Final Booklet V1

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TABLE OF CONTENTS

A Letter from the President - Mr. Norman Barham.... A Letter from the Oversight Committee....................... New Clubhouse Presentation...................................... New Clubhouse Budget. ...................................... ...... New Clubhouse Renderings................................. ...... Substantial Renovation Presentation.................... ...... Substantial Renovation Budget. ........................... ...... Substantial Renovation Renderings...................... ...... Member Space Comparison ............................... ...... Temporary Facilities Plan . .................................... ...... Club Finacing for Proposed Projects ................... ...... Project Notes. ........................................................ ...... Long Term Projects Plan......................................... ......

Page 2 Page 3-4 Page 5-17 Page 18 Page 19-24 Page 25-35 Page 36 Page 37-42 Page 44-46 Page 47-49 Page 51-52 Page 54 Page 55-58

Please email your questions to clubhousequestions@frenchmanscreek.com or q@frenchmanscreek.com

PRESIDENT LETTER FROM THE

Dear Member,

I am pleased to present this brochure to the Membership. Its purpose is to assist you in making a fully informed comparison between a new clubhouse and a substantially renovated one, based on facts rather than partial or incorrect information or hearsay. I truly hope that Members will study the proposals for each plan and make their own decision. This is why I have stressed during this process that we want the decision to be based on an “apples to apples” comparison of two worthy plans, not a competition. The Board and Oversight Committee have worked diligently to achieve this goal. We will also offer a third option: do nothing but essential repairs and upgrades to keep the Clubhouse functioning. The brochure not only contains the floor plan design elements of each choice, but also the financial aspects including: In addition, the brochure provides a copy and explanation of the Long-Term Projects Plan, which contain the projects determined as necessary to meet our future needs over the next decade. Included are estimated costs, timing, sources of funding and possible assessments. Again, we hope that you will carefully review the options and select the one with which you are most comfortable. Any remaining questions you may have can be addressed at the Town Hall Meeting, Thursday, February 4, 2021, 2:30 P.M. and Friday, February 5, 2021, 2:30 P.M., which will be conducted after you have had time to review the brochure. Whichever one you select, I am confident that Frenchman’s Creek will continue to be that special place that we choose to live in. 1. 2. 3. The total project cost. The amount of debt. The monthly payment that will be required.

Sincerely,

Norman Barham, President

OVERSIGHT COMMITTEE LETTER FROM THE

Dear Fellow Members,

Our Oversight Committee has been charged with shepherding the clubhouse project to a Member vote. The Board established several aspects of the process to be an “apples to apples” comparison of both projects. After many months of work from various committees, we are presenting two options for our clubhouse - a New Clubhouse or a Substantial Renovation. Members will have the option of voting for neither project. This option would leave the clubhouse essentially as is, subject to those repairs, maintenance and modifications that the Board determines will be necessary to protect the health and welfare of the Members and Staff, and maintain Frenchman’s Creek quality standards. It is acknowledged that these much-needed repairs, maintenance and modifications will be expensive and may, therefore, require significant borrowings and/or assessments. The Board strongly recommends that Members not choose the “neither” option. The Board unanimously recommends thatMembers choose either theNewClubhouse or the Substantial Renovation option. Wewould like to take this opportunity to thank all of theMembers who participated in the various committees to get us to this point. Many hours have been spent in meetings, working with our professionals and management to flesh out the various aspects of both plans. Our professionals and management have been dedicated to these efforts and their insight has been invaluable. The attached information packet incorporates floor plans of both designs as well as illustrative renderings of how our Member spaces may look. These are not the final design, but both projects will have a similar look and the same level of finishes and decoration. Also enclosed are budget estimates for the construction costs, financing plans, temporary facilities plans, space comparisons and presentations from the New Clubhouse and Substantial Renovation committees advocating their plans and attributes. In addition, we have included the Long Term Projects Plan that identifies and estimates the costs and sources of funds for major projects currently planned over the next decade. The intention of this effort is to present the two options as fairly and comprehensively as possible. It is not intended to be a competition but a comparison of two good plans. We have endeavored to make this an “apples to apples” effort. The committees utilized the same architect (Peacock and Lewis), owners rep (Gaudet Associates), pre-construction contractor (Proctor Inc.) and site planners and landscape architects (Insite Studio). Collectively, they have developed estimated budgets for both projects utilizing their market experience and current conditions. Proctor has done a room by room analysis with over 150 pages of detail for both projects to arrive at their estimates. We believe their analysis and estimates are reasonable for our project at this stage of development. Once an option is chosen, biddable construction documents will be prepared and a competitive bidding process will commence. Both projects will insure a quality facility for our use for the next twenty years and beyond.

