Thinking Smarter About Aging Infrastructure
Addressing the Aging Infrastructure Problem
By Pam Winslow, CMCA, AMS, PCAM A
fter the tragedy in Surfside, Florida, community association boards and their management partners are actively looking
for solutions to the problem of aging infrastructure and deferred maintenance. It’s a delicate balancing act between what homeowners will bear in costs and the needs of the property.
You’ve heard the standard advice, “Get a reserve study,” and while that is a good start, it is not enough.
“Get a reserve study.” While that is a good start, it is not enough.
One Piece of the Puzzle
At their core, reserve studies are a budget planning tool. However, a reputable reserve study, according to CAI standards, provides far more insight, identifying potential safety issues, critical conditions, historical project background, disclosure of forthcoming projects,
best practices, and where required by law – a structured disclosure to the ownership body.
Most reserve study reports can be classified as a static document. Since they are a snapshot based on the day they were created, they can often become outdated should an unexpected capital repair or replacement become necessary due to unforeseen circumstances. Fortunately, it doesn’t have to be that way.
Strategic Planning is the Solution
To solve aging infrastructure problems, you need more than just a reserve contribution number. You need a strategic plan that comes from a living document based on a current reserve study.
Creating a strategic plan means taking all the elements from your reserve study, mapping out replacement needs, maintenance schedules, a financial plan to pay for it, and a project management strategy that will allow you to implement that plan on time and within budget.
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