CHDO Special Assistance Pre-development Loan Table

Timing

Used prior to gaining site control.

Must have site control, preliminary financial commitments, and capable development team.

Uses

Limited to:

	Initial feasibility study
	Consulting fees
	Cost of preliminary financial application
	Fees for architects, legal, engineers, and development team
	Site control expenses
	Title clearance costs

Pre-construction costs, including but not limited to:

	Cost of construction loan commitments
	Architectural plans and specifications
	Costs of zoning approvals
	Costs of engineering studies
	Legal fees

Loan Terms

None specified by HOME Program.

None specified by HOME Program.

Repayment

Repaid from construction loan, other project income or wrapped into the final HOME assistance package to the CHDO.

May be waived if there are impediments to project development or if it is deemed infeasible.

Repaid from construction loan, other project income or wrapped into the final HOME assistance package to the CHDO.

May be waived if there are impediments to project development or if it is deemed infeasible.