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INVESTMENT PROCEDURES
BTDC PROCEDURES 1. LETTER OF INTENT The investor submits a Letter of Intent with a deposit of US $ 10,000.00/ha by means of certified or Bank Draft. The deposit ensures that the lot selected is reserved for investor for a period of three months on a first-in first-served basis. The deposit will be refunded if BTDC does not approved the application. The deposit will not be refunded of the investor, after, having approved by BTDC, fails to sign the LUDA at the end of the period. Upon the receipt of the Letter of Intent, with the US $ 10,000.00/ha deposit, and the required annexes, BTDC will forward to the investor all necessary information, among others : · LUDA; · Declaration of Covenants, Conditions and Restrictions; · Plus the detailed Design Criteria. During this period the Investor : · Examines the legal Documents; · Collects further information, if necessary; · Start the Feasibility Studies and Schematics. Before the end of this period the Investor : · Either enters into LUDA, and pay 3 years minimum compensation in advance · Or notifies BTDC in writing of his decision not to proceed further. 2. LAND UTILIZATION LAND DEVELOPMENT AGREEMENT (LUDA) The Investor will enter into the LUDA, the execution of which shall be the starting date of the initial term of 30 years, an extension 2 x 10 year options available. Upon the formal execution of the LUDA, the investor will commence with : STAGE 1. Feasibility Studies and Schematics During this period, the investor submit to BTDC the following: a. Schematic Plans showing in adequate detail the size and scope of the proposed project: * Artist conception or rendering of the project, * Site Plan, indicating all access roads and other on-site architectural improvements * Exterior elevations and sections through the structures, to show architectural concept, elevations, roof lines, and any proposed change in grades or view lines * Preliminary outline specifications, indicating the proposed use of materials and mechanical equipment. b. Feasibility and pro-forma study of the hotel for a minimum of the initial five (5) year operating period, starting with a projected time of opening c. Total estimated replacement cost of the project, including F.F.& E, Professional Fees, Interim interest, Pre-opening Expenses and Working Capital. d. Financing Plan indicating the Loan/Equity ratio, sources of financing and interest rates. Within 45 days of the receipt of the submittals, and upon the recommendation of the Design Committee, BTDC will notify the investor in writing of his approval or of any necessary modifications. Revisions shall be submitted to BTDC within one month of the notification and can be submitted a maximum of two times. STAGE 2. Preliminary Plans and Specifications After securing approval of the items submitted under stage 1”Feasibility Studies and Schematic”, Investor shall submit to the BTDC, and secure its approval, complete preliminary or development drawings, accompanied by a letter of transmittal indicating any variances from the previously approved Schematics or any changes in the proposed feasibility studies. The documents required under stage 2 shall consist of : a. Technical Site Plan at a scale of 1 : 500, including, but not necessarily limited to, the following: 1). All proposed structures, and if project is to be built in increments, the initial construction contemplated and the future construction defined. 2). Setback lines, easements, view channels and proposed change in the existing topography. 3) Location on size of parking areas, entrance and drives, and/or, any on-grade screening walls or service structures 4). On-site roads, paths or other pedestrian circulation and its points of connection to the proposed Nusa Dua “common area” roads or walkways. 5). Single line schematics, indicating size and required capacities for: water, sewerage, irrigation, electrical and communications. b. Architectural Site Plan, at a scale of 1:500, reflecting in general the same items as A above, as well as the following: 1). Floor elevations (From mean sea level datum ”O”) for all floors within any specific building or structure as well as the highest point or the normal roof or ridge. 2). Major recreational facilities, such as swimming pools, tennis courts, cabanas, or other. 3). Preliminary landscaping plan, showing in addition to the type and size of trees or planting, any features such as reflecting ponds or other water amenities, mock temple gates, gazebos and drainage controls. 