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Construction Administration / Funding Review
HealthLink Development frequently acts as a representative for REITs, Lenders,
Owners, and Operators during the development process to provide construction administration and
draw (application for payment) review. These services generally fall into one or more of the
following categories:
- Project budgeting / pre-construction.
HealthLink has provided limited scope review of project budgeting prior to construction start,
and frequently prior to bidding. The purpose of this review is to generally assure the Client
that the construction documents (plans) are sufficient to produce a bid that is accurate and
sufficient to complete the project within the stated scope of work.
This type of review is generally performed when the scope of work is limited to a specific area
of a building, renovations, or re-programming. This type of review may or may not include a
site visit.
- Post construction / final draw.
In instances where a Facility Operator is sufficiently funded to self fund a construction
project without periodic draws from a REIT or Lender, HealthLink has performed a final
completion evaluation. This evaluation includes a site visit to visually confirm quality
and completion of the work as well as a review of all project financial documentation in
advance of a single, lump sum reimbursement to the Operator in accordance with the
Development Agreement or loan documents.
- Monthly Progress Review.
The majority of HealthLink's construction administration services are in the form of a monthly
review. These services include a monthly or bi-monthly site visit which coincides with the
scheduled Owner-Architect-Constractor meetings to review project schedule, changes,
construction/licensure issues, and budget. HealthLink receives and reviews the monthly draw
request from the contractor, consultants, and Owner to ensure that they are appropriate for
the work complete, contain necessary and proper lien waivers, and that the project is within
the terms of the Development Agreement or loan documents.
Please
click here for a copy of a standard progress
review and funding recommendation (in printable PDF format).
Each site visit is documented with photographs that are posted to a client only section of our
website. This allows for our clients to feel like they have visited the site themselves without
the hassle of sending e-mail with extremely large file attachments. A sample of a photographic
site visit can be
found here.
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HealthLink Development
