Fee Based Development

• OWNER’S REPRESENTATIVE


• FEE DEVELOPER


• DEVELOPMENT CONSULTANT


• PROJECT/CONSTRUCTION MANAGEMENT

OWNER’S REPRESENTATIVE

As an Owner’s Representative, VOD will take on all responsibilities of an absentee or passive owner in the development process. A detailed agreement with the Owner will specify the scope of duties and authority assigned to VOD. In this capacity, VOD effectively acts as the owner in their absence, while maintaining ongoing communication and reporting to apprise the Owner of the project’s status.

VOD will assemble and direct the Project Team, including the architect, contractor, engineers, and other necessary professional services. We will carefully define each team member’s role to assure that his/her expertise is best utilized and duplication of effort is avoided. VOD will coordinate all Project Team meetings and communication. We become the primary contact for the Owner, streamlining the communication process.

VOD and the Project Team will: carry out all activity necessary to define the project’s market; conceptualize, plan, and design the project to meet that market; obtain all entitlements for the project; build public and governmental support of the project; attract interest in the project from prospective tenants and/or purchasers; arrange debt and/or equity for the project, as required; and prepare the project for construction.

VOD’s fee as an Owner’s Representative is based on time and expenses. Our current fees are $200 per hour for professional time and $60 per hour for administrative time, plus actual out-of-pocket expenses. Our Owner’s Representative Agreement is cancelable upon 30 days notice if for any reason you do not feel we are bringing value to your project.

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FEE DEVELOPER

As a Fee Developer, VOD will take on all responsibilities of the development process. A detailed agreement with the Owner will specify the scope of duties and authority assigned to VOD.

VOD will assemble and direct the Project Team, including architect, contractor, engineers, and other necessary professional services. We will carefully define each Team member’s role to assure their expertise is best utilized and duplication of effort is avoided. VOD will coordinate all Project Team meetings and communication. We become the primary contact for the Owner, streamlining the communication process.

VOD and the Project Team will carry out all activity necessary to define the project’s market: conceptualize, plan, and design the project to meet that market; obtain all entitlements for the project; build public and governmental support of the project; attract interest in the project from prospective tenants and/or purchasers; and prepare the project for construction. Additionally, VOD will establish and maintain the project schedule, review and approve all contractors’ and subcontractors’ bids, assure compliance to project budget, conduct field inspections of project progress, resolve design and construction problems, schedule and attend inspections, approve all change orders, coordinate owner-tenant concerns, prepare punch-lists, obtain occupancy certificates, and place the building in service.

Fee Developer services are provided on a percentage fee basis. The fee is based on the total project cost. VOD’s percentage fee is on a sliding scale, reducing as the size of the project increases.

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DEVELOPMENT CONSULTANT

As Development Consultant, VOD will provide consultation to the owner/developer regarding any requested elements in the development process. This could include, but would not necessarily be limited to: input on concept and design, site analysis and selection, review of real estate contracts, market analysis, review of cost analysis and pro-formas, review of contractor’s bids, assisting in entitlement/permitting, and review of marketing/leasing plan. This service is best utilized by owners/developers who plan on taking an active role in developing their project, but would like the benefit of professional, objective advice on an as needed basis.

Development Consulting services are provided on an hourly fee basis, affording great flexibility to the owner/developer. VOD’s Development Consulting fees range from $200 - $300 per hour, depending on the anticipated scope of involvement. Our Development Consulting Agreement is cancelable upon notice, if for any reason you do not feel we are bringing value to your project.

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PROJECT/CONSTRUCTION MANAGEMENT
VOD provides comprehensive Project and Construction Management services. This service includes but is not necessarily limited to: coordination of the development team, scheduling and directing all development team meetings, establishing and maintaining the project schedule, obtaining necessary permits, reviewing and approving all contractors’ and subcontractors’ bids, assuring compliance to project budget, field inspections of project progress, troubleshooting design and construction problems, scheduling and attending inspections, approving all change orders, coordinating owner/tenant concerns, preparing punch-lists, obtaining occupancy certificates, and placing the building in service. As Project/Construction Manager, VOD becomes the primary point of communication for the owner/developer during construction.

VOD prides itself on bringing projects in on time and on budget. Our established relationships with professional service providers, contractors, and government officials assure a successful construction phase. Our attentiveness and persistence allows us to quickly and effectively resolve project-related issues, when they do arise. Project/Construction Management services are provided on a percentage fee basis. The fee is based on the total construction cost. VOD’s percentage fee is on a sliding scale, reducing as the size of the project increases.