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<br /> *January 1, 2023 is the first date on which the full value of taxable added improvements and personal <br />property will be realized. The first Grant Payment, therefore, is based on the assessed valuation in <br />2023, followed by the 2023 Grant Payment being paid out in 2024. <br />**Tenant must achieve TRSA Clean Green Certification by December 31, 2024 in order for the <br />Company to be eligible to receive both the second Grant Payment in 2025 (50%) and the third Grant <br />Payment in 2026 (25%). <br /> <br />Section 4.03. Time for Payment. Grant Payments will be made by the City in the <br />calendar year immediately following the full calendar year in which the Additional <br />Property Taxes upon which the Grant Payment amount is based are generated. Grant <br />Payments will begin in 2024 and continue each year thereafter as shown in the table under <br />section 4.02. Company shall submit its request for a Grant Payment by January 30. The <br />City shall not be required to make a Grant Payment during any applicable calendar year <br />unless and until: <br />(a) Company has submitted its request accompanied by a compliance <br />certificate in the form attached as Compliance <br />Certificate together with all information required under Sections 7.02 and 7.03 <br />of this Agreement necessary to verify its compliance with the terms of this <br />Agreement <br />(b) the full amount of Additional Property Taxes for the prior calendar <br />year are received by the City from the Hays County Tax Assessor-Collector; and <br />(c) funds are appropriated by the San Marcos City Council for the <br />specific purpose of making a Grant Payment under this Agreement as part of the <br /> <br />Provided the foregoing conditions have been satisfied and Company is otherwise in <br />compliance with this Agreement, the City shall pay to Company any Grant Payments due <br /> <br /> <br />