cherry creek townhomes

Cherry Creek Townhomes

Reserve Study Update Project No. 19003

Prepared for Cherry Creek Townhome Association

Denver, Colorado

Prepared byBorne Consulting

PO Box 3890Parker, Colorado 80134

August 26, 2019

TABLE OF CONTENTSCherry Creek Townhomes

Introduction 1Detail Report by Category 3Annual Expenditure Spread Sheet 45Annual Expenditure Detail 53Preliminary Reserve Study Summary 60Preliminary Reserve Study Projection Graph 61Preliminary Reserve Study Projection 62

Borne ConsultingPAGE 1

Borne Consulting

IntroductionBorne Consulting has been commissioned by Cherry Creek Townhome Association to prepare a Reserve Study update. The purpose of this Reserve Study is to evaluate the common-area components for major repair, maintenance and replacement that are the responsibility of the Association. This Study provides a limited-scope evaluation of the existing condition and remaining life of the common-area components. The Study also includes estimated costs for the major repair, maintenance and/or replacement of the items to enable the Association to establish an adequate level of reserve funds for the upkeep of the property. Major repair, maintenance and/or replacement items are defined as anything that costs over $1,000.

Community DescriptionCherry Creek Townhome Association consists of 60 buildings that house 240 townhome- style residences. The Association maintenance responsibilities include: exterior building envelope and roofs, individual decks, balconies and patios, exterior building lights, pathway lights, mechanical equipment, attached garages, sidewalks, streets and drives, pool and associated mechanical equipment within pool building, landscape and irrigation. The community was constructed in 1973.

ApproachTo prepare this Reserve Study Projection, Borne Consulting has completed the necessary research, the component report, the cost estimates, the financial projections, and the projection interpretation.The projections were assembled using the cash flow method. This method develops a reserve funding plan where contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund. Different reserve funding plans are tested against the anticipated schedule of reserve expenses until a desired funding program is achieved.

Reference MaterialThe following references were provided to Borne Consulting for this Reserve Study by the client:

2019 budget

ExclusionsItems not included in this Projection Update are:

Non- common area components. Association components that have estimated costs below the reserve component threshold

amount of $1,000. Long lasting items with estimated economic lives exceeding 30 years, such as sanitary sewers

or building structural components. However, these items are included if they are known to have a fairly predictable anticipated useful life that falls within the term of the Study.

Normal operating items, i.e., taxes, insurance, snow plowing, utilities, cleaning and landscape maintenance, etc.


DisclaimerThis Reserve Study was prepared specifically for Cherry Creek Townhome Association. The information contained within this document has been assembled in conjunction with the client and is intended to assist the client with its reserve planning and funding. Borne Consulting does not guarantee, either explicitly or implied, that all repair and replacement items have been identified, the accuracy of the probable costs or the component lives.

In providing the opinions of probable replacement costs, the client understands that Borne Consulting has no control over costs or the price of labor, equipment or materials, or over the contractor’s method of pricing, and that the opinions of probable replacement costs provided herein are made on the basis of Borne Consulting’s qualifications and experience. Borne Consulting makes no warranty, expressed or implied, as to the accuracy of such opinions as compared to actual bid or construction costs.

All comments made are based on conditions seen at the time of the site visit. We do not accept any responsibility for unknown or unknowable conditions within the existing site or structures.

Cherry Creek TownhomesRA Detail Report by Category


Regrade - 2022Asset ID A03.1

Topography and GradingSite Drainage

Placed in Service October 1973Useful Life 6

Adjustment 43Replacement Year 2022

Remaining Life 3

1 UT @ $6,000.00Asset Cost $6,000.00

Percent Replacement 100%Future Cost $6,556.36

Description: Site drainage.

Condition: Some landscape areas adjacent to buildings have a flat slope or slope toward building.

Action(s):⦁ Regrade areas adjacent to buildings every 6 years, as required, starting in 2022.

