Examples of Project Development Budget in a sentence
Participating Parties shall carry out their responsibilities in Attachment A to this NLRP Regulatory Agreement and the Corporation shall carry out its obligation to advance CDBG Funds in accordance with the Qualified Project Development Budget set forth in Attachment B of this NLRP Regulatory Agreement.
The Developer will submit a Project Development Budget, which shall be incorporated into this Agreement as Exhibit B after the City’s Finance Director and NDR Program Manager or designees determines it is acceptable to the City and provide written notice to the Developer of approval.
Developer shall revise the Project Proposal and financial documentation to include a consistent amount of NDR funds requested for the Project, which may not exceed $4,750,000; provide the correct total Project cost; provide a detailed Project Development Budget as set forth in paragraph IV(E)(1) of this Agreement; provide a revised square footage detail by unit #, number of BRs, unit sq.
Using the Project Development Budget, the appraisal, and other data, Developer shall develop a Project Document that will provide development monitors and HUD auditors a single source document to readily understand the development costs, other sources and uses of non-CDBG funding, any contributed capital, developer equity, and other building costs, prior to the release of any CDBG- NDR Funds.
The Project Development Budget is a key element of the Project Plan for building out the project.
The Project Development Budget shall identify allowable architectural fees, construction management fees, contractor profit and overhead and contractor general requirements which should be part of the required soft costs disclosure of the Project Development Budget described on Exhibit B, attached hereto.
Developer shall submit a monthly Draw Request, which will be in such form as to (1) identify Eligible Project Costs to be reimbursed as described and approved in the Project Development Budget; and (2) attach proof of payments, materials, equipment, supplies delivered to the project site, services provided, and certification of work completed, and any related information to support the eligibility of the draw request for reimbursement.
Included in the Project Proposal shall be a Project Development Budget, which shall be incorporated into this Agreement as Exhibit B after the City’s Finance Director and XX Xxxxx Program Manager determine it is acceptable to the City and provide written notice to the Developer of approval.
The Parties and/or their Affiliates shall be entitled to reimbursement for all costs incurred which are in accordance with the Project Development Budget.
Borrower shall not enter into or carry on any business, activity or undertaking or incur any liabilities or have any interest in any asset or income, either alone or in partnership or in joint venture with any other person, other than the Project or make, or agree to make, any acquisition unless such acquisition is made by Borrower in the ordinary course of business and as contemplated by the Project Development Budget or, as the case may be, the then current Operating Budget.