Capital Improvement Assessments definition

Capital Improvement Assessments means and refer to a charge against each Owner and his Unit, representing a portion of the costs incurred by the Association for the acquisition, installation, construction or replacement (as distinguished from repairs and maintenance) of any capital improvements located or to be located within the Common Elements or Association Property.
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Capital Improvement Assessments means and refer to a charge against each Owner and his or her Unit, representing a portion of the costs incurred by the Association for the acquisition, installation, construction or replacement (as distinguished from repairs and maintenance) of any capital improvements located or to be located within the Common Elements.
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Capital Improvement Assessments means and refer to an assessment levied against each Owner and his or her Unit, representing a portion of the costs incurred by the Association for the acquisition, installation, construction or replacement (as distinguished from repairs and maintenance) of any capital improvements located or to be located within the Common Elements or Association Property, if any, which are not in the annually adopted budget for the Association.‌
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Examples of Capital Improvement Assessments in a sentence

  • Capital Improvement Assessments shall be assessed and shall be allocated to Owners in the same manner as Regular Assessments.

  • Funds collected by the Project Operator through Capital Improvement Assessments may not be used to fund any Common Expenses incurred by the Project Operator unless otherwise approved by Majority Approval of the Project Occupants.

  • Capital Improvement Assessments may be levied either before or after the Capital Improvement Work is done, at the discretion of the Board.

  • Each Owner of any Lot, by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association all Common Assessments, Special Assessments, Capital Improvement Assessments and Specific Assessments levied as provided herein.

  • However, Capital Improvement Assessments related to a particular Cost Center shall be levied in the same proportions as Common Assessments only against Owners responsible for such Cost Center.

  • The Regular and Capital Improvement Assessments may be combined and collected on a monthly basis and shall be fixed at a uniform formula rate for all Lots based upon the Net Useable Square Footage of each Lot.

  • No Capital Improvement Assessments in any Fiscal Year that, if added to the Capital Improvement Assessments already levied during such Fiscal Year, exceed five percent (5%) of the Association’s Budgeted gross expensesfor such Fiscal Year may be levied without the vote or written consent of Owners casting a majority of votes at an Increase Election.

  • Declarant, for each Lot owned by it, and each Merchant Builder, for each Lot owned by it, hereby covenant and agree to pay, and each Owner, by acceptance of a deed of a Lot whether or not it shall be so expressed in any such deed, is deemed to covenant and agree to pay to the Association all Annual Assessments for Common Expenses and all applicable Special Assessments, Reconstruction Assessments and Capital Improvement Assessments.

  • Specifically, 80 percent of the voting membership is required for Capital Improvement Assessments, 75 percent for amendments to and/or repeal of any portion of the Declaration, and 60 percent to increase maximum annual maintenance assessment beyond Section 8.2 of the Declaration.

  • Each Owner, including the Declarant, of any Lot by acceptance of a deed or other conveyance creating 070802\8587958v5 8 IS in such Owner the interest required to be deemed an Owner, whether or not it shall be so expressed in any such deed or other conveyance, is deemed to covenant and agree to pay to the Association the following: Regular Assessments, Special Assessments, Reimbursement Assessments, Capital Improvement Assessments, Remedial Assessments and Reconstruction Assessments.


More Definitions of Capital Improvement Assessments

Capital Improvement Assessments means an Assessment imposed pursuant to Section 4.4 below.
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Capital Improvement Assessments means the Capital Improvement Assessments that are levied pursuant to Section 5.6.
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Capital Improvement Assessments means and refer to amounts levied against each Owner and his Unit, representing a portion of the costs incurred by the Association for the acquisition,
Sample 1
Capital Improvement Assessments means and refer to an Assessment against each Owner and his or her Unit, representing a portion of the costs incurred by the Association for the acquisition, installation, construction or replacement (as distinguished from repairs and maintenance) of any capital improvements located or to be located within the Common Elements or Association Property. Special Assessments and Capital Improvement Assessments may be levied by the Board and shall be payable in lump sums or installments, in the discretion of the Board; provided that, if such Special Assessments or Capital Improvement Assessments, in the aggregate in any year, exceed ten percent (10%) of the then estimated operating budget of the Association, the Board must obtain approval of a majority of the voting interests represented at a meeting at which a quorum is attained. Notwithstanding anything to the contrary, any special assessment (i) resulting from an Extraordinary Financial Event or (ii) in the opinion of the Board, necessary for the Association to undertake required maintenance or repairs or replacements to the Condominium Property, may be adopted by the Board alone without requiring the vote or approval of Unit Owners and regardless of the amount.
Sample 1
Capital Improvement Assessments means and refer to an Assessment against each Owner and his or her Unit, representing a portion of the costs incurred by the Association for the acquisition, installation, construction or replacement (as distinguished from repairs and maintenance) of any capital improvements located or to be located within the Common Elements. Special Assessments and Capital Improvement Assessments may be levied by the Board of Directors and shall be payable in lump sums or installments, in the discretion of the Board of Directors; provided that, if such Special Assessments or Capital Improvement Assessments, in the aggregate in any year, exceed three percent (3%) of the then estimated operating budget of the Association, the Board of Directors must obtain approval of a majority of the voting interests represented at a meeting at which a quorum is attained.
Sample 1

Related to Capital Improvement Assessments

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Capital Improvements mean the purchase, renovation, rehabilitation, or construction of permanent land, buildings, structures, equipment and furnishings used directly for or in the Project, and any goods or services for the Project that are purchased and capitalized under GAAP, including any organizational costs and research and development costs incurred in Illinois. Capitalized lease costs for land, buildings, structures or equipment shall be included in “Capital Improvements” only if the lease term, including any extensions or options to extend, equals or exceeds the term of this Agreement, and provided that such lease costs are valued at their present value using the corporate interest rate prevailing at the time the Company filed its Application with the Department.

