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AVOIDING THE PITFALLS OF MAJOR CAPITAL IMPROVEMENT AND REPAIR PROJECTS: How To Organize and Manage A Construction or Renovation Project Ocean Property Management Corporation joined Lowenstein Sandler, PC and Feld, Kaminetzky & Cohen, PC on Saturday, June 18, 2005 to present a seminar for community association board members, managers and owners at the Greater Wildwoods Convention Center. A simultaneous broadcast was provided by leading local station WILW, 94.3 FM to deliver the panel discussion to a wide audience throughout Cape May County.
The panel included Jim Yost, general manager of Seapointe and vice president of Ocean Property Management, attorneys Karim G. Kaspar, Esq. And John E. Clark, Esq. who specialize in a wide range of community association and construction law, and engineer Pericles C. Stivaros, Ph.D., P.E. This experienced team of condominium professionals developed the seminar agenda while working together on a major repair and restoration project at Seapointe Village, a 510 unit community that many consider the finest beachfront condominium development on the east coast. The panel addressed many of the issues facing association boards and property managers while planning, financing and executing a construction or renovation project. There has been an explosion of second home condominium development in southern New Jersey and each of these developments has a homeowner association and a board of directors that may be addressing these issues for the first time. Properly implemented capital improvements and repair projects depend on preparations made years in advance when reserve studies are completed and reserve funds are established so the seminar provided important information for a broad audience. Associations initiate projects to correct defects in the original construction and repair and restoration projects arise as buildings age. Condominium owners also contract for capital improvements arise when owners decide to upgrade or modernize association property, protect property values and enhance the property's common areas. The panel discussed the different types of projects and the challenges of each. Discussion included contract issues, preparation of specifications, the bidding process, construction management and approvals, dispute resolution and other important issues were reviewed. Options for paying for the project including the use of reserve funds and special owner assessments, and the possibility of financing the work were also discussed in some detail. Listeners asked about the role of engineers, legal counsel and property managers, the process for selecting and engaging design professionals and contractors, the property manager's responsibilities for scheduling, coordinating access and minimizing disruptions, and the process for resolving disputes between the Association and contractors, and steps to manage schedules and control costs. There was no charge to attend the presentation. The panel of experienced professionals plans additional seminars to discuss a wide range of topics including insurance, condominium management and organization, state laws affecting association operation and other topics of interest to all condominium owners and associations. Community associations of all sizes--from five units to five hundred--face the same issues so the seminars provide important information for the community. Ocean Property was asked to participate in these seminars because of the firm's experience managing condominium buildings and associations, condotels, and hotels in southern New Jersey. Watch your local newspaper and this Website dates and times of follow up seminars on every aspect of condominium management. We are sure you will find them helpful. You can obtain information or request subjects for future seminars from Lowenstein Sandler, PC by telephone (973.422.2956) or e-mail (events@lowenstein.com). |
