Development Budget definition
Examples of Development Budget in a sentence
The Administrative General Partner further guarantees that, at the time of Permanent Mortgage Commencement, if the actual hard costs and soft costs of developing and rehabilitating the Apartment Housing (other than Development Fee) exceed the Development Budget, then the Administrative General Partner shall advance the money to the Partnership to pay the difference between the aggregate of the actual hard and soft costs and the Development Budget.
Developer may use TIF supported funds only to fund Qualified Expenditures as set forth in the approved Development Budget.
At any time during the implementation of the development contemplated by this Agreement, Developer may submit to the CDA proposed revisions in the approved Concept Plan, Construction Documents, or Development Budget in order to enhance the achievement of the objectives of this Agreement and to improve and refine the approved Concept Plan.
As of the date of this Agreement, the City has approved the Development Budget.
Borrower may amend the Development Budget as reasonably necessary to complete the Project; provided however, no such amendment shall obligate the City to increase the Loan amount beyond the $800,000 currently contemplated by this Agreement.