At TAM we’re passionate about housing sustainability and everything we do is to help our clients manage their buildings to the highest and best use at the lowest life cycle cost. The project belongs to the client and final decisions rest with the owner but TAM is there every step of the way to put the various pieces together into a coherent plan, push for successful completion, and manage the risk.
Pragmatism is the hallmark of the TAM methodology. The right way to approach a project is whatever works to achieve the goals of our client with the most efficient use of time and money. That being said, the tasks and activities typically fall into 3 broad categories, advancing concurrently as each informs the other. TAM is uniquely experienced, skilled and knowledgeable in executing all 3.
Every co-op, housing society or strata has to follow the regulations that govern their existence and possibility seek approval from regulators. Co-ops or housing societies may have an Operating Agreement with CMHC or BC Housing, stratas must adhere to the Strata Act, and all housing types have a set of Rules or Occupancy Agreement.
If there are insufficient replacement reserve funds set aside to pay for the planned work and housing charge increases or special assessments won’t do it either, then the client will need to arrange financing. Security for a construction loan may take the form of new 1st or 2nd mortgage, a blend and extend scenario refinancing an existing mortgage, a business line of credit secured by the property, or a priority agreement over rents and fees.
The construction team is made up of the owner, project manager (TAM), consulting engineers, trades, and typically a general contractor or construction manager. TAM acts as the owner’s representative to coordinate the team and our Claims Department manages the monthly construction draws.