Fort Worth M/WBE Construction Cost Spending Sample Clauses

Fort Worth M/WBE Construction Cost Spending. (Up to 25% for Program Year 1; Up to 10% Thereafter). Each annual Program Grant shall include an amount that is based on the percentage by which the M/WBE Construction Commitment, as outlined in Section 4.3, was met (the "M/WBE Construction Percentage"). In accordance with Sections 4.3.2 and 4.3.3, the M/WBE Construction Commitment will change if the Level 2 Development occurred by the Xxxxx 0 Xxxxxxxxxx Xxxxxxxx and again if the Level 3 Development occurred by the Xxxxx 0 Xxxxxxxxxx Xxxxxxxx, as verified in the Certificates of Completion issued for such Levels pursuant to Section 5.1. Accordingly, in such cases, the M/WBE Construction Percentage will be recalculated. The M/WBE Construction Percentage for the Program Grant payable in Program Year 1 will equal the product of twenty-five percent (25%) multiplied by the percentage by which the applicable M/WBE Construction Commitment was met, which will be calculated by dividing the actual Hard Construction Costs expended with Fort Worth Certified M/WBE Companies by the Completion Deadline for the Levels of Development in question by the number of dollars comprising the M/WBE Construction Commitment, as determined in accordance with Section 4.3. The M/WBE Construction Percentage for all subsequent Program Grants will equal the product of ten percent (10%) multiplied by the percentage by which the applicable M/WBE Construction Commitment was met, calculated in accordance with the preceding sentence. For example (and not as a commitment or goal), if the M/WBE Construction Commitment at a given time is $22,500,000.00 and only $16,875,000.00 in Hard Construction Costs were expended with Fort Worth Certified M/WBE Companies by the Completion Deadlines for the applicable Levels of Development achieved by such time, the M/WBE Construction Percentage for the Program Grant payable in Program Year 1 would be 18.75% instead of 25% (or .25 x [$16.875 million/$22.5 million], or .25 x .75, or .1875), and the M/WBE Construction Percentage for all subsequent Program Grants until the M/WBE Construction Commitment is recalculated in accordance with this Section 5.3.1.3 would be 7.5% instead of 10% (or .10 x [$16.875 million/$22.5 million], or .10 x .75, or .075). If the applicable M/WBE Construction Commitment is met or exceeded, the M/WBE Construction Percentage will be twenty­ five percent (25%) for the Program Grant payable in Program Year 1 and ten percent (10%) for all subsequent Program Grants.
AutoNDA by SimpleDocs

Related to Fort Worth M/WBE Construction Cost Spending

  • DIRECT CONSTRUCTION COST Direct Construction Cost means the sum of the amounts that Contractor actually and necessarily incurs constructing the Project in strict compliance with the Construction Documents. Direct Construction Cost includes only the cost categories set forth in this Article and does not include the Pre-Construction Phase Fees or the Construction Phase Fees unless specifically noted. References in the UGSC to adjustments in “cost” or “costs” mean the Direct Construction Cost.

  • BUILDER’S RISK FOR NEW CONSTRUCTION PROJECTS If the project is NEW CONSTRUCTION, then the following provisions apply:

  • Construction Cost 3.1. Construction Cost does not include the fees of the ARCHITECT/ENGINEER and consultants, the cost of the land, rights- of-way, or other costs, which is the responsibility of the State as provided in Paragraphs 2.2 through 2.3. or any of the contingencies available for the project unless specifically stated otherwise.

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

  • Temporary Credit for Unamortized Specified Road Construction Cost When, under B8.33, Contracting Officer orders a delay or interruption of Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order, the Contracting Officer shall credit the unamortized cost of Specified Roads to Purchaser’s Timber Sale Account, upon the written request of Purchaser or at the discretion of Contracting Officer. The amount credited to Purchaser shall be limited to stumpage paid above Base Rates. Any Specified Road construction cost credited to Purchaser pursuant to this Subsection may be refunded or transferred at the request of Purchaser. However, if Purchaser has outstanding debt owing the United States, Contracting Officer must apply the amount of credit that could be refunded to the debt owed in accordance with the Debt Collection Improvement Act of 1996, as amended. Upon written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Purchaser shall pay for timber a per unit amount, in addition to Current Contract Rates, that is equal to the amount credited to Purchaser’s Timber Sale Account divided by 80 percent of the estimated remaining volume of the contract, until the full amount credited to Purchaser has been returned.

  • PRE-CONSTRUCTION PHASE SERVICES The Pre-Construction Phase shall be deemed to commence upon the date specified in a written Notice to Proceed with Pre-Construction Phase Services issued by Owner and shall continue through completion of the Construction Documents and procurement of all major Subcontractor agreements. Contractor is not entitled to reimbursement for any costs incurred for Pre-Construction Phase Services performed before issuance of the written Notice to Proceed. Pre-Construction Phase Services may overlap Construction Phase Services. Contractor shall perform the following Pre-Construction Phase Services:

  • Routine Maintenance, Construction, and Repair The NYISO or Connecting Transmission Owner may interrupt interconnection service or curtail the output of the Small Generating Facility and temporarily disconnect the Small Generating Facility from the New York State Transmission System or Distribution System when necessary for routine maintenance, construction, and repairs on the New York State Transmission System or Distribution System. The NYISO or the Connecting Transmission Owner shall provide the Interconnection Customer with five Business Days notice prior to such interruption. The NYISO and Connecting Transmission Owner shall use Reasonable Efforts to coordinate such reduction or temporary disconnection with the Interconnection Customer.

  • Interconnection Facilities Engineering Procurement and Construction Interconnection Facilities, Network Upgrades, and Distribution Upgrades shall be studied, designed, and constructed pursuant to Good Utility Practice. Such studies, design and construction shall be based on the assumed accuracy and completeness of all technical information received by the Participating TO and the CAISO from the Interconnection Customer associated with interconnecting the Large Generating Facility.

  • Construction Cost Budget The total cost to District of all elements of the Project designed or specified by the Architect, as adjusted during and at the end of the design phase in accordance with this Agreement and the Agreement for Architectural Services. The Construction Cost Budget does not include the compensation of the Project Design Team, the Program Manager (if any), the Construction Manager and any subconsultants, the cost of the land, rights-of-way, or financing which are the responsibility of the District.

  • PRE-CONSTRUCTION PHASE FEE The Pre-Construction Phase Fee is the total compensation payable to Contractor for the performance of Pre-Construction Phase Services, except for Additional Pre-Construction Phase Services approved in advance and in writing by Owner. The Pre-Construction Phase Fee shall be a lump sum amount based on the AACC established in this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!