Limited Preconstruction Review

A Limited Preconstruction Review, which combines a limited Construction Documents Review and a Construction Cost Review, conducted by Building Consultants, Inc. (BCI) includes the following:

Review the following documents, which BCI can assist in collecting:

Information from the Lender relating to the budget

• The loan budget including
  • Total loan amount
  • Amount of loan allocated to direct construction costs
  • Contingency amount and how contingency is allocated (soft or hard or both?)
• Loan timing requirements including
  • Construction commencement date
  • Substantial completion date
• The Lender’s funding parameters during construction including
  • Retention % and release requirements
  • Payment allowed for stored materials? What documentation is required?
  • Change order parameters if any (i.e. maximum aggregate amount, maximum individual amount) or the borrower is responsible for payment of all change orders

Information from the borrower and/or relating to the proposed project:

• Signed and sealed final plans and specifications including:
  • site (grading, water and sewer, roads, storm water management)
  • architectural
  • structural
  • mechanical and electrical
• Documentation relating to the construction contracts and agreements, including
  • fully executed copy of the general construction contract or construction management agreement with all attachments and exhibits, addenda or executed change orders
  • contractor's breakdown of all direct construction costs/schedule of values

BCI will prepare a brief written report.