Site Drainage - Total Current Cost $6,000



Crackfill - 2019Asset ID B01.3

PavingAsphalt Streets and Parking Areas



Remaining Life 0

1 UT @ $3,000.00Asset Cost $3,000.00


Description: Asphalt Streets and Parking Areas.

Condition: There are some of the drives and parking areas that have received a recent overlay and some patches have been placed. There are some severe potholes in the west drive parallel to Yosemite Street. Due to the age of the pavement, there is random cracking throughout the community, specifically in the North/South drives.

Action(s):⦁ Crack fill the newer pavement to maintain the pavement starting in 2019.

Mill and Overlay - 2022Asset ID B01.4




Remaining Life 3

13,170 SF @ $2.20Asset Cost $28,974.00




Mill and Overlay continued...


Condition: There are some of the drives and parking areas that have received a recent overlay and some patches have been placed. There are some severe potholes in the west drive parallel to Yosemite Street. Due to the age of the pavement, there is random cracking throughout the community.The north/south drives that provide vehicular access to the resident garages should have higher priority and are in the worse conditions vs. the east/west parking lots on the south and north sides of the property.

Action(s):⦁ North/south drives including mill and overlay with 2" asphalt the 2nd and 5th

installing a 3' concrete drain pan in each drive. This work is to be done in 2022.





Remaining Life 4

20,860 SF @ $2.20Asset Cost $45,892.00







Action(s):⦁ Mill and overlay with 2" asphalt the 6th drive (east) Incl 3' concrete drain pan for 6th

drive (far east drive).





Remaining Life 5

15,190 SF @ $2.20Asset Cost $33,418.00







Action(s):⦁ Mill and overlay with 2" asphalt in 2 east/west parking lots (north & south lots).

Remove and replace pavement sections - 2019

Asset ID B01.1Paving

Asphalt Streets and Parking AreasPlaced in Service October 1973

Useful Life 1Adjustment 42

Replacement Year 2019Remaining Life 0

7,500 SF @ $4.00Asset Cost $30,000.00




Remove and replace pavement sections continued...


Condition: There are some of the drives and parking areas that have received a recent overlay and some patches have been placed. There are some severe potholes in the west drive parallel to Yosemite Street. Due to the age of the pavement, there is random cracking throughout the community.

Action(s):⦁ Remove & replace existing deteriorated pavement in 2019 with 4" full depth patch at

specified areas throughout the community.

Asphalt Streets and Parking Areas - Total Current Cost $141,284



Replace damaged section - 2024Asset ID C01.1

FlatworkConcrete Walkways



Remaining Life 5

18,100 SF @ $10.00Asset Cost $5,430.00


Description: Concrete walkways.

Condition: Good condition.

Action(s):⦁ Remove & replace damaged sections of the concrete walkways starting in 2024.

Concrete Walkways - Total Current Cost $5,430



Replace damaged sections - 2024Asset ID C02.1

FlatworkConcrete Porches



Remaining Life 5

4,500 SF @ $22.00Asset Cost $3,960.00


Description: Concrete porches.

Condition: Good to fair condition.

Action(s):⦁ Remove & replace damaged sections of the concrete porch stoops starting in 2024.

Concrete Porches - Total Current Cost $3,960




FlatworkConcrete Drain Pans



Remaining Life 3

1,152 LF @ $15.00Asset Cost $5,184.00


Description: Concrete drain pan to 2nd and 5th N/S drive.


Action(s):⦁ Remove & replace damaged sections of the concrete drain pans starting in 2022.


FlatworkConcrete Drain Pans



Remaining Life 4

1,140 LF @ $15.00Asset Cost $5,130.00




Replace damaged sections continued...

Description: Concrete drain pan in 6th drive (east).


Action(s):⦁ Remove & replace damaged sections of the concrete drain pans starting in 2023.

