What's Important and When
You'll Need a Site for That
Ensures that the design and management and inspection (M&I) budgets
are sufficient.
Sites are the most obvious
prerequisite for a good
Provides a sound estimate for construction costs of the shell, TI, and GSA-
project, but planning for site
provided security improvements.
costs can be tricky. Land
Program Development Study
costs can vary significantly,
Ensures that the construction funding request is sufficient.
even within a submarket,
and a site's availability and
Refines construction or site prep costs, as needed, to provide a sound funding
suitability can change.
request for the shell, security improvements, and TIs.
Although site acquisition
Complies with courthouse or border station program and Cost Benchmarks,
occurs later, the Feasibility
where applicable.
Study should identify the
relevant site acquisition
Financial Analysis
issues and potential volatility.
Both Feasibility Study and PDS documents, as well as the Capital Program submission
A skilled appraiser who
that they support, must meet Planning Call requirements for financial analysis.
knows the local market must
look at potential sites and
Typically, these include the pro forma, the return on investment (ROI) analysis, and
provide supportable future
The Automated Prospectus System (TAPS) analyses for both design and construction
site costs for input into the
phase funding requests. Although professional services firms may develop the inputs
analysis. This is necessary
to these analyses (especially for complex projects), Real Property Asset Management
to develop a sufficient
staff and the project teams must run the final models and thoroughly understand the
budget that is defensible to
stakeholders.
inputs in order to support the project through the authorization process.
The Site Selection Guide is
Pre-Planning
a key resource to use when
Maintains skills to perform financial analysis.
developing effective site
acquisition strategies and
Feasibility Study
budgets.
Refines all of the estimates for feasibility analysis, including estimates required
to compare the preferred alternative to other viable alternatives.
Provides inputs for financial analysis as specified in the Planning Call, including
vacant space created during construction, and swing space costs.
Program Development Study
Provides sound estimates for construction cost and implementation analysis,
including sufficient estimates required to compare the preferred alternative to
other viable alternatives.
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