Development subsidies definition
Development subsidies means financial assistance provided to developers of newly constructed, single-family housing to address the added costs of constructing housing. In such cases, the total cost of development is likely to exceed the sales price or the appraised fair market value of the housing. Additional costs might include labor, materials and equipment; professional design and construction oversight costs; and required third-party energy efficiency verification and certification costs.
Development subsidies means financial assistance provided to developers of newly constructed, single-family housing to address the added costs of constructing housing. In such cases, the total cost
Examples of Development subsidies in a sentence
Borrower shall promptly notify the County upon ▇▇▇▇▇▇▇▇'s discovery that ▇▇▇▇▇▇▇▇'s rental income and other Development subsidies are insufficient to pay for any or all operating expenses incurred by the Borrower in connection with the operations of the Development.