Eligible indirect costs definition
Eligible indirect costs means, except as provided in the last sentence of this definition, the sum of all other incurred capitalized costs (in amounts no higher than those prevailing in the locality of the project) necessary for the construction of a capital improvement. Eligible indirect costs may include, without limitation, the costs of (if capitalized in accordance with GAAP and in amounts no higher than those prevailing in the locality of the project): architectural and engineering fees for plans, plan checks; surveys to
Eligible indirect costs means, for each Mortgaged Property, the lesser of (i) the Indirect Costs with respect to such Mortgaged Property, and (ii) the amount budgeted, in the aggregate, for Indirect Costs as shown on the Budget for such Mortgaged Property (including any contingency for Indirect Costs shown on such Budget).
Eligible indirect costs means, except as provided in the last sentence of this definition, the sum of all other incurred capitalized costs (in amounts no higher than those prevailing in the locality of the project) necessary for the construction of a capital improvement. Eligible indirect costs may include, without limitation, the costs of (if capitalized in accordance with GAAP and in amounts no higher than those prevailing in the locality of the project): architectural and engineering fees for plans, plan checks; surveys to establish building lines and grades; environmental studies; if the project is financed, the points, fees or service charges and interest on construction loans; all risk insurance expenses and ad valorem taxes during construction. The actual capitalized administrative expenses (in amounts no higher than those prevailing in the locality of the project) of the Concessioner for direct, on-site construction inspection are eligible indirect costs. Other administrative expenses of the Concessioner are not eligible indirect costs.
Examples of Eligible indirect costs in a sentence
Eligible indirect costs may include those costs incurred by the grantee to administer the grant, such as: • Office space • Utilities not at project site for purposes of project • Legal or management oversight • Prorated general liability, Workers' Compensation (may be included in payroll), and automotive insurance The funding will pay for eligible in-direct costs of up to 20% of the total requested amount.
Eligible indirect costs shall be declared on the basis of a flat rate of maximum 7% of the total eligible direct costs.