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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 ...
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 deal reached financial close on April 13, 2012. The cost of the project, at financial close was $2.1 billion. [18] ERC eventually received $300 million from VDOT, $663.75 mil from the Virginia Small Business Financing Authority [19] and $422 million from the U.S. Department of Transportation, all of which went to pay down the toll rate. [18]
Still, with houses averaging $625,065 and relatively reasonable design fees of $22,000 on average, the math might work in your favor. New York Don’t sleep on New York.
A major project to dualize its bridges was completed in 1999, and in 2017 a similar project was started to dualize one of its tunnels. [ 2 ] With 12 miles (19 km) of bridges and two one-mile-long (1.6 km) tunnels , the CBBT [ 1 ] is one of only 14 bridge–tunnel systems in the world and one of three in Hampton Roads.
A cost plus contract states that a client agrees to reimburse a construction company for building expenses such as labor, materials, and other costs, plus additional payment usually stated as a percentage of the contract's full price. This type of construction contract is an alternative to lump sum agreements.
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
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