The New Clubhouse project is budgeted at $56.3 million and the Substantial Renovation project is budgeted at $39.9 million. The Board Financing Committee has negotiated, and the Board has approved a 15-year reducing revolver proposal from Truist Bank to fund whichever project is approved by the Membership. The interest rate would be libor plus 120bp and fully hedged at an all-in rate of approximately 2.5%/year for the full 15 years. With this financing the monthly Member assessment for the New Clubhouse is projected to be approximately $424/month and the monthly assessment for the Substantial Renovation is projected to be approximately $249/month. In addition to the monthly Member assessments, the loan will also be repaid with the proceeds of 8 home turns/year. We have also created an email address for you to send questions you may have. We would use these as a guide for our Q&A Town Hall Meeting and would try to answer all of the questions, either at the meeting or in an email response. Please email your questions to clubhousequestions@frenchmanscreek.com. Much work remains to be done, but the first step is for our Community to choose between the New Clubhouse or the Substantial Renovation plan based on the information that is presented in this booklet and the various presentations you will receive. The Floor and Site Plans for both projects are included as separate exhibits.

Oversight Committee Michael Azeez

Diane Exter Jeff Stanfield

NEW CLUBHOUSE PRESENTATION

NEW CLUBHOUSE SUBCOMMITTEE MESSAGE FROM THE

Dear Frenchman’s Creek Members, We are pleased to present the New Clubhouse Subcommittee Presentation discussion points for your review. We look forward to bringing to fruition this beautiful and newstate-of- the-art clubhouse for the long-termbenefit of our entire community.

By far our biggest motivation for this project is to preserve the “second to none” culture that has exemplifiedFrenchman’sCreeksince its inception and that, candidly, is the major reason that all of us live here. This culture is evidenced not only through our facilities but through our world class management and the care and service they give, and we receive, every day. Indeed, our fervent wish is that we ultimately have a New Clubhouse facility to bring our most utilized physical asset in

“…our fervent wish is that we ultimately have a New Clubhouse facility to bring our most utilized physical asset in line with the unbelievable level of service that we are blessed with.”

line with the unbelievable level of service that we are blessed with. The New Clubhouse facility makes this wonderful goal achievable. It is important to note that many of us on the New Clubhouse Subcommittee began our journey last year supporting the original renovation project. We did so at the time because that was the only choice that was under consideration to stave off the downward trajectory of the current building. However, once we were charged by the Board with the responsibility to vet a new clubhouse, it became abundantly clear to us that a New Clubhouse was the intelligent choice and the right thing to do for the future of Frenchman’s Creek. This is not a time to cut corners . We simply do not believe that another renovation, in a long series of renovations and additions, makes sense. We base this belief on: • the challenged state of the current clubhouse, • the current clubhouse’s permanent deficiencies, and • the health, aesthetic, functional, and lifestyle advantages that a New Clubhouse offers the community. For your consideration: What is our future? What is our brand? What is the right investment for the intergenerational needs of our community? What is the right thing to do for the future of Frenchman’s Creek? Thank you for your interest and your support and please do not hesitate to reach out to any of us with any questions or feedback.

