Redevelopment Loan definition

Redevelopment Loan means a loan to be provided by the City to the Developer in the not to exceed principal amount, at the interest rate and due and payable on or before the Completion Date as specified in Section 4.1(a) of this Agreement.
View Source

Examples of Redevelopment Loan in a sentence

  • Prior to the Effective Date, the City paid $529,016.50 on the TIF Bonds and Urban Redevelopment Loan (the “2019 TIF Deficit Payment”) as a result of a shortfall in the TIF Revenues for calendar year 2019.

  • The City has entered into a Community Reinvestment Fund Loan Agreement and a ▇▇▇▇▇▇▇▇▇▇ Redevelopment Loan Agreement, each dated December 5, 2008 (collectively, the “▇▇▇▇▇▇▇▇▇▇ Loan”) with Cuyahoga County, Ohio (the “County”) pursuant to which the County has made a forgivable loan to the City for the purposes of site acquisition, demolition and environmental remediation of the Project Site.

  • The proceeds from the Urban Redevelopment Loan shall be a source of financing to be shared equally by the Public Parties for the payment of Phase 1 Public Parking Costs.

  • The Public Parties acknowledge that the County has applied for an Urban Redevelopment Loan from the Ohio Department of Development in the amount of $5,470,000 (the “Urban Redevelopment Loan”) with respect to the Parking Facilities.

  • The Rider to Redevelopment Loan Agreement (“HUD Restrictive Covenants Rider”), attached hereto as Exhibit F is hereby adopted as Attachment No. 14 to the Loan Agreement and is incorporated by reference into the Loan Agreement for such time as the Residential Project is subject to a mortgage, deed of trust or security instrument insured or held by the HUD and which HUD Restrictive Covenants Rider may not be amended or revised without the prior written consent of HUD and the FHA Lender.

  • The net proceeds of the TIF Bonds shall be a source of funds, to the extent permissible by law, for the payment of Public Party Costs; provided that the net proceeds of the TIF Bonds may be used to repay the Urban Redevelopment Loan.