PRESIDENT REPORT.ISSUE 3

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Real Estate Update: We closed out the fiscal year ending April 30, 2021, with a record 54 homes sold to new members; netting the Club close to $6M in additional Capital. There are al- ready five new member sales (2 closed and 3 pending) for this fiscal year ending April 30, 2022. Paycheck Protection Program (PPP): You may recall that last year, as a result of the pan- demic, we submitted an application with the Small Business Administration (SBA) under the CARES Act. After some challenges, our applica- tion was approved and we received the funds on May 13, 2020. After a final audit by the SBA, we are happy to report that on June 16, 2021, the principal of the loan and any unpaid interest was forgiven. LONG-TERM PROJECTS PLAN As reported in the May 14th President’s Re- port, the Board decided to accelerate two pro- jects in Frenchman’s Long-Term Projects Plan—roadway paving and the replacement of the landscape maintenance building; both are progressing as planned: Road Remediation: The Community has en- gaged All County Pavement Management Solu- tions to pave all the neighborhood roadways and repair the roadway cement gutters, exclud- ing Frenchman's Creek and Tournament Drives. The repair of the cement gutters will begin in July, and the milling and asphalt paving of the neighborhood roadways will start in early Au- gust. Civil Design Inc., a civil engineering firm, has been engaged as the Project Manager to oversee the paving project. The neighborhood roadway paving is an important community project that will include some short-term aggravations but give our com- munity long term value. Daily communication and coordination with residents and service pro- viders will be implemented to ensure that the paving project is successful with as little incon- venience to residents as possible. That is why the project is planned for July, August, and early September when we will have the fewest Mem- bers in residence. Be on the lookout for the POA emails which will estimate when the paver crews will be coming to your individual streets. Please keep in mind that rain can change the schedule.

Landscape Maintenance Area: The land- scape maintenance building is a 30+-year-old structure in need of total replacement. The building functions as working space and stor- age for the community’s landscape crews who maintain the POA homes, common areas and the golf courses. The staff is working with Insite Studio to prepare a site plan for the location of the new landscape building; provide for effi- cient workflow throughout the maintenance fa- cility, and add additional parking. Once a final site plan is approved, the project's cost can be calculated. Upon approval of the project, plans will be submitted to the City of Palm Beach Gardens to start construction in June 2022. POA MATTERS Community Irrigation System Update: Un- fortunately, the irrigation project has taken sev- eral months longer than planned due to numer- ous issues encountered with replacing a 35- year-old irrigation system. All homes on the community's central irrigation system are cur- rently being irrigated three times per week. Various irrigation issues around houses are being addressed, including areas of landscap- ing not fully covered by the irrigation system, clogged and broken irrigation heads, and re- placing grass and plants disturbed by the in- stallation of the new irrigation valve box. Project work that remains: valve box wir- ing on five roadways (that initially were not scheduled to be replaced) will be rewired and placed in conduit as a safeguard. Other work still to be done include the valve box replace- ments for the houses on Calais, Le Bateau, and LaPorte. In addition, Rhone Drive and Rhone Circle are being added to the central irrigation system. Underground boring to install irrigation piping on Rhone Drive and Circle has started. The valve boxes and related wiring in all other roadways in the community have been replaced. Treasure Coast Irrigation has added ex- tra crews and, anticipating afternoon weather delays, has committed to completing the irriga- tion project by August 15 th .