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HIA Survey Results (04/17/2007) - Page 2 of 2 • All respondents have a condominium/town home association with an operating budget. • Only one respondent had an operating budget insufficient to fund ongoing maintenance issues. • Seven of the nine associations have a reserve plan that includes long-range projections for common area improvements. Of those seven respondents, five would consider these reserve budgets adequate to fund long-term repairs and replacements. • Seven of the nine respondents have completed common area improvements within the last five years including improvements to the complex grounds and exterior and interior building improvements. • For future common area issues, respondents identified all the issues presented in the survey, including funding common area improvements, windows, siding, and roof replacement as well as parking lot improvements as equally important. 2.3 MN APA Survey • Twenty-three members of the MN APA responded to the email survey of which only three had created an HIA. Those communities that responded to the survey and have created an HIA included: St. Louis Park, Eagan, and Plymouth. • Comments from the three communities that used this tool were generally positive. 3.0 Conclusion Drawn from Survey 3.1 Based on the results of this survey, condominium and town home associations in Roseville are generally preparing themselves financially for future common area improvements. However, there may be associations that are less prepared for capital expenditure required for common area improvements and they potentially could petition the city or the HRA for the use of this financing tool. 3.2 As such, we do not anticipate that a considerable number of associations will petition the City to use the HIA as source of funding for common area improvements. Prepared by: Jamie Radel (651-792-7072) Kara Hoier (651-792-7078) Attachments: Survey Results