Use of TIF Proceeds Clause Samples

Use of TIF Proceeds. The TIF Proceeds shall be deposited into a fund account (“Project Account”) to be used for payment of the City’s TIF Bond cost of issuance and the grant or grants of funds for the costs of the Public Improvements. TIF Proceeds shall be expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves. SECOND PRIORITY: Payment of grant or grants to reimburse Redeveloper for costs of the following Public Improvements: a. Demolition, salvage and site preparation of the Project Site, including the Redevelopment Project Improvements and the protection of public right-of-ways; b. Phase 2 utility work, including extension of cable television within the Project Site, water line improvements, electric line improvements and coordination and screening work with the Phase 1 utility improvements and work as generally shown on Exhibit “B-1” and Exhibit “B-2”, which are attached hereto and incorporated herein by this reference, but excluding utility service lines; c. Streetscape, including relocating streets, sidewalks, curb and gutters, pedestrian lighting, signage, landscape and irrigation materials and other street and sidewalk improvements within the Project Site; d. Construction of public docks within the public right of way along the east side of ▇▇▇ ▇▇▇▇▇▇ and along the north side of “R” Street, in character with the Haymarket Landmark District; e. Construction of the A & H Plaza as described in Paragraph 11a. above and as generally shown on Exhibit “B”; f. Reconstruction of ▇▇▇ ▇▇▇▇▇▇, from “R” Street to “S” Street, reconstruction of “S” Street, from ▇▇▇ ▇▇▇▇▇▇ to ▇▇▇ ▇▇▇▇▇▇ and the reconstruction of the intersection of 8th and “S” Street; g. Public Facade Upgrade as described in Paragraph 11b. above; and h. Public Art as described in Paragraph 11c. above. In the event there is not enough available TIF Proceeds to complete the Second Priority items as shown above, the City Urban Development Director and the Redeveloper shall use their best efforts to agree to modify or reduce the scope, scale, size or phasing of the Second Priority item(s), but not eliminate any Second Priority item, to enable the available TIF Proceeds to fund the modified or reduced Second Priority items. Subject to the preceding sentence, the City Urban Development Director on behalf of the City is hereby authorized to modify or red...
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Use of TIF Proceeds. Redeveloper Priority of Expenditures. TIF Bond Proceeds shall be used for priority expenses (each a “Priority Expense”) in the following order of priority as shown on Exhibit C: FIRST PRIORITY: Reimburse the Redeveloper for the Bond Counsel Fee for the TIF Bond, the TIF Administrative Fee, capitalized interest, and the Redevelopers’ cost to record; SECOND PRIORITY: Payment of grant or grants to reimburse the applicable Redeveloper for its cost of the LCC Façade Restoration and Hotel Façade Restoration to the extent TIF Proceeds are available; THIRD PRIORITY: Payment of a grant or grants to reimburse Cas-Neb- neda and Enterprises for their costs for the Skywalk Improvements to the extent TIF Proceeds are available; and FOURTH PRIORITY: Payment of a grant or grants to reimburse Redeveloper for its costs for the Right of way, Streetscape and Utilities to the extent TIF Proceeds are available. The First through Fourth Priority Items are hereinafter referred to as the “Redeveloper Priority Expenses.” Only costs for Redeveloper Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Priority Expenses under this Section. The funds granted to each Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the Redeveloper Priority Expenses, as described herein, and the Redevelopers do not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Third Priority and Fourth Priority Expenses in excess of the available TIF Bond Proceeds remaining after the First Priority and Second Priority Expenses as described above have been paid in full. The costs for the Uses listed in Exhibit C are estimates and actual reimbursements will be based upon the actual design, inspection, project administration, construction, financing and implementation costs.
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Use of TIF Proceeds. The TIF Proceeds from TIF Note shall be granted to the Redeveloper and be used to fund the costs of set forth on Exhibit “C”.
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Use of TIF Proceeds. Priority of Expenditures. TIF Proceeds from the issuance of TIF Indebtedness shall be expended in the following priority in accordance with those cost estimates listed on Exhibit C Only those costs incurred after the execution of this Redevelopment Agreement by all parties hereto shall be eligible for payment. TIF Proceeds from the sale of the TIF Bond shall be expended in the following priority in accordance with those cost estimates listed on Exhibit C. FIRST PRIORITY: Reimburse the City for the actual costs associated with issuance of the TIF Indebtedness including bond counsel fees, issuance costs, and administrative fees, estimated costs are shown on the Uses and Sources of Funds in Exhibit C;
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Use of TIF Proceeds. The TIF Proceeds shall be deposited into a fund account (“Project Account”) to be used for payment of the City’s TIF Bond cost of issuance and the grant or grants of funds for the costs of the Public Improvements. TIF Proceeds shall be expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves. SECOND PRIORITY: Payment of grant or grants in an amount not to exceed Eight Hundred Fifty Thousand and No/100ths Dollars ($850,000.00) to reimburse Redeveloper for costs of the Street Improvements and payment of grant or grants in an amount not to exceed One Hundred Thousand and No/100ths Dollars ($100,000.00) to reimburse Redeveloper for the cost of Energy Enhancements to the Redeveloper Improvements. In the event there is not enough available TIF Proceeds to complete the Second Priority Street Improvements and/or Energy Enhancements as listed above, the Redeveloper shall use its own funds to fund such deficiency.
