Project Finance

• Preparation of an "Initial Project Review Report" which includes the review of and verification that the presented project budget including construction, land, soft, finance, and direct costs are adequate to complete the given project.  Each report is tailored to meet and exceed all project specific lending requirements as outlined in the project financing agreement(s) and typically includes review of items such as contracts and agreements (construction and professional), projected schedules and cash flows, drawings and specifications, permits, insurance, title documents, sales details, appraisals, geotechnical and environmental reports.  Comments are detailed throughout our reports for each relevant item.  Our report advises the appropriate parties as to whether or not all requirements have been met as outlined in the project financing agreement(s).
• Preparation of monthly "Progress Reports" which include ongoing review of the above along with updates to the same (ie: project insurance renewals, new sub-trade contracts) as required.  Costs in place are monitored against each specific budget line item with adequate costs to complete being maintained along with an appropriate contingency allowance.    Verification of payment by means of cancelled cheque reviews, general ledgers, invoices, and Statutory Declaration forms, as required, are also included.  Holdback accounts are monitored as per the provincial builder's lien act requirements.  Bernier Cost Management Ltd. also co-ordinates the various inspection reports as required by the project professionals.