Project Formulation Costs [Aeronautics and Space] Law and Legal Definition

According to 14 CFR 152.3 [Title 14 Aeronautics and Space; Chapter I Federal Aviation Administration, Department of Transportation; Subchapter I Airports; Part 152 Airport Aid Program; Subpart A General], Project Formulation Costs means, with respect to projects for airport development, “any necessary costs of formulating a project including--

(1) The costs of field surveys and the preparation of plans and specifications;

(2) The acquisition of land or interests in land, or easement through or other interests in airspace; and

(3) Any necessary administrative or other incidental costs incurred by the sponsor specifically in connection with the accomplishment of a project for airport development, that would not have been incurred otherwise.”