Examples of Xxxxxxxxxx Plan in a sentence
BASIS OF PRESENTATION (CONTINUED) Critical Accounting JudgmentsThe assumption that the Company will be able to continue as a going concern is subject to critical judgments by management with respect to assumptions surrounding the short and long-term operating budget, expected profitability, investing and financing activities and management’s strategic planning.
Tax Increment Financing to reimburse the Developer for eligible costs of the Infrastructure Improvements (together with cost to privately finance) in accordance with Amended Xxxxxxxxxx Plan #11 shall be paid and applied as provided in the Xxxxxxxxxx Reimbursement Agreement dated , 2018.
Such assignment and assumption shall not include the obligations of the Developer with respect to the Infrastructure Improvements, the rights of the Developer to reimbursement for eligible expenses pursuant to Amended Xxxxxxxxxx Plan #11 and the Xxxxxxxxxx Reimbursement Agreement, or the rights to any MBT Credit or other development credits or incentives whether by grants, tax credits, or otherwise.
Approval of Amended Xxxxxxxxxx Plan #11 and City support for amending and retaining the Michigan Business Tax Credits (“MBT Credits”) shall be conditioned upon the Developer obtaining an agreement for assignment of any rights and a release of any claims (in a form satisfactory to the City Attorney) by the prior developer of the Property in connection with the Xxxxxxxxxx plan, Xxxxxxxxxx Reimbursement Agreement, MBT credits, and the Project against the Developer, the City, the DDA, and the ELBRA.
The following are estimates for each of these eligible activity areas: - Work Plan Exempt Activities $50,700 - Department Specific Activities $810,230 - Demolition $117,500 - Asbestos Abatement $30,000 - Infrastructure Improvements $500,000 - Site Preparation $247,475 - Preparation and Implementation of a Xxxxxxxxxx Plan $30,000 It is anticipated that most of these activities will be performed after the adoption of this Xxxxxxxxxx Plan.
This contingency excludes Baseline Environmental Assessment Activities and preparation and implementation of the Xxxxxxxxxx Plan.
Upon conclusion or dissolution of the Xxxxxxxxxx Plan, all tax increment revenues generated by the eligible property shall be captured and retained by the DDA as stated in the DDA Plan.
The parties designate the ELBRA as the agent to receive and disburse all tax increment revenues generated by the eligible property until such time all obligations of the approved Xxxxxxxxxx Plan have been satisfied and ELBRA agrees to do the same in conformity with this agreement and the approved Xxxxxxxxxx Plan.
The Developer and the City agree to share in the tax increment revenue generated under East Lansing Xxxxxxxxxx Redevelopment Authority Xxxxxxxxxx Plan #19 (the “BRA Plan #19”), as shown as Exhibit D.
The Purchaser obtaining an approved Site Plan and Xxxxxxxxxx Plan for the Property.