement Property means the property described on Exhibit A; Term means the period in which this Agreement shall remain in effect, commencing on the Effective Date and continuing until the earlier of (i) the date the Company receives the final payment of Tax Abatements totaling the Reimbursement Amount (as defined herein), or (ii) February 1, 2033, unless earlier terminated or rescinded in accordance with the terms contained herein; and Unavoidable Delays means delays, outside the control of the party claiming its occurrence, including strikes, other labor troubles, unusually severe or prolonged bad weather, acts of God, fire or other casualty to the Project, litigation commenced by third parties which, by injunction or other similar judicial action or by the exercise of reasonable discretion, directly results in delays, or acts of any federal, state or local governmental unit (other than the City) which directly result in delays.
Legal and Administrative Expenses means the fees and expenses actually incurred by the City in connection with the review and analysis of the development proposed under this Agreement, the adoption and administration of the Tax Increment Financing Plan and establishment of the Tax Increment District, the preparation of this Agreement and the issuance of the TIF Note including, but not limited to, attorney and municipal advisor fees and expenses; Prime Rate means the rate of interest from time to time publicly announced by U.S. Bank National Association in St. Xxxx, Minnesota, as its "prime rate" or "reference rate" or any successor rate, which rate shall change as and when that rate or successor rate changes; Project means the redevelopment of a portion of the Development Property with the construction of an industrial flex warehouse building of approximately 150,000 square feet on the Development Property located in the City and leased to one or more tenants;
Legal and Administrative Expenses means all the fees and expenses incurred by the Authority in connection with the review and analysis of the development proposed under this Agreement, this Agreement, the issuance of the TIF Note (as hereinafter defined), and the recording of the Assessment Agreement including, but not limited to, attorney and municipal advisor fees and expenses; Note Payment Date means August 1, 2026, and each February 1 and August 1 of each year thereafter to and including February 1, 2031; provided, that if any such Note Payment Date should not be a Business Day, the Note Payment Date shall be the next succeeding Business Day;
Legal and Administrative Expenses means the fees or expenses incurred by the City and the Authority in connection with the preparation of this Agreement and the establishment of the Tax Abatement Program; Project means the construction by the Company of a minimum 12,000 square-foot facility, valued at $2,500,000, located on the Tax Abatement Property; State means the State of Minnesota; Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815, as amended; Tax Abatement Program means the actions by the City pursuant to Minnesota Statutes, Section 469.1812 through 469.1815, as amended, and undertaken in support of the Project; Tax Abatement Property means the real property described on Exhibit A, attached hereto;
Legal and Administrative Expenses means the fees and expenses incurred by the HRA in connection with review and analysis of the development proposed under this Agreement, the preparation of this Agreement including, but not limited to, attorney and municipal advisor fees and expenses.