Qualified Development Costs definition

Qualified Development Costs. Development Costs, but only to the extent that such costs were paid or incurred after July 13, 1984, and only to the extent that such costs were charged to the respective Development's capital account or were so chargeable either with a proper election or but for a proper election to deduct such costs, within the meaning of Treasury Regulation 1.103 8(a)(1), as the same may be amended from time to time.
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Qualified Development Costs has the meaning given to the term “Qualified Project Costs” in the Regulatory Agreements.
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Qualified Development Costs means Development Costs that meet each of the following requirements: (i) the costs are properly chargeable to capital account (or would be so chargeable with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs) in accordance with general Federal income tax principles and in accordance with United States Treasury Regulations §1.103-8(a)(1), provided, however, that only such portion of interest accrued during acquisition and rehabilitation of the Development shall be eligible to be a Qualified Development Cost as is so capitalizable and as bears the same ratio to all such interest as the Qualified Development Costs bear to all Development Costs; and provided further that interest accruing after the date of completion of the rehabilitation of the Development shall not be a Qualified Development Cost; and provided still further that if any portion of the Development is being rehabilitated by an Affiliate (whether as a general contractor or a subcontractor), Qualified Development Costs shall include only (A) the actual out-of-pocket costs incurred by such Affiliate in rehabilitating the Development (or any portion thereof), (B) any reasonable fees for supervisory services actually rendered by the Affiliate, and (C) any overhead expenses incurred by the Affiliate which are directly attributable to the work performed on the Development, and shall not include, for example, intercompany profits resulting from members of an affiliated group (within the meaning of Section 1504 of the Code) participating in the rehabilitation of the Development or payments received by such Affiliate due to early completion of the Development (or any portion thereof); (ii) the costs are paid with respect to a qualified residential rental project or projects within the meaning of Section 142(d) of the Code, (iii) the costs are paid after the date which is 60 days prior to March 15, 2011, and (iv) if the Development Costs were previously paid and are to be reimbursed with proceeds of the Bonds, such costs were (A) costs of issuance of the Bonds, (B) preliminary capital expenditures (within the meaning of United States Treasury Regulations §1.139-2(f)(2)) with respect to the Development (such as architectural, engineering and soil testing services) incurred before commencement of the acquisition or rehabilitation of the Development that do not exceed twenty percent (20%) of the issue price of the Bonds (as defined in United States Treasury ...
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Examples of Qualified Development Costs in a sentence

  • Section 3.1. Status of TIF District Property 9Section 3.2. Environmental Conditions 9Section 3.3. Minimum Improvements and Infrastructure Improvements 9Section 3.4. Development of Skilled Nursing Units 10Section 3.5. Reimbursement of Qualified Development Costs 10Section 3.6. Issuance of TIF Note 11Section 3.7. Reduction of TIF Note 12Section 3.8. Sale of Restaurant Parcel or Commercial Parcel 12Section 3.9. City Development Agreement 13Section 3.10.

  • If Evolve elects to fund such amounts, Evolve shall contribute the amount required to fund such equipment order to the Project HoldCo and be awarded Class A Units for such contributions, and such amounts shall not be Qualified Development Costs.

  • At all times, the aggregate disbursements of the proceeds of the Loan will have been applied to pay or to reimburse the Borrower for the payment of Qualified Development Costs in an amount equal to ninety-seven percent (97%) or more of such disbursements, and less than twenty-five percent (25%) of such disbursements shall have been used to pay for the acquisition of land or an interest therein.

  • At least 97% of the proceeds of the Bonds used to fund the Loan will be used to pay or reimburse the Borrower for Qualified Development Costs and less than 25% of such amounts will be used to pay or reimburse the Borrower for the cost of land or any interest therein.

  • Qualified Development Costs include land acquisition for the independent living and assisted living units, demolition on the land for the independent living and assisted living units, the costs of constructing the underground parking related to the independent living and assisted living units, and the costs of constructing the independent living and assisted living units.

  • The Estimated Closing Adjustment shall take into account only those Qualified Development Costs that have been paid by or on behalf of Seller prior to the Closing.

