Predevelopment Costs Clause Samples
The Predevelopment Costs clause defines which expenses incurred before the main development phase are recognized and how they are handled between the parties. Typically, this clause outlines the types of costs considered as predevelopment, such as feasibility studies, site surveys, or initial design work, and specifies whether these costs are reimbursable, shared, or solely borne by one party. Its core function is to allocate responsibility for early-stage expenditures, ensuring clarity and preventing disputes over who pays for necessary groundwork before a project formally begins.
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Predevelopment Costs. The Company shall pay all predevelopment Venue Project Costs of professional services of planning, designing, engineering, establishing and developing the Entertainment Center rendered prior to the issuance of the building permit for the Entertainment Center. Once the first building permit is issued for the Entertainment Center, such costs, to the extent they are Venue Project Costs, may be reimbursed from Excess ▇▇▇▇▇▇ HOT Revenues.
Predevelopment Costs. Developer shall bear some of the predevelopment costs relating to actions of Developer under this Agreement, including but not limited to costs for planning, environmental, architectural, engineering and legal services and other costs associated with preparation of Developer's proposal and/or the DDA.
Predevelopment Costs. The Authority will provide the Developer with up to Six Hundred Thousand Dollars ($600,000) of the Authority Grant for predevelopment expenses necessary for due diligence outlined in Section 2.4 and to entitle the Project (“Predevelopment Advance”). The Predevelopment Advance will be used by the Developer to pay for, among other predevelopment expenses, environmental review, remediating any environmental conditions, structural soils analysis, architectural and engineering plans, and all fees and expenses required by the City in connection with obtaining the land use and other entitlements required to develop and operate the Project. The Parties acknowledge and agree that the Authority shall deposit the Predevelopment Advance funds with First American Title Company (“Escrow Holder”), who shall be responsible for disbursing said funds to the Developer. The Parties further agree that the Authority, the Developer, and the Escrow Holder shall enter into an agreement governing the disbursement of the Predevelopment Advance. Said agreement shall be consistent with this Agreement, reasonably satisfactory to the Executive Director and the Developer, include a schedule of performance, and contain reasonable and customary conditions for each disbursement, but not, however, a condition requiring further discretionary consent by the Authority or the City. If a DDA is executed by the Parties, the Parties acknowledge and agree that the Predevelopment Advance shall be included in the Authority Grant provided to the Developer thereunder. If the Parties do not execute a DDA, the Developer shall deliver all work product (including the Project Materials, as defined below) generated with the Predevelopment Advance funds to the Authority, along with an assignment of such work product to the Authority in the form attached as Exhibit C. Such delivery of work product shall render the Predevelopment Advance satisfied and repaid in full. The work product (including the Project Materials) will be delivered without warranty as to accuracy or completeness.
Predevelopment Costs. Predevelopment Costs shall mean those "soft costs" paid by DEVELOPER to third-party providers, including without limitation, architectural design costs, payment of fees to obtain governmental approvals, cost of donated professional services, and other costs approved by CITY, necessary to be incurred in order to finance and construct the Completed Assisted Units.
Predevelopment Costs. APAC shall bear responsibility for all predevelopment costs relating to actions of APAC under this Agreement.
Predevelopment Costs. There shall be no upfront investment obligation on the part of the City or the Authority. Developers shall fund all predevelopment expenses necessary for due diligence outlined in Section 2.4. The Developers shall bear the financial responsibility for, among other predevelopment expenses, environmental review, remediating any environmental conditions, structural soils analysis, architectural and engineering plans, and all fees and expenses required by the City in connection with obtaining the land use and other entitlements required to develop and operate the Project. Notwithstanding the foregoing, the Developers may be reimbursed for some or all of their predevelopment expenses from one or more constructions loans on the Project. If the Parties do not execute a DDA, the Developers shall deliver all work product (including the Project Materials, as defined below) generated during the predevelopment stage to the Authority, along with an assignment of such work product to the Authority in the form attached as Exhibit C. The work product (including the Project Materials) will be delivered without warranty as to accuracy or completeness subject to all rights of the consultants and professionals preparing the same.
Predevelopment Costs. Except pursuant to Lessor’s written agreement exercised in ▇▇▇▇▇▇’s sole discretion, all predevelopment costs, including without limitation, all environmental and other due diligence costs, and legal fees and costs relating to the Development will be payable by ▇▇▇▇▇▇. In addition, at Closing, Lessor and City shall be reimbursed the total amount incurred by ▇▇▇▇▇▇ and City for legal and consulting fees and other eligible predevelopment expenses agreed to by the Parties. Closing costs, including the cost of ▇▇▇▇▇▇’s owner’s policy of title insurance, and, if applicable, ▇▇▇▇▇▇’s lenders’ policy of title insurance, transfer taxes, escrow charges and recording fees shall be paid by ▇▇▇▇▇▇ at Closing.
Predevelopment Costs. In order to meet the Goals and Objectives in Section 1 and 5 Development Program) (collectively, the “Predevelopment Costs”). It is anticipated that the
Predevelopment Costs