Developer Reimbursement Clause Samples

Developer Reimbursement. The District’s Development Reimbursement Agreement will remain in full affect until the one hundred thousand dollars ($100,000) mentioned above has been repaid to the developer or the responsibility for their repayment has been discharged. Repayment will only occur until the funds have been repaid to Seller from documented funds advanced by Seller, then all future repayments shall be as follows: (i) Seller shall receive 100% of all of the rights to reimbursements from the District until Seller has been repaid. It is the intent of the Parties that Seller will retain the rights to all oil, gas and minerals related to the Lot, including any revenue generated by the District on such oil, gas and minerals. As such, Seller will be credited for its share of reimbursable public improvement costs and expenses for those public improvements constructed, certified, dedicated and accepted by the Districts equivalent to the amount of revenue generated by the real and personal property taxes generated within the Districts related to the oil and gas production and taxes received by the Districts. (ii) Seller will be entitled to the benefits of all incentives and tax credits that may flow through the District and Buyer will have no claim for those funds. Buyer and Seller will work cooperatively and execute agreements as reasonably required to give Seller needed access to adequate financing and tax incentives available in the market or obtainable through negotiations with the Town, County, State or other funding or financing entity.

Developer Reimbursement. Where the land of a third party directly benefits from services installed by a Developer, the Village may include in the development agreement to endeavour to collect a cost recovery for the Developer. Interest will be added to that initial cost (compounded annually) from the first anniversary date of substantial completion of those services to the date of payment at a rate equal to the Village’s capital borrowing rate. In circumstances where application of such interest would be inequitable or beyond the power of the Village, the cost recovery may be at the relevant local improvement by-law applicable during the year of recovery or whatever amount is recoverable within the Village’s powers. Where the Developer, the Village, and the third party so agree the cost recovery may be calculated as above provided or in any other manner agreed to and either paid by the third party directly to the Developer or though the Village. A development agreement may provide that where the land of a third party directly benefits from services installed by the Developer, as determined by the Village, the Village shall in accordance with these guidelines pay to the Developer the cost and interest as described above in paragraph one and two subject to and upon capital funding being approved for that payment.

Developer Reimbursement. If the TIF Transaction is consummated, then Developers shall be reimbursed out of the proceeds of the TIF Transaction for all of the Costs actually paid (or reimbursed) by Developers to the Town, and/or its Counsel.]

Developer Reimbursement. Reimbursement opportunities, as provided for in ------------------------ Article 5 of RANGEVIEW's Rules and Regulations, shall be available to the DEVELOPER only for the Offsite Water Transmission Pipeline, Special Facility "C".

Developer Reimbursement. (a) The Annual Payments made by the County shall be paid solely from the ad valorem tax revenues collected on the Property. Each Annual Payment shall be an amount equal to the Tax Increment Revenue attributable to the prior 12 month period. The Annual Payments shall be paid annually to the Authority by the County no later than May 15, beginning in calendar year 2020, of each year until the earlier of: (i) the date the Authority has fully paid the Project Improvement Contribution Amount to the Developer; or (ii) May 15, 2042. For purposes of clarification, the Parties agree and acknowledge that the Tax Increment Revenue collected by the County attributable to the Project Area prior to tax year 2019 shall be retained by the County and is not due or payable to the Authority (b) The Authority agrees to pay to the Developer each required Annual Payment within 30 calendar days of receipt from the County. (c) Notwithstanding the foregoing, the Parties agree that the County shall not make the first Annual Payment (but instead shall hold any Annual Payment amounts in escrow) unless and until the Developer builds 100,000 square feet of retail or commercial development on the Property. At such time the Developer has met the necessary development obligation set forth in the preceding sentence, the County shall release the escrowed funds to the Authority. In the event that the Developer fails to meet the necessary development obligation within seven (7) years of the Effective Date of this Agreement, this Agreement shall terminate according to its terms and the County and the Authority shall (i) have no obligation to make any Annual Payments; and (ii) may unencumber the Annual Payments otherwise held in escrow to be used freely by the County for any lawful purpose. (d) The total Annual Payments made under this Agreement will never exceed the actual Project Improvement Contribution Amount as determined by the Authority’s auditor, and confirmed by the County Auditor, regardless of performance of the Project, plus any interest paid or due to be paid on bonds or notes issued to repay the developer for project costs. The County’s obligation to make Annual Payments under this Agreement shall cease on May 15, 2042; provided, however, that the County’s obligation shall cease and this Agreement shall terminate according to its terms on the applicable anniversary of the Effective Date if: Developer (and other sales tax generating retailers) have not constructed at least an additi...

Developer Reimbursement a) Staff is authorized to reimburse Development Charges works constructed by developers in accordance with front end financing agreements approved by Council, provided all conditions have been met. b) In order to address depreciation and the cost of early maintenance, front end financing repayments will not be indexed. c) Repayment occurs after the performance criteria outlined in the front end financing agreement has been met. This will include repayment tied to building permit issuance and any other performance standards outlined in the agreement. d) The repayment amount will be the lesser of the developer’s total project costs, the costs anticipated by the Region of Peel in the applicable Development Charges Background Study, or costs calculated in accordance with market prices current at the time the work is performed, as adjusted to reflect site specific conditions, e.g. depth, soil conditions. e) The Region reserves the right to limit cumulative payments per calendar year in reimbursements to all participating developers to $10,000,000 (Ten Million dollars) if necessary to protect the Regions cash flow in any particular year.

Developer Reimbursement. DRAFT Section 4.01. CTUB will not reimburse the Developer for the installation, cost or any other costs associated with the installation and construction of the Sewage Collection System. Developer expressly waives any right to reimbursement under the PSC Rules and Regulations for the Government of Sewer Utilities, 150 CSR 5, Rule 5.5, a copy of which is attached hereto as Exhibit , and made a part hereof, and understand that CTUB’s extension of service outlined in the Agreement herein shall be construed as an exemption to Rule 5.5 The Developer will collect reimbursement through appropriate pricing of real estate within its Development. Section 4.02. Not later than fifteen (15) business days following the time of the transfer of ownership of the Sewage Collection System or phase thereof as provided in Article III, Developer shall provide CTUB with an itemized accounting of the costs of the Sewage Collection System or phase thereof. The costs shall include, but not limited to, labor, materials, engineering fees and costs of permits. CTUB shall have a right to review copies of the records of Developer relating to the development of the Sewage Collection System and Developer shall, at the request of CTUB, provide CTUB with copies of all invoices relating to the development of the Sewage Collection System or phase thereof. CTUB shall verify the total cost of the Sewage Collection System or phase thereof and shall give notice in writing to Developer of CTUB’s calculation of the total cost of the Sewage Collection System or phase thereof (the “Project Cost”).

Developer Reimbursement. The Parties acknowledge and agree that, in connection with the DDA, Developer incurred costs on behalf of, or of benefit to, Agency and the Agency Parcel North in an aggregate amount equal to Six Hundred Fifty-Five Thousand Dollars ($655,000) (the “Reimbursable Amount”). Accordingly, Agency shall deliver directly to Developer funds equal to the Reimbursable Amount within fifteen (15) days of the Effective Date.

Developer Reimbursement. If the Bond Transaction is consummated, then Developer shall be reimbursed out of the proceeds of the Bond for all of the Area Costs actually paid (or reimbursed) by Developer to the Town, and/or the Area Advisors.