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Infrastructure improvement means permanent infrastructure that is essential for the public health and safety or that:

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following: (i) The operation, repair and maintenance, in neat, clean, good order and condition, of the following:

  • Project area budget means a multiyear projection of annual or cumulative

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Redevelopment Project Area means an area designated by the municipality, which is not less in the aggregate than 1 1/2 acres and in respect to which the municipality has made a finding that there exist conditions which cause the area to be classified as an industrial park conservation area or a blighted area or a conservation area, or a combination of both blighted areas and conservation areas.

  • Infrastructure Improvements means a street, road, sidewalk, parking facility, pedestrian mall, alley, bridge, sewer, sewage treatment plant, property designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, waterway, waterline, water storage facility, rail line, utility line or pipeline, transit-oriented development, transit-oriented property, or other similar or related structure or improvement, together with necessary easements for the structure or improvement, owned or used by a public agency or functionally connected to similar or supporting property owned or used by a public agency, or designed and dedicated to use by, for the benefit of, or for the protection of the health, welfare, or safety of the public generally, whether or not used by a single business entity, provided that any road, street, or bridge shall be continuously open to public access and that other property shall be located in public easements or rights-of-way and sized to accommodate reasonably foreseeable development of eligible property in adjoining areas. Infrastructure improvements also include 1 or more of the following whether publicly or privately owned or operated or located on public or private property:

  • Redevelopment project means a specific construction project

  • Project Improvements means site improvements and facilities that are:

  • Pilot project means an innovative environmental project that covers one or more designated facilities, designed and implemented in the form of an EMSA. (See Section 52.3 of the Act.)

  • Cost of Capital Improvement Projects means the costs of acquiring, constructing, reconstructing, expanding, improving and engineering Capital Improvement Projects, and related financing costs.

  • Project Common Areas as used in this Lease, shall mean the portion of the Project designated as such in the Site Plan. The Project Common Areas shall consist of all parking facilities, entrances and exits, driveways, exterior walkways, first-class landscaped and hardscaped areas which are generally consistent with the quality of landscaped and hardscaped areas of Comparable Buildings in existence as of the date of this Lease, open space areas and plazas on the real property comprising the Project. The term "BUILDING COMMON AREAS," as used in this Lease, shall mean the portions of the Common Areas located within any building in the Project not entirely leased by Tenant, which Building Common Areas shall be reasonably designated as such by Landlord. Notwithstanding the foregoing and subject to (i) Landlord's approval, which approval (as indicated in Section 29.4 below) shall not be unreasonably withheld or delayed, (ii) the CC&R's, and (iii) all terms of this Lease regarding Hazardous Materials, Tenant may install or locate such items as benches, patio tables, bike racks, above-ground generators, security cameras and the like (collectively, "MISCELLANEOUS COMMON AREA ITEMS") at Tenant's sole cost in the Common Areas or on the exterior of the Building, as applicable, provided that Tenant removes such items upon the expiration or earlier termination of this Lease and repairs any damage to the Common Areas or the exterior of the Building (as applicable) resulting from such removal. If Tenant fails to remove any Miscellaneous Common Area Item or to repair any damage resulting from such removal upon the expiration or earlier termination of this Lease, Landlord may do so and may charge Landlord's actual cost thereof to Tenant. The manner in which the Common Areas are maintained and operated shall be in accordance with a standard which is not less than that customarily followed in the operation and maintenance of first class mid-rise office buildings located within the University Towne Center (i.e., the area from two (2) blocks to the North of La Jolla Village Drive to two (2) blocks to the South of La Jolla Village Drive between the I-5 and I-805 freeways), Del Mar, Carmel Valley and Torrey Hills geographical areas, provided that Landlord shall manage, maintain and operate the same in a manner consistent with that of Comparable Buildings, and the use thereof shall be subject to such rules and regulations as Landlord reasonably may make from time to time. As used herein, "COMPARABLE BUILDINGS" shall mean the first class mid-rise office buildings (now existing or subsequently constructed) within the projects located within the University Towne Center, Del Mar, Carmel Valley and Torrey Hills geographical areas and having substantially similar characteristics to the Building pertaining to size, age, accessibility, design, quality, amenities and tenancies. Landlord reserves the right to make alterations or additions to, or to change the location of, elements of the Project and the Common Areas, provided that if any such changes might affect Tenant's use of the Premises (in other than an immaterial manner), Landlord obtains Tenant's prior written approval of any such alterations, additions and changes and such alterations, additions and changes do not unreasonably interfere with Tenant's access to the Premises. Except when and where Tenant's right of access is specifically excluded in this Lease, Tenant shall have the right of access to the Building and the parking facilities twenty-four (24) hours per day, seven (7) days per week during the Lease Term. PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems]

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected. Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Public improvement costs means the costs of:

  • Home improvement means the remodeling, altering,

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Project area plan means a written plan that, after its effective date, guides and controls the development within a project area.

  • Improvement Fund means the Improvement Fund for General Obligation Temporary Notes, Series 2017-1 created pursuant to Section 501 hereof.

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Construction project means the same as that term is defined in Section 38-1a-102.