Total Development Costs Clause Samples

Total Development Costs. The total amount of costs and expenditures incurred by Aquia with respect to the development of ▇▇▇▇▇ ▇▇▇▇▇ Center, including basis costs associated with the Real Estate that constitutes a portion of ▇▇▇▇▇ ▇▇▇▇▇ Center, and approved by Agent in its reasonable discretion.

Total Development Costs. The (i) Initial Purchase Price, plus any additional purchase price amounts paid for the Leased Property by Lessor or its Affiliates pursuant to the Purchase Agreement, plus all reasonable costs and expenses not included in the Initial Purchase Price incurred or paid in connection with the purchase and lease of the Leased Property, including, but not limited to, legal, appraisal, title, survey, environmental, seismic, engineering and other fees and expenses paid in connection with the inspection of the Leased Property and site visits, and fees paid to advisors and brokers, except to the extent such items are paid by Lessee, (ii) costs of Capital Additions financed by Lessor (and Lessor's Affiliates) as provided in Section 10.3 of this Lease, (iii) all amounts advanced or paid pursuant to the Development Agreement and the Funding Agreement, (iii) Construction Period Rent, as provided in Section 3.1(a); (iv) interest on advances made by Lessor prior to the date hereof in the amount of Ninety-Seven Thousand, One Hundred Sixty and 12/100 Dollars ($97,160.12) which shall be deemed incurred as of the date hereof; (v) any amounts paid by Lessor in connection with the posting of a development bond required by the township of Bensalem, Pennsylvania (it being understood that Total Development Costs and the Base Rent shall be adjusted accordingly for any amounts returned to Lessor with respect to such bond) and (vi) all fees and expenses paid or advanced by Lessor and its Affiliates in connection with the construction and development of the Leased Property, except to the extent such items are paid by Lessee. Notwithstanding the foregoing, Total Development Costs shall not include any Additional Charges.

Total Development Costs. The Total Development Costs of the Project are estimated to be approximately as set forth in Exhibit B, and the Developer has been unable to obtain additional private financing or investment for the total estimated Total Development Costs at rates or returns that allow the Project to be economically feasible within the reasonably foreseeable future. In anticipation of the assistance to be provided under this Agreement, the Developer agrees that it will construct the Project on the Development Property and understands that the Developer is obligated to pay all costs of the Project.

Total Development Costs. ‌ In order to be eligible for the maximum amount of the DPRP Loans, the Developer must provide evidence and documentation prior to the applicable DPRP Loan closing sufficient to demonstrate a minimum Total Development Cost in the Project of at least SIXTY-SIX MILLION NINE HUNDRED EIGHTY-TWO THOUSAND FOUR HUNDRED THIRTY-FOUR AND NO/100 ($66,982,434.00) (the “Minimum Total Development Cost”) as determined by the DIA in its reasonable discretion. In the event the Minimum Total Development Costs for the Improvements falls below the Minimum Total Development Cost threshold by ten percent (10%) or less, the maximum amount of the applicable DPRP Loans shall be reduced in accordance with the DPRP Guidelines. In the event the actual Total Development Cost of the Improvements as determined by the DIA is more than twenty-five percent (25%) below the Minimum Total Development Cost threshold, the Developer shall be ineligible for the applicable DPRP Loans. In the event the Total Development Cost of the Improvements fall below the Minimum Total Development Cost threshold by more than ten percent (10%) but less than twenty-five percent (25%), DIA staff shall perform an underwriting analysis and present to the DIA Board a request for approval to reduced the DRPR Loans consistent with the DPRP Guidelines. The DIA Board shall have the authority, without further action by City Council, to approve reduced DRPR Loan amounts provided the reduction in Total Development Cost for the respective improvements does not exceed twenty-five percent (25%). For purposes of clarity, general construction costs for the Historic Buildings, as a subset of Total Development Costs, shall generally be consistent with Exhibit I attached hereto as determined by the DIA in its reasonable discretion.

Total Development Costs. Prior to the Effective Date, Total Development Costs (as defined in Section 4 of Exhibit B to the Lease) were $8,631,343.17. Effective as of the Effective Date, Total Development Costs are hereby amended to $8,711,776.69 to account for the following items: (a) kitchen fume hood at a cost of $31,412.38; (b) science room fume hood at a cost of $18,000.00; and (c) lockers at a cost of $31,021.14.

Total Development Costs. The parties estimate that the total cost of developing the Project will be approximately $54,392,514 (see footnote 1 below) during the construction financing period and $56,472,253 during the permanent financing period. The portion of the sources of financing needed for the Affordable Family Housing Units during the construction financing period and permanent financing period are set forth in Section 2 of this Amended Method of Financing.

Total Development Costs. (a) CPP will bear the Total Development Costs that are estimated, as of the Effective Date, to be [*****]; provided that, if Total Development Costs exceed [*****], then Subsections 4.1.7 (Bridge Financing of Total Development Costs) and 5.

Total Development Costs