Project Monitor Fees

To undertake Project Monitoring Services in line with a procurement exercise undertaken by the HCA-I NEYTH Transactions team in September 2015: \\hca.local\wa\IR\1.0 LAND & REGENERATION\1.1 Programme Management\1.1.1 Programmes\1.1.15 BFF\Due Diligence\NEYH\MS Work

Following previous discussions and the Monitoring Services tender for the North East BFF transactions this ITP has been set up to formally appoint GVA to undertake the role of Monitoring Surveyor for the BFF transaction known as Manor Buildings, which is located in Bradford, West Yorkshire.

The Scope of Services and Project Information Sheet have been provided seperately to Mark Blenkinsop.

The Agency will directly pay the Monitoring Fees and seek reimbursement of costs from the Borrower.

It is anticipated that 15 no. Monthly Monitoring Reports will be required in addition to an Initial Report. Fees per reported are agreed at £750, with the Initial Report fee of £2,500. Total fees are expected to be £13,750. HCA will require a monthly report throughout the construction period until the point that the HCA's loan facility is repaid. The term of required service is therefore dependent on development progress and subject to change.