RenovationPROJECT_FINAL

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 this “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.

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