J.S. ALTIMORE, llc
Construction Management Services
Lending institutions must properly assess the developer's ability to complete the construction project within specified cost and time limits. The Construction Loan Administrator will provide due diligence services and reporting to allow for the lender to accurately make the required assessments. This administrator will be activity engaged in the project throughout the life of the loan performing a series of document and budget reviews as well as scheduled site inspections.
Project Documentation Review and Budget Analysis
Prior to loan closing, J.S. Altimore, LLC performs due diligence services in order to ensure security of the proposed investment. Our plan and cost review services assist in the proper underwriting of construction loans and monitoring of the construction activities. We provide our clients with the information needed to evaluate proposed construction projects and the related budgets. The following highlights the project documentation review and budget analysis services we provide.
A project summary is included in each project documentation review and budget analysis. The summary provides an abstract of the project details which include description, location, team members, cost, and building components.
J.S. Altimore, LLC performs constructability reviews of the project drawings and specifications. The purpose of the review is to verify the construction documents are sufficient and with an adequate level of detail; to confirm the drawing and specifications are in general compliance with standard architectural, engineering, and construction practices; and to verify the adequacy of the documents for the purposes of construction monitoring.
J.S. Altimore, LLC verifies the applicable contractual requirements are present in the project documents and are abided to in each of the borrower’s contracts. Professional opinion is provided regarding the construction costs, alternates, allowances, and other unusual conditions.
Contractor Schedule of Values Analysis
J.S. Altimore, LLC reviews the contractor’s schedule of values and compares it to the contractual requirements and validates it for the purposes of loan disbursement evaluations.
Construction Cash Flow Analysis
J.S. Altimore, LLC reviews the project’s projected cash flow. A comparison with the project schedule is executed to determine the accuracy of the projected cash flow report.
The project budget comparison provides our clients with information to evaluate the adequacy of the proposed construction budget. We review the construction estimates and budgets and provide a detailed comparison analysis of the proposed budget based cost of similar project types and sizes with regional construction cost adjustments.
J.S. Altimore, LLC verifies the applicable insurance and bonding requirements are present in the contract documents and meet the lender’s expectations. Any variation of the requirements will be reported to the appropriate parties.
J.S. Altimore, LLC assesses the feasibility of the project schedule and provides an analysis to our clients showing its adequacy.
J.S. Altimore, LLC reviews the consultants’ contract values as compared to the contractual requirements and validates the values for the purposes of loan disbursement evaluations.
