Get the free Development Incentive Agreement by and between the City of Plano, Texas, and VuComp,...

CITY OF PLANO COUNCIL AGENDA ITEM CITY SECRETARY USE ONLY Consent Regular Statutory Council Meeting Date: Department: Finance Department Head 4/26/10 Denise Take Agenda Coordinator (include phone

How to fill out development incentive agreement by

How to fill out a development incentive agreement:

Understand the purpose of the agreement:

1. Familiarize yourself with the objectives and goals of the development incentive program.
2. Review any guidelines or criteria specified by the program.

Gather necessary information:

1. Identify the specific development project that will be covered by the agreement.
2. Collect relevant financial and project details, such as costs, timelines, and expected outcomes.

Fill in the parties involved:

1. Provide the legal names and contact information of the developer or project owner.
2. Include any additional parties, such as government entities or third-party organizations involved in administering the incentive program.

Outline the terms and conditions:

1. Clearly define the scope and purpose of the agreement.
2. Specify the incentives or benefits being offered, such as tax credits, grants, or fee waivers.
3. Include any obligations or responsibilities of the developer for receiving and maintaining the incentives.

Include reporting and monitoring requirements:

1. Define the reporting frequency and format for updates on project progress and achievement of milestones.
2. Specify any documentation or information that needs to be submitted to demonstrate compliance with the agreement.

Address payment and reimbursement details:

1. Clarify the process for claiming and receiving incentives.
2. Outline any conditions or requirements for payment, including submission of invoices or proof of expenses.

Review and finalize the agreement:

1. Carefully read through the entire document to check for accuracy and consistency.
2. Seek legal advice if necessary to ensure compliance with applicable laws and regulations.
3. Obtain signatures from all relevant parties involved in the agreement.

Who needs a development incentive agreement:

Developers or project owners:

1. Those involved in real estate development, construction projects, or other eligible economic development activities.
2. Individuals or organizations seeking financial incentives or benefits from government entities or other incentive programs.

Government entities:

1. Municipalities, states, or federal agencies offering development incentives to promote economic growth, job creation, or specific industries.
2. These entities require a development incentive agreement as a legal framework to ensure compliance and accountability.

Third-party organizations:

1. Nonprofit organizations or economic development agencies involved in administering or facilitating incentive programs.
2. They play a role in evaluating proposals, monitoring progress, and disbursing incentives, hence requiring a development incentive agreement.

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What is development incentive agreement by?

A development incentive agreement is a contract between a developer and a government entity that outlines the incentives and benefits the developer will receive in exchange for meeting certain development goals.

Who is required to file development incentive agreement by?

Developers who are seeking incentives from a government entity are required to file a development incentive agreement.

How to fill out development incentive agreement by?

Developers must provide all relevant information about the project, proposed incentives requested, and development goals in the agreement form.

What is the purpose of development incentive agreement by?

The purpose of a development incentive agreement is to incentivize developers to undertake projects that benefit the community and meet specific development goals.

What information must be reported on development incentive agreement by?

Information such as project details, proposed incentives, development goals, and timeline must be reported on a development incentive agreement.