Building Condition Audits and Reserve Fund Studies
Cion Corp. has completed the two of three phases for the City of Brampton BCA project, a portfolio consisting of over 150 properties.
Cion prepared detailed BCAs for the first 100 properties, which total over 2.3 million SF. The buildings vary in building type (city hall. recreation, transit, office, theatre, library, warehouse, parking garage), size (under 100 SF to over 250,000 SF) and date in service ranging from 1867 to 2013. The BCAs are delivered through the Buildings and Property Management group, which is responsible for the City’s property portfolio of existing buildings and preserving the value of existing assets in a safe and sound condition for both public access/usage and City staff operations.
The goal of the BCA is to:
• update current inventory of building components
• document the condition of each building component and identify deficiencies
• determine the cost of deficiencies
• develop a prioritized capital repair / replacement plan for the City, which, will allow enable the City to project and secure appropriate funding
• prepare reserve fund studies and cash flow projections
At the City’s request the project will span over a three-year cycle which will be broken down into phases, with audit work conducted between March and November of each year. BCA are to be completed for all City-owned and managed facilities.