BROADCASTS.com

A successful co-op or condo board knows when to trust the experts — and how to protect itself against a violation of that trust. A prime example of this tricky balancing act is putting a project out for bid. It’s a case study in the importance of collaborative decision-making and teamwork, as well as an easy target for an unethical vendor to take advantage of an unsuspecting board. Our question this week comes from a co-op board member who knows the dangers involved and has successfully navigated the waters with small-scale projects, but wants to know if there are additional projects his board should take with a million-dollar job on the horizon. In response, our attorney panel walks us through the competitive bidding process. Who should be involved, and when? What roles should the managing agent, engineer, attorney, and board play? And how does the board protect itself against cut corners and dirty dealings? On the panel this week: Marc Schneider of Schneider Mitola and Ron Perl of Hill Wallack. Music: Jazz at Mladost, “C-mol Blues” (http://freemusicarchive.org/music/Jazz_at_Mladost/Jazz_Night/C-mol_blues)