There has been a strong group of architectural and constructural peer reviewers as part of this process. The Technical Build Sub-Committee wants to ensure that value engineering is applied estimate and that the square footage requirements are consistent with industry standards. The Technical Build Sub-Committee will also be looking at the unit costs of construction, as well as escalation costs. Finally, the Technical Build Sub-Committee will take a serious look at the escalation cost. As a project is developed, estimates are done with respect to how much costs will increase over time.
Escalation can have a tremendous impact on costs based on the projected completion dates.
However, the EIR can be focused and done within 12 months if the project does not vary significantly from the campus' current use. This essentially means that if the campus has a skilled nursing facility and also some assisted living that would seem appropriate. However, if the proposal is for a significant number of assisted living units or for a different use of a campus, then a full EIR might be necessary. Mr. Funk noted that the currently the EIR should not impact the overall project schedule. Mr. Funk also indicated that the Technical Build Sub-Committee will be doing an analysis of the soft cost which are reflected in all construction projects.