Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 24 DEVELOPMENT: THE DYNAMICS OF CREATING VALUE Test Problems 1. The first step in the process of development is to: a. Establishing site control. 2. To gain control of a site, a developer may use: e. All of the above 3. Which of these stages of the development process comes first? a. Feasibility analysis, refinement, and testing 4. All of the following are valuable in facilitating the development permitting process except : d. Establishing the strength of your legal position early in the process. 5. A method of construction where the actual construction begins before the design is finished is known as: d. Fast-track. 6. In a land-development, the primary design professional is a : c. Land planner. 7. Soft costs include all except: e. Land improvement costs. 8. Which statement is incorrect concerning the typical construction loan? d. The loan extends a few years after a certificate of occupancy is issued. 9. The professional responsible for determining adequate specifications for building footings and foundation is a: d. Soils engineer. 10. When construction costs exceed the amount of the construction loan, a developer frequently will seek to cover the “gap” with: c. Mezzanine financing. Study Questions 1. Why is the permitting stage of development often the riskiest stage of the process? 24-1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Solution: The process of obtaining permitting entails a commitment of significant time and cost. However, the ultimate outcome is uncertain as to whether the project will go forward. Public hearings, for example, are especially treacherous for developers because the local land use authorities may effectively kill a project. Furthermore, community opposition to the developer’s plans may result in costly
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/31/2008 for the course REAL 3000 taught by Professor Peng,liang during the Spring '08 term at Colorado.

Page1 / 3


This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online