THE NEW CLUBHOUSE SUBCOMMITTEE Herb Selzer, Chairman Brett Handler Cary Luskin Jonathan Mayblum

Krista Nicklaus David Rosenblatt Bob Scherer

NEW CLUBHOUSE PRESENTATION

NEW CLUBHOUSE DESIGN – EXECUTIVE SUMMARY

The New Clubhouse we are presenting for your consideration is the result of an extended vetting and design process lead by Peacock and Lewis and based a great deal on feedback gathered through Member surveys, focus groups and discussions. Special thanks as well to the Frenchman’s Creek Management Team for providing valuable input and ideas.

• The NEW Clubhouse will not just appear new…it will be new. It will be sited, elevated, and secured with 100% state-of-the-art structures, systems, and technologies. It will be 100% warrantied, 100% to code, and carry a 170-mph high wind rating. And it will not be saddled with the many deficiencies of the current clubhouse forever.

“We believe a New Clubhouse is the better investment and the right thing to do for the future of Frenchman’s Creek.”

Given these small differences in cost, given the risks of another renovation, given that a New Clubhouse will be a much safer, secure, and longer lasting structure, and given the health, aesthetic, and lifestyle advantages that it provides…. A New Clubhouse is the better investment and the right thing to do for the future of Frenchman’s Creek. • The $2,000 per year difference between a New Clubhouse and a renovation, reduced by operating efficiencies and maintenance costs, is less than 2% of the yearly cost of maintaining a home at Frenchman’s Creek. The maximum total cost differential of $30,000 per Member, over the entire 15 year assessment period, is only about 2% of the average home value. • The NEWClubhouse is designed so that all Member, dining, and functional spaces will have at least as much overall capacity and usable space as the current or renovated clubhouse with a much more efficient flow. • The NEW Clubhouse that we will live in, dine in, play in, and even work in, will be an attractive space that maximizes natural light and fresh air, promoting a healthy, productive, and interactive environment for both Members and staff alike. • The NEW Clubhouse will be an adaptable, flexible and sustainable facility that will serve the Frenchman’s Creek community well into the future. It will have a longer useful life than the renovation.

FINANCIAL CONSIDERATIONS

• This is a sizeable investment, nomatter which project is chosen. It is an important choice - it sets the course for our future. • The projected capital investment for the New Clubhouse is about $56 million. The projected upfront renovation cost is about $40 million. • Current interest rates make it extremely attractive to finance projects. Under the financing package negotiated, there is only a $175/month incremental difference between the two projects. That equates to little more than $2,000 per year over 15 years. • However, these numbers clearly overstate the cost difference because they do not account for the following critical factors: • Substantial operating efficiencies of a new building • Higher maintenance costs for the larger, older renovated building. • Some funds need to be set aside for space not being renovated. • While it is difficult to supply a specific number, based on the work of Management, through a combination of operational, utility and maintenance cost reductions, savings for the New Clubhouse could be substantial. • For Context: The $2,000 per year difference between a New Clubhouse and a renovation, reduced by operating efficiencies and maintenance costs, is less than 2% of the yearly cost of maintaining a home at Frenchman’s Creek. • For Context: The maximum total cost differential of $30,000 per Member, over the entire 15 year assessment period, is only about 2% of the average home value at Frenchman’s Creek.

By any measure, the $2,000/year incremental cost for a New Clubhouse is a modest investment for such a substantial difference in the quality of the facility.

The most important payback on the investment in a New Clubhouse will be the substantive health, aesthetic, and lifestyle advantages that it offers our Members.

