J.S. ALTIMORE, llc
Construction Management Services
Lending institutions must properly assess the developer's ability to complete the construction project within specified cost and time limits. The Construction Loan Administrator will provide due diligence services and reporting to allow for the lender to accurately make the required assessments. This administrator will be activity engaged in the project throughout the life of the loan performing a series of document and budget reviews as well as scheduled site inspections.
Construction Monitoring
Subsequent to the loan closing, J.S. Altimore, LLC monitors and reports monthly on the state of construction. We provide detailed site inspections and maintain close communications with the contractor to give the lender assurance that their project is completed in conformance to the plans and specifications. The following highlights the construction monitoring services we provide.
J.S. Altimore, LLC provides scheduled on-site project inspections in order for us to report to our clients the current state of construction. During the inspection we speak with the on-site construction management and developers to gain a full understanding of the project status. Photographs and detailed notes on progress, man-power, quality, and code compliance are taken and reported in the construction monitoring report.
Permit and Code Compliance Review
J.S. Altimore, LLC reviews the current building permits and confirms the work in place conforms to the codes set by the local jurisdictions.
Project Progress Schedule Review
J.S. Altimore, LLC reviews the project progress schedule and assesses the feasibility of the project schedule and provides an analysis to our clients showing its adequacy.
J.S. Altimore, LLC reviews the project’s current projected cash flow and compares it with the previous projections. A comparison is also made with the project’s progress schedule to determine its accuracy.
J.S. Altimore, LLC assesses material testing reports to ensure the products delivered to the project are in accordance with the contract documents. Any variations to the contract documents are brought to the attention of our clients.
Change Directive and Change Order Assessments
J.S. Altimore, LLC reviews all construction change directives issued to the project. We report to our clients the purpose and validity of each change directive and evaluate the associated costs of each. A detailed comparison analysis of the change order cost is conducted by comparing the cost to similar project types and sizes with regional construction cost adjustments.
J.S. Altimore, LLC reviews each pay requisition. The observations made during the site visit are used to evaluate the validity of the current invoiced amount on the pay requisition. The pay requisition is also reviewed for compliance with the contract documents and verified that the proper authorizations have been given for approval.