Concrete Drain Pans - Total Current Cost $10,314




FlatworkConcrete Curb and Gutter



Remaining Life 3

9,700 LF @ $20.00Asset Cost $5,820.00


Description: Concrete curb and gutter.

Condition: Fair condition.

Action(s):⦁ Remove & replace damaged sections of the concrete curb and gutter starting in 2022.

Concrete Curb and Gutter - Total Current Cost $5,820



Replace pool deck - 2022Asset ID C06.1

FlatworkEast Pool Deck



Remaining Life 3

3,020 SF @ $22.00Asset Cost $66,440.00


Description: East pool deck.

Condition: The east pool deck has some cracks that have been grouted and patched.

Action(s):⦁ Remove & replace entire east pool deck starting in 2022.

East Pool Deck - Total Current Cost $66,440



Replace coping stones - 2022Asset ID C07.1

FlatworkPool Coping Stones



Remaining Life 3

140 LF @ $45.00Asset Cost $6,300.00


Description: Pool coping stones.


Action(s):⦁ Remove & replace pool coping stones and sealant joint starting in 2022.

Pool Coping Stones - Total Current Cost $6,300



Replace wheel stops - 2021Asset ID C08.1

FlatworkWheel Stops



Remaining Life 2

Asset Cost

Future Cost

Description: Wheel stops.

Condition: Varies; good to fair condition.

Action(s):⦁ Remove & replace wheel stops as required under annual operating budget.

Wheel Stops - Total Current Cost $0



Retaining walls - 2053Asset ID D01.1

Landscaping and AppurtenancesRetaining Walls



Remaining Life 34

1,350 LF @ Asset Cost

Percent Replacement 100%Future Cost

Description: Retaining walls.

Condition: Walls are in good condition. There are some broken top cap stones that should be replaced.

Action(s):⦁ Should exceed study.

Retaining Walls - Total Current Cost $0



Paint metal railings - 2022Asset ID D02.1

Landscaping and AppurtenancesMetal Railing



Remaining Life 3

1,560 LF @ $6.60Asset Cost $10,296.00


Description: Metal railing.


Action(s):⦁ Cyclically scrape, rustproof, and paint the railing every 10 years starting in 2022.

Replace metal railings - 2032Asset ID D02.2

Landscaping and AppurtenancesMetal Railing



Remaining Life 13

1,560 LF @ $31.00Asset Cost $48,360.00




Replace metal railings continued...

Description: Metal railing.


Action(s):⦁ Cyclically replace the metal railing every 25 years starting in 2032.

Metal Railing - Total Current Cost $58,656



Replace pool fencing - 2025Asset ID D03.2

Landscaping and AppurtenancesPool Fencing



Remaining Life 6

570 LF @ $34.00Asset Cost $19,380.00


Description: Replace the pool fencing.

Condition: Fair condition. There are areas of corrosion at the bottom rail of fence.

Action(s):⦁ Replace the pool fencing every 25 years starting in 2025.

Pool Fencing - Total Current Cost $19,380



Replace mail box units - 2030Asset ID D04.1

Landscaping and AppurtenancesMail Box Units



Remaining Life 11

12 UT @ $2,500.00Asset Cost $30,000.00


Description: Replace the mailbox units.


Action(s):⦁ Replace the mailbox units every 30 years starting in 2030.

Mail Box Units - Total Current Cost $30,000



Replace lighting units - 2023Asset ID D05.2

Landscaping and AppurtenancesExterior Lighting Units



Remaining Life 4

56 UT @ $150.00Asset Cost $4,200.00


Description: Exterior lighting units.


Action(s):⦁ Replace all lighting units over a two year period starting in 2023.

Replace lighting units - 2025Asset ID D05.1

Landscaping and AppurtenancesExterior Lighting Units



Remaining Life 6

56 UT @ $150.00Asset Cost $4,200.00




Replace lighting units continued...

Description: Exterior lighting units.


