Chart a path forward with an Asset Management Plan
Published May 25
With political tides turning and housing policy changes in the air, co-ops face a mix of excitement and uncertainty.
Asset Management Planning puts co-ops on firm footing with a suite of tools that allows them to take a clear look at where they stand, where they are going, and how to get there. It also situates co-ops to take advantage of new and upcoming funding opportunities.
David Spackman, CHF Canada’s Manager, Co-operative and Asset Management Services, has been delighted by the overwhelming response to the program, with co-ops from Yellowknife to St. John’s taking the opportunity to plan for their future with CHF Canada’s help.
About 20 co-ops have completed Asset Management Plans, and 18 are currently in progress. Twelve other co-ops are working with CHF Canada to procure technical reports such as Building Condition Assessments. Another 23 construction projects are underway for which CHF Canada is providing project management in partnership with Housing Services Corporation.
While Asset Management Planning is a key part of the refinancing process, it’s also a critical tool in its own right. Asset Management Plans are tailored to each to co-op’s needs, and help the co-op to:
- Assess the condition of buildings and property
- Make plans for capital spending to keep buildings in great shape
- Plan for routine maintenance
- Project what’s needed to spend money on, and when
- Create schedules for borrowing, saving and housing charge increases.
Roberta Miller is the General Manager of Sarcee Meadows Co-op (pictured) in Calgary, Alberta, which recently tendered for a Building Condition Assessment for its 380 townhouse units through CHF Canada. “I thought it was a great experience,” Miller commented, “David was very helpful in navigating us through the RFP process, as well as being very knowledgeable about buildings and what to look for. I learned a lot in the experience, and I think the information we gain from this will be extremely helpful in planning for the future of our co-op.”
Whether or not your co-op is looking at refinancing, an Asset Management Plan charts a course for co-ops to be able to offer affordable, high-quality homes well into the future. As David puts it, “There’s a blossoming of community spirit that occurs when buildings are well-maintained.”