Project Cost Law and Legal Definition

According to 44 CFR 59.1 (Title 44 - Emergency Management And Assistance; Chapter I - Federal Emergency Management Agency, Department Of Homeland Security; Subchapter B - Insurance And Hazard Mitigation; Part 59 - General Provisions; Subpart A – General), project cost means “the total financial cost of a flood protection system (including design, land acquisition, construction, fees, overhead, and profits), unless the Federal Insurance Administrator determines a given "cost" not to be a part of such project cost.”