Action(s):⦁ Replace all lighting units over a two year period starting in 2025.

Exterior Lighting Units - Total Current Cost $8,400



Update signage - 2020Asset ID D06.1

Landscaping and AppurtenancesEntrance Monument



Remaining Life 1

1 UT @ $1,000.00Asset Cost $1,000.00


Description: Signage.

Condition: The north sign has been updated while the south sign has not been updated.

Action(s):⦁ Update the south sign in 2020.

Entrance Monument - Total Current Cost $1,000



Replace control clocks - 2024Asset ID D07.1

Landscaping and AppurtenancesLandscaping and Irrigation



Remaining Life 5

2 UT @ $1,400.00Asset Cost $2,800.00


Description: Irrigation control clocks.


Action(s):⦁ Replace control clocks every 12 years starting in 2024.

Landscaping and Irrigation - Total Current Cost $2,800



Powerwash siding - 2019Asset ID E01.1

FaçadeSiding and Trim



Remaining Life 0

143,500 SF @ $0.05Asset Cost $7,175.00


Description: Vinyl siding.


Action(s):⦁ Powerwash siding every year starting in 2019.

Siding and Trim - Total Current Cost $7,175



Tuckpoint - 2025Asset ID E02.1

FaçadeBrick Veneer



Remaining Life 6

61,500 SF @ $0.11Asset Cost $6,765.00


Description: Brick veneer.


Action(s):⦁ Cyclically tuckpoint the mortar joints and replace damaged bricks every 10 years

starting in 2025.

Brick Veneer - Total Current Cost $6,765



Paint metal railings - 2019Asset ID E03.2

FaçadeWood Balconies with Metal Railings



Remaining Life 0

60 UT @ $132.00Asset Cost $7,920.00


Description: Wood balconies with metal railings.


Action(s):⦁ Cyclically paint metal railings every 10 years starting in 2019.

Replace wooden deck boards - 2020Asset ID E03.3




Remaining Life 1

60 UT @ $1,350.00Asset Cost $24,300.00




Replace wooden deck boards continued...

Description: Wood balconies with metal railings.


Action(s):⦁ Cyclically replace 30% of wooden deck boards and any deteriorated 2x8 joists as

required every 5 years starting in 2020.

Stain wooden surfaces - 2019Asset ID E03.1




Remaining Life 0

60 UT @ $165.00Asset Cost $9,900.00


Description: Wood balconies.



Stain wooden surfaces continued...


Action(s):⦁ Cyclically stain wood balconies every 6 years starting in 2019.

Wood Balconies with Metal Railings - Total Current Cost $42,120



Paint garage doors - 2022Asset ID E04.3

FaçadeGarage Doors



Remaining Life 3

240 UT @ $56.00Asset Cost $13,440.00


Description: Garage doors.


Action(s):⦁ Cyclically paint the garage doors every 6 years starting in 2022.

Garage Doors - Total Current Cost $13,440



Replace shingles - 2028Asset ID F01.1

FaçadeAsphalt Shingles



1,200 UT @ $330.00Asset Cost $131,986.80

Percent Replacement 33.33%Future Cost $172,212.84

Description: Asphalt shingles.


Action(s):⦁ Cyclically replace the asphalt shingles over a 3 year period starting in 2028.





Remaining Life 10

1,200 UT @ $330.00Asset Cost $131,986.80




Replace shingles continued...








Remaining Life 11

1,200 UT @ $330.00Asset Cost $131,986.80






Replace shingles continued...


Asphalt Shingles - Total Current Cost $395,960



Replace gutters and downspouts - 2028Asset ID F02.1

FaçadeGutters and Downspouts



36,400 LF @ $3.30Asset Cost $40,036.00


Description: Gutters and downspouts.


Action(s):⦁ Cyclically replace the gutters and downspouts over a 3 year period starting in 2028.





