Project Proposal Basics
Ask yourself the following questions in regards to project proposal basics:
- What is required to be completed?
- Purchase Property.
- Sell Property.
- Lease Property.
- Construction, Renovation, Repairs.
- Where is the project located?
- Why does the project need to be completed?
Note: The rationale as to why the project is necessary is required to be included in the detailed cover letter.
- Who will complete the project work?
- Licensed Contractor.
- Proof of good standing online varies by State.
- Contractor Certificate of Insurance (COI).
- Minimum of 2 comparable bids.
- Comparable materials.
- Quality of workmanship.
Note: A 3rd bid is required if there is more than a 10% difference between the first 2 bids
Note: Who will complete the work is required information that is needed in the detailed cover letter.
- How much will the project cost?
- All applicable sales tax is required to be included.
- Cost is required to be separated by vendor.
Note: How much the project costs is required information that is needed in the detailed cover letter.
- How will the project be funded?
- Identify funding source (e.g., local, trust, insurance, grants).
Note: How the project is funded is required information that is needed in the detailed cover letter.
Note: Some deferred maintenance projects require 20% local funds.
Note: Insurance funded projects have a $2,000 deductible to be funded locally.
Note: If a local unit is facing financial difficulty, the use of the trust funds may be requested.
- When will the project be approved?
- Allow for sufficient time for processing.
Note: Contracts/Agreements require THQ legal review prior to being received at THQ.
- Projects may require Territorial Program review.
- Program review is completed at the Divisional level prior to submission to THQ.
- Projects are required to be processed through CFC prior to submission to THQ.
- Have a completed checklist with corresponding documents for project submittal.
- Providing a complete packet to DHQ ensures prompt handling.