Presidents Report_Diane Exter_Issue 07_211222

Page 2

The New Clubhouse Vote:

be completed with furniture from the Clubhouse. Once the Certificate of Occupancy is obtained (all City permits have been submitted), the Pavilion will be used this season for catered events (out of the main clubhouse kitchen), meeting areas, card playing and other events if weather conditions re quire. The support trailers for food and beverage, ware washing, laundry, etc. will not be in place until after the first of the year. The current plan is to use existing venues – Sports Bar, Bistro 19, Golf Café, Pool Café and Beach Club – to stage the holiday events. The east parking lot, where employees park, has been converted to accommodate addi tional member parking (lost on the west side by the expansion of the Golf Café) and to stage con tractors for the erection of the Pavilion and the supporting trailers and facilities. When the Pavil ion is in full operation the east parking lot will be used for member parking. As a temporary meas ure, employees are parking on Tournament Drive. The golf maintenance area is being reconfigured to accommodate some of the employee parking needs. Frenchman ’ s Creek Drive and Rivoli Drive Paving: The back section of Frenchman ’ s Creek Drive (between the dog park and Toulouse Drive) is failing for a third time. The first two times were in 1993, upon turnover of the community from the developer, and in the summer of 2002, when ma jor repairs were made. This most recent roadway failing has developed just over the past few months since the end of the summer rainy season. A total of twenty borings were made of the roadway during the week of November 29 th . Jeff Trompeter of Civil Design Inc. (the civil engineer ing firm contracted for the new clubhouse) will re view the report and prepare a remediation plan for the roadway. Initial analysis indicates the road is failing due to a recurring high - water table. This section of roadway is in the lowest elevation in the community. Roadway repair to this section of Frenchman ’ s Creek Drive could range from total road replacement (removing 6 to 9 inches of as phalt and repairing the roadway base) to milling 2 to 4 inches of existing asphalt and re - asphalting same.

We had a very strong showing for the December 3 rd New Clubhouse vote with 516 of our community households voting and 385 (75%) voting to support the revised New Clubhouse plan . It is wonderful knowing that our community is so solidly in support of this plan. After the vote, the New Clubhouse Ad Hoc Committee moved quickly to finalize the various key professional contracts, which were then approved at our December 14 th Board meeting. Harvey Schulweis, Chair of the Committee, reported that the schematic de sign is expected to be completed by late Janu ary, at which point the design development drawings will be started. It is expected that the demolition of the existing clubhouse building will be started in late summer 2022. Construc tion documents should be completed in late fall, at which point they will go out for competi tive bidding. The current expectations are for the new clubhouse to be completed in late 2024. There will be challenges with re spect to labor costs, material costs, delivery times, etc. but the New Clubhouse Ad Hoc Committee and our professionals are all fo cused on bringing the project in on time and within our approved budget. The New Clubhouse $58mm loan agreement with Truist Bank was approved by the Board and is expected to be signed this week. The interest rate hedging has been completed and ratified by the Board. Based on current attractive hedging levels, the 20 year monthly member assessment will be $446/ month (vs. the $460 in the booklet). This monthly assessment will be charged starting in January 2022. The Alternative Facilities: Brett Handler, Chair of the Alternative Facilities Ad Hoc Committee, and Bernie Polselli, Assistant General Manager, provided an update to the Board on the progress of the alternative facilities. Everything is moving for ward. The Pavilion is up, and the interior will The New Clubhouse Project: Financing for the New Clubhouse: