The Decision That Protects Your Asset: Why Approving the FISP Cycle 10 Project is Non-Negotiable

Every capital project requires a critical “Go/No-Go” decision. When that project is a Facade Inspection and Safety Program (FISP) / Local Law 11 renovation, the decision isn’t just about budget—it’s about protecting the long-term value and liability of your entire asset.

The 10th Cycle of FISP is now underway, and for many buildings, the clock is ticking on a crucial deadline ([refer to filing window in the memo]). Delaying this mandatory facade project is often seen as a short-term budget fix, but in reality, it is the single most expensive risk a board or owner can take.

Here’s why treating your FISP project as a necessary investment, not a preventable expense, is the only strategic path forward.

The Business Risk: Why Delaying is Not Budgeting

Think of your facade as your building’s insurance policy. When that policy is compromised, the cost of coverage skyrockets.

Analogy: The Overdue Oil Change	The FISP Project Delay
Delay Risk: Ignoring a $50 maintenance task.	Delay Risk: Postponing a $500k-1M facade project.
Result: A seized engine that costs $10,000 to replace and puts the car out of service.	Result: A minor defect becomes an UNSAFE condition, risking legal liability, catastrophic debris failure, and triggering mandatory, unplanned spending.

The Stakes are Public and Financial:

• Escalating Fines: Penalties are transparent and compounding. The $1,000 per month Late Filing penalty alone is designed to eliminate any perceived budget savings from waiting.
• Controlling the Narrative: Ignoring a Safe With a Repair and Maintenance Program (SWARMP) condition turns a manageable $50,000 fix into a mandatory, emergency $250,000 repair in the next cycle. You lose control of the scope, the contractor selection, and the timeline.
• Legal & Reputational Exposure: The true cost of failure is liability. A single piece of falling debris due to an uncorrected condition can lead to devastating lawsuits, instantly tanking property values and creating lasting reputational damage.

The Strategic Value: Protecting Your Core Asset

Approving the FISP project is not a sunk cost; it is a defensive capital strategy that secures the financial health of your building.

• Asset Protection & Valuation: A clean FISP record and a recently restored facade translate directly into higher property valuation and appeal. A buyer’s due diligence or a bank’s refinancing assessment will heavily penalize a building with open DOB violations, NRF status, or uncorrected SWARMP conditions. Compliance ensures marketability.
• Proactive vs. Reactive: FISP mandates the inspection, but your decision mandates the fix. By acting now, you schedule the work during favorable seasons, lock in current material and labor prices, and eliminate the unpredictable cost spikes associated with emergency remediation.
• Comprehensive Safety Check: The mandate includes not only the facade but also the annual parapet observation. By wrapping this work into a managed capital project, you confirm that your building’s shell—its primary protective layer—is sound for the next five years.

The Path Forward: Reducing Anxiety with Expert Guidance

We understand that approving a massive facade project can be daunting for a board or owner. That’s why Ethos PM Group specializes in demystifying complex construction and turning compliance into a straightforward process.

Our Expertise Simplifies Your FISP Cycle 10 Journey:

1. Eliminating Hidden Hurdles: We proactively manage the crucial, often-delayed steps like securing Access Agreements with adjacent properties and confirming the scope for required Investigative Probes.
2. Financial De-risking: We ensure complete financial visibility. We manage the bidding process, ensuring you receive proposals from vetted contractors based on an exact scope, eliminating surprise Change Orders.
3. Clearing the Past: If your building is facing an NRF violation from Cycle 9, we manage the Sub-cycle Override Request and immediate submission pathway, clearing past liability and giving you a clean slate.

The decision to move forward with your FISP project is the most powerful tool you have to stabilize costs, protect your residents, and secure your property’s future value. Don’t wait for your filing deadline to force your hand—use the filing deadline to launch your strategic plan.

Contact Ethos PM Group today to secure your FISP Cycle 10 timeline and move your project from daunting mandate to successful asset investment.