Okla. Admin. Code § 320:10-7-2

Current through Vol. 42, No. 4, November 1, 2024

Section 320:10-7-2 - Basis of allocation computation

(a) For all eligible capital projects subject to the Art in Public Places Act as described herein, the Project Agency shall set aside 1 1/2% of the capital cost of construction and transfer that amount to the Oklahoma Historical Society for the use and benefit of the Art in Public Places Division as soon as the funds are available and the Total Project Budget is known. The basis of the allocation calculation is the Project Cost which is the combined cost of design and construction. The cost of land, personal property or the cost of issuance of bonds or borrowing money is not included in the Project Cost, nor does it include the cost of pre-project planning that may be necessary to determine a project budget.

(b) However, the cost of design and construction (which together set the Basis of Allocation); the 1 1/2% allocation for the Art in Public Places; the costs for obtaining funds; the cost of any land acquisition, furnishings; moving expenses; and any other incidental costs associated with planning, building, moving to and operating a new or newly renovated building normally attributed to the Project Budget are all included when calculating the Total Project Budget for planning purposes.

(c) After the art allocation is determined and transferred to the Oklahoma Historical Society for the Art in Public Places Division, the amount of that assessment will not change unless the scope of the project is materially or substantially changed and more state funds are issued or appropriated for the project.

(d) Any state institution or agency has the right to appeal to the Art in Public Places Oversight Committee following the procedure as set forth in 320:10-3-16.

Okla. Admin. Code § 320:10-7-2

Added at 24 Ok Reg 335, eff 10-31-06 (emergency); Added at 24 Ok Reg 2164, eff 6-25-07