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Application Definitions: <br />Below is a list of terms and phrases which have a specific meaning within this application. It <br />may be helpful for you to review these as you prepare responses so that a better understanding <br />of the reviewer's expectations may be obtained. <br />Capital Asset is any type of property that has a useful life longer than one year and is <br />valued at over $5,000. <br />Construction or "Hard" Costs are the direct contractor costs for labor, material, <br />equipment and services; contractor's overhead and profit, and other direct construction <br />costs. These costs do not include the compensation paid to architects, engineers, or <br />consultants, the cost of land, rights-of-way, or other similar costs. <br />Large-scale, as it relates to projects which may be eligible for being listed on the <br />County's CIP for tourism infrastructure as well as potential funding through this grant <br />process, are projects requesting funding of $50,000 or more. <br />Matching Funds is the amount of funding your organization has secured and is <br />contributing to the project. This includes both direct and indirect support. Direct funds <br />can be in the form of cash funding from your organization or funding secured elsewhere <br />but dedicated to the project such as other grants, loans, donations, etc. Indirect funding <br />support includes in-kind support like labor, volunteer support, supplies, and services <br />which directly relate to the project, including those supplied by your organization and <br />others. A combination of direct and indirect support may be utilized as matching funds. <br />Municipality is a city, county, or town. <br />Real Property is fixed property, principally land and buildings. <br />Soft Costs are cost items in addition to the direct construction cost. These <br />generally include architectural and engineering, permits and fees, financing fees, <br />construction interest and operating expenses, leasing and real estate commissions, <br />advertising and promotion, and supervision. <br />A Tourist is defined as a person traveling away from their place of residence or business and <br />staying overnight in paid accommodations; to a place fifty miles or more one way from their <br />place of residence or business for the day or staying overnight; or from another country or state <br />outside of their place of residence or their business.