![Page 1: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/1.jpg)
Reserve Fun, Funds, Funding and
Funding in a Crisis
H. Alan Mooney, P.E., RS
Jack Carr, P.E.
Criterium Engineers
![Page 2: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/2.jpg)
Reserve
funAn oxymoron?
![Page 3: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/3.jpg)
Reserve
funds
Discretionary?
Mandatory?
![Page 4: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/4.jpg)
Reserve
funding
Political?
Procedural?
Absolute?
Flexible?
![Page 5: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/5.jpg)
Reserve funding in a crisis
Should there be special procedures?
![Page 6: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/6.jpg)
Reserve
funding
involves people...
![Page 7: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/7.jpg)
What are the challenges?
• How can you effectively educate owners about the importance of reserve funds?
• How can you effectively inform owners about the regulatory obligations related to reserve funds?
![Page 8: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/8.jpg)
What are the challenges?
• How can you present reserve fund study results that are accepted by the owners?
• How can you determine what flexibility is possible in a reserve fund study?
![Page 9: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/9.jpg)
What are the challenges?
• What do you do if an owner defaults on their payments?
• What impact do the new FannieMae/Freddie Mac requirements for reserve funds have on your association?
![Page 10: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/10.jpg)
What are the challenges?
• What impact does a marginally funded reserve fund have on lenders (and, therefore, buyers)?
• If you can’t do everything recommended in your reserve fund study, what should get the highest priority?
![Page 11: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/11.jpg)
What are the challenges?
• How can you diffuse the “everybody’s a construction expert” debates that seem to develop around reserve fund studies?
![Page 12: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/12.jpg)
Reserve
funding
involves people...solving
problems
![Page 13: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/13.jpg)
Resources
• Carol Vaszuez, Property ManagerSBB Management, Dallas, TX
• Meka Bowling, Association ManagerPremier Communities, Keller, TX
• Peggy Murillos, Property ManagerExcel Association Management, Dallas, TX
![Page 14: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/14.jpg)
Resources
• Al Pellegrino, Property ManagerP & A Management, Hamilton, NJ
• David Hill, Property ManagerAccess Property Management Group, Atlanta, GA
• Susan Juliano, Property ManagerHeritage Property Management, Atlanta, GA
![Page 15: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/15.jpg)
Resources
• Renee Hane, Association ManagerREM Commercial, Canton, OH
• Jim Chen, Property ManagerCondo Management of Columbus, Columbus, OH
• Gary Caruso, P.E., EngineerCriterium – Caruso Engineers, Atlanta, GA
![Page 16: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/16.jpg)
Resources
• David Dotson, P.E., EngineerCriterium – Dotson Engineers, Dallas, TX
• Tom Armstrong, Association Community ManagerPrincipal Management Group, Ft. Worth, TX
• Jim Yost, OwnerElite Management Advisory Services, Wildwood, NJ
![Page 17: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/17.jpg)
Resources
• Art Wickerham, P.E., EngineerCriterium – Liszkay Engineers, Columbus, OH
• Dave Pioli, P.E., EngineerCriterium – Pioli Engineers, Seattle, WA
• Peter Garrett, OwnerMaine Properties, Scarborough, ME
![Page 18: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/18.jpg)
Resources
• Donald Day, Property ManagerThe Dartmouth Group, Bedford, MA
• Suzan Adelman, Property ManagerBarker Management Company, Boston, MA
• Yohanna LaRoche, Property ManagerDirigo Management Company, Portland, ME
![Page 19: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/19.jpg)
Resources
• Timothy Paoli, AMS, Property ManagerGreater Boston Properties, Boston, MA
• John Turner, P.E., EngineerCriterium – Turner Engineers, Bedford, NH
• David Abel, Property ManagerFirst Realty Management Corp., Boston, MA
![Page 20: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/20.jpg)
Resources
• Ryan Saucier, Property ManagerForeside Management, Falmouth, ME
• William Turner, P.E., EngineerCriterium – S.T.A. Engineers, Cincinnati, OH
• Phillip Renzi, Property ManagerThayer & Associates, Cambridge, MA
![Page 21: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/21.jpg)
Resources
• John Ciolfi, Property ManagerMillennium Place Partners, New York, NY
• David Dotson, P.E., EngineerCriterium – Dotson Engineers, Dallas, TX
• Kate Moran Carter, Esq., LawyerRobinson & Cole, Boston, MA
![Page 22: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/22.jpg)
Resources
• Jodi Bennivedse, Property ManagerDarnburgh Real Estate, Fall River, MA
• Barbara Tandler, Property ManagerSimon Group, Braintree, MA
• Mike McKinnon, OwnerMcKinnon Property Management, Kennebunk, ME
![Page 23: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/23.jpg)
Reserve
funding
involves people...solving
problemsin real time
![Page 24: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/24.jpg)
Bonfire of the Priorities
– Inadequate insulation– Poor deck construction– Siding installation problems– Pavement maintenance– Improper ventilation
![Page 25: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/25.jpg)
Bonfire of the Priorities
– Water infiltration– Roof ice dams– Site drainage– Lack of flashing– Foundation problems
![Page 26: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/26.jpg)
Bonfire of the Priorities
– Inadequate insulation– Poor deck construction– Siding installation problems– Pavement maintenance– Improper ventilation– Water infiltration– Roof ice dams– Site drainage– Lack of flashing– Foundation problems
![Page 27: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/27.jpg)
Case Studies
• Case of the Ninja Plumber
![Page 28: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/28.jpg)
Case Studies
• Eliminate your
![Page 29: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/29.jpg)
Case Studies
• Yes, We Got No Green Bananas
![Page 30: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/30.jpg)
Case Studies
• Don’t Hang Out Your Dirty Laundry
![Page 31: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/31.jpg)
Reserve
funding
involves people...solving
problemsin real time
![Page 32: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/32.jpg)
Lessons Learned
• Importance of communication and relationships• Need for a reserve fund study• Consistent reinforcement of regulations• Effective board meetings• Educating owners and board members• Establish priorities and plans
![Page 33: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/33.jpg)
…And Challenges Met
• Additional material to be handed out at presentation
![Page 34: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/34.jpg)
Questions?
![Page 35: Reserve Fun, Funds, Funding and Funding in a Crisis H. Alan Mooney, P.E., RS Jack Carr, P.E. Criterium Engineers](https://reader035.vdocuments.mx/reader035/viewer/2022062717/56649e255503460f94b14103/html5/thumbnails/35.jpg)
Thank you!!