NEW CLUBHOUSE PRESENTATION

SPACE CONSIDERATIONS

• The New Clubhouse was designed to be a more efficient building and contains more useable space and increased seating capacity even though it is approximately 9 % smaller than the current building. • As a result of many additions and renovations, it should come as no surprise that the current clubhouse has thousands of square feet of wasted space including a maze of hallways, transition areas between additions, 72 internal columns that interfere with usable space, underutilized locker areas and 5 kitchens. • So, with a smaller, more efficient footprint, the New Clubhouse can not only have a greater overall seating capacity for dining and card playing but also add necessary functional space such as a considerably larger POA area, an expanded Board Room, significantly expanded restroom facilities for Members and we can introduce 4 new restrooms for staff. • The New Clubhouse provides almost twice as much of highly desirable outdoor covered space for dining, card playing and pre-function activities. And our Sports Bar will have a permanent roof for Members to enjoy regardless of the weather. • Once again, another renovation plan would add about 20,000 square feet onto an already large inefficient facility. Included in this 20,000 square feet is 6,862 square feet in additional covered outdoor walkways, and 7,300 square feet of uncovered West-facing terrace. More space is not the answer…better space is!

“More space is not the answer…better space is!”

NEW CLUBHOUSE DESIGN STATED MANDATES / RESULTS

The New Clubhouse building design was driven by four essential mandates:

MANDATE ONE: To deliver a building where all Member, dining and functional spaces have at least as much capacity and/or size as the current clubhouse building. • The New Clubhouse design meets or exceeds expectations in virtually every room and the result is a more efficient building with more usable and flexible space then we currently have. • Program mandates are achievable without adding space to an already large facility. More space isn’t the answer. Better space is. • With a smaller footprint, the New Clubhouse will have greater dining capacity and more outdoor space. • The floor plan will have a very easy, intuitive and efficient flow with no wasted space. • Storage areas will have an actual nexus to the venues they serve making for a more efficient operation. • We will have a built to spec, modern kitchen facility,withacentral commissary, that can more capably service all the clubhouse dining venues in an efficient, effective and coordinated fashion. • Gone are the maze of hallways, wasted spaces and columns, needless transition areas between additions, oversized and underutilized locker areas, 5 different kitchens and 48 external doors.

MANDATE TWO: That the clubhouse we live in, dine in, play in and even work in, should be an attractive space filled with natural light and fresh air promoting a healthy, productive and interactive environment. • The result is a spectacular two-story rectangular building in which virtually every room, including the ballroom, all dining venues, card rooms, pre-function areas, the POA space, Golf Shop, Kid’s Creek and the Board Room are all along the building’s exterior, offering everyone windows and views. • Our ballroomwill now have unobstructed vistas of our beautiful property both east and south. • All Member rooms will have beautiful views and contiguous covered outdoor seating areas maximizing both natural light and fresh air. • OurPOAofficeswill nowhavea first class, attractive and productive work setting commensurate with the enormous effort these folks put forth everyday. • Higher ceilings, modern glass and two large cupolas will enhance ambiance and feel throughout. • It will have a grand, elegant presence, curb appeal and a stronger arrival sequence that are more in keeping with Frenchman’s Creek’s premier status. • Every daytime activity is off the main gallery hall, which will allow for greater community interaction. • Gone are the blocked views, projection screens, lower ceilings, dark areas, and underground spaces.

Let’s preserve our ‘second to none’ culture.

NEW CLUBHOUSE PRESENTATION

MANDATE THREE: To design an adaptable and sustainable New Clubhouse that can serve the Frenchman’s Creek community well into the future. • The New Clubhouse has been designed to be incredibly flexible. The ballroom, the 19th hole and the women’s card suite can be divided intomany combinations of various sized and soundproofed spaces to accommodate a variety of functions, meetings, lectures, performances, and dining experiences. • The New Clubhouse will be elevated at least 2 feet to enhance views, solve our current drainage issues, provide for better plumbing and sewage flows, and possibly mitigate threats from climate change. • Taking full advantage of advances in glass technology developed over the last 10-15 years, the New Clubhouse will provide natural light virtually everywhere. This will provide health benefits to our Members and staff along with minimizing energy consumption. • The New Clubhouse will allow for significant operating and energy efficiencies. • The New Clubhouse will be built to Florida standards for energy efficiency and design.

