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Case Study – A Solution for Site Closure

Case Study: A Solution for Site Closure A regional bank client had foreclosed on a property impacted by petroleum contamination to the soil and groundwater. Working with another consultant, a cleanup had been underway for several years when the client received a shut-down notice from the local air regulatory agency saying that permit conditions had been violated. The client wanted Nova to review existing information and either take over the cleanup, come up with a better solution to get site closure, or ... Read more

International Division Update

Nova’s commitment to helping clients understand variations in local markets can be seen in an uptick in overseas work by U.S. clients in the U.K., the Netherlands, and Australia. We’ve recently undertaken assessment for a number of construction loans and redevelopment/refurbishment plans in these markets. Our focus in these projects is to understand the scope of refurbishment, how the plan fits into the local market, and what local costs will be, as well as to check that any required maintenance issues, such ... Read more

New Challenges to Addressing Marijuana and the Workplace

New Challenges to Addressing Marijuana and the Workplace While most companies have a drug policy that restricts the use of recognized illegal narcotics, alcohol, and some prescription drugs, as more U.S. states legalize recreational and medical marijuana, there are new complications facing safety and HR managers. Simply put, the new marijuana drug laws, as well as OSHA’s position on post-incident drug testing, have made managing drug use in or on offices, plants, project sites, and transportation more difficult. First and foremost, we must ... Read more

Fannie Mae Updates Guidelines for Green Rewards and Delegates Review to Lenders

Fannie Mae Updates Guidelines for Green Rewards and Delegates Review to Lenders On May 22, Fannie Mae (FNMA) released an update to its 4099 guide, with changes to requirements for High Performance Building reports. New requirements take effect for assessments engaged on or after May 22, 2017. This update brings good news to lenders and consultants, with some process refinement and quicker turns. What this means for lenders Delegated Underwriting and Servicing (DUS) lenders are now required to review and score High Performance Building ... Read more

Nova Anticipates Strong 2017 in International Markets

Despite financial wobbles in Europe, tremors from Brexit, and uncertainty following the US presidential election, Nova is happy to report that 2016 was a brilliant year for our International business, and 2017 is shaping up to be even stronger. Nova’s business in Europe, Australia and Asia continues to grow across a variety of sectors. We believe this is partly due to strong USD exchange rates but also, largely, to the level of service and quality of products Nova offers its clients both ... Read more

New to the Nova Team – February 2017

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Freddie Mac announces multifamily green building financing initiative

Freddie Mac announced earlier this month their Multifamily Green Advantage program, a suite of offerings rewarding borrowers who improve their properties to save energy and water with discounted loan pricing. Tipping the scales for financing upgrades to multifamily housing toward sustainability, this new program from Freddie Mac has the potential to unleash large amounts of capital for green building improvements. This is very good news for green building. Property owners who commit to reduce energy and water consumption by at least 15 percent ... Read more

Nova’s Equity Markets Group Meets Your Needs and Goals with Custom Scopes

I am excited to join Nova Consulting as the Equity Group Manager and to expand the Equity platform here at Nova. Acknowledging that there is no “one size fits all,” our group is committed to providing Nova clients with customized solutions at all points in the real estate cycle. This starts with understanding the scope of a project. We advise in areas such as acquisition, disposition, pre/mid/post-lease, and capital planning. In this article, we will introduce some of the Equity Markets ... Read more

Did You Know? Coal Ash Ponds Found to Leak Toxic Materials

The environmentally detrimental effects of coal ash are not new; however, recent studies are shedding further light on the impact of unlined coal ash ponds to the environment. You should make sure that your consultant is doing their historical due diligence and checking that these types of facilities aren't near your property. Nova's ESA Group National Practice Leader reviews a recent article on the subject. Studies by Duke University at 21 power plants in five southeastern US states have shown toxic heavy ... Read more

ASTM Update on New Seismic Requirements

The American Society of the International Association for Testing and Materials (ASTM) has recently adopted new standards for seismic risk assessments. The old standards, ASTM E2026-07: Standard Guide for Seismic Risk Assessment of Buildings and ASTM E2557-07: Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments, have been replaced with ASTM E2026-16a: Standard Guide for Seismic Risk Assessment of Buildings (“Guide”) and E2557-16a: Standard Practice for Probable Maximum Loss (PML) Evaluations for Earthquake Due-Diligence Assessments (“Practice”). The new ... Read more
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