Predevelopment Component definition

Predevelopment Component has the meaning set forth in Section 2.6.

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Predevelopment Component has the meaning set forth in Recital H.

Predevelopment Component means the portion of the City Loan, in the amount of One Million Nine Hundred Thousand Dollars ($1,900,000), to be utilized for eligible predevelopment expenses for the Project. The Predevelopment Component is evidenced by the Predevelopment Component Note.

Examples of Predevelopment Component in a sentence

The Commission shall cause all work associated with the Predevelopment Component in compliance with the requirements of California Labor Code Section 1720 et seq.
If the Commission is unable to secure sufficient funds to complete the Predevelopment Component within the time specified in the Development Schedule, the parties will confer in good faith for a period not to exceed ninety (90) days to determine if the parties should submit further funding applications or if a feasible and mutually acceptable alternate arrangement can be made to finance development of the Predevelopment Component.
Developer shall use the Predevelopment Component to partially fund the Predevelopment Obligations, subject to the disbursement conditions set forth in Section 3.6 below.
Such activities shall include be not limited to: approval of the Final Subdivision Map, approval of a Public Improvement Plan, the demolition of the Existing Buildings, the realignment or construction of certain utilities and other Public Infrastructure, and the remediation of Hazardous Materials on the Master Development Site (collectively, the "Predevelopment Component").
Upon the termination of this Agreement by the County pursuant to Subsection (b) above, the County shall forgive all amounts currently outstanding under the Predevelopment Component provided that: (i) no Event of Default has occurred and is continuing under this Agreement, and (ii) Developer takes all actions necessary to implement the Collateral Assignment Agreement.
Notwithstanding anything to the contrary, no funds may be committed under this Section until such time as the Commission has received sufficient funds to complete the Infrastructure Work and all items under the Predevelopment Component have been completed.
The Predevelopment Component was used by the Agency to pay specified predevelopment costs of the Development, as shown in the schedule of predevelopment costs paid by the Agency, attached hereto as Exhibit D.
If no agreement is reached between the parties within such ninety (90) day period regarding the alternative financing structure to fund the construction of the Predevelopment Component, this Agreement may be terminated by the Master Developer or Commission by written notice from the Commission to the Developers or Master Developer to Commission, as applicable.
This Agreement has been structured such that the Predevelopment Component work to be completed hereunder will be incorporated into the Purchase Price for the Market Rate Development Parcel and no part of the Market Rate Development will be paid for in whole or in part out of public funds.
This Article 6 sets forth the parties expectations as to the implementation of the Predevelopment Component.

More Definitions of Predevelopment Component

Predevelopment Component means the portion of the City Loan, in the amount of One Million Four Hundred Thirty Thousand Dollars ($1,430,000), to be utilized for predevelopment costs and expenses for the development of the Property. The Predevelopment Component is initially evidenced by the Predevelopment Component Note.

Predevelopment Component means the portion of the Agency Loan previously disbursed by the Agency to pay predevelopment costs of the Development.‌

Predevelopment Component will mean the activities prior to Close of Escrow of the first phase of the Project that will be funded by the County Loan up to the amount Three Million Dollars ($3,000,000) to be used for Predevelopment Component costs.

Predevelopment Component means the portion of the Loan in the total amount of Two Hundred Eighty Thousand Dollars ($280,000) consisting of funds allocated to the County by PHC.