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Use of TIF Proceeds. The TIF Proceeds shall be deposited into a fund account (“Project Account”) to be expended in the priority set forth in the Sources and Uses of Funds. In the event there is not enough available TIF Proceeds to complete the Public Improvements listed on the Sources and Uses of Funds, the City Urban Development Director and the Redeveloper may agree to minor redistributions of the TIF Proceeds or minor modifications or reductions in the scope, scale, size or phasing of the Public Improvements to enable the available TIF Proceeds to fund the modified or reduced Public Improvements. No substantial change in the allocation of TIF Proceeds between designated priorities or in the scope, scale, sizing, or phasing of the Public Improvements shall be made without the approval of the Mayor. The Mayor is hereby authorized to amend or modify the order of priority and the amount of the TIF Proceeds for the Priority Items as set forth in the Uses and Sources of Funds. Redeveloper agrees that upon receipt of said grant(s) from the City, Redeveloper shall deposit said funds in a separate account(s) that does not include any of the Redeveloper’s funds for Redeveloper Improvements and pay for said Public Improvements from said separate account(s). The grants are restricted and earmarked for the funding of Public Improvements as described herein and the Redeveloper does not have discretionary judgment over the application of said grant funds. Redeveloper shall submit authentic and satisfactory documentation to the City to verify any grant of TIF Proceeds it receives was expended on eligible Project Costs. Any ineligible use of the TIF shall immediately be repaid to the City.
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Use of TIF Proceeds. The TIF Proceeds shall be deposited by the City into a fund account ("Project Account") to be expended on the Public Improvements. In the event there is not enough available TIF Proceeds to complete the Public Improvements listed above, the City Urban Development Director and the Redeveloper may agree to minor redistributions of the TIF Proceeds or minor modifications or reductions in the scope, scale, size or phasing of the Public Improvements to enable the available TIF Proceeds to fund the modified or reduced Public Improvements. No substantial change in the allocation of TIF Proceeds between designated priorities or in the scope, scale, sizing, or phasing of the Public Improvements shall be made without the approval of the Mayor. The Mayor is hereby authorized to amend or modify the order of priority and the amount of the TIF Proceeds for the Priority Items as set forth above.
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Use of TIF Proceeds. The TIF Proceeds shall be deposited into a fund account (“Project Account”) to be used for payment of the City’s TIF Bond cost of issuance and the grant or grants of funds for the costs of the Public Improvements, Public Enhancements, Private Improvements and Optional Private Improvements. Unless otherwise noted, Public Improvement costs may include design fees, review fees, construction and installation costs, and inspection fees. TIF Proceeds shall be expended, in the project area, in the following priority: A. FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves. B. SECOND PRIORITY: Payment of grant or grants to reimburse Redeveloper for costs of the following Public Improvements, specifically described below: i. Utility work, including sanitary and storm sewer relocation and construction, water line relocation and construction, electric line improvements and other dry utility improvements as generally shown on Exhibit “F”, which are attached hereto and incorporated herein by this reference, but excluding utility service lines; ii. Street scape, and right-of-way improvements, including paving of streets; construction of sidewalks, curb and gutters; traffic signals and pedestrian lighting; public docks; on-street parking; drop off lanes; signage; landscape and irrigation materials and other street and sidewalk improvements within the Redevelopment Area;
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Use of TIF Proceeds. TIF Bond A. TIF Proceeds from the sale of the TIF Bond A shall be expended in the following priority in accordance with those cost estimates listed on Exhibit O. Only costs incurred after the execution of this Redevelopment Agreement by all parties hereto shall be eligible for payment. FIRST PRIORITY: Reimburse the City for cost of issuance of the TIF Indebtedness including bond counsel fees, fiscal advisory fees, placement fees, and reserves; SECOND PRIORITY: Reimburse the Redeveloper for Land Purchase Assistance. THIRD PRIORITY: Fund the Redeveloper Public Improvements. The Third Priority Items are hereinafter referred to as the “Redeveloper Priority Expenses.” The cost for the Uses items in Exhibit O are estimates and reimbursement will be based upon the actual design, inspections, project administration, construction and implementation costs. The Redeveloper is authorized to reduce or increase the scope, scale, size or phasing of a Third Priority item or items, subject to City approval, so long as the overall available Total TIF Uses amount is not exceeded. In the event there is not enough available Grant Funds (defined below) from TIF Proceeds to complete the Third Priority item(s) as shown above, then the Redeveloper is authorized to reduce the scope, scale, size or phasing of a Third Priority item or items or eliminate a Third Priority item or items subject to City approval.
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Related to Use of TIF Proceeds

