Rising building material costs and energy efficient construction requirements make cost estimating and managing your project’s scope of work and required inspections more important than ever. This session will provide guidance in estimating project costs, managing the construction process, and coordinating your project scope with important scheduling activities.

1. ROLLOW SUBDIVISION
Housing America Corporation
By Irma E. Myers, Executive Director
PROJECT OVERVIEW

2. Land Acquisition
Engineer to develop a preliminary plat
Land Dev. Committee and Board of Directors
Preliminary Pro Forma based on previous projects costs
Develop a Project Time Line
ID potential financial sources for Pre-Dev. cost as well
infrastructure Dev. Cost

3. FIRST PLAN
SHORT TERM GOALS
Develop Infrastructure Sell lots;
169 lots pay back Loans -
Rollow’s land
(April 2011- March 2012)
ID Financial acquisition and
infrastructure
Resources
Dec-Feb 2011

4. ESTIMATED DEVELOPMENT COST
Infrastructure $2,462,394
Landscaping $ 145,370
Permits and Fees $ 7,748
Engineering Services $ 80,846
Block Wall $ 180,000
SW GAS $ 168,000
APS (Estimate) $ 386,400
Contingency $ 75,000
ESTIMATED TDC $3,505,778

5. ROLLOW’S
FEASIBILITY ANALYSIS
Land
Land Rollow’s
Rollow’s
Acquisiti
Acquisiti Total
Total
on
on 39.6 acres
39.6 acres
TEDC
TEDC
($1,670,707)
($1,670,707)
RCAC Loan @
$ 5,176,485
5.5% $3,505,77
$920,707 8
HAC RHLF Loan
@ 5%
$750,000

6. Housing Assistance Council – Submitted an
application on December 2010
Wells Fargo Line of Credit (on hand)
RCAC (potential source)
SHOP Revolving Loan (on hand)
Housing America’s Land Development (on
hand)

7.  USDA Rural Development Section 502 and 523 -- in jeopardy!!
 Uncertainty on the Self Help programs
 Census 2010 Results
 MSA Designation /Rural Designation
HAC ‘s FINANCIAL APPLICATION WAS PUT ON HOLD!!!

8.  P&Z reviewed the Plans and specifications for the Subdivision
 The project was placed on hold with the City
Major conversations with HAC regarding other
Potential projects:
 Phase I & II (High Construction Cost)
 Reducing the number of lots from169
 Add another potential project to the site

9. PROJECT GOALS (Rev)
Land Dev. Committee recommended to the
Board:
Reduce Subdivision to 149 lots
Dedicate 4.33 acres for a Multi Family Project
24 units 514/516 Farm Labor Housing
10 units 515 Rural Rental Housing

10. ISSUES AND NEGOTIATIONS WITH
MUNICIPALITY
Developed (4) separated plats to satisfy
the municipality (back and forth)
Final Approval!!!
Development Agreement
 Shared Use Pathway System
 A Six Feet (6’) block wall
 Storm Water Retention
 3 Improvement Districts
 Bonds and Assurances

11.  Change Primary Engineer
 Timeline changes
 Negotiations with the City
 Dealing with NIMBY Neighbors (MF’s)
 Spend more than $800K for Dev. Lots
 SAGA Continuation on the Rural Designation
and the National Budget Continue Resolutions

12.  Be persistent, believe in your
project
 Sale your project
 Hold more Land Dev. Meetings
 Project Timeline Review with your
Eng.
 Keep your Board informed
 Avoid conflict with your city….