Remaining Life 10

36,400 LF @ $3.30Asset Cost $40,036.00




Replace gutters and downspouts continued...








Remaining Life 11

36,400 LF @ $3.30Asset Cost $40,036.00






Replace gutters and downspouts continued...


Gutters and Downspouts - Total Current Cost $120,108



Replace east pool cover - 2020Asset ID G03.1

AmenitiesSwimming Pools



Remaining Life 1

1 UT @ $2,000.00Asset Cost $2,000.00


Description: East pool cover.

Condition: Understood to be in fair condition.

Action(s):⦁ Cyclically replace the east pool cover every 10 years starting in 2020.

Resurface east pool - 2020Asset ID G02.1

AmenitiesSwimming Pools



Remaining Life 1

1,055 SF @ $12.00Asset Cost $12,660.00




Resurface east pool continued...

Description: East pool surface.


Action(s):⦁ Cyclically resurface the east pool every 15 years starting in 2020.

Swimming Pools - Total Current Cost $14,660



Replace components of pool facility restrooms - 2022

Asset ID G04.1Amenities

RestroomsPlaced in Service October 1973

Useful Life 15Adjustment 34


2 UT @ $3,000.00Asset Cost $6,000.00


Description: East pool facility restrooms.


Action(s):⦁ Cyclically remove and replace all components of the east pool facility restroom every

15 years starting in 2022.

Restrooms - Total Current Cost $6,000



Replace pool boiler - 2027Asset ID H04.1

MechanicalBoilers



Remaining Life 8

1 UT @ $5,000.00Asset Cost $5,000.00


Description: East pool Raypak boiler.


Action(s):⦁ Cyclically remove and replace east pool boiler every 15 years starting in 2027.

Boilers - Total Current Cost $5,000



Replace pool filter - 2022Asset ID H05.1

MechanicalPool Filter



Remaining Life 3

1 UT @ $1,500.00Asset Cost $1,500.00


Description: East pool filter.


Action(s):⦁ Cyclically remove and replace east pool filter every 12 years starting in 2022.

Pool Filter - Total Current Cost $1,500



Replace hot water heater - 2021Asset ID H06.1

MechanicalHot Water Heaters



Remaining Life 2

1 UT @ $1,500.00Asset Cost $1,500.00


Description: East pool hot water heater.


Action(s):⦁ Cyclically remove and replace east pool hot water heater every 15 years starting in

2021.

Hot Water Heaters - Total Current Cost $1,500



Replace pool pump - 2021Asset ID H07.1

MechanicalPool Pumps



Remaining Life 2

1 UT @ $1,500.00Asset Cost $1,500.00


Description: East pool pump.


Action(s):⦁ Cyclically remove and replace east pool pump every 10 years starting in 2021.

Pool Pumps - Total Current Cost $1,500

Cherry Creek TownhomesRA Annual Expenditure Spread Sheet


2019 2020 2021 2022 2023 2024 2025 2026 2027 2028DescriptionSite DrainageRegrade 6,556 7,829Site Drainage Total: 6,556 7,829

Asphalt Streets and Parking AreasCrackfill 3,000Mill and Overlay 31,661Mill and Overlay 51,652Mill and Overlay 38,741Remove and replace pavement sections 30,000Asphalt Streets and Parking Areas Total: 33,000 31,661 51,652 38,741

Concrete WalkwaysReplace damaged section 6,295Concrete Walkways Total: 6,295

Concrete PorchesReplace damaged sections 4,591Concrete Porches Total: 4,591

Concrete Drain PansReplace damaged sections 5,665 6,764Replace damaged sections 5,774Concrete Drain Pans Total: 5,665 5,774 6,764

Concrete Curb and GutterReplace damaged sections 6,360 7,594Concrete Curb and Gutter Total: 6,360 7,594

