### Question
How is the "development cost" defined?


### Answer
The term **development cost** is defined in *42 U.S.C. § 1485* as follows -

> the costs of constructing, purchasing, improving, altering, or repairing new or existing housing and related facilities and purchasing and improving the necessary land, including necessary and appropriate fees and charges, initial operating expenses up to 2 per centum of the aforementioned costs, approved by the Secretary, impact fees, local charges for installation, provision, or use of infrastructure, and local assessments for public improvements and services imposed by State and local governments

#### Citation:
  - *42 U.S.C. § 1485*
  - Heading: **CHAPTER 8A-SLUM CLEARANCE, URBAN RENEWAL, AND FARM HOUSING > SUBCHAPTER III-FARM HOUSING**

