7 Ways to Pay for Construction and Renovation When Your Budget Tightens During COVID

A few weeks ago, I was talking to a senior level FM for a large regional bank in New England. We were talking about an energy efficiency project he had been organizing for this year. Then COVID hit in March 2020 and he said, “my budget went right out the window. Instead I was buying protective shields for branch employees, PPE’s for everyone and supporting IT out of my budget with laptops, secure network access and cybersecurity.” 

Time and energy are equally difficult to manage. Especially when you are dealing with multiple facilities. The most experienced FM’s have built a planning calendar over years of experience that allows them to see the maintenance and capital projects with an enormous amount of clarity. Then COVID hits and time and money get challenged. Our careful planning allows us to react. But where do the additional funds come from? I just attended a great workshop on “Funding Construction, Renovation and Sustainability.” It was sponsored by one of the largest electric utilities in the country. There were 7 funding programs that may help restore funding for some of your projects (some are COVID related, some are not). Just complete the following survey and I will send it to you.