To date we have collected just over half of the Special Assessment
funds and have started down the path. The basketball court has been
repaired and updated with resurfacing, new goals and pickle ball
added. Plans and bids have been secured for the tennis courts. The
pool and playground have started with surveys, detailed plans and
cost estimates. There are some plans for Landscape and I am sure
Kathy will help move those updates forward.
It is difficult to start the larger projects in parallel as some
cannot easily be broken down into smaller sub-projects, or by doing
so costs increase considerably. Also, costs increase as time goes
on due to labor and materials costs. The Board and Oversight
Committee are committed to remaining in budget for each amenity for
the Special Assessment funds, but have proposed to leverage our
Reserve Fund to accelerate projects.
The Reserve Fund was started for the express purpose of renewing
and replenishing our amenities. It is a set aside, every month,
from our operating funds. However, the Reserve was underfunded and
needed a ‘catch up’. The Special Assessment was that ‘catch up’ and
with the vote passing, the funds were ... Read More