A clear and concise capital improvement plan is imperative to monetary appropriation and/or assessment as the case may be. Unless the data provided is clear it is relatively difficult to establish a sequential capital improvement plan.
A capital improvement plan should be so configured as to include “Emergency” items, “Urgent” items, “Routine” or maintenance related items, and lastly “Deferred” items. All items should be backed up by quotations related to the scope of the work when applicable, and monetary denominations needed in order to complete the scope of the work.
Emergency Items:
Emergency items are any item affecting life and safety. These are items that should be enacted or addressed immediately.
Urgent Items:
Urgent items are those items that would affect the well being of the tenants and/or the comfort and convenience of the tenants. This would be items involving any of the primary operating systems for the building or the overall building structural integrity.
Routine Items:
Routine items would involve items having a service life and being under a maintenance schedule.
Deferred Items:
Deferred items are items like the parking lots, perimeter illumination, improvements to the present buildings and/or grounds.
By keeping these classifications of items in mind while conducting conditional assessments and inspections all items involving the building and grounds can be put into a particular slot to be addressed accordingly, or broken down into smaller groups to be addressed at different time intervals.
