TIF Exemption definition

TIF Exemption means the exemption of the Improvements from real property taxation pursuant to the TIF Act, the TIF Ordinance, and this Agreement, all in accordance with and subject to the terms thereof and hereof.
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TIF Exemption means the exemption from real property taxation for the Improvements as authorized by the TIF Statute and TIF Ordinance.
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TIF Exemption means the tax increment financing exemption granted under the Exemption Ordinance pursuant to the TIF Act.
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Examples of TIF Exemption in a sentence

  • Service Payments will be made semiannually to the County Treasurer (or to the County Treasurer’s designated agent for collection of the Service Payments) on or before the final dates for payment of real property taxes for the Parcels, until expiration of the TIF Exemption.

  • Service Payments will be made in accordance with the requirements of the TIF Statutes and the TIF Ordinance, and any subsequent amendments or supplements thereto, and will be in the same amount as the real property taxes that would have been charged and payable against the Improvements (after credit for any property tax rollback payments received) had the TIF Exemption not been granted, including any penalties and interest.

  • The City further represents and warrants that it shall not take action which would result in a reduction in the period of the TIF Exemption, the percentage of the TIF Exemption, or the amount of Service Payments to be received and made available to pay the Costs of the Public Infrastructure Improvements unless such action shall be permitted by law and not inconsistent with the City’s obligations under this Agreement.

  • Developers hereby agree, and will require Phase 2 Successors and successors in ownership of the portions of the property contained in Phase 1 to agree, to make service payments in lieu of taxes (“Service Payments”) attributable to their respective periods of ownership of such portion of the Property which is subject to a TIF Exemption.

  • Any Qualifying Costs and interest thereon not paid by December 31 of the year following the end of the 40(B) TIF Exemption Period or earlier termination of this Agreement pursuant to Section 14 shall be deemed forgiven and the City shall have no further liability for such costs and interest.

  • The City shall make each 40(B) TIF Payment to the Company or its designee(s) on or before each Payment Date until the earlier of: (i) December 31 of the year following the end of the 40(B) TIF Exemption Period, or (ii) the date on which the total 40(B) TIF Payments equal all Qualifying Costs for the Public Infrastructure Improvements, plus interest, incurred by the Company or its designee(s) through the end of the 40(B) TIF Exemption Period.

  • As provided in the School District Resolution, the School District approves the TIF Exemption for up to one hundred percent (100%) of the Increased Value to the Exempted Property for a period of up to twenty (20) years, commencing with the 2017 tax year and ending no later than the tax year ending December 31, 2035.

  • The City, through the 41 TIF Ordinance has granted, among other things, the 41 TIF Exemption, which provides for a thirty (30) year, one hundred percent (100%), TIF exemption pursuant to R.C. Section 5709.41, for the 41 Improvements, with the exemption commencing on the effective date of the 41 TIF Ordinance and ending thirty (30) years after such effective date (the “41 TIF Exemption Period”), all in accordance with the requirements of the TIF Statutes.

  • Service Payments will be made in accordance with the requirements of the TIF Statutes and the TIF Ordinance and, for each Parcel, will be in the same amount as the real property taxes that would have been charged and payable against the Improvement to that Parcel if it were not exempt from taxation pursuant to the TIF Exemption, including any penalties and interest.

  • Notwithstanding any other provision of this Agreement or the TIF Ordinances, the 40(B) TIF Exemption and the obligation to make Service Payments on account of the 40(B) TIF Exemption shall be subordinate to the 41 TIF Exemption, and exemption applications shall be submitted for the 40(B) TIF Exemption for a Parcel only to the extent the 41 TIF Exemption is not available for a Parcel for 30 years.


More Definitions of TIF Exemption

TIF Exemption means the exemption of 100% of the increase in assessed value of the Series 2010A Project Site for a period of up to 30 years beginning in tax year 2003 and extending through tax year 2033, first payable in collection year 2004 and extending through collection year 2034, authorized by the TIF Ordinance.
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TIF Exemption has the meaning set forth in Section 6.1.
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TIF Exemption means the exemption of the TIF Improvements from real property taxation pursuant to the TIF Act and the TIF Ordinance, in accordance with and subject to the terms thereof.
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TIF Exemption means exemption from taxation as defined in the TIF Ordinance.
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Related to TIF Exemption

  • New Exemption means the exemption from real property taxation provided hereunder with respect to the Exemption Area.

  • QPAM Exemption is defined in Section 6.2(d).

  • INHAM Exemption is defined in Section 6.2(e).

  • Class Exemption A class exemption granted by the U.S. Department of Labor, which provides relief from certain of the prohibited transaction provisions of ERISA and the related excise tax provisions of the Code.

  • Section 162(m) Exemption means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.

  • Underwriter’s Exemption Prohibited Transaction Exemption 2002-41, 67 Fed. Reg. 54487 (2002), as amended (or any successor thereto), or any substantially similar administrative exemption granted by the U.S. Department of Labor.

  • certificate of exemption means any document evidencing that the entity is exempt from

  • Prior Exemption means any exemption from real property taxation for the Exemption Area pursuant to the Private Housing Finance Law or the General Municipal Law that was in effect prior to the Effective Date.

  • Tax Exemption means any financial assistance granted to a project which is based upon all or a portion of the taxes which would otherwise be levied and assessed against a project but for the involvement of the Agency in such project.

  • Exemption means the exemption from real property taxation provided hereunder.

  • Tax Exemption Certificate means the Tax Exemption Certificate approved under the terms of this Resolution and to be executed by the Treasurer and delivered at the time of issuance and delivery of the Notes.

  • Exemption Area means the real property located in the Borough of Bronx, City and State of New York, identified as Block 5750, Lot 500 on the Tax Map of the City of New York.

  • PURPA means the Public Utility Regulatory Policies Act of 1978, as amended.

  • TIF Act means the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, inclusive, of the Revised Statutes of Missouri, as amended.

  • AIFM Regulation means Commission Delegated Regulation (EU) No. 231/2013.

  • Tax-Exempt Organization means a "governmental unit," as such term is used in Sections 141 and 148 of the Code.

  • Self-Regulatory Organization means any association of investment advisers or securities dealers registered under the federal securities laws, or any Exchange.

  • FRB Regulation D means Regulation D as promulgated by the Board of Governors of the Federal Reserve System, 12 CFR Part 204, as amended.

  • Similar Law As defined in Section 5.02(b).

  • Exemption Certificate is defined in clause (e) of Section 4.6.

  • SRM Regulation means Regulation (EU) No. 806/2014 of the European Parliament and of the Council of 15 July 2014, establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of the Single Resolution Mechanism and the Single Resolution Fund and amending Regulation (EU) No. 1093/2010, as amended or replaced from time to time (including by the SRM Regulation II).