CURRENT STATUS: HPN has signed an “Elevator Renovation” contract with the Otis Elevator Company
BACKGROUND
In January 2015 the Board determined that the magnitude and technical complexity of the upcoming Elevator Project demanded engagement with a professional advisor and voted to enter into an “Elevator Consulting Services Agreement” with Michael Blades & Associates (MBA).
On February 25th, four firms were invited to bid on HPN’s Elevator Project: Delaware Elevator Inc. (HPN’s incumbent supplier), Otis Elevator Company, Schindler Elevator Corporation and ThysennKrupp Elevator-Americas.
At a special meeting convened on April 25th, and based on MBA’s evaluation and recommendation, the HPN Board voted to award a contract to the Otis Elevator Company with offices in Linthicum, Maryland.
Cost and bid process details can be found in an email being sent to owners, or from the HPN office.
KEY PROJECT MILESTONES
MBA will provide Project Management support until final acceptance
- May 2015 – Begin off-site work; final design, cab and system architecture; order long-lead parts
- September 2015 – On-site work begins. Material deliveries/storage begin
- December 2015 – Complete modernization of Elevator #1} every effort will be made to keep 2 elevators running
- January 2016 – Complete modernization of Elevator #2 } however there will be a 12-15 week period in the fall
- April 2016 – Compete modernization of Elevator #3 } when there may be only 1 functioning elevator
- May 2016 – Final local and State inspection and acceptance.
FINANCIAL
Beginning in August 2014, the Board visited seven local lending institutions to lay the groundwork for a possible loan to finance the Project. In April 2015 final negotiations were conducted and the Bank of Ocean City (BOC) terms were viewed as most favorable to the owners. Financing details can be found in an email being sent to owners, or from the HPN office.