What types of costs are considered capital costs for purposes of project development financing?

Capital costs are defined by G.S. 159-48(h) and G.S. 159-103. They include:

• The costs of all property, both real and personal and both improved and unimproved, plants, works, appurtenances, structures, facilities, furnishings, machinery, equipment, vehicles, easements, water rights, franchises, and licenses used or useful in connection with the purpose authorized;
• The costs of demolishing or moving structures from land acquired and acquiring any lands to which such structures are to be moved;
• The costs of plants, specifications, studies and reports, surveys, and estimates of costs and revenues;
• The costs of bond printing and insurance;
• The administrative and legal expenses;
• The interest on the debt instruments being issued or on notes issued in anticipation of the instruments during construction and for a period not exceeding seven years after the estimated date of completion of construction;
• The establishment of debt service reserves and any other reserves reasonably required by the financing documents; and
• Any other services, costs, and expenses necessary or incidental to the purpose authorized.