Preliminary Expenditures definition

Preliminary Expenditures means any Capital Expenditures that are “preliminary expenditures” within the meaning of Regulations §1.150-2(f)(2), i.e., architectural, engineering, surveying, soil testing, reimbursement bond issuance, and similar costs that are incurred prior to commencement of acquisition, construction, or rehabilitation of a project other than land acquisition, site preparation, and similar costs incident to commencement of construction. The aggregate amount of Preliminary Expenditures may not exceed 20% of the aggregate Issue Price of the issue or issues that financed or are reasonably expected to finance the project for which such Preliminary Expenditures are or were incurred.

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Preliminary Expenditures means: (a) costs incurred for architectural, engineering, surveying, soil testing, costs of issuance, and similar costs prior to commencement of acquisition, construction, or rehabilitation of the Financed Improvements, other than land acquisition, site preparation, and similar costs incident to commencement of construction of the Financed Improvements up to an amount not in excess of 20 percent of the issue price of the Bonds; and (b) costs incurred in an amount not in excess of the lesser of $100,000 or 5% of the sale proceeds of the Bonds.

Preliminary Expenditures means costs such as architectural, engineering, surveying, soil testing, and similar costs for the Project that, in the aggregate, are not in excess of 20% of the Grant Amount. Costs of land acquisition, site preparation and similar costs incident to commencement of construction are NOT preliminary expenditures.

Examples of Preliminary Expenditures in a sentence

The Parties agree that the Preliminary Expenditures are a cost of the Project and are subject to the cost sharing percentages set forth in Section IX.1 through IX.3.
Preliminary Expenditures including engineering, survey, soil testing and similar costs are not subject to the Resolution requirement.
Except as described in (i) below, and except in the case of Preliminary Expenditures, this Reimbursement Allocation is being made within 18 months after the later of (i) the date on which the Reimbursed Expenditure was paid, or (ii) the date on which the property relating to the Reimbursed Expenditure was placed in service or abandoned, but in no event more than three years after the Reimbursed Expenditure was paid.
Until the Conditions Precedent have been satisfied, the City and the Developer shall each be responsible for payment of their respective Preliminary Expenditures.
The City agrees to issue TIF Bonds, subject to the provisions and restrictions of the TIF Act, in a principal amount to provide net proceeds of not to exceed $2,500,000 for payment of Public Infrastructure Improvements and Preliminary Expenditures that are eligible “redevelopment project costs” as said term is defined in the TIF Act.

More Definitions of Preliminary Expenditures

Preliminary Expenditures means costs such as architectural, engineering, surveying, soil testing, and similar costs that, in the aggregate, are not in excess of 20% of the project issuance amount. Costs of land acquisition, site preparation and similar costs incident to commencement of construction are not Preliminary Expenditures.

Preliminary Expenditures means those expenditures by the City or Developer with respect to the Project Plan, this Agreement and the Project Site.

Preliminary Expenditures means architectural, engineering, surveying, soil testing, Costs of Issuance and similar costs that were incurred prior to commencement of the acquisition, construction and installation of the Project, but do not include any costs related to land acquisition, site preparation and similar costs incident to commencement of construction.

Preliminary Expenditures means architectural, engineering, surveying, soil testing, costs of issuing the Bonds, and similar costs paid with respect to the Project in an aggregate amount not exceeding 20% of the issue price of the Bonds. However, Preliminary Expenditures do not include land acquisition, site preparation or similar costs incident to the commencement of construction.

Preliminary Expenditures means architectural, engineering, surveying, soil testing, reimbursement bond issuance, and similar costs that are incurred prior to commencement of acquisition, construction, or rehabilitation of a project, other than land acquisition, site preparation, and similar costs incident to commencement of construction; provided, however, that such expenditures in the aggregate are not in excess of 20% of the aggregate issue price of the Bonds, all within the meaning of Treasury Regulation, § 1.150-2(f)(2).