East Pool DeckReplace pool deck 72,601East Pool Deck Total: 72,601

Pool Coping StonesReplace coping stones 6,884Pool Coping Stones Total: 6,884



2019 2020 2021 2022 2023 2024 2025 2026 2027 2028DescriptionWheel StopsReplace wheel stopsWheel Stops Total:

Retaining WallsRetaining walls

Metal RailingPaint metal railings 11,251Replace metal railingsMetal Railing Total: 11,251

Pool FencingReplace pool fencing 23,141Pool Fencing Total: 23,141

Mail Box UnitsReplace mail box unitsMail Box Units Total:

Exterior Lighting UnitsReplace lighting units 4,727Replace lighting units 5,015Exterior Lighting Units Total: 4,727 5,015

Entrance MonumentUpdate signage 1,030Entrance Monument Total: 1,030

Landscaping and IrrigationReplace control clocks 3,246Landscaping and Irrigation Total: 3,246

Siding and TrimPowerwash siding 7,175 7,390 7,612 7,840 8,076 8,318 8,567 8,824 9,089 9,362Siding and Trim Total: 7,175 7,390 7,612 7,840 8,076 8,318 8,567 8,824 9,089 9,362



2019 2020 2021 2022 2023 2024 2025 2026 2027 2028DescriptionBrick VeneerTuckpoint 8,078Brick Veneer Total: 8,078

Wood Balconies with Metal RailingsPaint metal railings 7,920Replace wooden deck boards 25,029 29,015Stain wooden surfaces 9,900 11,821Wood Balconies with Metal Railings Total: 17,820 25,029 40,837

Garage DoorsPaint garage doors 14,686 17,536Garage Doors Total: 14,686 17,536

Asphalt ShinglesReplace shingles 172,213Replace shinglesReplace shinglesAsphalt Shingles Total: 172,213

Gutters and DownspoutsReplace gutters and downspouts 52,238Replace gutters and downspoutsReplace gutters and downspoutsGutters and Downspouts Total: 52,238

Swimming PoolsReplace east pool cover 2,060Resurface east pool 13,040Swimming Pools Total: 15,100

RestroomsReplace components of pool facility restrooms 6,556Restrooms Total: 6,556



2019 2020 2021 2022 2023 2024 2025 2026 2027 2028DescriptionBoilersReplace pool boiler 6,334Boilers Total: 6,334

Pool FilterReplace pool filter 1,639Pool Filter Total: 1,639

Hot Water HeatersReplace hot water heater 1,591Hot Water Heaters Total: 1,591

Pool PumpsReplace pool pump 1,591Pool Pumps Total: 1,591

Year Total: 57,995 48,549 10,795 171,699 70,228 61,190 85,637 8,824 15,423 273,535



2029 2030 2031 2032 2033 2034 2035 2036 2037 2038DescriptionSite DrainageRegrade 9,348Site Drainage Total: 9,348

Asphalt Streets and Parking AreasCrackfillMill and OverlayMill and OverlayMill and OverlayRemove and replace pavement sectionsAsphalt Streets and Parking Areas Total:

Concrete WalkwaysReplace damaged section 7,974Concrete Walkways Total: 7,974

Concrete PorchesReplace damaged sections 5,815Concrete Porches Total: 5,815

Concrete Drain PansReplace damaged sections 8,077Replace damaged sections 6,894 8,232Concrete Drain Pans Total: 6,894 8,077 8,232

Concrete Curb and GutterReplace damaged sections 9,067Concrete Curb and Gutter Total: 9,067

East Pool DeckReplace pool deckEast Pool Deck Total:

Pool Coping StonesReplace coping stonesPool Coping Stones Total:



2029 2030 2031 2032 2033 2034 2035 2036 2037 2038DescriptionWheel StopsReplace wheel stopsWheel Stops Total:

Retaining WallsRetaining walls

Metal RailingPaint metal railings 15,120Replace metal railings 71,018Metal Railing Total: 86,138

Pool FencingReplace pool fencingPool Fencing Total:

