The construction budget may only include Hard and Soft Costs:
Hard Costs: Consists of all costs involved in the physical construction of the building and its infrastructure which includes all labor, materials, and any associated general contractor fees. A minimum of 10% hard cost contingency must be incorporated into the budget.
Soft Costs: Non-physical construction costs limited to 15% of the entire Construction Budget and may only include required permits, plans/architect fees, third party contractor fees, and city/county inspection fees.