Contract Administration CHDO RFP FAQ's

Question #1

We are wrapping up our report but just need a definite definition of "soft costs" on page 20 in the Development Costs Sect. 2-b.

Answer

Here's a definition of soft costs from the Building HOME manual:

"Staff and overhead costs incurred by the subrecipient that are directly related to carrying out specific HOME projects. They are:
-appraisals;
-preparation of work specifications;
-loan processing and underwriting;
-construction inspections and oversight;
-inspections for the presence of lead hazards or defective paint;
-advisory or other relocation services;
-project-specific environmental reviews; and
-homebuyer and tenant counseling, if the buyer or tenant is HOME-assisted.