Rehabilitation Costs definition

Rehabilitation Costs means the expenses incurred or to be incurred which qualify as rehabilitation expenditures under Section 42(e) of the Code.

Rehabilitation Costs means with respect to a Project (1) the site costs, (2) the costs of complying with the construction requirements of other funding sources except those required by the Applicant, any Principal thereof or Affiliates of either, (3) contractor profit, overhead and general conditions, and (4) certain costs identified in the capital needs assessment required under Section 5.D.1. of the QAP, including (a) the cost of correcting all violations of applicable federal, state and local health, safety and building codes and correcting deferred maintenance, (b) the rehabilitation or replacement of all structures, systems, facilities and components that have reached or exceed their useful life or will reach their useful life within 5 years, (c) the cost of complying with MaineHousing’s Construction Standards, (d) the cost of complying with the most current accessibility requirements for new construction projects under applicable federal, state and local accessibility laws, regulations, standards and guidance, and (e) the remediation and disposal of any environmental or other hazards identified in environmental reports. Rehabilitation Costs do not include construction contingency, relocation costs, or other soft costs.

Rehabilitation Costs means, as stated in Code Section 42(e)(2), the amounts chargeable to capital accounts and incurred for property in connection with the rehabilitation of a building. For the purposes of the calculation in scoring Rehabilitation Projects, only rehabilitation “hard” costs will be considered, which are those costs that would be included in a construction contract. If the Project does not include the construction of new Rent Restricted Units, the cost of the construction of common space buildings will be considered Rehabilitation Costs.

Examples of Rehabilitation Costs in a sentence

• Category A - Environmentally Sensitive Areas 35Category B - Environmentally Sensitive Areas 36Category C - Environmentally Sensitive Areas 38APPENDIX B – FORMS 39FORM 1 Monitoring and Record Keeping Summary 39FORM 2 Emergency Response Table 41FORM 3 Schedule of Rehabilitation Costs 42Figure 1 - Cross section through a watercource 43Figure 2 - Plan view of a watercourse 44 1.0 INTRODUCTIONNote: The key terms and/or phrases used in this Code are highlighted in italics followed by an (*).

• The Rehabilitation Costs per unit of existing housing must be at least $50,000.

• The greater of the following two tests must be met: 1) total Rehabilitation Costs must equal or exceed 10% of the adjusted Project basis during a 24-month period; or 2) the Qualified Basis of the Rehabilitation Costs must equal or exceed $3,000 per Low Income Unit.

• Hard Rehabilitation Costs do not include construction contingency, relocation costs or soft costs.

• The Project must need at least$30,000 of Hard Rehabilitation Costs per unit of existing housing.

More Definitions of Rehabilitation Costs

Rehabilitation Costs means, as stated in Code Section 42(e)(2), the amounts chargeable to capital accounts and incurred for property in connection with the rehabilitation of a building. For the purposes of the calculation in scoring Criterion #4, only rehabilitation “hard” costs will be considered, which are those costs that would be included in a construction contract.

Rehabilitation Costs means the costs associated with the rehabilitation of existing structures.

Rehabilitation Costs means with respect to a Project (1) the site costs, (2) the costs of complying with the construction requirements of other funding sources except those required by the Applicant, any Principal thereof or Affiliate of either, (3) contractor profit, overhead and general conditions, and

Rehabilitation Costs means the costs associated with rehabilitating the Regional Waste Disposal Facility;

Rehabilitation Costs means the hard costs for the rehabilitation of the Development as specified in the Scope of Work.

Rehabilitation Costs means all costs which are actually incurred by Owner for the acquisition, development and construction of the Project as set forth in the Project Budget.

Rehabilitation Costs means any repair to or replacement of any portion of the Water Treatment Facilities that does not provide for a planned increase in the capacity of the Water Treatment Facilities, but which costs $25,000 or more and which extends the useful life of the Water Treatment Facilities by more than five (5) years. Any rehabilitation and replacement expenditures that are less than $25,000 or which do not extend the useful life of the Water Treatment Facilities by more than five (5) years shall be treated as an operation and maintenance expense. Replacement and/or Rehabilitation shall include, but shall not be limited to, all reasonable engineering, design, inspection and other consultant costs such as geotechnical engineers, contractor costs, material costs, labor costs and equipment costs.