Examples of Urban renewal entity in a sentence
The report shall clearly identify and calculate the Net Profit for the Urban Renewal Entity during the previous year.
During the period of tax exemption as provided herein, the Urban Renewal Entity shall be subject to a limitation of its profits pursuant to the provisions of N.J.S.A. 40A:20-15.
The Urban Renewal Entity assumes all costs associated with preparation of the periodic reports.
Upon any Termination of the tax exemption described in Section 2.01 hereof, the date of such Termination shall be deemed to coincide with the end of the fiscal year of the Urban Renewal Entity.
It is expressly understood and agreed that the Urban Renewal Entity has the right to encumber and/or assign the fee title to the Land and/or Improvements for the purpose of financing the design, development and construction of the Project and that any such encumbrance or assignment shall not be deemed to be a violation of this Agreement.
Unless otherwise expressly stated, nothing herein shall be deemed to limit any right of recovery that the City or the Urban Renewal Entity has under law, in equity, or under any provision of this Financial Agreement.
The Urban Renewal Entity shall, upon reasonable request and notice, permit inspection of its property, equipment, buildings and other facilities of the Project and also permit examination of audit of its books, contracts, records, documents and papers with respect to the Project, by authorized officers of the City, and the Division of Local Government Services in the State Department of Community Affairs pursuant to N.J.S.A. 40A:20-9(e).
To the extent practical and ethically permissible, the Urban Renewal Entity’s attorneys shall jointly defend and represent the interest of the City and the Urban Renewal Entity as to all claims indemnified in connection with this Agreement.
This Financial Agreement shall be construed and enforced in accordance with the laws of the State, and without regard to or aid or any presumption or other rule requiring construction against the party drawing or causing this Agreement to be drawn since counsel for both the Urban Renewal Entity and the City have combined in their review and approval of same.
Formal notices, demands and communications between and among the City and the Urban Renewal Entity shall be in writing and deemed given if dispatched to the address set forth below by registered or certified mail, postage prepaid, return receipt requested, or by a commercial overnight delivery service with packaging tracking capability and for which proof of delivery is available.