Cost Certification definition
Cost Certification means the date upon which each Limited Partner shall have received the written certification of the Auditors, in a form and in substance satisfactory to Boston Capital, as to the itemized amounts of the construction and development costs of the Apartment Complex and the Eligible Basis and Applicable Percentage pertaining to each building in the Apartment Complex.
Cost Certification means a certification of the Company, as of a specified date, setting forth in reasonable detail the costs incurred and, if appropriate, to be incurred by the Company in completing the provision of the Project, including a detail by category of all Allowable Innovation Costs.
Cost Certification means the determination by the DHCD of the aggregate amount of all Development Costs as a result of its review and approval of: (i) an itemized statement of Total Development Costs together with a statement of gross income from the Development received by the Developer to date in the format provided in the Cost Certification Guidance (the “Cost Examination”). The Cost Certification must be examined in accordance with the attestation standards of the American Institute of Certified Public Accountants (AICPA) by an independent certified public accountant (CPA) and (ii) an owner’s and/or general contractor’s certificate, as provided in the Cost Certification Guidance, executed by the Developer and/or general contractor under penalties of perjury, which identifies the amount of the Construction Contract, the amount of any approved Change Orders, including a listing of such Change Orders, and any amounts due to subcontractors and/or suppliers. “Allowable Development Costs” shall mean any hard costs or soft costs paid or incurred with respect to Development as determined by and in accordance with the Guidelines. Prior to acceptance of the Cost Certification, DHCD shall deliver a copy of the Cost Certification to the Municipality with DHCD’s determination of the Developer’s compliance with the Comprehensive Permit Rules. The Municipality shall have the option of evaluating the report for accuracy (e.g., absence of material errors), applying the same standards as set forth herein, for a period of 30 days after receipt. Such thirty (30) day period may be extended upon the written request of the Municipality to DHCD, which request shall not be unreasonably withheld. DHCD will reasonably review any inaccuracies identified by the Municipality during this period and shall thereafter either accept or raise objections to the Cost Certification as provided in Section (g) above.
Examples of Cost Certification in a sentence
Each item included as a Certified Cost in this Cost Certification is a valid cost of implementing the CID Improvements authorized under CID Act and described in the Petition and the Cooperative Agreement or is a valid cost of formation of the District.
If the City or the District has no such reason to contest the Cost Certification, or if the thirty-day time period passes without such notification, the District shall approve the Cost Certification by signature.
Upon receipt by the City and the District of an executed and completed Cost Certification (together with supporting invoices), the City and the District shall have thirty calendar days to inform the Developer of any inadequacy of the Cost Certification, based on the determination that the Cost Certification requests payment for costs that either are not reimbursable under this Agreement or have already been the subject of a Cost Certification.
More Definitions of Cost Certification
Cost Certification means a final cost certification with respect to the Project Facilities, in form and substance acceptable to the Controlling Person, prepared by the Accountant or another independent firm approved by Controlling Person.
Cost Certification means the Developer’s documentation which will enable determination by the Subsidizing Agency of the aggregate amount of all Allowable Development Costs as a result of its review and approval of: (i) an itemized statement of Total Development Costs together with a statement of gross income from the Development received by the Developer to date, all in the format provided in the Subsidizing Agency’s Cost Examination Program, which Cost Certification must be examined (the “Cost Examination”) in accordance with the attestation standards of the American Institute of Certified Public Accountants (AICPA) by an independent certified public accountant (CPA) and (ii) an owner’s certificate, executed by the Developer under pains and penalties of perjury, which identifies the amount of the Construction Contract, the amount of any approved Change Orders, including a listing of such Change Orders, and any amounts due to subcontractors and/or suppliers. “Allowable Development Costs” shall mean any hard costs or soft costs paid or incurred with respect to Development as determined by and in accordance with the Guidelines.
Cost Certification means the written certification of a certified public accountant as to the itemized amounts of the construction and development costs of the Development, submitted to the Department in order to obtain IRS Form(s) 8609 for the Development or as otherwise required by the Department. Cost Certification shall be conducted in accordance with 10 TAC Section 49.15(b) and the Department’s Cost Certification Manual, save and except the deadline for submission to the Department.
Cost Certification has the meaning as set forth in 2.3.3.
Cost Certification means a certification of the Company, as of a specified date, setting forth in reasonable detail the costs incurred and, if appropriate, to be incurred, by the Company in completing the provision of the Project, including a detail by category of all Allowable Costs.
Cost Certification means the date on which the Developer has received (and has furnished to the Investor Member a copy of ) the written certification of the Accountants as to the itemized amounts of the rehabilitation and development costs of the Rehabilitation of the Building and the QRE and the actual Historic Tax Credit allocable to the Building.
Cost Certification means the date upon which each Limited Partner shall have received the written certification of the Accountants, in a form and in substance satisfactory to Boston Capital, as to the itemized amounts of the rehabilitation and development costs of the Apartment Complex and the Eligible Basis and Applicable Percentage (in each case, as defined in Section 42(d) of the Code), pertaining to each building in the Apartment Complex. "Counsel" or "Counsel for the Partnership" shall mean Peabody & Brown of ▇▇▇▇▇n, MA and Tobin, Carberry, O'Malley, Ri▇▇▇ & ▇▇▇▇▇▇▇▇, PC ▇▇ ▇▇▇ London, CT, or such other attorney or law firm upon which the Investment Partnership and the General Partner shall agree; provided, however, that if any section of this Agreement either (i) designates particular counsel for the purpose described therein, or (ii) provides that counsel for the purpose described therein shall be chosen by another method or by another Person, then such designation or provision shall prevail over this general definition. The Limited Partners have been, and will continue to be, separately represented by Hinckley, Al▇▇▇ & ▇▇▇▇▇▇ ▇▇ su▇▇ ▇▇▇er counsel as they may choose in connection with all Partnership matters. "Credit Shortfall" means the amount by which the Actual Credit is less than the Projected Credit (or Revised Projected Credit) for any year or portion thereof. "Debt Service" means scheduled principal and interest payments on indebtedness under the Mortgage Loan, determined on an annual basis for each year of Partnership operations. "Developer" means jointly, First Atlantic and American Housing, or their respective designees. "Deferred Development Fee" means any portion of the Development Fee not actually paid to and received by the Developer from the Installments, the payment of which is deferred and payable only in accordance with Sections 5.01(a), 11.03(A)(b) and 11.04(A)(c) hereof. "Development Fee" means the fee payable by the Partnership to the Developer pursuant to Section 8.10 of this Agreement. "Development Sources" means the aggregate of: (a) the proceeds of the Mortgage Loan; (b) the Capital Contributions of the General Partner, as set forth in Section 5.01(a) of this Agreement; (c) not more than $426,008 less the amount of the non-Deferred Development Fee of the Capital Contributions of the Investment Partnership to the Partnership; and (d) any rental income of the Partnership for the period prior to Final Closing. "Distributable Proceeds from Capita...