  • Use of Proceeds The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Prospectus under “Use of Proceeds.”

  • Use of Proceeds; Margin Regulations The Company will apply the proceeds of the sale of the Bonds to repay existing indebtedness and for general corporate purposes and in compliance with all laws referenced in Section 5.16. No part of the proceeds from the sale of the Bonds hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 2% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 2% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.

  • Use of Proceeds of the Grant Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project as set out in Schedule 1 of the Initial Grant Agreement and in accordance with the provisions of this Grant Agreement. Section 3.02. The Works, consulting services and other items of expenditure to be financed out of the proceeds of the Grant and the allocation of amounts of the Grant among different categories of such Works and consulting services shall be in accordance with the provisions of Schedule 1 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB. Section 3.03. Except as ADB may otherwise agree, all Works and consulting services to be financed out of the proceeds of the Grant shall be procured in accordance with the provisions of Schedule 3 to the Initial Grant Agreement. Section 3.04. Withdrawals from the Grant Account in respect of Works and consulting services shall be made only on account of expenditures relating to: (a) Works supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement, and (b) Works and consulting services which meet such other eligibility requirements as shall have been specified by ADB from time to time. Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2014 or such other date as may from time to time be agreed between the Recipient and ADB.

  • Application of Proceeds of Sale The proceeds of any sale of Collateral pursuant to Section 6, as well as any Collateral consisting of cash, shall be applied by the Collateral Agent as follows: FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such sale or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of any Pledgor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of the Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and THIRD, to the Pledgors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of the Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

  • Use of Proceeds of the Loan Section 3.01. The Borrower shall cause the proceeds of the Loan to be applied to the financing of expenditures on the Project in accordance with the provisions of this Loan Agreement. Section 3.02. The proceeds of the Loan shall be allocated and withdrawn in accordance with the provisions of Schedule 3 to this Loan Agreement, as such Schedule may be amended from time to time by agreement between the Borrower and ADB. Section 3.03. Except as ADB may otherwise agree, the Borrower shall procure, or cause to be procured, the items of expenditure to be financed out of the proceeds of the Loan in accordance with the provisions of Schedule 4 to this Loan Agreement. Section 3.04. Except as ADB may otherwise agree, the Borrower shall cause all items of expenditure financed out of the proceeds of the Loan to be used exclusively in the carrying out of the Project. Section 3.05. Withdrawals from the Loan Account in respect of Goods, Works, and Consulting Services shall be made only on account of expenditures relating to: (a) Goods which are produced in and supplied from and Works and Consulting Services which are supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement; and (b) Goods, Works, and Consulting Services which meet such other eligibility requirements as shall have been specified by ADB from time to time. Section 3.06. The Loan Closing Date for the purposes of Section 8.02 of the Loan Regulations shall be 30 June 2019 or such other date as may from time to time be agreed between the Borrower and ADB.