  • The Closing Date Schedule shall take into account all Qualified Development Costs that have been paid after February 28, 2010 and prior to the delivery of the Closing Date Schedule, provided that the costs, fees, and expenses related thereto were incurred after February 28, 2010 and prior to the Closing.

  • In accordance with the Development Budget, the Borrower will use the proceeds of the Bonds solely for the purpose of paying for Qualified Development Costs.

  • To the extent any of the Commitments have been drawn by a beneficiary at or prior to Closing, the Purchase Price shall be increased (i) pursuant to the Closing Adjustment, by the amount of any Qualified Development Costs paid from the amounts so drawn, and (ii) by the amount so drawn, so long as such amounts are held in the form of cash or cash equivalents.

  • Upon request, Parent shall make available to Purchaser evidence of payment of all Qualified Development Costs reflected on the Closing Schedule.


More Definitions of Qualified Development Costs

Qualified Development Costs means the costs of acquiring land within the TIF District in the maximum amount of $487,000, demolition and remediation directly related to the Senior Housing Units, parking improvements related to the Senior Housing Units, and costs of constructing the Senior Housing Units.
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Qualified Development Costs means all costs, fees and expenses (x) in the case of the Estimated Closing Adjustment, paid by or on behalf of any Seller after February 28, 2010 and prior to the Closing, and (y) in the case of the Closing Date Schedule, paid, incurred or accrued by or on behalf of any Seller after February 28, 2010 and prior to the Closing, which (with respect to such incurred or accrued items) are paid prior to the delivery of the Closing Date Schedule, in each case, relating to the construction or improvement of Scheduled Real Property that are properly capitalized in accordance with generally accepted accounting principles, but excluding any interest expense or overhead expenses (except in the case of the Real Property listed on Schedule 1.1(g), with respect to which payments of interest expense paid by the Sellers in connection with the acquisition of such property shall be included), provided that such costs, fees, and expenses with respect to any phase of construction, on an aggregate basis, shall not exceed 103% of the applicable amount for such phase of construction set forth on the construction budget attached hereto as Schedule 1.1(h) (and subject to any subsequent changes thereto on account of customer change orders and other adjustments to homes under construction, in each case to the extent there is a corresponding increase in the sale price of the applicable home, or the conversion of model homes).
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Qualified Development Costs has the meaning given to the term “Qualified Project Costs” in the Regulatory Agreement.
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Related to Qualified Development Costs

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Development Expenses means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.), usual and customary operating and financial costs, such as the compliance monitoring fee, the financial monitoring fee, replacement reserves, the servicing fee and the debt service reserves. As it relates to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.) and to the application of Development Cash Flow described in subsections 67-48.010(5) and (6), F.A.C., as it relates to SAIL Developments or in paragraph 67-48.020(3)(b), F.A.C., as it relates to HOME Developments, the term includes only those expenses disclosed in the operating pro forma on an annual basis included in the final credit underwriting report, as approved by the Board, and maximum of 20 percent Developer Fee per year.

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • Economic Development Property means those items of real and tangible personal property of the Project which are eligible for inclusion as economic development property under the FILOT Act and this Fee Agreement, and selected and identified by the Company or any Sponsor Affiliate in its annual filing of a SCDOR PT-300S or comparable form with the Department (as such filing may be amended from time to time) for each year within the Investment Period.

  • Commercialization Costs means the out-of-pocket costs and expenses incurred by Adapt or its Affiliates directly attributable to, or reasonably allocable to, the Commercialization of a Product. Commercialization Costs for a Product shall include, preparation of promotional, advertising, communication, medical, and educational materials relating to the Product and other Product literature and selling materials, activities directed to marketing of the Product, including purchase of market data, development and conduct of market research, advertising, public relations, public affairs and other communications with Third Parties regarding the Product; development and conduct of sales force training (including materials, programs and travel to and attendance at training programs) for medical representatives responsible for promoting the Product; and development and maintenance of sales bulletins, call reporting and other monitoring/tracking, sales force targeting, validation and alignment programs and documentation.

  • Proved Developed Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves” or (b) “Developed Non-Producing Reserves.”

