Reserve Study
Reserves Advisors was selected by the MHOA and RHOA to conduct a full reserve study of our building (both the tower at 7 Patton Avenue and the garage at 11 Patton Avenue).
On-site visual, noninvasive inspection, was conducted on July 10, 2024.
Reserve Advisors states: This Full Reserve Study exceeds the Association of Professional Reserve Analysts (APRA) standards fulfilling the requirements of a “Level I Full Reserve Study.” An ongoing review by the Board and an Update of this Reserve Study are necessary to ensure an equitable funding plan since a Reserve Study is a snapshot in time. We recommend the Board budget for an Update to this Reserve Study in 2-3 years.
Respectfully submitted on October 3, 2024 by
Reserve Advisors Engineering, PLLC (P-1327)
Visual Inspection and Report by: Jared W. Kelley
Alan M. Ebert, P.E. (NC-043524) PRA2, RS1, Director of Quality Assurance
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