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05-23-1994 EDA
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05-23-1994 EDA
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Last modified
3/3/2025 6:51:18 AM
Creation date
3/13/2012 12:36:28 PM
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MV Commission Documents
Commission Name
Economic Development Authority
Commission Doc Type
Agenda Packets
MEETINGDATE
1/1/1994
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"Tax Increments" means those tax increments which the <br />Authority shall be entitled to receive and retain, and which the <br />Authority shall have actually received, from Ramsey County from <br />time to time from the Tax Increment Financing District pursuant to <br />the Tax Increment Act; and "Available Tax Increments" means, as <br />further defined in Section 3.2, the portion of the Tax Increments <br />which shall be available to pay the Authority's obligations under <br />the EDA Note. <br />"Tax Increment Financinq District" means the Authority's Tax <br />Increment Financing District No. 2 within the Development District, <br />as now under the governance and control of the Authority, as <br />described in Section 2.1(c). <br />"Term" means the period beginning on the date of this <br />Agreement and ending on (1) February 1, 2012, or (2) on such date <br />(if any) as the Authority shall have terminated this Agreement <br />pursuant to its terms, whichever shall occur earlier. <br />"Unavoidable Delavs" means any delay outside the control of <br />the Party claiming its occurrence which is the direct result of <br />strikes, other labor troubles, unusually severe or prolonged bad <br />weather, unavailability of materials, Acts of God, fire or other <br />casualty to the Improvements, litigation (including without <br />limitation bankruptcy proceedings) and which directly results in <br />delays; or acts of any federal, state or local governmental unit <br />which directly result in delays. <br />263478.1 1-3 <br />
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