Common use of Grant Program Clause in Contracts

Grant Program. The City has adopted programs for promoting economic development along the State Highway 26 Construction Corridor (“Corridor”) and finds that making promotional business advertising incentives to the Applicant in accordance with this Agreement will further the objectives of the City’s programs, will benefit the City and its inhabitants, and will promote local economic development and stimulate business and commercial activity in the City. The Applicant has applied for an advertising incentive for Applicant’s local business to defray a portion of the costs associated with temporary, additional advertisement of their business located along the State Highway 26 construction corridor. In consideration of the foregoing, and other consideration the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree to the following terms and conditions set forth herein.