On May 13th at the Donald E. Stephens Convention Center in Rosemont, this year’s CAI-IL Condo-HOA Conference & Expo will be “Unity in the Community” and offer education sessions on legal updates, innovative trends, hot topics, and industry best practices, as well as opportunities to share, learn, network, and discuss challenges and solutions. Join more than 1,500 industry professionals and homeowner volunteer leaders – along with over 200 exhibitors – for the most comprehensive 1-day event for community associations in the state of Illinois!
Sign-up to attend this course and more at the 2022 IL Condo-HOA Conference & Expo!
Curious about the kinds of courses you can expect to see at this year’s Conference & Expo? Here are a few of the many session options you’ll have to choose from!
Importance of Funding Plans
Discussions surrounding planning for capital-intensive projects in a timely manner can be challenging for many Boards. Making informed decisions that maintain the investment of the owners in your community is part of any Board’s fiduciary obligation, and it’s imperative that Boards are equipped with the tools to make such decisions.
The education session Pillars of Structural Safety – Funding will discuss various capital funding theories and explore the variety of funding options available to associations. Because Board indecision can lead to deferral of critical projects and increased project costs, it’s important to take action when necessary. The concepts used to develop expenditures and funding plans within a reserve study will be discussed, as well as ways to avoid such paralysis and conflict.
Reserve studies are a capital planning tool that guide your association’s near and long-term capital planning needs, which helps tremendously in getting your Board on track for long-term success. Because reserve studies are prepared with timeliness, it’s important to update your study periodically to help incorporate current economic conditions into your capital plans. Why and when to update your study will be covered in this session.
Bank financing often provides communities with a beneficial funding mechanism to take on capital intensive projects in a timely manner. The typical timeline for obtaining bank financing and the repayment sources for such financing will be discussed. There are various loan structures available to associations, and each will be covered so you can determine which may be right for your association.