A.5.9.2.1 New Construction and Substantial Rehabilitation

A. HUD cost review of Lender's Construction Analyst cost review report for firm exhibits new construction and substantial rehabilitation:

HUD Office Name:

Firm Commitment Submission Date: Project Name: Project Location (City, State): MAP Lender Name:

• B. Summary of HUD cost review:

1. Firm Commitment deliverables (Review for completeness only). If not acceptable, indicate reasons .

   • Lender’s Cost Analyst Cost Review Report:

• 1. Lender’s detailed cost estimate
• 2. Comparison of Lender’s and General Contractor’s cost estimates
• 3. Prior approval of Identity of Interest subcontracts
• 4. Property Insurance schedule
• 5. For substantial rehabilitation projects, include the Lender’s estimate for Annual Deposit to the Replacement Reserve.

Completed Forms with signatures:

• 1. Form HUD-92264
• 2. Form HUD-92326
• 3. Form HUD-92331-B
• 4. Form HUD-92329
• 5. Form HUD-2328

Subcontracts for Identity of Interest subcontractors

2. HUD Cost Review. If not acceptable, indicate reasons.

   • Comparison of Lender’s cost estimate and contractor’s form HUD-2328 with HUD cost data:

• 1. Total Structures
• 2. Total Land Improvements
• 3. General Requirements
• 4. Fee items

MAP Guide, March 2021 Go to beginning of Appendix 5

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Appendix 5 Page A5-62

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Appendix 5 Architectural and Construction Analysis A.5.9 HUD Cost Reviewer Reports Format

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• 5. Cost Not Attributable items

Examination of Lender-contractor variance report (form HUD-2331-B)

• Examination of:

• 1. Identity of Interest relationships
• 2. Applications for prior approval of Identity of Interest subcontractor overhead and profit
• 3. 50%-75% Rule compliance

Examination of Property Insurance Schedule

• C. I have reviewed the subject project and hereby make the following recommendation(s):

Reviewer

Name of Reviewer:

Signature and Date of Review:

Date:

Concurrence

Name of Team Leader: Signature and Date of Date: Concurrence: