Federally Assisted Construction Contract definition
Federally Assisted Construction Contract shall have the meaning specified in 41 C.F.R. § 60-1.3, which is provided here for ease of reference: (“[A]ny agreement or modification thereof between any applicant and a person for construction work which is paid for in whole or in part with funds obtained from the Government or borrowed on the credit of the Government pursuant to any federal program involving a grant, contract, loan, insurance, or guarantee, or undertaken pursuant to any federal program involving such grant, contract, loan, insurance, or guarantee, or any application or modification thereof approved by the government of the United States of America for a grant, contract, loan, insurance, or guarantee under which the applicant itself participates in the construction work.”).
Federally Assisted Construction Contract means any agreement or modification thereof between any applicant and a person for construction work which is paid for in whole or in part with funds obtained from the Government or borrowed on the credit of the Government pursuant to any Federal program involving a grant, contract, loan, insurance, or guarantee, or undertaken pursuant to any Federal program involving such grant, contract, loan, insurance, or guarantee, or any application or modification thereof approved by the Government for a grant, contract, loan, insurance, or guarantee under which the applicant itself participates in the construction work.
Federally Assisted Construction Contract means, in the context of CDBG-DR funds used for multifamily housing developments that include eight (8) or more dwelling units, the use of CDBG-DR funds to pay for construction contract costs, construction loan principal or interest, charges or fees to reduce the interest rate on a construction loan, or any other financing mechanism that pays for construction contracts, including provision of funds for permanent financing following construction. Pursuant to HUD’s Factors of Labor Standards Applicability, CDBG-DR funds used for real property acquisition, architectural and
Examples of Federally Assisted Construction Contract in a sentence
If this Contract is not a Federally Assisted Construction Contract exceeding $10,000, the provisions of Section I.A. of this Addendum shall not apply.
If this Contract is not a Federally Assisted Construction Contract exceeding $10,000, the provisions of Section I(a) of this Addendum shall not apply.
More Definitions of Federally Assisted Construction Contract
Federally Assisted Construction Contract means any agreement or modification thereof between any applicant and a person for construction work which is paid for in whole or in part with federal funds. 41 CFR § 60-1.3. "Construction work" means the construction, rehabilitation, alteration, conversion, extension, demolition or repair of buildings, highways, or other changes or improvements to real property, including facilities providing