12.17.3 Schedule of Values for Reimbursement from the Repair Escrow

A. The schedule of values is the itemized cost estimate for the proposed scope of construction work funded from the Repair Escrow.

1. For Section 223(f) applications with a scope of work described in the CNA e-Tool (see Chapter 5, Section 5.3.3.4), schedule of values are the costs reported in Column B of the Lender’s 223(f) Repairs & Alterations Cost Worksheet (see Chapter 5, Section 5.3.3.5 and Appendix 5, Section A.5.12) with hard costs itemized on the list(s) of repairs and alterations from the approved CNA.

2. For Section 223(f) applications with new tax credits, the schedule of values is the approved form HUD2328.