Viridian’s goal to help customers enhance the financial and operating performance of their buildings. We can “Optimize Existing Building Performance” by providing practical and cost effective solutions for energy reduction.
Property Condition Assessments
Viridian’s Property Condition Assessments provide a comprehensive reporting mechanism that establishes an objective evaluation of the condition of an existing facility and creates recommendation opportunities to modernize and upgrade building systems/components. Our due-diligence process includes document research, interviews, a walk-thru survey and, finally, preparing a Property Condition Report (PCR) in accordance with ASTM E2018-08 – Standard Guide for Property Condition Assessments.
The PCR is intended to identify conspicuous physical defects and material deferred maintenance related to building systems or components and weighs those defects against expected useful life and a reasonable cost to remedy such defects. Practical recommendations and opinions of cost are broken down into three (3) categories:
1. Immediate (Life Safety/ADA/Detrimental Physical Defects)
2. Short Term (1-2 year action time)
3. Capital Reserves (Major building systems scheduled over several years)
Viridian’s Cost Segregation utilizes a depreciation strategy allowed by the IRS to help building owners accelerate depreciation of certain assets intertwined in an overall building’s cost. These assets include: Land improvements, building, structural components, tangible personal property, and other tangible property.
Reducing tax life not only results in accelerated depreciation, but reduces tax liability and increases cash flow. Increased cash flow can be reinvested in energy efficiency measures used to lower power consumption and operating cost. Often times energy efficiency capital improvements have a short payback period of 1-3 years.
Viridian’s Cost Segregation Study (CSS) and Cost Segregation Report (CSR) conform to the IRS Cost Segregation Audit Technique Guide (ATG) and the Minimum Quality Standards for Cost Segregation Studies as defined by the Society of Cost Segregation Professionals (ASCSP).