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Attachment H <br />RESERVE DATA ANALYSIS, INC. <br />� <br />www.RDAmidwest.com 1409 Osbarne Road Northeast - Minneapolis, Minnesota 55432 <br />MPLS (612} 616-4817 - TQLI� FR��: (866) 78C}-7943 -�AX: (866) 484-7943 <br />�mail: info@RDAmidwest.corn <br />September 1, 2008 <br />Westwood Village One <br />Rose�ill.e, Minnesota <br />Capital Reserve Plan for Major Repairs and Repfacements <br />This long range capita! reserve irnancra! plan is 6ased on the frndings detarled in the RDA Reserve Sfudy Reportr"' <br />version 002 dated August 30, 2008 for the assaciation`s fiscal year beginning Apri! 1; 2009. The reserve study and <br />reporf exceeds the Nationa! Sfudy Sfandards of The Community Assaciatians lnstitute which are recognized and <br />referenced in fhe Common lnterest Auditors Guide published by the American Insfitute of Certi�ed Public <br />Accountants. <br />The plan presented here and irr the RDA ReportT"' presumes replacement of a!! exrsting Roofng, Siding & Trrm, <br />Gutier & Downspout; and 5offit & Fascia by Junc, 2009 wifh loan proceects. <br />Major Camponents Included in the Fundi�g Plan:: <br />*Access Lanes <br />Curb Replacem <br />Swimming Paal <br />Swimming Pool <br />SidinglTrim ReK <br />Mailbox Replac� <br />Subterranean U <br />�ment Bfd� <br />rbishment <br />m.en.t <br />F2oof Repfacement <br />Sv�r�mming Fool EquiF <br />Swimmir� Pool Deck <br />Saff.it & Fascia Repla <br />Retaininp Wall Repla <br />ment <br />cement <br />cement <br />Sidewalk Replacement <br />Buildings Ext.erior Lighting <br />Swimmin Poal Furniture <br />Gutters & Downspouts <br />Periadic Landscape R�:furbishment <br />5form Sewer Replacement <br />*The Access La�e and Driveway funding includes projected expenditures far periodic chipcoating, periodic section <br />r�placemenfs, o�erlays at 20 years of age and reconstruction at 40 years of age. <br />Funding Requirements: <br />The reserve funding plan far future capital impro�ementlreplacement projects uses Cash Flow projections with the goal of <br />mainiaining a positive balan.ce in the reser�e fund accouni for the nezt 30 years. The initial month[y r�serve contribution <br />requirement is $130.19 per unit per month. Th.is is the minimum amount needed to m.eet the projected expenditures <br />and fulfill the mandates of state statute 515B.3-114 and the association's governing documents: This is $$4.19 per <br />unit per rr�anth abave the association's 2008109 budgeted rate. <br />Due to fluctu.ating interest rates, infEationary changes and ihe unpredictable nature of ihe lives of many of the assets, the <br />funding plan mu.st be u�dated routinely to maintain adequacy. We recommend updates at infervals of about 3 years. <br />Homeowner's Major Compor�ent Responsibilities: <br />The following major companents are nat included in the funding plan because they a.re the responsibility of the ind'rvidual <br />homeawners rather than the association: <br />Gara e Doors Court ard Doors Unif Ent Doors <br />Patio Doors Wir�dows Decks <br />Patios <br />Reserve Study Report Aftachments: <br />Thank yo , <br />`�,G bA>, s <br />�_.a_.,�., _ � ��.,��� •4iri <br />�.�--�+ <br />�*���' � MEM6ER OF � <br />L. Pettersen, RS x� �,� ,�� <br />P ident -�� CO�moI71U�I11�,� <br />