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<br />B. Machinery and Tool Investment Grants. The amount of any Machinery and Tool <br /> <br />Investment Grant shall be equal to 50% of the Net Increase in the machinery and tools tax paid by a <br /> <br />Qualified Machinery and Tool Investment Grant Recipient to the City during a Grant Period equal to <br /> <br />five years, provided that such funds shall be provided only upon actual receipt of such taxes by the <br /> <br />City and that the Qualified Machinery and Tool Investment Grant Recipient shall not be delinquent <br /> <br />in the payment of any other taxes or fees to the City. If, however, the EDA has elected to reduce the <br /> <br />minimum investment required to receive the Machinery and Tool Investment Grant, the EDA may <br /> <br />reduce the amount ofthis Grant and/or may reduce the duration of the Grant Period. The EDA shall <br /> <br />pay such grants to a Qualified Machinery and Tool Investment Grant Recipient who has applied for <br /> <br />the Machinery and Tools Investment Grant, and whose application has been approved by the city <br /> <br />manager or his designee, semi-annually upon receipt of such funds as are herein provided to be paid <br /> <br />by the City to the ED A for the purposes of making such funds available for payment by the ED A of <br />the Machinery and Tools Investment Grant. <br /> <br />C. Mixed-Use Development Incentive. The amount or value and nature of the Mixed-Use <br /> <br />Development Incentive provided by the EDA to a qualified Mixed-Use Development Incentive <br /> <br />Recipient shall be specified in an Incentive Agreement and, also, must be necessary in order for the <br /> <br />qualified Mixed-Use Development Incentive Recipient to undertake that proposed Mixed-use Project <br /> <br />which will cause the occurrence of a Qualifying Event(s). The EDA may, but is not required to, <br /> <br />provide all or a portion of the Mixed-Use Development Incentive to a qualified Mixed-Use <br /> <br />Development Incentive Recipient as a cash grant or as a series of cash grants. The EDA may, but is <br /> <br />not required to, provide all or a portion of the Mixed-Use Development Incentive by providing in- <br /> <br />kind services for the benefit of the qualified Mixed-Use Development Incentive Recipient, including, <br /> <br />but not limited to, such services as: site assemblage, land cost write-down or below-market sale of <br />