PORTE COCHERE BROCHURE

Funding

At the Finance Committee meeting on February 17, 2016, the Committee, Chaired by Bill Gersten, unanimously recommended that this project be internally funded, subject to Board approval. Based on the forecasted capital fund balance for April 2017, plus the sea- sonal use of our line of credit over a 2 year period, this project can be accommodated with- out an assessment.

Board Recommendation

The Board has enthusiastically and unanimously endorsed this project and strongly recommends Membership approval. This upgrade is among the more important investments we will make in this club; one that Members will appreciate every day over the many years ahead. It addresses the invasive water seepage issue that has plagued the front of the Club- house for years. Furthermore, this project also addresses the fire safety issues that have been raised by the City and Fire Marshal. And, finally as the first impression of Frenchman’s Creek that prospective new Members will encounter, it is sure to become another selling point; an added “return on investment.”

Timeline

Membership Approval

April 9th

Sign Contract

April 15th

Start Demolition

Beginning of May

Project Completion

November

Clubhouse Projects—Page 10