eligible project costs
(4) Eligible project costs The term “eligible project costs” means amounts substantially all of which are paid by, or for the account of, an obligor in connection with a project, including— (A) the cost of— (i) development-phase activities, including planning, feasibility analysis, revenue forecasting, environmental review, permitting, preliminary engineering and design work, and other preconstruction activities; (ii) construction, reconstruction, rehabilitation, replacement, and acquisition of real property (including land relating to the project and improvements to land), environmental mitigation, construction contingencies, and acquisition and installation of equipment (including labor); and (iii) capitalized interest necessary to meet market requirements, reasonably required reserve funds, capital issuance expenses, and other carrying costs during construction; and (B) transaction costs associated with financing the project, including— (i) the cost of legal counsel and technical consultants; and (ii) any subsidy amount paid in accordance with section 16372(c)(3)(B)(ii) of this title or section 16373(b)(6)(B)(ii) of this title .