Capital Renewal Reserve definition

Capital Renewal Reserve means moneys set aside by an Applicant that has received an award for a project for the specific purpose of replacing major Public School Facility systems with projected life cycles such as, but not limited to, roofs, interior finishes, electrical systems and heating, ventilating, and air conditioning systems.
Sample 1Sample 2Sample 3
Capital Renewal Reserve means moneys set aside by an applicant for the specific purpose of replacing major public school facility systems with projected life cycles such as roofs, interior finishes, electrical systems and heating, ventilating, and air conditioning systems.
Sample 1Sample 2

Examples of Capital Renewal Reserve in a sentence

  • The Capital Renewal Reserve has been established to provide for expenditures associated with the rehabilitation, renewal or replacement of existing capital infrastructure such as roads, including sidewalks and related infrastructure, storm drains and facilities.

  • The Capital Renewal Reserve is not intended to fund the replacement of Facility Components in Additional Space areas.

  • For an Existing Facility where new beds are attached – it is intended that only the replacement of a Facility Component approved to be constructed under the Development Agreement would be funded through the Capital Renewal Reserve.

  • Ongoing regular maintenance costs and the replacement of any items not listed in Appendix A, included herein, should not be funded through the Capital Renewal Reserve.

  • If the Service Agreement expires or is terminated, the Capital Renewal Reserve will remain with the Service Provider.

  • Funding shall also be available to the Service Provider in accordance with the Capital Renewal Reserve Policy.

  • The Town considers that with the Capital Renewal requirements of this new lease, in alignment with the Lease and Licensing of Facilities and Public Open Space Policy, there will be sufficient funds in the Capital Renewal Reserve to address the requirements of court re-surfacing and fence when required.

  • NOT FOR SUBMISSIONNote: Previous recipients of BEST new construction or major renovation grants must also demonstrate ongoing compliance with Capital Renewal Reserve requirements, per 22‐43.7‐109(4)(d) CRS, in effect for the previously awarded facility.

  • The Service Provider should invest interest earned by the Capital Renewal Reserve per Facility within the Capital Renewal Reserve.

  • The Capital Renewal Reserve is not intended to fund a Facility adaptation as a consequence of technology or changing user needs.

Related to Capital Renewal Reserve

  • Capital Reserve means for any period and with respect to a Property (other than any Projects Under Development), an amount equal to the product of (i) the gross leaseable area contained in such Property (in square feet), multiplied by (ii) $0.30 per annum.

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.