MANDATE FOUR: To design a NEW Clubhouse with all the attendant advantages only NEW designs can offer: • It will be sited, elevated and secured with 100% state-of-the-art structures, systems, and technologies. • It will be 100% built to the newest building codes. • It will carry 100% new construction warranties. • It will have a 170-mph wind rating for the entire structure which will include a structural concrete roof. • By elevating the building at least two feet, it will address our existing drainage issues, eliminate reliance on mechanical pumps, provide better sewage flow, protect against floods and enhance views. • It will not just “appear” new… it will be new; with modern architectural, structural and design elements. • It will use modern glass technologies to maximize our healthy exposure to natural light. • It will have significantly less ongoing maintenance costs than the current building. • It will have a longer useful life. • And, with a clean slate, we can design for what we want rather than be constrained by what we have.

• 100% to newest codes • 100% warrantied • 170 mph wind rating • Elevated 2.5 feet

NEW CLUBHOUSE DESIGN SPACES AND AMENITIES

• Pre-function foyer/living room: Will be a beautiful room with a variety of intimate seating arrangements, a large cupola and expansive southern views overlooking 9 south that can be enjoyed with a large area of covered outdoor seating separated from the inside by a set of nano doors. With the Ballroom on the left and the Grille Room on the right it will be a great place for pre- or post- dinner cocktails and conversation. • Grille Room/Sports Bar Living Room: Will serve as a second pre- dining gathering space serviced by a separate elevator and internal staircase as part of the long sought-after solution to congestion and convergence in our current clubhouse entrance area. • Ballroom/Main Dining Room: Will be a state-of-the-art venue with sweeping views both east and south, covered outdoor space, much more natural light and the flexibility to be divided into 6 different soundproof rooms for dining or conference use. There are 4 convenient serving locations from the kitchen. • Grille Room: Will have spacious views to the south, covered outdoor space, a beautiful display kitchen and an impressive wine wall. An intimate private dining room for parties of 12-16 is a new Member amenity. • 19th hole: The orientation will position the entire venue with beautiful views out toward 9 south. It will have covered outdoor seating both under permanent roof as well as additional patio seating that can be open to the stars or covered by a retractable awning. Another new feature will be an indoor/outdoor bar. This is likely to become our most active dining venue. • Sports Bar: Will retain the vivacious ambiance and open-air experience that we have all come to enjoy. The new

Sports Bar will have a permanent roof and a beautiful cupola that will enable Members to enjoy the covered outdoor venue in any weather. Beautiful southern and western views. • Restrooms: More, larger, upgraded and conveniently located facilities for Members on both floors. We will also introduce two facilities for staff in the kitchen and two in the POA. Presently there are none • Women’s Card Suite: Will provide 60% more seating than currently. The two rooms can open to have unlimited flexibility for larger events. There will be an attendant between rooms. Expansive southern views with large areas of covered outdoor seating to spread out. • Men’s Card Room: Will also have 60% more seating capacity and a much nicer space than currently along the southern exterior of the building and next to the women’s card suite. Expansive southern views with large areas of covered outdoor seating to spread out. • POA Offices: Will be upgraded and expanded with windows and northern and western views. This will provide a first class, attractive and productive work setting more commensurate with the enormous effort these folks put forth everyday. It will allow full command and control of the front of the building and a private access hallway directly into the lobby.

The new clubhouse was designed to maximize exposure to natural light and fresh air

NEW CLUBHOUSE PRESENTATION

advise on the final design, spacing, equipment, etc. We have plenty of space and flexibility to execute on this advice in the final plans. • The result will be an efficient, well coordinated and fully capable facility delivering the finest quality food and beverage experience. • Meeting and Event Spaces - endless possibilities: • We will have more meeting space with greater flexibility than we have now. Our new facility will include an enlarged boardroom off the front lobby foyer with windows, two additional dedicated meeting rooms off the main galley and an upstairs private dining/meeting room. HR and POA will have their own dedicated meeting spaces. • Our impressive state-of-the-art main ballroom facility can be divided into 6 separate soundproof and highly serviceable meeting and/or dining facilities. • Both the 19th hole and the women’s card suite will have flexible soundproof wall systems offering unique adaptability for larger or smaller events. • The possibilities are endless.

