With almost 20 years experience, EDP continues to be the leader in providing specialized services to Community Associations. To date we have provided engineering services to thousands of Community Associations nationwide. We are experts in:
Reserve Studies
Transition Studies
Site and Building Inspection Services
Consulting/Mediation Services and Litigation Support
Design Services
Specification, Bidding and Contract Administration Services
Our commitment to the Community Associations Industry is proven by our active involvement in the Community Associations Institute (CAI) at both the state and national level.
When you receive a Reserve Study from EDP, you can be sure it has been prepared in conformance with the National Reserve Study Standards of the Community Associations Institute and includes both a Physical and a Financial Analysis as dictated by these Standards.
This confidence comes from the fact that Mitchell H. Frumkin, P.E., R.S., Kipcon, Inc., served as Chairman of CAI's National Reserve Professionals Committee at the time the Standards were developed, and is also the Editor and Contributing Author of CAI's, Guide for Association Practitioners (GAP Report) publication, A Complete Guide to Reserve Funding and Reserve Investment Strategies. He also contributed to the American Institute of Certified Public Accountants (AICPA), Audit and Accounting Guide for Common Interest Realty Associations and Audit Risk Alerts as they relate to the preparation of Reserve Studies. Most recently, he serves as the Chair of the joint task force of the Community Associations's Institute (CAI) and the National Association of Home Builders (NAHB) in the development of a best practices paper on "Transition".
The Reserve Study
According to the Community Associations's Institute's (CAI) GAP Report, A Complete Guide to Reserve Funding and Reserve Investment Strategies, "One of the primary business duties of Community Associations - planned communities, condominium and homeowner associations, and cooperatives - is to maintain and preserve property values of residential units and the common property.The funds that are set aside for this purpose are commonly called Reserve Funds, Replacement Funds, or simply Reserves."
A EDP Reserve Study is the Standard! Our Reserve Studies are performed by Reserve Specialists (R.S.) and licensed engineers. The R.S. designation is awarded by CAI to experienced, qualified Reserve Specialists, who have undergone training, as well as having a wealth of experience, in the diverse aspects of component analysis and financial planning for Community Associations. R.S. designees are required to perform Reserve Studies based on a strict set of standards developed by CAI. At EDP, we have four (4) staff members with the R.S. designation.
Following the CAI standard, EDP offers three levels of service:
A Full Reserve Study includes a site visit, component inventory, condition assessment, life and valuation estimates, fund status and funding plan.
A Reserve Update, With Site Visit includes a condition assessment of the existing inventory, life and valuation estimates, fund status and funding plan. The difference between a Full Reserve Study and a Reserve Update, With Site Visit is that in a Reserve Update, With Site Visit, we only update the existing reserve schedule, assuming that the quantities listed in the existing reserve schedule are correct. In a Reserve Study, calculate the quantities.
A Reserve Update, With No Site Visit is a paper review of the existing reserve schedule and includes life and valuation adjustments to the existing inventory, fund status and funding plan. A Reserve Update, With No Site Visit is often utilized if an Association has had major replacement work completed and it has been less than two years since the last reserve schedule was completed.
In all cases, the EDP Reserve Study includes a 30 year cash flow projection showing not only the Full/Proportional Funding Analysis, but also the Baseline Funding analysis. When viewed together, the Association can see the full range of funding possibilities tailored specifically to their community from the most conservative (Full/Proportional Funding) to the least conservative with the most risk (Baseline Funding). This analysis also provides guidance in the establishment of the Associations investment strategies by outlining how much money is needed and when.
In addition, a complete listing of anticipated replacements, by year and by component, is included for help in future planning.
Transition Studies
We believe that the Transition process is the most crucial period in the life of a Community Associations. This is the time when the governing body of the community must determine not only the physical and financial strengths of the development, but also set the procedures in place for future maintenance and financial stability.
At EDP, we consider the Transition period to be a time when we help the community to assess this physical strength by making certain that all common elements are constructed in general conformance with the design documents and that no defects exist. At the same time, we make recommendations in regards to the financial strength of the community by preparing a comprehensive Reserve Study.
Transition Studies include a Site and Building analysis of all common elements. In the Site analysis, visual observations are performed to determine if the visually observable common elements (for example, grading, drainage, paving, landscaping, lighting and exterior recreational areas) are in general conformance with the design drawings and note what defects or omissions, if any, exist. In the Building analysis, our field observations include a review of the exterior common and limited common elements of all community buildings that the Association is responsible for. Our field observations will include a review of the interiors of the units at the site, if applicable, to review the installation of the visually observable interior elements.
Site - Sample Common Elements Building - Sample Common elements
Grading and Surface Drainage Foundations (Exposed Exterior)
Pavement - Roadways, Driveways Roofs
Pavement - Parking Areas Gutters, Downspouts
Pool Building Exteriors (Siding)
Exterior Lighting Balconies, Decks, Patios
Landscaping Recreational Facilities
Retaining Walls (Includes Interior of Clubhouse)
Concrete Walkways and Slabs Attic Spaces/Basements
Our expertise has lead Mitchell H. Frumkin, P.E., R.S., President of EDP Incorporated to Chair a joint nation wide task force with the National Association of Home Builders and the Community Associations's Institute that has developed a "Best Practices Paper on Transition".
Site and Building Inspections
EDP has a diverse wealth of experience inspecting and evaluating site and building conditions of new and existing residential, industrial and commercial buildings.
Our services include the following for all building types and configurations from single story to high-rise configurations. These inspections range from visual observations to extensive invasive testing and analysis.
Site Inspections
Pavement
Drainage
Retaining Walls
Detention/Retention Basins
Our inspection services include visual observations of problem areas, coordination of invasive testing, moisture probing and pavement core sampling. We also provide specifications, bidding and contract administration services, and the preparation of detailed reports including photo documentation of the existing conditions as well as recommendations for any required corrective action.
Consulting/Mediation Services and Litigation Support
Although we feel that they should only be used as a last resort, we also provide mediation and litigation services, if necessary, to resolve conflicts. At EDP we are experts in providing these services and helping to achieve an outcome that both parties can be happy with relating to:
The Transition Process
Reserve Studies
Construction Defects and Claims
Following are the types of expert services EDP offers:
