Unlocking Opportunities: Reserve Studies and Engineering for Community Associations

Experience Level: Any level of experience

In this course, participants will delve into the intricate realm of Reserve Studies, learning  both their composition and the engineering concepts underpinning them. We will discuss community associations, explaining their role and connection to Reserve Studies. Beyond this technical understanding, attendees will discover an untapped market ripe for exploration. Many engineering firms remain unaware of this expansive potential; hence, this class aims to highlight how venturing into Reserve Studies can bolster a firm's service portfolio and leverage existing services. The session culminates with an insightful look into capitalizing on this largely untapped market, paving the way for forward-thinking engineering firms to seize untapped opportunities. 

Learning Outcomes:

1. Define and Describe Reserve Studies.

2. Understand the fundamental components of a Reserve Study and the engineering concepts that are pivotal for its preparation.

3. Comprehend Community Associations.

4. Grasp the roles, functions, and relevance of community associations in the context of Reserve Studies.

1 PDH (NY Approved)

Pricing:

NSPE Members: FREE

Non-members: $75.00 (Join NSPE today and save on this purchase.)

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Mitchell H. Frumkin, P.E., R.S.

Consultant

Community Association Asset Solutions

Mitchell H. Frumkin is founder and past owner of Kipcon Inc., a full-service engineering firm which provides engineering consulting services specializing in community associations. Mr. Frumkin is a frequent speaker and writer on state and national levels for the Community Associations Institute (CAI). He is past national president of CAI as well as the Foundation for Community Association Research. On  a local level he has served as president of both the New Jersey and the Keystone ( Pennsylvania) chapters of CAI.

As past chair of CAI’s National Reserve Professionals Committee, Mr. Frumkin is editor and contributing author of the Guide for Association Practitioners (GAP) report, Reserve Funds: How and Why Community Associations Invest Assets. During his time as chair, this committee developed the National Reserve Study Standards of the Community Associations Institute and the “Reserve Specialist” designation. In 1998, he was awarded the National President’s Award for these efforts. In 2019, he co-chaired a national task force to update these standards and the Best Practices paper on Reserves. He was awarded the 2019 Award of Excellence in Designations by CAI for his efforts. He currently is cochairing a CAI task force which has updated  the national standards for the inclusion of both maintenance as well as structural safety criteria. He also served as a member of the national task force which prepared the  Best Practices Report  on Maintenance.
In June of 2021 as the result of the tragic collapse of Champlain Towers South in Surfside, Florida, CAI created three task forces to develop public policies to help avoid this type of tragedy from happening again. The results of these task forces were published in October 2021 in the Condominium Safety Public Policy Report: Reserve Studies and Funding, Maintenance, and Structural Integrity. Mr. Frumkin cochaired the Building Maintenance and Structural Integrity Task Force and had a leadership role in the Reserve Study and Funding Plans Task Force. He was the only engineer who had a leadership role in these programs. He served  as the Chair of a Task Force which recently updated these public policies.  He also served as  cochair of a New Castle Delaware task force which drafted building safety legislation which was approved and is now in effect. Mitch, as part of the NJ CAI Legislative Action Committee (NJLAC)  also had a leadership role in the development of the recently approved Structural Integrity and Reserve Study legislation in New Jersey ( S2760/A4384).

He served as chair of a joint task force between CAI and the National Association of Home Builders (NAHB) dealing with the transition of community associations from developer to homeowner control. This task force published a paper entitled Best Practices: Transition, which was recently updated under Mr. Frumkin’ s leadership. He teaches senior level CAI classes such as M-370, “Managing Developing Communities” and M-320 “High Rise Maintenance and Management” on an ongoing basis. 

In May of 2024 he was awarded CAI’s Distinguished Service Award for his lifetime of service to the industry.
Mr. Frumkin is approved as a court-appointed mediator in the civil division of the Superior Court of New Jersey and mediates construction cases on an ongoing basis. He is also an approved Arbitrator under the New Jersey Homeowners Warranty program and has arbitrated numerous claims through this program. 
With a Bachelor of Science in Civil Engineering from Tulane University and a master’s in business administration from Rutgers University, Mr. Frumkin is a licensed Professional Engineer in multiple states and holds the Community Associations Institute’s Reserve Specialist designation. 

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Live event: 09/25/2024 at 2:00 PM (EDT) You must register to access.