Commencement of Construction means the initial disturbance of soils associated with clearing, grading, or excavating activities or other construction activities.
Completion of Construction means the date, as determined by the Division after consultation with the Recipient, that the work of building and erection of the Project is substantially complete.
New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.
Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;
Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.