ARE 5.0: PA Questions and Answers Already Passed

ARE 5.0: PA Questions and Answers Already Passed A project site has 50,000 sf of land and 10,000 sf of gross building floor area. The zoning ordinance has a required ratio of 3 sf of parking area to 1 sf of gross building area. How many parking spaces are required at 400 sf/car? 75 3:1 = ___:10,000 30,000/400 = 75 general amount of square footage dedicated to parking space 300-400 sqft (350 sqft is best to use in equations) typical drive aisle width in a parking lot 24 feet typical parking space dimensions 9' x 19' (WxL) The higher this value, the better the material's chances of reducing the heat island effect SRI (Solar Reflectance Index) Maximum length corridor with a dead end 20 ft charged to specific project/bonds/insurance/temp facilities/permits/transportation Project Overhead cannot be attributed to project/rent/utilities/advertising/office supplies/legal expenses General Overhead A negotiable loan (debt security) issued by a government entity 'bond' in financing a municipal bond that uses legally available resources to repay bond holders; funds public projects/no revenue/voter approval/repaid via property taxes Ex: School General Obligation Bond Funds public project/yes revenue/re aid via revenue. Ex. Airport Public Enterprise Revenue Bond used for purchase of land that developer intends to subdivide and resell Blanket loan secured by property purchased Conventional mortgage short term loan used to close quickly on property or to finance project that must begin immediately Bridge loan large loans with variable interest often used by developers/ stock in developers company is used as collateral Mezzanine loan based on value of property Hard Money loan a program that enables cities to use tax revenues generated by a development project to help finance the construction of the new private project through bonds given to developers and/or direct tax incentives Tax Increment Financing (TIF) Fees imposed on developers in order to pay for the improvements to off-site infrastructure (such as roads, utilities, etc) that the new development make necessary. Development Impact Fees usually consist of several small convenience and specialty stores Ex: Groceries as an anchor, Avg: 40,000 sf Neighborhood Center designed to serve an area within a 3 to 5 mile radius with a wider variety of merchandise than a neighborhood center Ex: Large supermarket, Avg: 150,000 sf Community Center a shopping center that contains between 300,000 and 750,000 square feet in gross leasable area and contains at least one full-line department store Ex: Malls