2-Due Diligence Cost Estimate Form.xlsx

This is a Due Diligence Cost Estimate Form provided by Monroe County, Florida, in conjunction with the Multifamily SHIP (State Housing Initiatives Partnership) Application 2025 Request for Applications. The form serves as a comprehensive cost estimation template for multifamily rental housing development projects seeking SHIP funding. The document outlines a detailed breakdown structure for applicants to document all anticipated project costs across six primary categories: construction and building costs (including demolition, new unit construction, rehabilitation of existing units, and accessory structures), contractor costs, general development costs (such as architectural fees, engineering, environmental reports, permits, and inspections), financial costs (including construction and permanent loan expenses), developer fees, and acquisition costs for land and existing buildings. Applications will be accepted beginning August 10, 2026, with submissions received prior to this date considered as received on the opening date. The application process requires complete documentation to avoid processing delays, though submission does not guarantee funding.

The Due Diligence Cost Estimate Form functions as a financial planning tool requiring applicants to itemize expenses in granular detail to demonstrate project feasibility and appropriate use of SHIP funding. This standardized form ensures consistent evaluation of multifamily projects according to priorities and eligibility requirements established in the Monroe County Local Housing Assistance Plan (LHAP) and the SHIP Program guidelines. The form accommodates various project types including new construction, rehabilitation, and mixed-use developments with accessory components. Applicants must provide thorough cost justifications across all categories, with particular emphasis on construction, development, and financing expenses that directly impact project viability and funding requirements. The form's comprehensive structure reflects SHIP's commitment to rigorous due diligence in allocating state housing assistance funds for multifamily rental housing initiatives serving diverse communities.