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Attachment E <br />T h e plan presented pout herand e and in the RDA ReportTI, presumes replacement of all existing Roofing, Siding & ril <br />T <br />Gutter & Downs, Soffit & Fascia by June, 2009 with loan proceeds. <br />Major Components, [nicluded in the Funding Plan: <br />Subterranean Utility IF <br />*The Access Lane and Driveway funding includes projected expenditures for periodic chiPcoating, periodic section <br />relplacemleints, overlays at 20 years of age and reconstruction at 40 year's of age. <br />Fund Ing Requirements,: <br />The reserve funding plan for future capital im provem ent/re plat ern lent projects uses Cash Flow projections with the goal of <br />maintaining a positive balance in the reserve fund account for the next 30 years. The initial monthly reserve contribution <br />requirement 'is $1301.119 per unit per month. This is the minimum amount needed to meet the projected expenditures <br />and fulfill the mandates of state statute 515113.3-1114 and the association's governing documents,. This is $84.19 per <br />unit per month above the association 11 s 2008/09 budgeted rate. <br />Due to fluctuating interest rates, inflationary changes and the unpredictable nature of the lives of many of the assets, the <br />funding plan muist be updated routinely to maintain adequacy. We recommend updates at intervals of about 3 years. <br />Hom�eolwner's, Major I Compovent Responsibilities.: <br />The following major, components are not included in the funding plan beicause they are the responsibility of the individual <br />homeowners rather than the association: <br />,Garage Doors --- Courtyard Doors <br />Patiol Doors <br />wserve Stud�y Report Attachments: <br />1�--, <br />Thank yo, <br />I han <br />L Pleitters-en, RS MEMBER OF <br />P p community <br />iIdent ASSOCIA7111011i INSTITUTE <br />