Community Associations Network Industry News

ORLANDO, FLA. – Kipcon President Mitchell H. Frumkin recently presented at two panel discussions at the International Builder’s Show in Florida, offering insight into some of today’s most common building problems. Kipcon is a full-service engineering firm specializing in a variety of building and site engineering services with offices in New Jersey, Washington, D.C., Illinois and Texas.

Frumkin spoke about the challenges and oppotunities involved with the design, budgeting and construction of mixed use developments and various ways builders and developers can reduce the risks associated with projects that will eventually be run by a community association.

“Kipcon is unique in the work that we do, offering a third-party perspective to traditional building problems,” Frumkin said. “The reality is that developers often run into problems that could have easily been addressed earlier in the design, budgeting or construction process. Kipcon has worked on the full gamut of construction projects, so we have the advantage of knowing what mistakes to watch out for before they occur.”

Frumkin’s talk on risk management focused on the various techniques available to builders for minimizing the risk of litigation typically associated with community associations. These techniques include developing effective risk management plans and documents in the development phase, and avoiding common pitfalls during construction and turnover.

“Kipcon has worked with a large number of community associations, and we’ve seen where builders and developers can get into trouble,” Frumkin said. “Lack of coordination between architectural and engineering drawings, improper construction, poor workmanship and inadequate budgeting can all lead to major headaches throughout the life of a project. But a thorough risk management plan can reduce or eliminate these problems.”

Kipcon offers a variety of services for dealing with developer and community association disputes, including third-party reviews of all design documents and construction inspections, and non-confrontational mediation between the two parties before litigation is considered.

“I think it’s important to remember that there is no such thing as perfect construction, though it certainly doesn’t hurt to strive for perfection,” Frumkin said. “Where problems do exist, they should be fixed. But every developer has the chance to eliminate mistakes and really guide every project from start to finish. I wish more builders and developers would take advantage of the tools available to them.”

About Kipcon Inc.
Founded in 1986, Kipcon Inc. is a full-service engineering firm specializing in a variety of building and site engineering services for existing and new facilities, offering design, inspection and budgetary tools such as reserve studies. Headquartered in North Brunswick, N. J. with offices in Washington D.C., Houston and Chicago, Kipcon has become a nationally recognized leader in the community association and building industry.

For more than two decades, Kipcon has helped clients maximize property values by delivering innovative services and professional consulting in an environmentally and socially conscious manner. For more information about Kipcon, please visit www.kipcon.com or call 800-828-4118.

Posted by Joe at 11:48 AM | Permalink

RALEIGH, N.C., March 3 /PRNewswire/ -- North State Bank (OTC Bulletin Board: NSBC) president and CEO Larry Barbour announced that the bank's balances for community associations have exceeded $100 million.

"This marks a huge milestone for our bank," said Barbour. "Since our inception in 2000, we have been deeply committed to serving the banking needs of community associations through property management companies in our market area," Barbour later comments, "and we have not wavered from that promise. We have built a strong portfolio under the leadership of Sandra Temple and Greg Asbelle. Mrs. Temple is also president of Community Association Institute (CAI), the statewide trade association for property management companies, and is deeply rooted in the industry. I am pleased to report these numbers as we continue to grow and expand our relationships within this dynamic market."

North State Bank currently serves 32 associations in North Carolina - stretching from Morganton to Manteo. The bank also serves one association in Maryland. These associations accounted for $103 million in total deposits as of February 28, 2008.

Founded in 2000, North State Bank is a full-service community bank, serving Wake and New Hanover counties through seven full-service offices. Plans are underway for a loan production office to open in Morehead City, North Carolina, in spring 2008.

North State Bancorp is listed on the OTC electronic bulletin board under the symbol "NSBC."

www.northstatebank.com

This news release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including our ability to manage growth, our limited operating history, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other savings and financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's SEC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Company.