• Locker Rooms: The wet areas and facilities will be expanded. The locker areas and lockers will be more appropriately sized to eliminate wasted space while providing the necessary combination of lockers tomeet the needs of a modern residential community. • Kid’s Creek: Conveniently located off the main galley on the way to the fitness center, tennis and pool. Near the specialty “to-go” venue. South views with outdoor covered seating. • Specialty “to-go” Venue: On the southeast corner near the fitness building. (New concept venue: TBD - Starbucks, juices, smoothies, healthy alternatives). • Theater: State-of-the-art and steps away from all the dining venues. • Cart Barn: This was relocated away from the normally hectic, congested and valuable Member space near the golf shop and moved toward the range area. • Kitchen Facility - new, modern, coordinated, capable, efficient: • The new kitchen facility has been designed along the entire upstairs north wall with a central commissary serving three finishing kitchens all at the upper level. It is the gold star of efficiency. This allows for staff to move quickly within the area and have all services, functions, and storage in one place. This can operate as one full kitchen, or three kitchens separated by one-hour fire doors, if necessary (e.g., Covid-19). • The 19th hole and Sports Bar will share a finishing kitchen with a prep kitchen/action station in the 19th hole. • Frenchman’s Creek Management Team helped to design the stacked, coordinated 19th hole/sports bar casual dining concept. • A kitchen consultant will help

Our POA offices will now have a first class, attractive and productive work setting commensurate with the enormous effort these folks put forth every day.

FREQUENTLY ASKED QUESTIONS

Can you discuss the decision to design a two-story building with the entry on the 1st floor? Peacock and Lewis, one of the country’s leading clubhouse designers, strongly advocated for this design. They advised that new clubhouses, especially in Florida, are all being built totally above ground. The reasons, according to our architect, include: • Structural: It avoids insidious moisture issues. • Aesthetics: It results in a more beautiful, more enjoyable and more productive environment where virtually every room has windows, views and tons of natural light. • Health: Natural light has significant health benefits and modern facilities are built to allow it in as much as possible. • Curb appeal: It will have a grand, elegant presence both front and back. • Functional: It allows for the entire first floor clubhouse corridor to be directly connected with how we live, play and even work during our entire daylight hours. Every daytime activity and function, including breakfast, lunch, fitness, spa, cards, locker rooms, golf, tennis, pickleball, POA, Kinkos, and even Board and committee meetings, etc. will be directly accessible by either cart or car and whether rain or shine. It will indeed be the “community level” encouraging Member interaction at every step. • Convergence/Congestion Issues: The design separates daily from evening as well as formal from informal activities. It solves for the current lack of separation between pre-function activities and general clubhouse entry. It also allows for separation of pre- function Ballroom activities from those needing to access The Grille Room

and Sports Bar. Importantly, it provides direct covered access to all our dining venues, notably including the Sports Bar. • Accessibility: There are several options to shuttle between floors: 3 higher volume, higher speed elevators and multiple internal and external staircases. Yes, there will be some minor queuing at the upstairs elevators after a few large events. Currently there is queuing at the valet area. These logistics were netted against the overwhelming positives of the building design. Is the New Clubhouse large enough? Was it designed to fit a budget? • TheNewClubhousewas NOTdesigned to meet a budget, it WAS designed to a meet a Program. Our major mandate to Peacock and Lewis was to deliver at least as much seating capacity and usable space both overall and in each of the Member dining venues, card rooms, living and pre-function areas as well as the spaces for our management, staff and POA functions. In many cases the design exceeded these expectations and, of course, did so in much more beautiful spaces with views. • We eliminated significant wasted space that was consumed by a maze of hallways, outside covered walkways, 72 internal columns, multiple disconnected kitchens, needless locker room space, and transitions between previous additions. The result is an effective, efficient building with more usable space where it counts.

