5.6.3 Documentation at Firm Commitment

A. The Firm Commitment may be conditioned on the timely receipt and satisfactory review of complete and final plans, specifications, and cost estimates, provided that the Lender’s submission of less than 100% of the drawings, specifications (i.e., schematic/line/working drawings) and cost estimates provide the following detail:

1. The static footprint of the building or buildings together with proposed site improvements on the surveyed site plan as well as any proposed easements and/or off-site improvements with survey detail, consistent with the requirements for surveys described in Appendix 5, Section A.5.1;

2. The gross building and net residential square footage for the project;

3. Dimensioned unit layouts for each unit type for new construction or substantial rehabilitation or for reconfigured spaces in Section 223(f);

4. Dimensioned floor plans and elevations for each building type;

5. Sufficient design detail to determine the Davis-Bacon wage rate classification for new construction and substantial rehabilitation;

6. Sufficient design detail to determine compliance with accessibility requirements in Appendix 5, Section A.5.2;

7. Sufficient design detail (wall cross-section details) to determine structural framing and exterior wall finishes for new construction and substantial rehabilitation and other repairs and alterations, when applicable;

8. A summary interior finish schedule identifying proposed interior finishes for units, including kitchens and baths, as well as for building common spaces and accessory structures;

9. Sufficient design detail to determine building mechanical systems;

10. Sufficient design detail to determine the scope of site development and off-site construction;

11. A written cost estimate (form HUD-2328) from the General Contractor, if any;

12. The Lender’s Construction Analyst’s cost estimate (HUD-92326);

13. The Lender’s review and comparison of the General Contractor’s cost estimate with the Lender Construction Analyst’s estimate on form HUD-92331;

14. For new construction and substantial rehabilitation (a) the proposed but unsigned owner-contractor agreement for construction (form HUD-92442M) indicating any selected options (e.g., incentive payments) or special conditions and the Supplemental Conditions (form HUD-92554M). For Section 223(f), the AIA A104 agreement is used if General Contractor is used;

15. Project Architect’s or Needs Assessor’s CNA reviewed by the Lender’s Construction Analyst with the Lender’s financial plan for funding future capital needs, all in accordance with Appendix 5, Section A.5.7. Such CNA may be based on less than 100% complete construction documents and be amended at the time the 100% set is submitted;

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16. For applications in pursuit of Green MIP rate, plans and specs at the level of completion that the chosen Green Certification standard keeper is able to verify achievement(s) of required milestones and be on track to achieve the actual Certification within the required timeline; and

17. For substantial rehabilitation, the Project Architect’s detailed inspection report and work write-up.