Definitions and Acronyms
Definitions - Commonly Used Terms and Acronyms
There are currently 17 names in this directory beginning with the letter D.
Debt Coverage Ratio (DCR)
The ratio equal to net operating income divided by regularly scheduled (amortized) loan payments.
Deed Restrictions
Legal document recorded against the completed property or project. (See also 'long-term affordability period').
Designated Distressed Areas
A residential area of the city that the Planning Commission designates for special assistance programs (e.g. limited property tax exemption) by virtue of the deterioration or the housing stock.
Developer
Is the central member of the development team who is responsible for coordinating all aspects of the transaction. The developer may assume other roles such as general contractor, property manager, and general partner of the partnership that owns the property. Both for-profit and not-for-profit organizations are developers of affordable housing; sometimes they form joint ventures.
Developer Fees
Developer fees include developer overhead, profit, and fees for services normally performed by the developer such as development consultant fees, and project management.
Development Budget
A development budget includes preliminary construction line item costs, site acquisition costs, off-site costs (if applicable), soft costs, and other detailed cost information pertinent to the project.
Development Consultant
An individual or group of individuals hired by developer(s) who generally is responsible for budget preparation, application preparation, compliance with funding requirements, and other technical details of the project. Development consultant fees are considered a part of developer fees.
Development Team
Group of individuals or firms who carry out a development project, usually including the developer, the architect and engineer, the contractor, legal counsel, accountant and the development (technical) consultant.