Designed and planned for all our personnel to have a better working environment.

NEW CLUBHOUSE PRESENTATION

Will the cost of a New Clubhouse impede our ability to do other future capital projects? • No, there is nothing to suggest that at all. Let’s put the numbers into context: • The $2,000 per year difference between a New Clubhouse and a renovation, reduced by operating efficiencies and maintenance costs, is less than 2% of the yearly cost of maintaining a home at Frenchman’s. • The maximum total cost differential of $30,000 per Member, over the entire 15 year assessment period, is only about 2% of the average home value at Frenchman’s Creek. • We simply don’t believe that these small differences are the “straws that break the camel’s back” for our projects. • The Long-Term Projects Plan details $37 million of additional forecasted projects that need to be funded over the next decade to enhance and maintain our physical plant. The plan is, and has always been, to fund these projects through a combination of annual capital funding, new home sales and modest Member assessments… regardless of the clubhouse project chosen. Can you address the question being asked by some about the fire readiness of the New Clubhouse building? • Both projects will be built to the strict government regulations, fire codes and standards that are in effect today. Both will be well thought out and safe. • Since every Member venue is located along the exterior of the building, the New Clubhouse offers shorter access to the outside of the building than currently. Getting outside is the first key in any fire. • The New Clubhouse hallways are simple, intuitive and easy to navigate in an emergency. Compare that to the

maze of hallways today. • The main kitchen in the current building is in the interior of the 2nd floor which could impede egress through the front of the building in the event of a kitchen fire. The kitchen in the New Clubhouse is located entirely along the north wall of the 2nd floor, totally on the opposite side of the dining venues and the easy egress to the outside. • Finally, we would add that compared to today’s building, the New Clubhouse will have all new finishes with much lower flame spread characteristics and much more advanced and sensitive fire alarm systems. What are the projected build times for each project? • New Clubhouse: 20-24 months. • Renovation: 16-20 months Will each project require a temporary facility? • Yes

It’s not a 5 year decision, it’s a 30-year investment in our future.

WHY WE SUPPORT A NEW CLUBHOUSE An important driving force behind our advocacy for a New Clubhouse is that we simply do not think that it makes sense to invest over $40 million into a 32-year-old building that has a growing list of structural, health and aesthetic issues. Some issues can be addressed in the renovation, some can be monitored, but some cannot be altered at all:

• Some things can’t be “updated” or “modernized”. The clubhouse is 32 years old. Exterior spaces have become interior spaces creating awkward transition areas and blocked views. It has lower ceilings, smaller windows, a maze of hallways, 72 internal columns, and 48 external doors. Neither the POA nor the kitchens have windows or bathrooms. • Half the first floor is underground. Our ballroom has blocked views that will forever diminish its ambiance and appeal. • These deficiencies also deprive Members and staff of the significant health, sustainability, and productivity benefits that maximizing exposure to natural light provides. Natural light is a point of design emphasis in the New Clubhouse. • It has a history of drainage, moisture, odor and mold issues. We have been told we can successfully resolve these issues. Is it really worth the risk?

• A renovated building will not be as safe as a New Clubhouse against extremely high winds. Climate change is an existential threat, and it would be irresponsible to turn a blind eye to its implications. • The renovation is adding more space onto an already very large, inefficient facility. More space is not the answer. Better space is. • This clubhouse has already seen many renovations and additions. They have, as we know, had their share of issues. • It is a “substantial” renovation, but not a full one. There are areas left untouched and “lightly touched”. Ultimately these spaces will need to be done. • A renovated building will likely cost considerably more to maintain and will have fewer operating efficiencies. This is not a 5-year decision… it is a 30-year investment in our future. A renovation is an unnecessary and undesirable compromise. We believe a New Clubhouse is the right choice.

