Final Booklet V1

PROJECTS PLAN LONG-TERM

LONG-TERM PROJECTS PLAN The Long-Term Projects Plan was prepared to address the capital expenditure needs of the Community beyond the clubhouse project. The Plan addresses the major capital expenditures for both the recreational facilities and the Community’s infrastructure over the next ten years, excluding the annual capital budget. The initial Plan identifies twelve major capital expenditures, over the next decade, totaling $37.2 million with three projected Membership assessments totaling $39,167 starting in 2023, the first of these assessments will be approximately $20,000. The largest annual funding source for these expenditures is the equity from new Member home sales. New Member home sales have been conservatively established at an annual average of eighteen per year of which eight are being reserved to repay the clubhouse project debt and five to fund the annual capital budget. If new Member homes sales exceed this net average theMembership assessment could be reduced; if home sales fall short of the net average, the Membership assessment could be higher. It should also be noted that the costs of these projects are conservatively estimated at today’s dollars. Of course, all future major projects, the timing of same, and the financing options would have to be approved by the Board of Governors and subsequently by the Community.

LONG TERM PROJECTS PLAN DEVELOPMENT

The Long-Term Projects Plan is a living document that will be updated annually in conjunction with the Community’s operating and capital budgets’ process. The projects to be undertaken, their timing, and the financing options to fund the projects will be left to future Boards to decide. 1. The Plan will provide a steady point of reference for taking future action. 2. The Plan will be framed around well-researched information and facts on existing conditions and trends, for the Board and management to better understand the impact of their decisions. 3. The Plan will promote predictability, describing where and what type of development the Community desires; and 4. The Plan will target resources and be used to prioritize which projects can be undertaken.

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