Major renovations definition

Major renovations means new construction or facility improvements to an existing licensed and certified nursing facility in which the total depreciable asset value of the new construction or facility improvements exceeds $1.5 million. The $1.5 million threshold shall be calculated based on the total depreciable asset value of new construction or facility improvements placed into service during a two-year period ending on the date the last asset was placed into service. When the property costs of an asset have been included in a facility’s financial and statistical report that has already been used in a biennial rebasing, the costs of that asset shall not be considered in determining whether the facility meets the $1.5 million threshold.

Major renovations means construction or facility improvements to a nursing facility in which the total amount expended exceeds one million five seven hundred fifty thousand dollars.

Major renovations means a contemporaneously made set or series of alterations, additions and/or improvements to the Hotel with a total cost in excess of $100,000 (or a lesser amount in the event a project with a total cost less than $100,000 requires material design and purchasing and installation services related thereto and/or results in a material alteration in the design of the Hotel), but shall not include any Repairs or Maintenance with respect to Capital Improvements or FF&E.

Examples of Major renovations in a sentence

• NC Version 2.2-[2009], LEED (Leadership in Energy and Environmental Design): Green Building Rating System Reference Package For New Construction and Major Renovations.

• Major Renovations of buildings are defined as projects that require 100% replacement of mechanical, electrical, and plumbing systems and replacement of over 50% of all non-shell areas (interior walls, doors, floor coverings, and ceiling systems) will at a minimum comply with III.A.1.d. or III.A.1.e. Such projects will outperform CBC Title 24, Part 6, currently in effect, by 20%.

• In the event that Owner elects to perform Major Renovations to the Hotel, the oversight of the performance of the Major Renovations shall be placed to bid, it being agreed that the Manager or its Affiliates may participate in any such bidding process.

• All privatized development of New Buildings or Major Renovations on University- owned land that is constructed in whole or in substantial part for University-related purposes (i.e., in furtherance of the University’s mission, both programmatic and auxiliary uses), and build-to-suit projects not on University-owned land constructed for University-related purposes, will comply with section III.A. of this Policy.

• Intangibles such as patents and copyrights are recorded at a nominal amount of one dollar in the year the patent or copyright is obtained.Amortization is calculated on a straight-line basis over an assets’ estimated useful life as follows: Buildings and Major Renovations 15-50 yearsComputer Hardware and Electronics 5-10 yearsFurniture and Equipment 10 yearsLibrary Books 10 yearsParking Lots 20 yearsVehicles 5 yearsEquipment acquired under a capital lease is amortized over the useful life of the asset.

More Definitions of Major renovations

Major renovations means new construction or facility improvements to an existing licensed and certified nursing facility in which the total depreciable asset value of the new construction or facility improvements exceeds $1.5 million. The $1.5 million threshold shall be calculated based on the total depreciable asset value of new construction or facility improvements placed into service during a

Major renovations means, with respect to a Hotel Property, Renovations (including all Renovations that are part of an overall plan or that are similar or related to other Renovations, even though not performed at the same time) that (a) have resulted in, or are reasonably expected to result in, more than twenty-five percent (25%) of the rooms in such Hotel Property not being available for occupancy for a period of more than sixty (60) days, (b) have a projected cost that exceeds forty percent (40%) of the Book Value of such Hotel Property (as determined prior to the commencement of such Renovations) or (c) have resulted in, or are reasonably expected to result in, a reduction of Net Operating Income of such Hotel Property of thirty percent (30%) or more during any period of twelve (12) consecutive months (as compared to the period of twelve (12) consecutive months immediately prior to the commencement of such Renovations).

Major renovations means, with respect to a Hotel Property, Renovations (including all Renovations that are part of an overall plan or that are similar or related to other Renovations, even though not performed at the same time) that (a) have resulted in, or are reasonably expected to result in, more than twenty-five percent (25%) of the rooms in such Hotel Property not being available for occupancy for a period of more than sixty (60) days, (b) have a projected cost that exceeds thirty percent (30%) of the Book Value of such Hotel Property (as determined prior to the commencement of such Renovations) or (c) have resulted in, or are reasonably expected to result in, a reduction of Net Operating Income of such Hotel Property of thirty percent (30%) or more during any period of twelve (12) consecutive months (as compared to the period of twelve (12) consecutive months immediately prior to the commencement of such Renovations).

Major renovations means Renovations (including all Renovations that are part of an overall plan or that are similar or related to other Renovations, even though not performed at the same time) that (a) have resulted in, or are reasonably expected to result in, more than twenty-five percent (25%) of the rooms at the Property not being available for occupancy for a period of more than sixty (60) days, (b) have a projected cost that exceeds twenty percent (20%) of the Appraised Value of the Property (as determined prior to the commencement of such Renovations) or (c) have resulted in, or are reasonably expected to result in, a reduction of Net Operating Income of the Property of twenty percent (20%) or more during any period of twelve (12) consecutive months (as compared to the period of twelve (12) consecutive months immediately prior to the commencement of such Renovations).

Major renovations means the alterations and additions to the Lot and common property described and shown in the Plans being ;

Major renovations means the renovation of a building where the total cost of the renovation of the building envelope or the technical services is higher than 25% of the value of the building, excluding the value of the land upon which the building is situated;

Major renovations means construction or facility