4). Fact sheet indicating the: a). number of guest rooms and suites b). size, m2, scope, and usage of both “public” and “back of house”, area, including storage, banquet rooms c). lot coverage, including and excluding covered walkways or isolated structures d). rental shops and concessions, both as to size and proposed use e). floor area ratio to total lot area c. Architectural Drawings: 1). Plans of buildings, at a scale of 1:100, showing each floor “keyed” to datum of ”O” as per site plan. 2). Exterior elevations of main buildings or main exposure, at a scale of 1:100 and indicating finish material and color code. 3). Cross sectional drawing, of major buildings or groupings, to indicate relationship to the natural of finish grade and view lines with other structures. 4). Roof Plan of Project, (this maybe incorporated onto the Architectural Site Plan as long as roof over-hangs are clearly defined from building wall lines, below). 5). Interior Elevations of Lobby and Reception Area. d. Semi-Developed Specifications, all division of work. e. Color Code: Color swatches, mounted on a board indicating all exterior colors and finishes, coded to match the symbols on the drawings. f. Construction Schedule: Submit an estimated (preliminary) construction schedule indicating the following: 1). Planned start and completion of project 2). Utility usage, in engineering terms of measure, of: water, sewer, electrical and communication. 3). Estimated cost of project, including FF & E. Within 45 days, following receipt of the above items listed under “Preliminary Plans and Specifications”, and upon the recommendation of the Design Committee, the BTDC shall approve or disapprove the submittal, in writing. In the event of any disapproval, based upon non compliance with the previously approved “submittals”, those specific items shall be set forth within the letter. Approval will not be unnecessarily withheld, if the drawing reflect a proper adherence and development to the “Schematics” (Stage I) previously approved. In those cases where this submittal is not approved, the developer will be required to submit revised drawings or documents for final approval. Revision shall be submitted a maximum of two times. Failure on the part of BTDC to approve or disapprove within 45 days shall deemed approval. STAGE III. LAST FINAL STAGE Within one hundred and fifty (150) calendar days following the approval of the Preliminary Plans, Specifications and Schedules, the Investor will commence the architectural work necessary to complete stage Stage 3 the final Working Drawings, Specification and other “Construction Documents” for submittal to BTDC, and the Provincial Agency for obtaining the building permit. A. The construction documents Stage 3 shall be submitted under a letter of transmittal from the Developer’s Architect stating that the drawings are a true development of the Preliminaries Stage 2 previously approved and shall include: 1). Final working and Construction Drawings and Specifications covering: a). architectural, structural, electrical, and mechanical b). construction plans for all on-site sewer, water irrigation, drainage, electrical, and roads or walks. 2). Final exterior materials, finishes and colors 3). Detailed Landscaping Plan and Plant List 4). Final Construction cost separated into the major categories or divisions, including landscaping. The BTDC Design Committee shall review the submittal and shall either approve or disapprove the same in writing within 45 days of receipt. Any disapproval will set forth the reason in writing and be subject to another submittal on the part of the developer. Failure to so approve of disapprove within 45 days shall be deemed approval. Revisions shall be submitted to BTDC within one month of the notification and can be submitted a maximum of two times. The BTDC shall not disapprove any final plans and specifications on account of any matter shown or apparent on the previously approved Preliminary Drawings, Stage 2 if they conform to and are a development of the prior submittal and the LUDA and the Declaration. Upon this final approval, acknowledge in writing by the BTDC, the plans may then be submitted to the Bali Provincial Agency for issuance of the building permit, in accordance with their procedure. BTDC’s Design Committee Fees: Stage 1. Feasibility Studies and Schematics US$ 600 Stage 2. Preliminary Plans and Specifications US$ 1.000 Stage 3. Final Drawings and Construction Documents US$ 400 - Re-submittals: 50% of the above - The fees are subject to chance without notice. Building Permit Fees Building permit fees can be calculated at approximately 1 ½ % of the total cost of the project for the Local Government’s Permit; 1 % of the construction cost for the Building Permit. |
Nusa Dua Investment
| Nusa Dua Investment |