Examples of Xxxxxxxxxx Plan in a sentence
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.
Upon completion of the Infrastructure Improvements and Building A and Building D in accordance with the approved site plan, the ELBRA agrees to reimburse the Developer according to the TIF allocation schedule on Table 2 of Amended Xxxxxxxxxx Plan #11 and incorporated in the Xxxxxxxxxx Reimbursement Agreement.
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.
The estimated development cost for the Infrastructure Improvements in Amended Xxxxxxxxxx Plan #11 do not include the cost for remediation of any of the conditions disclosed in the three Phase II reports described above beyond the presence of asphalt and asphalt related paving materials and the soils associated with those conditions.
ELBRA agrees to reimburse Developer for eligible expenses pursuant to Amended Xxxxxxxxxx Plan #11, as amended by the East Lansing City Council at its meeting on in accordance with the Xxxxxxxxxx Reimbursement Agreement dated .
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.
Notwithstanding any provision to the contrary in this Agreement or in Xxxxxxxxxx Plan #24, the maximum amount of tax increment revenue that may be captured is $55,952,038.
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.
These aspects are not taken into account and the result becomes therefore more arbitrary.
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.