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Environmental Review Delay Cost Calculator
Environmental review timelines can stretch from months to years.
Total review delay cost
$2,520,000
Land carry cost
$1,800,000
Soft cost burn
$720,000
How the math works
Extra months = actual − expected. Carry = basis × COC × (extra/12). Soft = monthly × extra.
12 extra months × ($15M × 12% + $60k × 12) = $1.8M + $720k = $2.52M review delay cost.
How to Use
- Enter land acquisition cost basis.
- Enter cost of capital %.
- Enter expected review months.
- Enter actual review months.
- Enter monthly soft cost burn.
- Read environmental review delay cost.
Frequently Asked Questions
How long do environmental reviews take?
Categorical exclusion (minor project): 1-3 months. EA (Environmental Assessment) under NEPA: 6-12 months. EIS (Environmental Impact Statement) under NEPA: 18-48 months. SEQRA (NY state): 9-30 months. CEQA (CA state): 12-36 months. Litigated reviews: 3-7 years. Timing heavily influenced by project size, community opposition, agency backlog, and litigation likelihood. Consult an environmental law firm at concept stage.
Why does review take so long?
Required: site studies (phase I / II / III environmental), habitat/species review, cultural/historic preservation review, traffic study, stormwater review, air quality, water supply/demand, sewer capacity, energy/utility capacity, noise study. Each is a separate consultant and report. Agency review rotation, public comment period (30-90 days typical), response to comments (2-6 months). Institutional developers hire environmental project managers to coordinate the dozens of moving parts.
Can you accelerate review?
(1) Tiered environmental review — use prior planning area review to cover site-specific review. (2) Cooperating agency approach — federal, state, and local review in parallel. (3) Community benefits agreement to preempt opposition. (4) Mitigation bank credits to avoid individual mitigation development. (5) Combined EIR/EIS (joint NEPA/CEQA document in CA). Smart sponsors can cut 9-18 months off base case. Amateur sponsors often add 12-24 months by doing things in wrong sequence.
What's the economic cost?
Land carry at cost of capital (10-15% of acquisition) is dominant. Soft cost burn (legal, consultants, design maintenance, property tax, management). A 12-month review delay on a $30M land purchase at 12% = $3.6M carry + $600-1,200k soft cost = $4.2-4.8M cost. Environmental review delays kill deal IRRs — many sponsors walk away during review rather than bleed through a protracted process.
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