Budgeted Unit Cost definition
Budgeted Unit Cost means, with respect to each Housing Unit, the sum (without duplication) of (a) the Actual Costs of the Finished Lot comprising the subject Housing Unit, plus (b) the total budgeted costs (as set forth in the Construction Budget) related to the vertical construction for a base or standard Floor Plan of such Housing Unit, plus the budgeted cost of any major structural changes (e.g., basement or garage) included or not included in such individual Housing Unit as set forth on the Construction Budget. The Budgeted Unit Cost with respect to a Housing Unit shall exclude all costs related to options.
Budgeted Unit Cost means, with respect to each Unit, the sum of (a) the Finished Lot Acquisition Cost for the Lot comprising the subject Unit, plus (b) the total budgeted hard costs of labor, materials, land improvements, utility installation and hook-up and other work to be performed, plus (c) soft costs (survey cost, permit fees, insurance, interest, real estate taxes, recording charges, loan fees, marketing costs and overhead) to be incurred, in connection with the construction and completion of the subject Unit in substantial compliance with the Plans and Specifications, all as reasonably approved by the Agent; provided, however, that upon Completion of a Unit for an aggregate actual cost which is less than the foregoing amount, the Budgeted Unit Cost for that Unit shall be reduced to such aggregate actual cost.
Examples of Budgeted Unit Cost in a sentence
The AAA shall pay the Contractor for each eligible meal served based on reported units each month at the Regional Budgeted Unit Cost less any program income, local cash, or in-kind donations reported for the program.