  • Cluster development means a contiguous cluster or

  • Development Contribution means the amount of money referred to in item 5 of the Schedule;

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • Medical Expense means an expense incurred at the time a past member or his or her health reimbursement account dependent is furnished the medical care or service. To be considered a medical expense under this act, the expense shall meet all of the following conditions:

  • Individual development account means a contract between an account holder and a fiduciary organization, for the deposit of funds into a financial institution by the account holder, and the deposit of matching funds into the financial institution by the fiduciary organization, to allow the account holder to accumulate assets for use toward achieving a specific purpose approved by the fiduciary organization.

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Qualified Project Costs means costs paid with respect to the Project that meet each of the following requirements: (i) the costs are properly chargeable to capital account (or would be a so chargeable with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs) in accordance with general federal income tax principles and in accordance with Section 1.103-8(a)(1) of the Regulations, provided, however, that only such portion of the interest accrued during rehabilitation or construction of the Project (in the case of rehabilitation, with respect to vacated units only) shall be eligible to be a Qualified Project Cost as bears the same ratio to all such interest as the Qualified Project Costs bear to all costs of the acquisition and construction or rehabilitation of the Project; and provided further that interest accruing after the Completion Date (as defined in the Regulatory Agreement) shall not be a Qualified Project Cost; and provided still further that if any portion of the Project is being constructed or rehabilitated by an Affiliate (whether as general contractor or a subcontractor), Qualified Project Costs shall include only (A) the actual out of pocket costs incurred by such affiliate in constructing or rehabilitating the Project (or any portion thereof) and (B) any overhead expenses incurred by such affiliate which are directly attributable to the work performed on the Project, and shall not include, for example, intercompany profits resulting from members of an “affiliated group” (within the meaning of Section 1504 of the Code) participating in the rehabilitation or construction of the Project or payments received by such affiliate due to early completion of the Project (or any portion thereof); (ii) the costs are paid with respect to a qualified residential rental project or projects within the meaning of Section 142(d) of the Code, (iii) the costs are paid after the earlier of 60 days prior to May 20, 2021, being the date on which the Governmental Lender first declared its “official intent” to reimburse costs paid with respect to the Project (within the meaning of Section 1.150-2 of the Regulations) or the date of issue of the Funding Loan, and (iv) if the costs of the acquisition and construction or rehabilitation of the Project were previously paid and are to be reimbursed with proceeds of the Funding Loan such costs were (A) “preliminary expenditures” (within the meaning of Section 1.150-2(f)(2) of the Regulations) with respect to the Project (such as architectural, engineering and soil testing services) incurred before commencement of acquisition and construction or rehabilitation of the Project that do not exceed 20% of the issue price of the Funding Loan (as defined in Section 1.148-1 of the Regulations), or (B) were capital expenditures with respect to the Project that are reimbursed no later than 18 months after the later of the date the expenditure was paid or the date the Project is placed in service (but no later than three years after the expenditures is paid); provided, however, that (w) Costs of Funding shall not be deemed to be Qualified Project Costs;(x) fees, charges or profits (including, without limitation, any Developer Fee) payable to the Borrower or a “related person” (within the meaning of Section 144(a)(3) of the Code) shall not be deemed to be Qualified Project Costs; (y) letter of credit fees and municipal bond insurance premiums which represent a transfer of credit risk shall be allocated between Qualified Project Costs and other costs and expenses to be paid from the proceeds of the Funding Loan; and (z) letter of credit fees and municipal bond insurance premiums which do not represent a transfer of credit risk (including, without limitation, letter of credit fees payable to a “related person” to the Borrower) shall not constitute Qualified Project Costs.

  • Marketing Costs which means such reasonable charge for marketing of ores and concentrates sold or of concentrates tolled as is consistent with generally accepted industry marketing practices;

  • Economic development incentive means a financial incentive,

  • FTE means full-time equated.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Development Budget has the meaning set forth in Section 3.1.

  • Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Integrated Development Plan means a plan formulated and approved as envisaged in Section 25 of the Municipal Systems Act 2000, as amended.