Development Uses Summary

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Using data drawn from the Development Costs tab section of the Template [with permanent loan origination fees (points costs) calculated based on inputs on the Financing Sources tab], this portion of the Summary tab shows development uses by category.

• Acquisition Costs are the costs paid to acquire land and any existing structures on the project site.
  
  
• Site Work Costs are modifications made to acquired land and existing structures beyond those normally included in the construction contract.
  
  
• Construction / Rehabilitation Costs include all costs included in a construction contract.
  
  
• Architectural and Engineering Fees include design, construction supervision, and any mechanical or structural engineering costs not included as part of the site plan design fee.
  
  
• Other Owner Costs are costs paid to outside entities to address many of the organizational, financial and legal requirements associated with undertaking a real estate development project.
  
  
• Interim Financing Costs are associated with financing the construction phase of the project, before the project is completed and ready for occupancy.
  
  
• Permanent Financing Fees and Expenses are associated with securing the long-term financing for the project, including costs charged by and passed through the permanent lender.
  
  
• Developer's Fee is compensation to the developer for the time and risk involved to develop the project.
  
  
• Initial Project Reserves are funds set aside from the construction financing to cover possible losses or shortfalls in the cash flow.
  
  
• Tenant Relocation Costs are costs related to complying with Federal requirements to provide relocation assistance to displaced tenants.
  
  
• Project Administration and Management Costs include only short-term costs. Ongoing project administration and management costs related to the operation of the project are included as operating expenses, rather than development costs.
  
  
• Other Development Costs are development costs that do not fall into any of the preceding categories.
  
  
• Total is calculated by summing the development cost categories listed above.