What it is
Renovation of housing financed with Low Income Housing Tax Credits (LIHTC) depends on a sound scope, schedule and budget. Aztech performs a limited condition assessment and design review of the proposed work so that lenders, investors and syndicators have an engineer’s view before they commit.
When it is needed
When an investor, syndicator or lender wants an independent look at a proposed renovation: does the design match what is actually in the buildings, and do the scope, schedule and budget hold together?
What you receive
- A written report summarizing our site observations and our review of the documents provided.
- An assessment of the project scope and design relative to the conditions observed on site and the tax credit application criteria.
- Opinions on the proposed project scope, schedule and budget.
- A follow-up list of discrepancies noted, for the design team to clarify.
How the work runs
- Document review. A limited review of available renovation documents: the tax credit application, third-party engineering and environmental reports, drawings, specifications and other documents provided.
- Site visit. A visit to observe representative conditions.
- Comparison. The design documents are assessed against the observed conditions and the tax credit application criteria.
- Report. A written report with the follow-up list described above.
This is a limited review: it relies on the documents provided and on observation of representative conditions rather than every unit or system. For a detailed look at an existing property, see Property Condition Assessments. For a broader review of drawings and specifications, see Document and Design Review.
Talk to Aztech about your project
Tell us about the property and the renovation, and we will confirm the scope. You can also call (919) 630-9164.