Third Party Plan and Cost Reviews
                      Report Specifications
    Sponsor Name:
    AHP Project No.    HP Project Name:
    GENERAL REQUIREMENTS
    1. The Sponsor will commission the Plan and Cost Review and must ensure that the Plan and Cost 
    Review Provider is qualified, as an Architect or Engineer with the requisite level of experience in 
    providing these types of reports. The qualified Plan and Cost Review Provider may not have any 
    ownership interest in the property, or be the design professional of record for any part of the 
    property, or have provided services for compensation for any parties related to the transaction 
    including sponsor, developer, general contractor, or other construction-related service provider 
    within the last year other than services similar to this Plan and Cost Review.
    2. The Third Party Plan and Cost Review must be commissioned, reviewed for reasonableness by a 
    qualified professional, submitted to FHLBNY, and accepted by FHLBNY prior to disbursement of 
    funds.
    3. If FHLBNY determines that the project's cost is unreasonable after using all of it the tools and 
    resources, the project will be subject to deobligation and/or recapture of the Affordable Housing 
    Program General Fund subsidy (AHP subsidy). 
    Sponsor Certification
    The Sponsor certifies that it has received the FHLBNY's Third Party Plan and Cost Review Report 
    Specifications, including the General Requirements and Third Party Plan and Cost Review Required 
    Form. The Sponsor will utilize the Requirements and Form, such that an acceptable submittal is 
    provided to the FHLBNY, in the FHLBNY's sole discretion. Further, the Sponsor agrees that the 
    FHLBNY may alter or add to these requirements at any time at the discretion of the FHLBNY.
        Sponso
        r:   Signatur                 Date
             e
             Name (Printed or Typed)  Title
                                    Third Party Plan and Cost Reviews
                                                 Required Form
       Report Provider (Name & Company):
       Provider Contact (Phone# & E-mail):
       Report Date (Attached Version):                          Previous Versions:
       GENERAL PROJECT DESCRIPTION
       AHP Project No.:                        AHP Project Name
       Project Location:
                         Street Address                                 City          State          Zip
       Residential Building Type:                                                   arate CommBldg?
       Residential Units (Proposed):          Floor Area (GSF1):          Construction Scop
       1 GSF - Total project (residential units, common areas, community space, etc.) enclosed floor area 
       (square feet) within the insulated building envelope (a.k.a., conditioned). Measured to the outside 
       edge of exterior wall structural members (i.e., outside edge of wall studs). Does not include exterior 
       covered floor area (e.g., covered porches, balconies, and exterior stairwells), parking garages, or 
       unconditioned attic / basement space.
       Describe below any special development conditions including, but not limited to, off-site expenses, 
       special construction techniques, or unique site development issues. Also, list the applicable building 
       types if the project has more than one.
       OVERALL CONCLUSION
       Based on variance         0.0%          , between the Plan and Cost Reviewer's estimate and the total hard cost
       budget of                               the project's total hard cost budget was determined to be:
                 $                                   -   
                Reasonable based on initial review.
                Reasonable after resolution of line item anomalies.
                Not Reasonable. Line item anomalies could not be resolved.
       The overall conclusion was reached by utilizing construction cost data from the following source(s):
                RS Means
                Marshall & Swift
                Independent Cost Database of Comparable Projects
                Other (please describe):
       SITE VISIT & INTERVIEWS (optional)
                The Plan and Cost Review Provider conducted an on-site inspection on this
                The Report was compiled with input from the following contributors or interviewees:
                 Individual's Name                          Company                       Role in Project
      Third Party Plan and Cost Review Form (Cont'd)                                                     0
      PROJECT DESIGN DOCUMENTS
      The project's architectural drawings and specifications (or similar other document(s) in lieu) appear 
      adequate and complete to complete the proposed construction project.
               Yes - Adequate and Complete
               No - Significant deficiencies were observed that could affect the constructability of the 
               project. Deficiencies are listed in the attached Third Party Plan and Cost Review Report.
      DOCUMENTS REVIEWED
      General Contracto
               Contractor-Owner Agreement (Construction Contract) ……               Date:
               Contractor's Schedule of Values (Cost Breakdown)                Executed?
      Architect of Recor
               Architectural Plans and Elevations     Issued fo                    Date:
               Civil Site Drawings ……………………… Issued fo                             Date:
               Architectural Project Specifications Manual
               Architect's Work Write Up (Scope Description)
      Other Construction Due Diligence Documents 
               Geotechnical Subsurface Report
               Survey and/or Property Plat
               Environmental Site Assessment (Phase I and Phase II, if required)
               Asbestos-containing Materials Survey and/or Lead-based Paint Survey
               Other (please describe):
       Third Party Plan and Cost Review Form (Cont'd)                                                     0
       CERTIFICATIONS
                The Federal Home Loan Bank of New York may rely on the attached Plan and Cost Review 
                Report.
                The Provider is experienced in providing plan and cost reviews, and is qualified to provide 
                this Plan and Cost Review Report by being at least an Architect or Professional Engineer.
                       [License (Type/State/Number):
                The Provider is qualified to provide the Plan and Cost Review by having no conflicts per the 
                following statement: 
                       [I do not have any conflict of interest or appearance of conflict of interest. Without 
                         limiting the preceding sentence, I do not have any ownership interest in the 
                         property, I am not the design professional of record for any part of the property, 
                         nor have I provided services for compensation for any parties related to the 
                         transaction including sponsor, developer, general contractor, or other construction-
                         related service provider within the last year other than services similar to this Plan 
                         and Cost Review.
        Plan and Cost
      Review Provider:
                         Signature                                                        Date
                         Name (Printed or Typed)                                          Title
       Documents to Maintain on File as Applicable (May be Requested by the Bank):
       • Contractor-Owner Agreement (Construction Contract) • Architectural Specifications Manual
       • Architectural Plans and Elevations                    • Architect's Work Write Up (Scope Description)
       • Civil Site Drawings                                   • Physical (or Capital) Needs Assessment (PNA/CNA)