Real estate projects are a major undertaking and a significant milestone for a nonprofit, yet often outside the scope of expertise of senior management or boards of directors. IFF’s team of real estate professionals guide and assist nonprofits to achieve their real estate goals and avoid costly pitfalls, while allowing organizations to remain focused on their mission.
Polk Bros. Foundation has supported IFF’s Real Estate Consulting program for many years. This year, the Foundation has provided IFF a special grant to subsidize our fees for Polk Bros. Foundation grantees that are planning for new or renovated space. Thanks to the grant, for a limited time, IFF is able to offer some of our affordable consulting services at an even lower cost.
This generous grant subsidizes up to 65 percent of IFF’s fees for the following services:
To help an organization determine whether a real estate development project is financially and operationally feasible, IFF staff will:
- Work with key senior management and board members to understand the organization’s current space needs and long-term goals
- Evaluate a current facility or potential new facility to understand facility needs and challenges
- Prepare a financial assessment to determine whether a project is viable
- Present to agency leadership a range of facility development options (lease vs. buy, renovate vs. build)
IFF’s fee for a feasibility study typically ranges from $7,000 to $10,000.
Site Search, Evaluation, and Due Diligence Services
To ensure an organization ultimately secures the right facility at the right price under the best possible terms, IFF staff will:
- Identify site search parameters including size, cost, target location(s), and other requirements based on current needs and long-term goals
- Identify and evaluate sites for programmatic, structural, and cost fit
- Rank each site across identified parameters and recommend best options
- Manage all due diligence related to site control including: conduct final inspection, prepare preliminary architectural drawings, and negotiate lease or purchase contract
IFF’s fee for site search, evaluation, and due diligence is typically $10,000 – $15,000.
Predevelopment and Construction Oversight
To help nonprofits manage the predevelopment and construction process:
- Serve as owner’s representative by developing and managing project schedule and budget as project moves from design through construction to closeout
- Oversee design and permit phases including selection of architects and contractors to ensure program needs of agency are met
- Monitor construction and close-out phases including construction pay applications and reviews; assist in value engineering and coordination with contractors and vendors; and ensure final occupancy
IFF’s fees for energy performance evaluation and other E2P services are based on facility size and scope of project. Visit iff.org/e2p for more information.
If your organization is planning a facility project, IFF would enjoy the opportunity to learn more about it and provide a proposal for services to help ensure your success. Email or call us at 866 629 0060 about your next project.