§ 14-10 Minimum Required Expenditure.
RCNY § 14-10
(a)What may be included. Expenditures may include those made for (1) construction contracts; (2) materials, labor, equipment rental, insurance, permit fees and other direct expenses of construction; (3) installation of partitions and other tenant work by or for the first tenant or occupant of new or substantially renovated space; (4) architectural, engineering, construction management, legal, accounting and other professional services rendered in connection with the construction work to the extent that the total fees do not exceed ten (10) percent of the expenses incurred for direct construction costs; (5) site preparation, such as the erection of fences, barricades, scaffolding, temporary walkways, removal of debris or any similar work allocable to the project; and (6) fees for connection to existing sewer, water or utility lines.
(b)What may not be included: (1) the costs of selecting or acquiring the site; (2) the costs of determining the feasibility of the project; (3) the costs of moving or installing machinery or equipment, except the cost of installing equipment that is real property and installed as part of the project; (4) charges to any reserve, contingency or sinking fund; (5) the costs of earthwork or demolition except as provided in 19 RCNY § 14-05(e); (6) the costs or payments for the extension of streets, sewers, water lines or other public utilities to a site not provided with these services; or (7) the costs or payments associated with vacating the site and/or existing buildings such as terminating existing leases or tenancies.
