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MEMORANDUM OF AGREEMENT

MEMORANDUM OF AGREEMENT 2025

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This Memorandum of Agreement outlines the terms between a company and the City of Grand Rapids regarding the issuance of an industrial facilities exemption certificate (IFEC) for capital improvements. The agreement stipulates the company's commitment to make capital investments and create or retain jobs, while also detailing reporting requirements, conditions for revocation of the IFEC, tax obligations, compliance with laws, and provisions for noncompliance. It aims to promote economic growth and development in accordance with Michigan's Act 198.

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Click ‘Get Form’ to open the MEMORANDUM OF AGREEMENT in the editor.
Fill in the date at the top of the document where indicated. This is essential for establishing the timeline of the agreement.
Enter the name of your company and its type in the designated fields. Ensure accuracy as this identifies your entity within the agreement.
Provide your company's address, including city and zip code, to confirm your location for legal purposes.
In the Recitals section, complete any required dates and details regarding your application for an industrial facilities exemption certificate (IFEC).
Proceed to fill out sections detailing capital investments and job creation commitments as outlined in your application.
Review all reporting requirements carefully, ensuring you understand what information needs to be reported and when.
Finally, sign and date at the bottom of the document. Ensure that all parties involved have their signatures included before finalizing.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is MOA the same as contract?

What are contracts and memoranda of agreement? The greatest difference between a contract and a memorandum of agreement is that a contract is a legal document and is enforceable in court, whereas a memorandum of agreement is neither.

What is a memorandum agreement?

Memorandum of Agreement (MOA): An MOA is a document written between parties to cooperatively work together on an agreed upon project or meet an agreed upon objective. The purpose of an MOA is to have a written formal understanding of the agreement between parties.

What is the difference between a MOU and MOA?

MOAs, on the other hand, establish common legal terms that establish a conditional agreement where the transfer of funds for services are anticipated. Memorandum of Understanding (MOU) defines a general area of understanding within both parties authorities and no transfer of funds for services is anticipated.

What distinguishes memorandum of understanding (MOU) or memorandum of agreement (MoA) from service level agreements (SLA)?

While SLAs focus on service delivery, MoUs are used to align broader strategic interests. These agreements can enable more user-centred and efficient service and process development.

Are MOAs enforceable?

A memorandum of agreement (MOA) is a legally binding and enforceable type of contract. When two parties enter into an MOA, the MOA is a formal understanding of what is expected between the parties.

What is the purpose of the MOA?

Protecting the Interests of Shareholders: An essential objective of the MoA is to safeguard the rights and interests of shareholders. By outlining their rights and obligations, the MoA establishes a framework that prevents unauthorised activities or decisions that could adversely impact shareholders.

What is the difference between MOU and MOA funding?

What Is the Difference Between an MOU and an MOA? An MOU is a document that describes very broad concepts of mutual understanding, goals, and plans shared by the parties. An MOA details the specific responsibilities and actions each party will take to achieve their goals.

MEMORANDUM OF AGREEMENT 2025

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