Moran Construction Consultants (MCC) is a licensed and insured construction and consultation company with 50+ years of experience spanning projects throughout the United States. We specialize in construction loan monitoring, document and cost reviews, property condition assessments, construction cost consulting, completion guarantees, SBA funds control, and owner’s representation. Our clients include primarily lenders, investors, developers, government entities, and appraisers.
CONSTRUCTION LOAN MONITORING
Construction Loan Monitoring services consist primarily of an initial Document and Cost Review, monthly site inspections and reporting, and a final closeout report; all with emphasis on project cost, time, quality and conformance of completed work. We work closely with project teams throughout the construction process to gather documentation and gain a clear understanding of issues as they arise in order to facilitate expedient resolutions and ensure successful project completions.
Document and Cost Reviews consist of in-depth analysis of project documentation inclusive of design and construction contracts, project team qualifications, drawings, specifications, surveys, budgets, schedules, governing authority approvals, specialty engineer reports, among other relevant documents. We utilize our extensive project database to complete accurate comparisons in regards to project cost, time, and project team experience based on geographic region and specific project type. The initial Document and Cost Review should be completed prior to loan closing in order for issues to be identified and resolved before documentation is finalized.
Site inspections are completed monthly with the project team to document work completed on site, discuss staffing and schedule issues, discuss budget issues and potential change orders, review current applications for payment, review monthly project logs, and review testing lab reports and other relevant documentation. Site inspections are followed up by monthly reports documenting the site visit and providing an in-depth review of monthly documentation. Payment application packages are reviewed for percentage completion, percentage billed, amounts requested, amounts recommended for funding, change orders, adequacy of remaining funds and backup documentation such as lien waivers and off-site stored materials documentation. We work with project teams to resolve identified issues to the greatest extent possible prior to issuance of reports in order to minimize follow up discussions.
CAPITAL NEEDS ASSESSMENT AND CONSTRUCTION COST CONSULTING
Our property assessment reviews are tailored to meet each individual properties needs. We have experience completing assessment reports meeting ASTM E2018-15, Freddie Mac, Fannie Mae, HUD, and multiple State Agency reporting requirements.
Property inspections are completed to document existing conditions, immediate physical needs, physical needs over the term, adverse property conditions, deferred maintenance items and life safety and accessibility issues.
We offer HUD Rental Assistance Demonstration (RAD) Physical Condition Assessments inclusive of energy audits, utility consumption baseline analysis, and CNA e-Tool input.
Cost consulting includes reserve for replacement analysis, insurable value estimates, replacement costs, costs to complete, costs to cure deferred maintenance items and cost approach estimates.
SBA LOAN FUNDS CONTROL
Completion of document and cost reviews as well as monthly monitoring reports inclusive of documentation requirements defined by SBA SOP 50 10 5 (I).
Document and log financial information from the prime contractor, subcontractor’s and vendors as applicable for monthly funds disbursements.
Verify the requested amounts are acceptable based on the professional of records certification, review of previous applications, review of current applications and review of work completed on site.
Review the contractor generated vendor payee list, obtain owner approval of the recommended funds to be released, request funds to be transferred from lender to an MCC account, then disburse funds to the prime contractor, subcontractors and vendors as applicable.
Review and log all conditional and unconditional lien waivers provided by the contractor as a condition of funds release.
Maintain all accounting records and logs in accordance with lender requirements as well as applicable accounting guidelines.
We provide investors/syndicators with an annual stabilized and/or occupied property. We will assess property conditions, discuss maintenance and warranties with the property manager and maintenance teams, and provide maintenance and recommendations and cost estimating to remedy any reported deficiencies. This service can be tailored to any standard or frequency and is handled by our in-house staff of professionals.