TIF District definition
Examples of TIF District in a sentence
Developer further acknowledges that estimates of Tax Increment prepared by the Authority or its financial advisors in connection with the TIF District or this Agreement are for the benefit of the Authority, and are not intended as representations on which the Developer may rely.
Since the GMA TIF District is already established and the TIF plan for the district has been approved, the city has the ability to add projects to the district without the need to create a new TIF district or TIF plan.
The term of this AGREEMENT shall begin upon the execution hereof by both Parties and end upon the earlier of: (a) the complete performance of all obligations and conditions precedent by Parties to this AGREEMENT; or (b) the expiration of the term of the TIF District.
Any funds remaining in the Tax Increment Fund following the final accounting by the City shall be paid to those taxing units participating in the TIF District in proportion to each taxing unit’s share of the total amount of Tax Increment deposited into the Tax Increment Fund in accordance with Section 311.014 of the Act.
The Private Improvements are to be located on the block bound by Abram to south, Main Street to the north, Thornton to the east, and Proctor to the west, as more particularly described in Exhibit “C” (the “Property”), which Property is located entirely within the CITY limits and within the TIF District.