A renovation is an unnecessary and undesirable compromise.

NEW CLUBHOUSE PRESENTATION

NEW CLUBHOUSE BUDGET

Frenchmans Creek CC -Vote Budget New Clubhouse

Projected Estimated Budget

PROFESSIONALS FEES

New Clubhouse Comments

1 Architect, Schematics/Design Dev.

$ 2,032,120 $ 135,000 $ 75,000 $ 40,000 $ 15,000 $ 338,687 $ 75,000 $ 500,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 5,000 $ 35,000 $ 85,000 $ 50,000 $ 50,000 $ 338,687

Per P+L Estimate 6%-8% (Carrying 6%) Estimate from CDI Estimate from Insite Studio Estimate from CBI Estimate based on Landscape cost Per P+L Estimate 2%-3% (Carrying 1%)

2 Civil Engineering

3 Landscape/Hardscape Design

4 Food Service Design

5 Landscape Irrigation Design

6 Interior Design 7 Land Planner

Estimate from Insite Studio 22 month Estimate for New

8 Owner's Representative/Project Management

9 Acoustical Consultant 10 Lighting Consultant

11 Misc. Consultant

12 Surveyor

13 Asbestos Consultant Survey 14 Low Voltage Consultant 15 Pre Construction advisor

Required by Law

Contract w/Proctor Construction

16 Legal Expense

17 Additional Professional Fees - Expenses

18 Bank Financing Expenses

Don’t have cost yet? Need Bank info, plug 1% 1% of Construction cost in Hardcost

19 Preformance Bond

PROFESSIONALS FEES SubTotal

$ 3,874,493

INSPECTION/TESTING 18 Construction Materials Testing 19 Threshold/Private Inspector/Plans

$ 100,000 $ 50,000 $ 15,000 $ 165,000

20 GeoTech

INSPECTION/TESTING SubTotal

CITY/COUNTY & MISC.

21 Permit Fees 22 Utility Fees

$ 675,000 $ 500,000

PBG BLDG Dept., P&Z,etc. Need more detail of scope (Fire, water,sewer)

CITY/COUNTY & MISC. SubTotal

$ 1,175,000

OWNER PURCHASED

53,558sf of Member Space (member indoor/outdoor space and admin areas) Estimate based on similar size projects Estimate based on similar size projects Includes Prvacy Wall for Loading Area Budget in Hardcost Estimated budget for all new equipment Estimated budget for all new equipment Revised per Information given by Admin. Staff

23 FFE

$ 4,582,000

24 Phones, Computers, POS Hardware,Av,Data,TVs

$ 1,000,000 $ 125,000 $ 1,250,000 $ 2,000,000 $ 250,000 $ 280,000 $ 9,487,000 $ 32,863,103 $ 1,005,561 $ 33,868,664 $ 48,570,157 $ -

25 Golf/Tennis Pro Shop fixtures 26 Landscape/Irrigation/Lighting 27 Landscape/Hardscape (Pavers)

28 Kitchen Equipment 29 Laundry Equipment 30 Builder's Risk Insurance

OWNER PURCHASED SubTotal

Hard Construction Costs 31 General Contractor Building Cost

Added additonal cost for Dining Life Safety Ramp 3,000sf per Committee

32 Freestanding Cartbarn

Hard Construction Cost SubTotal

Total Cost SubTotal

33 Contractor Contingency % 34 Owner/Design Contingency %

$ 1,016,060 $ 1,457,105

Recommend 3% Recommend 3%

Total Direct Project Cost

$ 51,043,322

35 Sitework & New Parking

$ 4,398,897 $ 850,000

3 New TC & 8 New Pickleball Courts Tents, Pro Shop, etc…(Budget from committee)

36 Temp Facilites

$ 56,292,219

Total Project Cost w/Site & Temp Facilites

NEW CLUBHOUSE

Front Elevation

Exterior - Sports Bar/19th Hole