Net New Development definition

Net New Development means any new building construction on Blocks A-E which increases the com- bined rentable square footage on such Blocks above the amount of gross building area in place as of the date of adoption of this Precise Plan (i.e. approximately 536,000 sq. ft. of gross building area).
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Net New Development means any new building construction on the Property which increases the combined square footage on the Property above the amount of gross building area in place on the Property as of the Effective Date (i.e., 536,000 square feet of gross building area).
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Examples of Net New Development in a sentence

  • In connection with construction of replacement buildings and Net New Development on the Property, Developer shall procure and maintain, or cause its contractor(s) to procure and maintain a commercial general liability policy in an amount not less than Five Million Dollars ($5,000,000) combined single limit, including contractual liability together with a comprehensive automobile liability policy in the amount of Three Million Dollars ($3,000,000), combined single limit.

  • Developer shall contribute $4,000,000 to the Community Sustainability Fund, payable to the City proportionately based on Net New Development, as described below (“Community Sustainability Fund Contribution”).

  • Except as otherwise provided in Section 1.3.2 above, the Community Sustainability Fund Contribution shall be paid by Developer to City proportionately at the time of building permit issuance based on the ratio of the Net New Development added by the development subject to the building permit compared to the total 982,000 square feet of net new development anticipated on the Property.

  • Except as otherwise provided in Section 1.3.2 above, Developer shall pay the Bicycle Contribution to City in full prior to building permit issuance for any Net New Development.

  • Except as otherwise provided in Section 1.3.2 above, the Water Tank Contribution shall be paid to City proportionately at the time of building permit issuance based on the ratio of the Net New Development added by the development subject to the building permit compared to the total 982,000 square feet of net new development anticipated on the Property.

  • Developer shall designate, design and improve 2.4 acres of publicly accessible privately owned open space adjacent to Spinas Park in conjunction with the first phase of development which includes Net New Development and in accordance with the requirements of the Precise Plan.