Contingency Budget Sample Clauses
Contingency Budget. Ten percent, (10%), of the construction budget shall be set aside for the project contingency. When appropriate, CDB may permit the base bid to be designed up to 95 percent of the construction budget for selected projects.
Contingency Budget. In order to ensure that the Carve-Out, if implicated, will be adequately funded, as of 5:00 p.m. on the first Business Day of each week, the Borrowers shall have Aggregate Cash on Hand of at least $15,000,000.
Contingency Budget. The Project Area has two budgets. The Primary Budget is entirely focused on Main Street revitalization, which includes a parking structure to serve small businesses, residents, and other visitors to Main Street. The Primary Budget also includes targeted infrastructure upgrades, powerline relocation, small business loans, an arts center, and other community enhancement programs. The Contingency Budget includes everything from the Primary Budget plus support for a “Large Office Building and adjacent Parking Structure”. A developer is interested in constructing 300,000 square feet of Class A office space the estimated taxable value of which is at least $60,000,000. If, within one year after the Agency must trigger the Project Area to begin collecting Tax Increment (i.e. March 1, 2025) the construction of a single non-residential project with an assessed value of at least $60,000,000 has been commenced (the “Building Benchmark”), the cap on the Tax Increment that may be collected and retained from the School District pursuant to this Agreement is increased from $8,440,000 to $13,808,000 (i.e. this increase shall not affect any other agreement made by the Agency with another Taxing Entity).
Contingency Budget. The consultant has included a 10 percent contingency budget for IS/Addendum and SEIR each. This contingency budget would require prior approval from the City. In the event that the analysis determines that additional technical reports are needed to support the analysis and/or the analysis determines that another type of CEQA document is appropriate (i.e., a standalone Initial Study/Mitigated Negative Declaration), this service contract shall be amended to reflect the additional scope of work.
Contingency Budget budget is essential when planning a bathroom remodel project. It caters to unexpected costs that may arise during the project. The contingency budget is usually 10-20% of the total project budget and alleviates financial strain resulting from changes in the project is design or unexpected conditions discovered once the project begins.