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C. Financial Analysis <br /> 1. Calculate fair mazket value based on assessed value or appraisal as needed. <br /> 2. Prepare inspection request form, listing approved loan amount and fair market value of <br /> property. <br /> Note: If during the application process an applicant is not eligible, the next applicant will be <br /> processed. <br /> D. Construction Monitorin <br /> g <br /> 1. Schedule and conduct code inspections on the subject dwelling; terminate project if <br /> structure is dilapidated and therefore infeasible for rehabilitation. <br /> 2. Review the list of deficiencies including code violations, incipient code violations, <br /> general improvements and a preliminary cost estimate. <br /> 3. Deternune fmancial feasibiliry of project. <br /> 4. Assess and define azeas to be rehabbed. <br /> 5. Review the estimates and/or bid specifications prior to the issuance of Request for <br /> Proposal(by the owner)to qualified contractors based upon bid specs. <br /> 6. Participate in the bid opening. Review contractor proposals for cost reasonableness and <br /> compliance. <br /> 7. Approve contractor's proposaL , <br /> 8. Conduct pre-construction conference. Identify subcontractors to be used prior to starting <br /> the job. �! <br /> 9. Conduct the loan closing with property owner to sign the loan note and mortgage. I <br /> 10. Participate in the contract signing between the property owner and the contractor. , <br /> E. Contra.ct Management to be conducted by the Neighborhood Service Officer(NSO) '� <br /> 1. Inspect rehabilitation work on a regular basis to see that all work is progressing <br /> satisfactorily and to monitor the quality of materials and workmanship. 'i <br /> 2. The owner will be responsible for supplying copies of the manufacturer's and supplier's � <br /> warranties, release of liens including: all subcontractor lien waivers, final invoices, <br /> contractors' swom statements and a warranty from the general contractor prior to fmal <br /> payment for rehabilitation work. <br /> 3. Make final inspection of rehabilitation work to insure conformance with contract <br /> specifications. Complete Certificate of Final Inspection when appropriate. <br /> 4. Make follow-up inspections of rehabilitation work as needed. <br /> 5. Submit photographs of completed project. <br /> F. Project Closeout <br /> Re-obligate any unused TIF funds for future residential rehabilitation programs <br /> 7 <br />