Initial Construction Cost definition

Initial Construction Cost means the initial contract construction price with the General Contractor for the Synod Construction, which is $1,062,037.00.
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Examples of Initial Construction Cost in a sentence

  • Bridging Architect shall verify and accept the District’s established Initial Construction Cost Budget and Project scope to establish the Approved Construction Cost Budget.

  • In accordance with the Exhibit A, the Bridging Architect shall have responsibility to further develop, review, and reconcile the Initial Construction Cost Budget to establish the Approved Construction Cost Budget.

  • Architect/Engineer shall notify the District in writing if, in its professional opinion, the District’s Initial Construction Cost Budget is inadequate to achieve the District’s project objectives.

  • The Initial Construction Cost Budget, as designated in Exhibit “G”, is the initial estimation of the total sum to be paid to the building contractor(s) to construct the Project.

  • The Initial Construction Cost Budget (ICCB), as identified in Exhibit “G”, will be then superseded, at the completion of the Programming Phase of services, by the Approved Construction Cost Budget (ACCB).

  • Produce an Initial Construction Cost Estimate (ICCE) based on current market conditions for review and approval by the District.

  • Adjust and refine the Initial Construction Cost Budget (ICCB), see Exhibit “G”, based on the input from college user groups, Maintenance and Operations, District Representatives and overall program goals and needs that became more defined during the programming phase.

  • If change orders are required during the course of construction which increases the Initial Construction Cost or any subsequently agreed adjustment thereof by more than ten percent (10%), as a result of increased costs of material or labor or mutually agreed changes to the Plans and Specifications, then Developer shall obtain at its cost and deliver to the District a replacement Commitment Guarantee in the amount of 125% of the increased amount.

  • Review the physical site and the Initial Construction Cost Budget and other information/data relating to the project or the requirements of the project as provided by the District and confirm that the scope and features of the project as described in the Initial Construction Cost Budget and other District provided information/data are reasonable for achieving the District’s project objectives.

Related to Initial Construction Cost

  • Direct Construction Cost shall have the meaning set forth in Article 11.

  • Estimated Construction Cost or “ECC” means the amount calculated by Contractor for the total cost of all elements of the Work based on this Agreement available at the time(s) that the ECC is prepared. The ECC shall be based on current market rates with reasonable allowance for overhead, profit and price escalation and shall include and consider, without limitation, all alternates and contingencies, designed and specified by A/E and the cost of labor and materials necessary for installation of Owner furnished equipment. The ECC shall include all the cost elements included in the AACC, as defined above, and shall represent Contractor’s best current estimate of the Guaranteed Maximum Price it will propose for the Project based on the information then available. The ECC shall not include Contractor’s Pre-Construction Phase Fee, A/E’s Fees, the cost of the land and rights-of-way, or any other costs that are the direct responsibility of Owner.

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • Horizontal construction means the construction of any fixed work, including any irrigation, drainage, water supply, flood control, harbor, railroad, highway, tunnel, airport or airway, sewer, sewage disposal plant or water treatment facility and any ancillary vertical components thereof, bridge, inland waterway, pipeline for the transmission of petroleum or any other liquid or gaseous substance, pier, and work incidental thereto. The term does not include vertical construction, the construction of any terminal or other building of an airport or airway, or the construction of any other building.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.