Reimbursable Project Costs definition

Reimbursable Project Costs means all actual and reasonable costs and expenses which are incurred by or at the direction of the Developer or the District with respect to the construction of the CID Project, including the actual and reasonable cost of labor and materials payable to contractors, builders, suppliers, vendors and materialmen in connection with the construction contracts awarded for the CID Project that is constructed or undertaken by the Developer, plus all actual and reasonable costs to plan, finance, develop, design and acquire the CID Project, and the ongoing administration of the District, including but not limited to the following:

Reimbursable Project Costs means any and all costs allowed to be reimbursed out of by this Agreement, the Redevelopment Plan, and the Redevelopment Powers Law (O.C.G.A. §36-44-3(8), incurred by the Owner, Owner’s Affiliates, any Vertical Owner, any successor and assign of Owner, any Person succeeding to all or a portion Owner’s development interests in the Project, and/or any other Person performing Vertical Development (including parking and horizontal construction), but shall be limited to hard, soft, construction management and other costs directly relating to the Project and shall not include any corporate overhead, corporate costs, Owner’s fees or Owner’s profits not directly related to the Project, or costs for goods, services or materials that exceed the market cost for similar items in the MSA as adjusted for all relevant factors (and it shall be deemed concluded that the costs for goods, services or materials do not exceed the market cost for similar items in the MSA if such goods, services or materials, as applicable, are supported by a competitive bidding process that solicited at least three (3) conforming bids). For the avoidance of doubt, a Redevelopment Cost shall not be considered a Reimbursable Project Cost if its reimbursability pursuant hereto is, (a) excluded by the provisions of Article IX, below, or (b) limited by a limitation contained in Article IX, below, or another provision hereof, but only to the extent by which it exceeds such limitation.

Reimbursable Project Costs means the reasonable and necessary expenditures, including Soft Costs, documented in accordance with this Agreement for the District Improvements constructed or otherwise provided by the District and shown on Exhibit B attached hereto and made a part hereof.

Examples of Reimbursable Project Costs in a sentence

• Subject to the terms of this Agreement and the conditions in this Section, and provided that no Developer Event of Default has occurred hereunder that has not been timely cured, then the Unified Government hereby agrees to reimburse Developer for Reimbursable Project Costs on a "Pay As You Go" basis in a total amount not to exceed the Reimbursable Project Costs Cap.

• Notwithstanding any other term or provision of this Agreement, the Unified Government's obligation to reimburse the Developer for Reimbursable Project Costs shall be limited to available Real Property Tax Revenues and shall not be payable from any other source.

• Such administrative fees shall have priority over reimbursement of Reimbursable Project Costs but shall not be applied to the Reimbursable Project Costs Cap.

• Prior to the calculation of the first bi- annaul reimbursement in any calendar year of any Reimbursable Project Costs to Developer as set forth herein from time to time, the parties hereby agree that the Unified Government shall first pay itself an administrative fee of $2,000 for such calendar year (the “Unified Government Administrative Fee”).

• Though neither party has given the other any assurances or guarantees regarding the Real Property Tax Revenues or reimbursements to be paid pursuant to the terms of this Agreement, the parties hereby agree that the Reimbursable Project Costs Cap and the incentives set forth herein were based upon the estimated reimbursable project costs set forth in Exhibit F, attached hereto.

More Definitions of Reimbursable Project Costs

Reimbursable Project Costs means those costs of the TIF Project as described in Exhibit E attached hereto and incorporated by reference herein, which are eligible for reimbursement or payment from Tax Increment under the RDC Act in accordance with this Agreement.

Reimbursable Project Costs shall include those costs, fees and expenses directly related to the design, development and construction of the Facility or Facilities incurred in connection with the performance of this Agreement, including, without limitation, costs and expenses incurred in connection with: (i) satisfaction of all of the conditions to the Effective date and of all Legal Requirements for the design, development, financing, construction, operation and management of the Facility or Facilities pursuant to and in accordance with the terms and provisions of this Agreement, (ii) site and Facility planning, (iii) architectural renderings, plans and working documents, (iv) engineering and environmental services, (v) working drawings, (vi) construction contract bidding, (vii) COPR legal and consultant costs, (viii) Project management costs, and (ix) all other pre-construction professional costs. Except as specifically set forth in this Agreement to the contrary, no costs or expenses of STWC or its Affiliates, or their employees, such as, without limitation, overhead or general and administrative expenses, or attorneys' fees shall be included as Reimbursable Project Costs, all such costs or expenses shall be paid and borne only by STWC and its Affiliates.

Reimbursable Project Costs has the meaning set forth in Section 1.8.

Reimbursable Project Costs means all Project Costs excluding the following:

Reimbursable Project Costs means only those costs associated with the Public Improvements and which the C ity has agreed to pay under the Agreement.

Reimbursable Project Costs the portion of Redevelopment Project Costs which, pursuant to the Plan and this Agreement are eligible for payment or reimbursement from TIF Revenue, as shown on Exhibit C and further described in Section 21.

Reimbursable Project Costs means all actual and reasonable costs and expenses that are incurred by or at the direction of the Developer, acting as agent of the District, including but not limited to the following: