Form Hud-52484 - Development Cost Budget/cost Statement Page 5
Download a blank fillable Form Hud-52484 - Development Cost Budget/cost Statement in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Hud-52484 - Development Cost Budget/cost Statement with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5it is determined that the solution involves a change in any of the
3.
1420 – Interest (lines 22 through 26). For turnkey projects,
latest approved budget amounts, the PHA shall prepare a revised
because of the limited PHA financing until the completed project
budget and submit it to the Field Office in accordance with
is acquired, PHA interest shall be limited to not more than 5
instructions in Handbook 7417.1 and Item A2b, above.
percent for 5 months on the total development cost, excluding
interest and contingency. If the project is so planned as to be
b.
When used as the Statement of Actual Development
completed and occupied in several stages, PHA interest shall be
Cost (which is submitted simultaneously with form HUD-52427,
computed from the time the PHA takes title to completed incre-
Actual Development Cost Certificate), only columns (b) and (c)
ments of the projects to not more than 5 percent for 5 months after
shall be completed for all accounts, except Account 1480 (which
completion of the last increment. For a conventional project PP
requires no entries in any column).
budget, interest shall be limited to not more than 5 percent for
B. Subpart I – Budget
each 12 months or portion thereof. For budgets subsequent to the
1.
Development Method
PP Budget, Accounts 1420.1 and .2 shall be charged, to the extent
specifically approved by HUD, in accordance with Handbook
a.
Turnkey. For projects developed under the turnkey
7510.1. Line 26, Total Interest, is the amount which results after
method, the account classifications for Developer's Price (lines 1
the deducting interest earned on investments from the interest
through 9) are to be completed. Where preselected sites are used,
charged.
entries should be made in lines 32 through 43, as applicable, for
those site costs borne by the PHA prior to the assignment to the
4.
1425 – Initial Operating Deficit (line 24). In the absence
developer of the right to purchase the site. The Total Developer's
of dependable previous experience data on which to base a
Price (line 9) shall be the price agreed upon by the developer, the
preliminary estimate of the initial operating deficit, an allowance of
PHA and HUD. The amounts entered for site and architectural and
not to exceed $50 per dwelling unit may be used unless more is
engineering services (lines 1 and 7) should be the amounts to be
specifically authorized by HUD.
included, where applicable, in the Preliminary Contract of Sale for
5.
1430 – Planning (lines 25 through 31). For turnkey
the eventuality of separate purchase by he PHA. The amount
projects generally, architectural-engineering services will be in-
entered for Other (line 98 and Subpart II) should be the sum of (1)
cluded in the Developer's Price except for periodic inspection of
Developer's fee and Overhead, exclusive of builder-contractor's
construction by an independent architect employed by the PHA
overhead and profit which is in other items of the developer's
(Account 1430.7).
price; (2) Interim Financing; (3) Closing Costs; (4) property taxes
6.
1440.5 – Appraisals (line 36). No entry shall be made in
and assessments during construction; and (5) State or local sales,
this Account when HUD performs the appraisal since no fee will be
excise or other taxes, if any. Planning costs approved by the HUD
charged. This Account shall be charged with the costs incurred by
Field Office will allow for entries in lines 25 and 26, as well as in
the PHA for appraisals of land or improvements when provided by
line 7 (in addition to inspections for which an entry will be made in
fee appraisers.
line 28).
7.
Donations (lines 53 and 54). Account 2850 is described
b.
Conventional. For conventional projects, lines 1
in Handbook 7510.1. A donation represents cash and/or the
through 9 will remain blank and, instead, those accounts will be
reasonable value of property donated to the project. Any costs
completed utilizing lines 25 through 48. For lines 44 through 48,
met from cash donations and the value of any donations in kind will
the Schematic Design Documents and the Architect's Estimate of
be included under the appropriate cost account and itemized in
Project Construction Cost will provide a basis for reasonable
Subpart VI. Since donations cannot be included in the Total
estimates for costs. Any comments from the HUD Field Office as
Development Cost, the total of donations will be subtracted
a result of the prior submission of these documents shall be
therefrom in Subpart I of the Budget.
reflected in the Budget.
8.
Contingency (line 56). Enter not more than 5 percent for
c.
Acquisition. For acquisition projects, Account 1440
conventional projects, nor more than 1 percent for turnkey, of the
will be the approved price for the site, including the structures
Total Before Contingency.
thereon which are to be acquired for the project; and Accounts
1450 through 1485 will be used for the work to be done. Lines 1
C. Subpart III – Supporting Data for Cost Estimate in Account
through 9, or 32 through 48, will be completed as required by the
1475 (Lines 6 and 48). Generally, the PHA provides nondwelling
development method being used and other instructions herein.
equipment, requiring an entry in line 48 only. Include only
nondwelling equipment intended for use in developing the specific
2.
1410 – Administration (lines 10 through 18). PHAs with
project. Account 1475 shall not include automotive passenger
experience in the development of low-income housing should
vehicles; and shall not, without detailed, itemized justification fully
estimate development-related administration costs on the basis
endorsed by the officials involved in its approval, exceed one-half
of such experience, as applicable, for the current development
of one percent of the project's Total Development Cost.
method. For turnkey projects, there will be less administration
activity than for conventional projects. The amounts for the
D. Subpart IV – New Construction-Prototype Comparison
various subaccounts shall be the costs of the items of expense
Percentage The accounts used in this comparison—1460 and
which are directly traceable to and essential in the planning,
1465 (lines 3, 4, 45 and 46)—should be carefully prepared. It is
construction and completion of the project, and the prorata
particularly important that nondwelling construction and equip-
amounts of the PHA's total administration costs with respect to the
ment costs (chargeable to Accounts 1470 and 1475) not be
items which are not wholly traceable to the project. Administration
combined with the dwelling construction and equipment costs in
(1410) and Planning (1430) Costs ordinarily terminate with the
Accounts 1460 and 1465 because this could adversely affect the
End of the Initial Operating Period. After this date, only costs of
prototype comparison percentage. Care should also be taken to
personnel employed full time in development work may be charged
assure that, in the case of a turnkey project where the developer
to these accounts.
and the PHA will each provide certain items of dwelling equipment,
the amount in Item A2 of this Subpart is the sum of lines 4 and 46.
form HUD-52484 (8/96)
ref Handbook 7417.1
Page 5 of 5
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal