Changes to HUD MAP Program

In recent months, there have been some changes in the Department of Housing and Urban Development (HUD) Multifamily Accelerated Processing (MAP) program. Revisions to the MAP Guide were posted on January 29, 2016, with some additional minor changes implemented in January 2017. Some of these changes include the new HEROS forms,  updated radon regulations for Phase I Environmental Site Assessments (ESAs), intrusive testing required for properties older than 30 years, and the Capital Needs Assessment (CNA) e-Tool (to be launched in ... Read more

New to the Nova Team – June 2017

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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 manage the other existing consultant. Following review ... Read more

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 focus on the safety of our employees. ... Read more

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 reports. A score between 1 and 3 will be given based ... 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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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

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

The Importance of Considering Dew Point When Increasing Insulation in Existing Buildings

Many of Nova’s clients seek our help in retrofitting existing buildings, with the goal of reducing utility expenses. Often, we are asked to evaluate the impact of additional insulation on an exterior wall. This is a tricky subject to navigate and depends on a variety of factors. In International Energy Conservation Code (IECC) Zones 5 and higher, retrofitting an exterior wall with additional insulation carries a risk of moving the dew point within the wall. This can create a condition in which ... Read more
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