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

Environmental Compliance Reviews

An environmental compliance review evaluates the operations and equipment at a property, determines the applicable environmental requirements, identifies where gaps exist, and presents a pathway to compliance. Compliance gaps may be caused by many factors, including acquisition of new operations, the continuous development of new environmental regulations, facility growth or expansion, and personnel changes resulting in loss of inherent knowledge. The above operations and equipment may trigger air permit requirements, EPA NESHAP requirements, water discharge permitting, spill plan development, waste disposal management ... Read more

Team Building and Community Service Come Together at Nova

Nova is committed to corporate giving and community service. Last month, the Administrative team (Accounting, Associate Management, Human Resources, and Recruiting) in Chaska, MN, decided to organize a fundraising activity for local charities as their team building event. The team chose to brew and bottle a couple of fun specialty beers at a local brewery, Vine Park Brewery in St. Paul, MN. “Our hope was that people would be interested in making a monetary donation in support of our selected charities in ... Read more

New to the Nova Team – July 2016

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Byron Nelson Golf Tournament

On Friday, May 20, Nova hosted guests at our signature suite overlooking the 17th green at the Byron Nelson Golf Tournament. The event was hosted by the TPC Four Seasons Resort in Irving, Texas. . Read more

Lien Laws and Avoiding Construction Delays

Money flows on a construction project, from lender to borrower to general contractor to subcontractor and supplier—that’s a lot of changing hands, and that means risk. This is why our lending clients often ask for advice on the specifics of lien laws and lien waivers. For those active in construction lending, one version or another of a lien waiver document likely crosses your computer screen at least once a day. These files are a lot like receipts—receipts which state that, in ... Read more

New to the Nova Team – May 2016

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Case Study: Incorporating Energy Efficiency into Your Capital Improvement Plan

In the fall of 2014, Kurt Shillington at Princeton Properties hired Nova Consulting Group for an energy retrofit of the company’s newly acquired Princeton Dover Apartment Homes. The property is a 5.84-acre parcel hosting 10 three-story buildings with 125 garden-style apartments and a stand-alone management-leasing office. It is located close to downtown Dover, New Hampshire, and includes amenities such as a swimming pool, a tot lot, an exercise room, and generous amounts of open space.  Heat at the property is provided ... Read more

Nova’s Construction Services Group

It’s sometimes difficult for a lender to determine the extent of due diligence necessary when funding a construction project. When engaging a consultant, you are looking for a partner and guide through the pre-construction, construction, and closing stages of a project. You want the deal started on the right foot. Therefore, whether you are affiliated with a larger lending institution with an internal engineering department or your construction lending is handled on a case-by-case basis, it is important to have a trusted ... Read more
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