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HRP Associates,
Inc. acts as a Bank’s Technical Representative for the
purposes of reviewing the work completed on a project as
it relates to the funds requested by the Borrower
against the construction loan. The overall objective of
this work is to insure that the funds remaining in the
construction loan are sufficient to complete the
project. Our work also requires us to evaluate the
quality of work based solely upon visual inspections and
a comparison of the plans and physical evidence of work
completed in the field, and testing/certification
reports prepared by others and provided to us for
review. |
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Our work is not
construction inspection or engineering design of the structures
or mechanical/electrical/plumbing systems.
HRP has provided these services for various sites in
Connecticut, Pennsylvania and New Jersey. The types of projects
include commercial building space up to 250,000 S.F.,
residential construction, and large scale assisted living units.
Loan values have ranged from $2M to $18M. These services are
conducted under the supervision of a Professional Engineer.
The fees for this work are set based upon the complexity of the
project and the exact scope of services. More complex projects
requiring a more extensive initial review, or more frequent site
visits if more frequent construction draws are anticipated (i.e.
bi-monthly), will impact the fees.
For more information, please contact
Walter Gancarz,
P.E. at (800) 246-9021. |
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