Tax Increment Collection Period definition

Tax Increment Collection Period means the period of time in which the taxing entities from the Project Area consent to a portion of their tax increment to be remitted to the Agency from within the Project Area and used to fund the objectives outlined in this Project Area Plan.
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Tax Increment Collection Period. The twenty (20) year period commencing with the Trigger Year. Trigger Year: The 2019 tax year. – PAYMENT OF TAX INCREMENT
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Examples of Tax Increment Collection Period in a sentence

  • For each tax year during the Tax Increment Collection Period, the Agency shall prepare and submit an annual disclosure report to the County Council and the County Mayor no later than March 1st of the following year.

  • The Agency agrees that its receipt of County Tax Increment under this Agreement each year during the Tax Increment Collection Period, constitutes an affirmation that the representations of this Article remain true and correct as of the date thereof, unless the County is notified to the contrary prior to the Agency’s receipt of County Tax Increment.

  • The Agency and the City have entered into or will enter into an interlocal cooperation agreement wherein the City has agreed to contribute 100% of its Tax Increment to the Agency for the duration of the Tax Increment Collection Period.

  • However, the Parties agree that if, during the Tax Increment Collection Period, the Agency or Herriman City seeks additional funds from the County in relation to the Project Area—whether tax increment, transportation funds, or otherwise—the County may, in its sole discretion, require the Agency to renegotiate and amend the terms of this Agreement as a condition to providing the additional requested funding.

  • Pursuant to Sections 17C-4-201 and 17C-4- 202, the Agency has entered into an interlocal cooperation agreement with the City wherein the City has agreed to contribute 100% of its Tax Increment to the Agency for the duration of the Tax Increment Collection Period.

  • The taxable value of the Project Area has exceeded One Hundred Three Million Seven Hundred Eighty-Four Thousand Three Hundred Twenty- Seven Dollars and No Cents ($103,784,327) in any tax year during the Tax Increment Collection Period prior to and including the seventh (7th) tax year following the Trigger Year.

  • Library Tax Levy: $1,968,896.00 (“ Library Cap”) The Countywide Cap and Library Cap will be proportionally reduced by the amount of any direct expenditures made by the County in the Project Area during the Tax Increment Collection Period (or any extension thereof), including, but not limited to, expenditures related to the design, development, construction, or maintenance of infrastructure or amenities.

  • The corporate assets are being misapplied or wasted and that it is beneficial to the interests of the shareholders that the corporation be wound up and dissolved.

  • Subject to Sections 2.3, 2.4, and 2.5, the County hereby agrees and consents that, for each tax year during the Tax Increment Collection Period, the Salt Lake County Treasurer shall pay 72% of County Tax Increment to the Agency (the “Agency’s Share”) and shall pay the remainder of County Tax Increment, if any, to the County (the “County’s Share”).

  • Notwithstanding the foregoing, the Parties hereby agree that for each tax year during the Tax Increment Collection Period, the Agency at its option shall transfer an amount equal to 15% of any Tax Increment it receives from the Salt Lake County Treasurer (i) to the Agency's housing fund established under Section 17C-1-412 of the Utah Code for use in providing Income Targeted Housing within the Project Area, or (ii) to a fund maintained by the County (the “Affordable Housing Set-Aside”).