Title
Amendment to Tax Abatement Agreement By City of Foley, Alabama and Park at Owa, LLC and Shops at Owa at Owa, LLC.
Summary
Description of Topic: (who, what, where, when, why and how much)
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
...Body
FOR VALUE RECEIVED, and in consideration of the mutual agreements herein and in the Original Abatement Agreement, the undersigned do hereby covenant and agree as follows:
Section 1. Incorporation of Defined Terms
(a) Capitalized terms used herein without definition shall have the respective meanings assigned thereto in the Original Abatement Agreement.
(b) Park at OWA LLC Project shall mean the part of the Project described in the Application attached hereto as Exhibit A.
(c) Shops at OWA LLC Project shall mean the part of the Project described in the Application attached hereto as Exhibit B.
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