Predevelopment Budget Sample Clauses

Predevelopment Budget. Morgans and Xxxx agree that, notwithstanding anything to the contrary contained in the Operating Agreement, each Member shall fund fifty percent (50%) of the Predevelopment Costs (which fifty percent (50%) amount shall not exceed $418,713.84 for each Member) set forth in the revised 9/19/08 Predevelopment Budget covering the period from October 1, 2008 through December 31, 2009, which Predevelopment Budget is hereby approved by the Parties and supersedes any prior Predevelopment Budget. The amounts set forth in such revised Predevelopment Budget shall be funded pursuant to Capital Calls issued in accordance with the terms of the Operating Agreement; provided, however, the Members agree that any amounts required to be funded by either Member pursuant to any pending or future Capital Call Notice shall be netted against any funds required to be paid to any such Member (or its affiliates) by the other Member or the Company in respect of the cost items described in such Capital Call Notice, such that the Members shall only be required to fund a Capital Call if and to the extent that the amount to be reimbursed to such Member for cost items described in such Capital Call Notice is less than fifty percent (50%) of the amounts requested in the Capital Call Notice.
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Predevelopment Budget. In addition to any other rights of Lender hereunder, any material change to the Predevelopment Budget or the Business Plan shall require the prior approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed.
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Predevelopment Budget. Southside Revitalization Phase 1 LP 8/15/2011 Budget Breakdown (City funded)
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Predevelopment Budget. See Attached STEINWAY | 100 Xxxx 00xx Xxxxxx Pre Development Budget JDS Development Group / PMG Pre Development Budget Pre Development Total Project Costs Acquisition costs $ 254,800,000 $ 254,800,000 Cost of land $ 254,800,000 $ 254,800,000 Demolition $ 4,000,000 $ 4,000,000 Asbestos Abatement $ 500,000 $ 500,000 Foundation $ 3,643,955 $ 4,500,000 Total Construction Costs $ 8,143,955 $ 249,240,350 Architecture $ 4,500,000 $ 6,500,000 Engineers $ 1,750,000 $ 3,250,000 Consultants $ 1,250,000 $ 1,640,000 Total Soft Costs $ 7,500,000 $ 52,500,000 Financing costs – Acquisition and Construction Construction Loan Financing Fees (Construction) $ - $ 4,200,000 Interest Reserve (Construction) $ - $ 22,500,000 Mortgage Recording Tax (Construction) $ - $ 5,200,000 Title Insurance (Construction) $ - $ 1,414,000 Mortgage Broker Fee (Construction) $ - $ 1,616,000 Lender Legal (Construction) $ - $ 500,000 Borrower Legal (Construction) $ - $ 400,000 Due Diligence (Construction) $ - $ 200,000 Bridge Loan Closing Costs (Acquisition) $ 2,555,556 $ 2,555,556 Interest (Acquisition) $ 23,319,444 $ 28,750,000 Extension Fee (Acquisition) $ 1,150,000 $ 1,150,000 Exit Fee (Acquisition) $ - $ 2,300,000 Mortgage Recording Tax (Acquisition) $ 5,233,193 $ 5,233,193 Title Insurance and Fees (Acquisition) $ 2,210,549 $ 2,210,549 Mortgage Broker Fee (Acquisition) $ 1,150,000 $ 1,150,000 Debt Broker Fee $ 1,437,500 $ 1,437,500 Lender Legal (Acquisition) $ 750,000 $ 750,000 Due Diligence (Acquisition) $ 1,300,000 $ 1,300,000 Borrow Legal (Acquisition) $ 1,149,803 $ 1,149,803 $ 40,256,045 $ 84,016,601 Real Estate Tax Reserves $ 2,850,000 $ - Insurance Reserve $ 450,000 $ - Lease Buyout Deductable $ 1,000,000 $ - Total Uses: $ 315,000,000 $ 640,556,951 Schedule 6 Business Plan See Attached JDS Development Group / PMG STEINWAY | WEXX 00XX XXXXXX Preliminary Development Business Plan Summary JDS Development Group ("JDS") and Property Markets Group ("PMG") (together the "Developer(s)" and/or "Sponsor(s)") are acquiring the two adjacent development sites located at 105 – 110 Xxxx 00xx Xxxxxx, Xxx Xxxx, XX (the "Property" and/or "Project") with plans to build an approximate combined 346,000 gross square foot luxury residential tower, hotel and retail project. The preliminary development plans call for a newly built high-rise luxury residential tower reaching approximately 900-feet high, providing full floor units with views of Central Park and the New York City skyline. In addition, the Sponsors ...
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Predevelopment Budget. Revisions to Budget 5 Section 2.5 Security 5
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Predevelopment Budget. Before receiving HUD's written approval of the Supplemental Submissions, the Grantee may submit a predevelopment budget ("Predevelopment Budget") for the purpose of requesting HOPE VI Grant funds for predevelopment costs. Upon written approval by HUD of the Predevelopment Budget (with any modifications required by HUD), funds may be drawn down for eligible Predevelopment Costs (as defined in subparagraph (2) below), subject to the requirement for an environmental review under Article VIII(B), in accordance with the provisions of this Grant Agreement.
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Related to Predevelopment Budget

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount. 2. Contractor will further notify the Human Services Agency of transfers that in the aggregate equal or exceed twenty percent (20%) of the maximum contract amount. In the event the Director of the Human Services Agency or her designee determines said transfer of twenty percent (20%) or more is inconsistent with the goals and objectives of the County Alcohol and Drug Services, she may require a re-negotiation of the Agreement.

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during each calendar month of the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment B. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

  • Business Plan and Budget To the extent requested by any Initial Lender, as soon as available, but in any event within thirty (30) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form satisfactory to such Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a monthly basis for the immediately following fiscal year. As to any information contained in materials filed with the SEC or furnished pursuant to Section 6.2(f), the Borrower shall not be separately required to furnish such information under Section 6.1(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.1(a) and (b) above at the times specified therein.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • Construction Budget The total amount indicated by the District for the Project plus all other costs, including design, construction, administration, financing, and all other costs.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Approved Budget 3.1.2. Written detailed description of the Project;

  • Timeline Contractor must perform the Services and deliver the Deliverables according to the following timeline: • •

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