Qualified Development Costs definition

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 has the meaning given to the term “Qualified Project Costs” in the Regulatory Agreements.
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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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Examples of Qualified Development Costs in a sentence

  • 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.

  • In order to make the development of the Senior Housing Units economically feasible, the Authority shall reimburse the Developer for Qualified Development Costs in the maximum amount of $3,600,000.

  • 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.

  • In order to reimburse the Developer for a portion of the Qualified Development Costs related to development of the Senior Housing Units on the TIF District Property, the Authority shall issue and Developer shall purchase, for the consideration outlined herein, the TIF Note in the maximum principal amount of $3,218,000 in substantially the form set forth in EXHIBIT E attached hereto.

  • The Authority and the Developer agree that the TIF Note shall be issued in consideration of the Developer paying the Qualified Development Costs.

  • If the total Qualified Development Costs exceed the principal amount of the TIF Note, such excess is the sole responsibility of Developer.

  • 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 Authority proposes to assist in financing the Qualified Development Costs in accordance with the terms of this Agreement to further the objectives of the Development Program.


More Definitions of Qualified Development Costs

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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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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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 sum of the following costs and expenses incurred by the Parties or their respective Affiliates, in Commercializing the Shared Products (and related Manufacturing activities) in the Territory, in each case, to the extent incurred in accordance with the Commercialization Plan and Commercialization Budget:

  • 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.”

  • medium term expenditure framework ’ means a budgeting framework applied by the National Treasury which—

  • Cluster development means a contiguous cluster or

  • 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.

  • 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 shall have the meaning set forth in Section 3.3.

  • 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.

  • Independent expenditure means an expenditure by a person: