; (iv) the Secretary is satisfied that the use of an integrated project delivery contract will be cost effective and expedite the project; (v) the Secretary is satisfied that there will be no conflict of interest; and (vi) the Secretary is satisfied that the contract selection process will be open, fair, and objective and that not less than 2 sets of proposals will be submitted for each team entity under the selection process. (3) Reimbursement of costs (A) In general The Secretary may reimburse a sponsor of an airport for any design or construction costs incurred before a grant is made pursuant to this section if— (i) the project funding is approved by the Secretary in advance; (ii) the project is carried out in accordance with all administrative and statutory requirements under this chapter; and (iii) the project is carried out under this chapter after a grant agreement has been executed. (B) Accounting Reimbursement of costs shall be based on transparent cost accounting or open book cost accounting. (d) Covered project delivery contract defined In this section, the term covered project delivery contract means— (1) an agreement that provides for both design and construction of a project by a contractor through alternative project delivery methods, including construction manager-at-risk and progressive design build; or (2) a single contract for the delivery of a whole project that— (A) includes, at a minimum, the sponsor, builder, and architect-engineer as parties that are subject to the terms of the contract; (B) aligns the interests of all the parties to the contract with respect to the project costs and project outcomes