Maintenance / Improvement Update
DONE A new roof on the clubhouse (the fabric awning has not yet been replaced but we’re working on it)
DONE Pressure washing Kirkwood entrance
As early as this week! Fencing replacement/repair around clubhouse grounds (this is primarily fencing in the far back)
Mid-October New plants at Kirkwood entrance (think xeriscape look)
November New card access system for gates (this should be a big improvement to residents that use the grounds)
Longer-term capital planning
Starting last year, an internal capital planning committee (of volunteer residents, led by James Healy) was formed. The group assessed the property and made a 5-year plan of maintenance items. James has spoken about this process at a couple of board meetings earlier in the year.
Additionally, the board engaged Reserve Advisors (a nationally recognized firm) to perform a “reserve study” at the recommendation of Graham Management. Kelly at Graham Management stated that very many of the properties she manages obtain a 3rd party reserve study to aid them in capital planning.
A “reserve study” consists of multidisciplined engineers to develop a detailed, comprehensive checklist to assess the condition and remaining life of all components of our community property. This is similar to a home inspection, but it is more detailed and results in a list of all property components with an estimated remaining life and projected costs to repair/replace over the next 30 years.
While our internal capital planning group nor the 3rd party reserve study are the end-all be-all, both of these exercises were extremely helpful in understanding the condition of all of our property elements, particularly which items need attention sooner. As with any exercise such as this, some points made by an inspector were dead on and some were not. It will always be the job of the board (current and future) to determine when and how to deploy capital. However, we as a board, do believe that getting multiple, comprehensive views on Heathlake property condition will aid future boards in more thorough capital planning, with hopefully some preventative maintenance thrown in.
With this said, we have been working on the 2024 budget and plan to approve a final budget at next week’s board meeting. At this meeting, we will discuss the capital improvements done this year, the few items we have planned for next year, and items that needs to be “watched” in following years.
HOA Board Meeting Tuesday, October 10 at 7pm
Agenda
I. Approval of previous meeting minutes
II. Executive action since last board meeting
III. Executive Session Actions
IV. Committee Reports
-ACC Update
-Security Update
V. New Business
-Capital Planning
-2023 Financials & 2024 Budget
VI. Adjourn
Followed by an open forum