Orange County NC Website
Page 9 of 14 <br />Green Building Initiative <br />To encourage the implementation of energy efficient building systems, including HVAC systems, Section 179D <br />of the Internal Revenue Code provides for tax deductions for qualifying improvements. Owners subject to <br />federal income taxes are advised to consult their tax advisors for additional information. <br />In the case of Owners not subject to federal income tax, Section 179D provides for the allocation of the tax <br />deduction to the designer of the energy efficient building system as an additional incentive to incorporate the <br />most efficient system affordable. Brady is the designer of the system described in this Proposal. Accordingly, <br />once the energy efficient building system is placed into service, it is understood and agreed that the tax <br />deduction granted pursuant to Section 179D of the Internal Revenue Code will be allocated to Brady, in <br />consideration of which Brady will use its best efforts to maximize the energy efficiency of the system being <br />contracted. <br />179D Government Entity <br />Per the scope of this proposal/contract related to project/property, detailed in said proposal/contract, Brady is considered <br />a designer per IRS Notice 2008-40 Section 3.02. As such, Orange County agrees to allocate the full amount of the <br />available deduction allowed under § 179D, if any, to Brady upon completion of the aforementioned project/property. The <br />allocation of the available deduction will adhere to the requirements of IRS Notice 2008-40 Section 3.04 and will be <br />obtained via a third-party representative of Brady. <br />Docusign Envelope ID: 33B9741C-8E15-46BC-9277-7C5A263BA05E