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Linkage fees are levied in some states (such as Massachusetts, New Jersey, and California) on nonresidential and market-rate multifamily residential projects, normally upon receipt of the building permit or prior to construction. Linkage fees are a derivative of development impact fees and are exacted on developers by some cities and countries ...
The Supreme Court says home builders in California may challenge the fees commonly imposed by cities and counties to pay for new infrastructure. Builders may fight 'impact fees' that fund ...
Soft Cost is a construction industry term but more specifically a contractor accounting term for an expense item that is not considered direct construction cost. Soft costs include architectural, engineering, financing, and legal fees, and other pre- and post-construction expenses. [1]
The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received. The primary purpose ...
The Target Fee varies between the Minimum Fee and the Maximum Fee according to a formula tied to the Actual Cost (e.g. Target Fee could be 10% of the Actual Cost). Sharing Ratio : the agreed upon cost sharing proportion, normally expressed in percentage (e.g. 85% for the client / 15% for the contractor).
Unaffordability and the pandemic have driven several years of population loss in California, a trend that continued in 2022, when the state lost around 138,400 people, a 0.35% loss.
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
Starting next year, California businesses will be prohibited from using hidden fees to attract customers with seemingly low prices. The rules surrounding “junk” fees — from cell phone to ...