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<br />VII INDIRECT COSTS
<br />SECTION VII
<br />INDIRECT COSTS
<br />Indirect costs include on -site consultants, architects, taxes/title insurance/land escrow,
<br />overall project contingency, insurance, site development field expenses, on -site
<br />construction management costs (lot improvement field management), development
<br />operations expenses (vertical construction field management), and general and
<br />administrative expenses.
<br />Table 46: Indirect Cost Allowance
<br />On -Site Consultants, Including Architects
<br />$1,878,983
<br />$684,168
<br />$1,126,850
<br />$3,690,000
<br />Taxes/Title Insurance/Land Escrow
<br />$1,484,144
<br />$443,548
<br />$359,554
<br />$2,287,246
<br />Overall Project Contingency
<br />$14,841,437
<br />$4,435,479
<br />$3,595,541
<br />$22,872,456
<br />Insurance
<br />$22,227,017
<br />$6,642,717
<br />$5,384,798
<br />$34,254,531
<br />Site Development Field Expense
<br />$2,465,737
<br />$736,905
<br />$597,358
<br />$3,800,000
<br />On -Site Construction Management Fee
<br />$2,271,073
<br />$678,728
<br />$550,199
<br />$3,500,000
<br />Development Operations Expense
<br />$1,687,083
<br />$504,198
<br />$408,719
<br />$2,600,000
<br />General and Admin Expense - 2.0%
<br />$29,682,874
<br />$8,870,958
<br />$7,191,081
<br />$45,744,912
<br />Total Indirect Costs
<br />$76,538,347
<br />1 $22,996,699
<br />$19,214,099
<br />$118,749,145
<br />Related Bristol at 3600 South Bristol Street
<br />Land Residual Value Study Report
<br />Exhibit 10
<br />September 27, 2023
<br />31
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