Illinois Administrative Code › Title 77 - PUBLIC HEALTH › Part 1125 - LONG-TERM CARE › Subpart F - FINANCIAL AND ECONOMIC FEASIBILITY - REVIEW CRITERIA › Section 1125.800 - Estimated Total Project Cost

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				All applicants shall address the requirements listed in this Section, as
				applicable. The applicant shall provide project cost information for each of
				the following components as is applicable. When a project or any component of a
				project is to be accomplished by lease, donation, gift or any other means, the
				fair market value or dollar value that would have been required for purchase,
				construction or acquisition shall be included in the estimated total project
				cost.
1) Preplanning costs - includes costs
				incurred prior to the submission of an application, such as development and
				feasibility studies, market studies, legal fees, bid solicitation,
				etc.;
2) Site survey and soil
				investigation fees - includes costs for surrounding surveying of a proposed
				project site and resulting soil investigation fees;
3) Site preparation - includes costs of
				rental equipment for earthwork, concrete, lifting and hoisting, site drainage,
				utilities, demolition of existing structures, clearing, grading and
				earthwork;
4) Off-site work -
				includes costs of drainage, pipes, utilities, sewage, roads and
				walks;
5) Construction and
				modernization contracts - includes expenses covered under the construction
				contract, including major medical and other fixed equipment, contractor's
				overhead and profit;
6)
				Contingencies - means an allowance for unforeseeable events relating to
				construction or modernization;
7)
				Architectural & engineering fees - includes fees associated with the
				development and implementation of drawings and design materials for a proposed
				project;
8) Consulting and other
				fees - includes charges for the services of various types of consulting and
				professional expertise, including environmental impact, acoustical studies,
				computer software fees, etc.;
9)
				Movable capital equipment not in construction contracts - includes the cost of
				all movable capital equipment, including any movable major medical equipment
				and the cost of installation of the equipment, excluding any trade-in
				allowances on existing equipment;
10) Bond issuance expense - includes all
				costs associated with the issuance of bonds to finance a project, including
				issuer's fees, bond counsel's fees, official statements (feasibility study),
				official statement printing, printing of bonds, survey of the collateral site,
				title insurance to property, auditor's fees, trustee fees, underwriters'
				discount and government fees (if applicable);
11) Net interest expense during construction
				- means the difference between interest earned on funds for construction and
				interest expense on the amount of borrowed funds;
12) Other costs to be capitalized - includes
				miscellaneous fees and working capital expenses related to the project;
				and
13) Acquisition of buildings or
				other property - includes the cost incurred (or the fair market value) for the
				acquisition of buildings or property for the project. Any acquisition that has
				occurred within two years from the date the application for permit is submitted
				must be included as part of project costs.