Posted by Joe at 11:09 AM | Permalink

NORTH BRUNSWICK, N. J.- Kipcon Inc., a pioneer and leader in cost effective design and engineering solutions, has taken a leap forward in assisting community associations with minimizing the long-term costs associated with energy consumption, routine maintenance and replacement of capital assets with the introduction of Value Engineering Analysis, a service copyrighted by Kipcon Inc.

This new service is a complement to Kipcon's reserve studies, which have served as the industry standard for over 20 years. Value Engineering Analysis is an integrated approach to reviewing the three main areas of an association's budget - energy, maintenance and replacement parts - in order to better understand how those areas work together and how that knowledge can be used to reduce overall costs. A North Brunswick based full-service engineering firm, Kipcon is the first engineering company to offer this service.

In a standard reserve study, replacing capital components such as a deck or mechanical equipment is typically done by installing material and equipment similar to the original component. With Kipcon Value Engineering Analysis, a detailed review is undertaken, considering all of the materials and equipment that has to be replaced along with any associated costs, including energy and maintenance costs. Kipcon then makes recommendations for material and equipment upgrades that will result in long-term reductions in overall costs. By employing such an integrated approach, community associations will be able to reduce their total cost of operation as these replacements occur.

'The cost of operating a community association continues to escalate due to the increase in the cost of materials, maintenance and energy, and the demand for green communities is only going to escalate in the future,' said Mitchell H. Frumkin, president and founder of Kipcon Inc. 'An integrated approach towards Value Engineering is the next logical step in helping our clients operate the most cost-efficient communities that they can. We strive to provide the most up-to-date services for our clients, and we are extremely pleased to assist them in maintaining the value of their properties while saving them money on an ongoing basis."

Kipcon's Value Engineering Analysis is the first service of its kind for the community association industry. Frumkin, who has served as the president of the Community Associations Institute (CAI) and the CAI's National Research Foundation, developed the concept in order to better serve his clients.

'A perfect example of the benefits of this type of strategic analysis is the replacement of wood decks,' said Frumkin. 'Kipcon's Value Engineering Analysis would suggest replacing wood decks that require staining every five years and replacement every 15 years with a maintenance-free material substitute. The material cost may be 25 percent higher initially, but the deck will not require maintenance and will have an indefinite life span, removing it from the community association's reserve schedule all together.'

Value Engineering Analysis can also save thousands of dollars in the replacement of mechanical equipment. By installing higher efficiency equipment, energy costs go down and the association saves money over time.

The possibilities for energy savings using Value Engineering are nearly limitless - from replacing incandescent light bulbs with more energy conscience fluorescent bulbs to installing solar panels and low-flush toilets, the monetary and environmental rewards are numerous.

About Kipcon Inc.
Founded in 1986, Kipcon Inc. is a full-service engineering firm specializing in all engineering services related to community associations, from initial transition studies to ongoing upgrades and additional site amenities, including testing, feasibility studies and the preparation of reserve studies. Headquartered in North Brunswick, N.J. with offices in Washington D.C., Houston and Chicago, Kipcon has built a market leadership position serving community associations, real estate developers and tenants involved in new construction and facility renovations. Kipcon is well known for their ability to save clients money through cutting edge engineering services based on their industry leading knowledge of the community association marketplace. For more information about Kipcon, please visit www.kipcon.com or call 800-828-4118.

Posted by Joe at 7:58 AM | Permalink

Instead of an article from RFund this week, the RFund people are offering a free components list. This is a 600-item list of repair and replacement elements for community association planners, reserve specialists, managers and boards.

Graham Oliver of RFund says …”It isn’t all that rare to have a reserve fund plan that has somehow neglected to list all the components for which cost estimates are required. This list is intended to make sure that you cover all the bases”.

To learn more about the Component List and how to obtain your no-charge copy, click here.
http://www.oliver-group.com/rfund/rfund_clist.html

Posted by Joe at 12:11 PM | Permalink