Laserfiche WebLink
immediately preceding calendar quarter and remitted to the City and County in <br />accordance with State Law, City Code, County Code and this Agreement. On or before <br />the 75th day of each full calendar quarter (commencing on the Commencement Date) and <br />thereafter throughout the term of this Agreement, the City and the County shall deliver to <br />the Developer a sworn affidavit by a duly authorized official of the City and a sworn <br />affidavit by a duly authorized County official stating what the respective net City sales <br />tax revenues, net County sales tax revenues and net County room occupancy tax revenues <br />were for the immediately preceding full calendar quarter. Upon reasonable request from <br />the Developer, the City and/or County, as the case may be, shall promptly provide to the <br />Developer such other information as the Developer may request related to the Grant. <br /> <br /> (c) Grant Payments. The amount of the Grants shall be paid in arrears in <br />quarterly installments, each such installment to be determined based on the local sales tax <br />revenues and local room occupancy tax revenues generated by the Project for the <br />immediately preceding calendar quarter as described in the MOU (for purposes of this <br />determination, the Project shall include sales from any land sold to "outparcel" sales <br />occurring from the Project described in Exhibit 1). The quarterly installments of the <br />Grants shall be paid to the Developer on or before 75-days after the expiration of the <br />calendar quarter for which such quarterly installment is to be posted throughout the Term <br />of this Agreement in accordance with the MOU. During the grant award period, the <br />grantee Developer shall remain current with all property taxes assessed, other fees, taxes <br />or other assessments levied by the Grantors to remain eligible for the grants. Failure to <br />do so shall result in temtination of the grant award. Real and personal property <br />assessment shall be made in a manner consistent with and in compliance with recognized <br /> <br />Filename - S~Planning~Incentive Grant Agreement.doc <br /> <br />-9- <br /> <br />Revised 12/18/9tl <br /> <br /> <br />