Our team serves clients by providing expert analysis and advice to safeguard their interests during project construction and delivery. Our services can be customized to meet our client's needs based on project size, type, budget, borrower relationship and risk position.
Our Construction Oversight services are typically provided in three (3) phases:
- Condition of existing buildings
- Plans, drawings and specifications
- Regulatory documents
- Contract documents: design, construction, and loan (BLA)
- Construction and disbursement schedules
- Direct cost budget for appropriateness
- Contingency budget(s)
- Bonding or sub-guard insurance requirements
- Plan & Cost Report
- Monthly project site visits and walk-throughs
- Photographic documentation of progress
- Monthly project meetings
- Payment requisitions, invoices, and budget reconciliation
- Current Partial Lien Waivers
- Change Orders and Potential Change Orders
- Contingency funding, availability, and shortfalls
- Ongoing buyout status
- Construction and unit delivery schedules
- Construction progress
- Work-in-Place and Cost-to-Complete
- Quality of workmanship and exceptions to the work
- Disbursement amount
- Site Visit Report
- Substantial completion
- Final lien waivers
- Punch list
- Temporary and permanent Certificates of Occupancy
- Contractors' Certificates of Completion
- Architect's Certificate of Compliance
- Consents of Surety
- As-built plans
- Warranty information
- Final advance
- Closeout Report
A Property Needs Assessment (PNA) identifies a property's general physical condition and quality of improvements. CMC's experienced professionals detect and present deficiencies that could have an adverse impact on the property's cash flow, function, marketability and ultimate value.
PNA reports can include an Expected Useful Life (EUL) analysis with replacement costs. This allows clients to identify, quantify, and budget the necessary funding for future building repairs and replacements. Clients often utilize this service for proactive portfolio management. As properties age, expenditures for replacements and improvements are imperative to maintaining an asset's value. Inadequate replacement reserve may result in substantial physical deterioration of the asset, which will in turn adversely affect its collateral value and significantly increase an investor's risk over term.
PNA Report Types
CMC offers four distinct PNA report formats. Each is tailored to meet a specific requirement or standard. Each may be supplemented with custom useful life analysis and capital cost tables:
- Which projects are most behind schedule?
- Which projects are over-budget and need contingency adjustment?
- What projects have upcoming inspections and when are they due?
- Which reports need review?
- How are projects progressing toward completion? When will monies be available for new projects and how much?
- How are my projects clustering from the perspective of geographical footprint?
More generally, Lenders have trouble knowing:
- Is my loan portfolio healthy or at-risk?
- What projects should I pay attention to most?
CMC provides lenders, free of charge, an advanced portfolio dashboard.
Lenders can sign in and view all their projects handled by vendors who use StructDB™.
In-depth information about lender dashboards can be found at their site.
CMC offers complete assessment and tracking of Historic Preservation tax credit items for both the National Parks Service (NPS) and New York's State Historic Preservation Office (SHPO).
We offer reports that cover both the application process and compliance during construction:
- Monthly project visits to monitor conformance
- Conformance of construction with Work Items in the application
- NPS Application Report
- Single visit to determine NPS submission conformance
- Submissions
- Conditions
- Commitments
- Plan conformance of proposed Work Items
- NPS Construction Conformance Report
Every assignment is tailored to each client's particular needs or requirements. CMC approaches each assignment with a commitment to identifying and implementing an efficient and effective solution.