Due-Diligence and Pre-Development

I. Due Diligence

1. Based on the expertise of COR Consulting, LLC and trusted Consultants an unbiased and thorough assessment of the condition of any property needs to be undertaken. Through investigation and reporting of land use restrictions, existing parameters, environmental conditions, and geotechnical conditions information is gathered about entitlements, encumbrances, and anticipated costs for development which, assists in formulating realistic expectations regarding the use of the property.
2. Due Diligence efforts are required to find out about the background of the property providing two key benefits for the risk-assessment of the project.
3. First – assessment that the Client is not exposing themselves to excessive risk and is limiting unknown cost.
4. Second – providing detailed knowledge of the project conditions and costs allows an evaluation and economic assessment to set the parameters needed in negotiating land costs and end-user rental rates.
5. this role, COR provides the Client with both the intelligence and analysis to enable them to identify, manage, and mitigate risks thus determining project feasibility.

II. Elements of Pre-Development Investigation and Due-Diligence Reporting 

• ALTA and Topographic Surveys
• Zoning and Building Code Analysis 
• Review of Land-Use Documents 
• Reciprocal Easement Agreements (REA’s)
• Declarations
• Easements, Conditions, Covenant, and Restrictions (ECCR’s)
• Traffic Impact Study(s)
• Wetland Delineation & Mitigation Studies
• Storm-water Management and Detention Parameters
• Environmental & Geo-Technical Reports 
• Environmental Site Assessment Reports (Phase I & II)
• Asbestos Survey
• Geotechnical Soils Reports
• Facility Assessments
• Feasibility Studies 

1. Provide planning for a long-term sustainable roadmap for using, acquiring, developing, and managing the space requirements of the project interior and exterior.
2. The site and space planning process has five basic phases:
3. Input – engage the Client, Tenant, Municipality, and Civic partners to identify their requirements, needs, parameters, parking, and spatial priorities within the project.
4. Analysis – review and work with Client and consultants to complete analysis of input, best practices, and project data.
5. Plan Development – with Client, consultants and team partners synthesize the analysis findings into specific recommendations for the project – including its creation, preservation, improvement, implementation, and management.
6. Flexibility – revisions to project planning to the ever changing and complex market conditions to implement and put forth the best plan possible with the information and input gathered at that time.
7. Implementation - use the plan documents as a guide to implement the approvals and project goals.
8. Site Investigation:
9. Zoning and Local Code Analysis
10. Site Planning Studies

IV. Project Budgeting, Cost Analysis, and Performa(s)

1. Strong, reliable project cost information is fundamental to the implementation of any project. COR Consulting, LLC can prepare strong and reliable project budgets that have a basis in the latest cost data. Furthermore, cost variances are tracked as the project progresses towards completion.
2. A reasonable budget involves bringing the entire team together. Each of the major components are reviewed for possible value engineering in terms of constructability, construction cost savings, and schedule considerations.
3. Established budget amounts for each category are reviewed and updated as needed to assist the Client in monitoring and maintaining the budget
4. Involvement in the design process allows evaluation of design options which affect the budget for presentation to Client.
5. COR Consulting, LLC can assist Client in preparation of Performa(s) to determine economic feasibility of the project.

• Land Basis Cost
• On-site and Off-site Infrastructure Construction Costs
• Building Construction Costs
• Shell Construction
• Build-to-Suit Construction
• Extra Ordinary Costs
• Environmental Clean-up
• Poor Soil Contingency
• Utility Relocation
• Architectural, Engineering, and Consultant Fees
• Governmental Fees
• Legal Fees
• Impact Fees (Traffic & SAC/WAC)
• Tenant Allowances
• Tenant Improvement Costs

V. Scheduling

1. COR Consulting, LLC will develop Critical Path Schedule and time lines that identifies key target dates and tracks progress through the completion of the project. The detailed master schedule shall consist of all activities including design process and review, entitlements, permitting approvals, bidding activities, start of construction, substantial completion, and occupancy.
2. With land carry costs, interest on financing, lengthy municipal approval periods, and the other complexities a Critical Path Schedule is crucial in understanding, tracking, and managing the progress of a project.
3. The master schedule will be updated as needed to reflect changes in direction, scope, or schedule.
4. Maintaining accountability to the master schedule with Client, Municipality, each Consultant, Designer, and Contractor is at the root of COR’s philosophy. “When a project is completed on time and on budget the Clients and Tenants goals can be realized in receiving rent and ringing in sales.”

VI. Consultant Selection / Selection of Project Team Members

1. Having the right mix of professionals has a significant impact on the successful completion of any project. COR Consulting, LLC utilizes its established relationships and strong partnerships with a multitude of architects, engineers, attorneys, professional consultants, and contractors to solicit and procure the most qualified team members.
2. COR will solicit and procure Proposals from pre-qualified consultants for each disciple of the project to compose the project team.
3. COR will review qualifications and proposal statements from consultants and summarize information for review with Client’s leadership team.
4. COR will assist in negotiation of fees and contracts with project team consultants consistent with industry standards.