DEVELOPMENT MANAGEMENT SERVICES

I. PROJECT FEASIBILITY AND SITE EVALUATION

A. Develop the project program and design criteria.
B. Prepare financial projections highlighting development costs, estimated income and expense, loan and equity requirements.
C. Prepare preliminary budget and marketing studies.

II. PROJECT PLANNING AND ADMINISTRATION

A. Solicit proposals from architectural and engineering firms.
B. Negotiate agreements with architectural and engineering firms, covering the scope of planning, design, engineering, supervision and inspection services. Coordinate the activities of the selected architect and engineers in the preparation of the plans, establishing the design and concept.
C. Interface with city, county and state agencies to secure all required government permits and approvals.
D. Review and approve preliminary drawings, final plans and specifications for compliance with design criteria and construction.
E. Solicit quotations from qualified general contractors for the construction of improvements.
F. Negotiate with the general contractor a comprehensive Construction Contract covering the project. If applicable, such a contract shall also provide for the construction of tenant improvements.

Ill. CONSTRUCTION MANAGEMENT

A. Prepare a construction schedule citing milestones and completion dates and direct the project team toward the execution of this project schedule.
B. Review all subcontract bids and submit them for owner’s review recommending approvals.
C. Establish and administer a field order and change order program.
D. Administer all contractual documents relating to planning, design and construction and coordinate review and approval of progress payments.
E. Observe construction for compliance with the approved plans and specifications.
F. On completion, provide to the Owner copies of all warranties, guarantees, operating manuals, and a set of as-built drawings.
G. Review and recommend approval of tenants’ preliminary drawings and final plans and specifications for compliance with lease.

IV. MARKETING

Formulate a Marketing Plan to meet the objectives of the owner and fulfill the requirements of the development. Direct and coordinate the activities of real estate brokers in accomplishing the objectives of the Marketing Plan.
A. Develop a leasing strategy and leasing plan.
B. Target potential users, tenants or buyers.
C. Coordinate public relations and promotional activities.
D. Conduct regular meetings for purposes of reviewing leasing progress and lease proposals and establish specific goals.
E. Develop an appropriate standard lease form together with necessary exhibits.
F. Recommend and establish a procedure for processing leases for execution.
G. Administer the Leasing Agreement be­ tween the Owner and the leasing agent.

V. REPORTING

A. Provide monthly cost reports relating to each major cost item. The format will be established to meet Owner requirements.
B. Provide monthly status reports which will review the progress of planning development and construction activity.
C. Provide a status report which will reflect the status of all leases and/or sales, if applicable, and the various stages of negotiations of such transactions.

VI. FINANCING

A. Solicit from competitive sources interim and/or permanent loan commitment proposals. Following approval, finalize the interim and/or permanent, loan commitment; complete necessary documentation and fund the loan.
B. Comply during project development with all of the requirements of the approved interim and/or permanent loan commitment.