An accurate, up-to-date "Building Renewal Plan" or better known as "Replacement Reserve Plan" is an essential tool for managing your Co-op's finances. A good plan will help ensure your Replacement Reserve is adequate to meet your future needs, and will help you monitor and control your capital spending.
We at Cana can present a summary report to your members along with a short workshop on Replacement Reserve issues. Our presentation will help your members understand and appreciate the value of your Replacement Reserve Plan.
- Co-ordinate preparation of complete Replacement Reserve Plan.
- Hold an initial meeting to review our service, the step we'll follow to prepare your Plan and a timeline for completion of Plan.
- With co-op approval, hire, instruct, and co-ordinate the consultant needed to provide the technical Building Condition Survey needed as part of the Replacement Reserve planning process.
- Review the data and recommendations provided by these consultants and obtain any needed clarification or follow-up.
- Prepare and present a draft report for input on additions on revisions of plan then prepare a final revised report to be presented to the co-op.
- Submit the final approved plan to the co-op's funding agency for approval.
