Capital Needs Assessments

Capital Needs Assessments

Sample Reports

RTD Sample (Right-Trak Design Proprietary Format)

HUD Sample (Housing and Urban Development Format)

RD Sample (Rural Development Format)

RD Sample (Alternate Rural Development Format)

PURPOSE

The Capital Needs Assessment will:
  • Review the physical condition of each site and structure within the development.
  • Determine the capital improvement needs of facilities, equipment, systems and structural elements over a 15-year period, including non-dwelling components such as parking lots, landscaping, and common areas.
  • Incorporate resident and staff concerns and recommendations with regard to capital improvement needs.
  • Estimate the projected costs of recommended capital improvements, major repairs, and replacement of appliances, taking into account such variables as regional price differences and standard rate of inflation.

INSPECTION

The On-Site Inspection will:
  • Evaluate the overall condition of the site and structures and to identify deficiencies involving life safety, replacement, and maintenance issues.
  • Include the review each representative type of rental unit sufficient to identify individual interior improvement needs
  • Include a review of all common areas and building exteriors.
  • Incorporate information from blueprints, project manuals, personal recollection and other forms of historical data.

REPORTS

The Written Review will:
  • Present work items as they relate to the current status and condition of the property.
  • Incorporate descriptive text with supporting spreadsheets, graphs and summaries.
  • Include Site Conditions, Interior and Exterior Architectural Elements, Mechanical & Electrical Systems, and Dwelling Units.
  • Reserve first priority for those expenditures that benefit the health and safety of tenants.
  • Assign second priority to expenditures for previously deferred cost of maintenance or replacement.
  • Give third priority to those expenditures that would help to reduce operating expenses.
The Written Review will also:
  • Project the anticipated repair or replacement costs, with inflation, to assist in developing an appropriate budget.
  • Project major maintenance expenses as well as capital expenses for replacement and improvements.
  • Forecast the year-end amount of the Replacement Reserve for each year based upon the anticipated funding structure and expenditures.
  • Include a schedule of forecasted expenses entitled “Exhibit I – List of Work Items” which lists the anticipated year that replacement or maintenance is to be performed.
  • Include as Exhibit II a “Yearly Cost Form Summary” showing the annual expenditures for the term of the report.