You are a board president and you just found out that your association needs $200,000 to replace the clubhouse HVAC system. Your operating budget has no contingency funds and your reserve fund (which only gets occasional contributions) only has a balance of $50,000. What do you do now? No one wants to be in such….
With the dust of the election campaigns starting to settle, how often did we ask ourselves why would anyone put themselves through all that? Why risk personal reputation and consumption of precious time for such unguaranteed rewards? Or to the point of this article, why should you join the condo board? The answer(s) will be….
Greg Hogan, a licensed, Professional Engineer, recently joined Criterium Engineers’ corporate headquarters team in Freeport, Maine. Hogan leads the company’s national operations division as Director of Operations. Hogan is a licensed, professional civil engineer and project manager with over 30 years’ experience in site development, building design/construction, and facility management. Most recently he was employed….
Enhanced Reserve Studies Offer More Detail What is your condo’s future? Many condo boards may believe the standard reserve fund study will provide the information necessary for a solid financial future for their community. This traditional tool has served well for many associations, but more and more associations are now using a more sophisticated plan,….
[This article on Cost Segregation is excerpted from NAI The Dunham Group publication 10th Annual Greater Portland 2021 Industrial Market Survey, found on page 9.] For any building buyer or owner, cash flow is a critical measure of the financial viability and success of a property. A building’s cash flow can help pay down debt,….
Criterium-Cona Engineers is our Office of the Month for last month. John Cona, P.E. opened his affiliate office in the Denver area in June 2017. He has steadily and consistently built his business and is currently our #15 office in receipts. John set goals of continued expansion of his business—including the addition of a new….
Criterium Engineers is pleased to announce that Ethan Field, a licensed, Professional Engineer, recently joined the team as senior project engineer. Field has over seventeen years of building envelope consulting experience, working from the Boston area offices of two national firms. He most recently worked as a Senior Associate at Wiss, Janney, Elstner Associates, and….
It’s with great pleasure that we announce Criterium-Sollie Engineers is our Office of the Month. Glenn Sollie, P.E. has become a “Go-To” Engineer for some of our national clients like Greenleaf Management for property condition assessments and environmental site assessments. With every project we work on with Glenn, he unfailingly provides great service, work products….
When building owners and property managers plan the financial future of their facilities, the quantitative tool most often chosen is the Capital Needs Assessment (CNA). A CNA creates a capital forecast of needed reserves to fund depreciating asset replacement and prioritize discovered deficiencies while providing a comprehensive document to justify lending requests. CNAs are often….