Substantial improvements means any renovation, rehabilitation, reconstruction, or construction of the existing improvements, including minimum requirements for off-site and on-site improvements, the cost of which equals or exceeds thirty per cent of the market value of the existing improvements that the lessee or the lessee and developer install, construct, and complete by the date of completion of the total development.
Substantial improvements means any repair, reconstruction, or improvement of a structure, the cost of which equals or exceeds fifty (50) percent of the market value of the structure either before the improvement or repair is started, or if the structure has been damaged and is being restored, or before the damage occurred. For the purposes of this definition, “substantial improvement” is considered to occur when the first alteration of any wall, ceiling, floor, or other structural part of the building commences, whether or not that alteration affects the external dimensions of the structure. However, this term does not include: any project for improvement of a structure to comply with existing state or local health, sanitary, or safety code specifications which are solely necessary to assure safe living conditions, or any alteration of a structure listed on the National Register of Historic Places or a State Inventory of Historic Places.
Substantial improvements means renovation, reconstruction, and refurbishment occurring to further a change in the use and/or class of an improvement or that will add 25% or more to the contributory value of an improvement to the property. This term does not include normal maintenance on an improvement intended to only maintain its existing utility.
Examples of Substantial improvements in a sentence
Substantial improvements in market access will be achieved for all products.
Substantial improvements or structural alterations made to an existing building that increase the floor area by more than twenty percent (20%) or equal or exceed the market value by fifty percent (50%).
Substantial improvements may not include paved trails, sidewalks, parking areas, or bulkheads.
Substantial improvements may include developed public infrastructure (roads, railroads, dikes, and levees) and buildings.
Note: Substantial improvements that are located within floodplains must meet the standards detailed in the Mason County Flood Ordinance, which may include submitting a Habitat Assessment or Habitat Management Plan.
More Definitions of Substantial improvements
Substantial improvements means any renovation,
Substantial improvements means improvements worth more than 50 percent of the assessed value of the original building(s).
Substantial improvements means any repair, reconstruction or improvement of a structure, the cost of which equals or exceeds 50 percent of the market value of the structure either,
Substantial improvements means any individual or series of related Additions and Capital Repairs (A) of a nature that are not ordinarily included within an annual capital repair plan described in Section 4.3(G) and (B) the aggregate cost of which exceeds $25,000,000. "Substantial Improvements" expressly excludes the Work (as defined in the Design and Construction Agreement).
Substantial improvements means any reconstruction, rehabilitation, addition, or other improvement of a structure, the cost of which equals or exceeds fifty percent (50%) of the market value of the structure before start of construction of the improvement. This term includes structures which have incurred substantial damage, regardless of the actual repair work performed. The term does not, however, include either (1) any project for improvement of a structure to correct existing violations of state or local health, sanitary, or safety code specifications that have been identified by the local code enforcement official and which are the minimum necessary to assure safe living conditions, or(2) any alteration of a “historic structure,” provided that the alteration will not preclude the structure’s continued designation as a “historic structure.”
Substantial improvements means any repair, reconstruction, or improvement of a structure, the cost of which equals or exceeds 50 percent of the market value of the structure either: (1) before the improvement or repair is started, or (2) if the structure has been damaged and is being restored, before the damage occurred. For the purpose of this definition, “substantial improvement” is considered to occur when the first alteration of any wall, ceiling, floor, or other structural part of the building commences, whether or not that alteration affects the external dimensions of the structure.
Substantial improvements means any development and/or construction of a structure, the cost of which equals or exceeds either fifty percent (50%) of the market value of the structure before the development is started, or, if the development or construction is undertaken for repair of damage caused by accident or acts of God, fifty percent (50%) of the same market value of the structure before the damage occurred.