Board Briefing | 4.14.23
Updated: Apr 16
The Lobby reconstruction plan has been approved by the steering committee and passed on to the board for consideration. For those on property, the proposal is in the war room. Our programmer is busy at work, and we hope to have those plans uploaded to the portal in the next few days. Look for it in the Groups section / Master Plan.
The steering committee also is recommending the board approve W. J. Johnson and Associates to develop a consolidated Conceptual Design Proposal for Site and Amenities Upgrades
The insurance company adjuster for the wind policy sent a damage estimate to the attorney yesterday. The estimate is for $5.7M and does not include the flood coverage. Mechanical Equipment Building, Guard House, Carport, Swimming Pool, Spas, Tennis Courts, Perimeter Wall, Metal gate, and Fencing are allocated to the flood coverage. The $5.7M is a good starting point but many items were low balled, and several items have not been addressed. Their report is over 800 pages so it will take some time to analyze. To that point the attorney has recommended that we investigate hiring a public adjuster to analyze the adjuster’s estimate. The board will meet in executive session next week with the attorney to interview two companies as public adjusters. A summary of the estimate is shown below.
There will be an open board meeting April 28 for the purpose of approving the 2023 budget and a proposed $25,000 special assessment. Andrea put in some extra overtime and was able to get both items on the one meetings agenda. The meeting is open to any and all questions and comments, but it is best if you could ask your question prior to the meeting. Use the Comment Section below the Blog to respond. Here are some questions I have already received.
Q & A
Q. What happened to the two-installment plan.
A. The notice sent to the owners shows a single payment of the special assessment. The board will address this issue at the meeting but I believe a multiple payment plan will be presented.
Q. What is the money being used for?
A. The funds collected as the special assessment will be used for reconstruction. Items not covered by insurance or additional amounts above what insurance dollars are paid.
Q. I also thought we were waiting a bit to see what the insurance company payments are?
A. I believe the waiting period is over. We have received some indication of what the insurance company is going to pay. We also need to get on contractor’s schedules to get our work done in a timely manner.