EAE implements multi-step Construction Monitoring for owners, developers, lenders and other financing parties. The primary objectives of our Construction Monitoring Services are to evaluate and document the progress and value of site improvements and to limit the exposure of our client through review of funding agreements and checks on financial documentation, lien waivers, and assistance with the disbursement process. EAE has provided nation-wide construction monitoring services for charter schools, many TopGolf™ facilities, large theaters, hotels, office buildings, and mixed-use developments.
EAE will evaluate potential risk by conducting analysis of the pre-construction project plans and specifications, review of construction scopes of work, bond document review, and a review of the cost and schedule. After EAE reviews the funding agreements, we lead a Kickoff Meeting with all the key entities on the project to clarify and summarize the Construction Monitoring process through completion of the project.
Payment Application Review
You need to know how your development dollars are being spent and ensure that you are getting your money’s worth. EAE has over 25 years’ experience providing construction financial documentation expertise to back you up.
Detailed review of construction payment applications
Correlation of payment application costs to percentage complete
Resolution of documentation issues
Submit a review letter so funding of the payment application can be initiated
Assist with collection of closeout documents such as warranties and maintenance manuals.
Lenders or owners often don’t have the time to visit a construction site or the or expertise to confirm construction progress. EAE’s tailored services help our clients manage their liability and free up their time to conduct their business.
In-person site inspections and/or virtual site inspections
Obtain critical information by interviewing the Site Superintendent
Documentation of city inspections and permits
Awareness of potential change orders
Conducted on a periodic basis over the duration of the project.
WHAT OUR CLIENTS SAY:
I’ve worked closely with Jill, Rick and the rest of the EAE team on a significant, and growing, number of charter school financings, and have found EAE to be incredibly knowledgeable, thoughtful and responsive. Jill, in particular, has a remarkable skill for looking out for the best interests of all constituencies and for bringing a brilliant clarity to the often opaque world of environmental issues. On the construction monitoring side, EAE has been invaluable in helping to establish the ‘rules of the road’ as a financing comes together and, more important, enforcing those rules and providing early warning signs to owners and lenders when it appears that trouble might be brewing at a project. I look forward to partnering with EAE on many future transactions.
Aaron Williams, Attorney
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.