With a recent focus on large projects like elevated walkways or balconies, one also things about other long life projects like roof systems, window systems, and elevator systems that potentially have very extended l(over 30 years) life expectancies. Civil Code 5510(b) says that expenses less than 30 years away must be included, but what about those big ones 32 years away? 37 years away? 42 years away? Some of these projects are reasonably well expected, both in timing and size.
Explore what inclusion or exclusion means to the size of your association's Reserve contributions, and how Reserve professionals following CAI's National Reserve Study Standards can help your association prepare for these large expenses, so they don't fall (heavily) on the shoulders of those owners in the last years preceding the expense.
Topics Covered:
- Build the case that there are real, predictable Reserve projects (meeting the National Reserve Study Standard four-part test) with a Remaining Useful Life in excess of 30 years.
- Demonstrate, with a few examples, of the difference in Reserve contribution size between including them while outside the 30-yr range, and waiting until they fall within 30 years.
- Show how National Reserve Study Standards guide boards and Reserve Study professionals to successfully fund for predictable Reserve projects outside an arbitrarily selected planning window of 30 years.
Speakers:
Robert Nordlund, PE, RS, Association Reserves
Jeff Beaumont, Esq., CCAL, Beaumont Tashjian
Clover Ericson, CMCA of C&C Management & Consulting