Mail Box UnitsReplace mail box units 41,527Mail Box Units Total: 41,527

Exterior Lighting UnitsReplace lighting unitsReplace lighting unitsExterior Lighting Units Total:

Entrance MonumentUpdate signageEntrance Monument Total:

Landscaping and IrrigationReplace control clocks 4,628Landscaping and Irrigation Total: 4,628

Siding and TrimPowerwash siding 9,643 9,932 10,230 10,537 10,853 11,178 11,514 11,859 12,215 12,581Siding and Trim Total: 9,643 9,932 10,230 10,537 10,853 11,178 11,514 11,859 12,215 12,581



2029 2030 2031 2032 2033 2034 2035 2036 2037 2038DescriptionBrick VeneerTuckpoint 10,856Brick Veneer Total: 10,856

Wood Balconies with Metal RailingsPaint metal railings 10,644Replace wooden deck boards 33,637 38,994Stain wooden surfaces 14,115 16,854Wood Balconies with Metal Railings Total: 10,644 33,637 14,115 38,994 16,854

Garage DoorsPaint garage doors 20,939Garage Doors Total: 20,939

Asphalt ShinglesReplace shinglesReplace shingles 177,379Replace shingles 182,701Asphalt Shingles Total: 177,379 182,701

Gutters and DownspoutsReplace gutters and downspoutsReplace gutters and downspouts 53,805Replace gutters and downspouts 55,419Gutters and Downspouts Total: 53,805 55,419

Swimming PoolsReplace east pool cover 2,768Resurface east pool 20,316Swimming Pools Total: 2,768 20,316

RestroomsReplace components of pool facility restrooms 10,215Restrooms Total: 10,215



2029 2030 2031 2032 2033 2034 2035 2036 2037 2038DescriptionBoilersReplace pool boilerBoilers Total:

Pool FilterReplace pool filter 2,337Pool Filter Total: 2,337

Hot Water HeatersReplace hot water heater 2,479Hot Water Heaters Total: 2,479

Pool PumpsReplace pool pump 2,139Pool Pumps Total: 2,139

Year Total: 258,365 325,984 26,484 110,465 10,853 60,946 89,912 18,966 39,284 12,581

Cherry Creek TownhomesRA Annual Expenditure Detail


Description Expenditures

Replacement Year 2019Asphalt Streets and Parking Areas

Crackfill 3,000Remove and replace pavement sections 30,000

Siding and TrimPowerwash siding 7,175

Wood Balconies with Metal RailingsPaint metal railings 7,920Stain wooden surfaces 9,900

Total for 2019 $57,995

Replacement Year 2020Entrance Monument

Update signage 1,030Siding and Trim

Powerwash siding 7,390Wood Balconies with Metal Railings

Replace wooden deck boards 25,029Swimming Pools

Replace east pool cover 2,060Resurface east pool 13,040

Total for 2020 $48,549

Replacement Year 2021Wheel Stops

Replace wheel stopsSiding and Trim

Powerwash siding 7,612Hot Water Heaters

Replace hot water heater 1,591Pool Pumps

Replace pool pump 1,591Total for 2021 $10,795

Replacement Year 2022Site Drainage

Regrade 6,556




Replacement Year 2022 continued...Asphalt Streets and Parking Areas

Mill and Overlay 31,661Concrete Drain Pans

Replace damaged sections 5,665Concrete Curb and Gutter

Replace damaged sections 6,360East Pool Deck

Replace pool deck 72,601Pool Coping Stones

Replace coping stones 6,884Metal Railing

Paint metal railings 11,251Siding and Trim

Powerwash siding 7,840Garage Doors

Paint garage doors 14,686Restrooms

Replace components of pool facility restrooms 6,556Pool Filter

Replace pool filter 1,639Total for 2022 $171,699


Mill and Overlay 51,652Concrete Drain Pans

Replace damaged sections 5,774Exterior Lighting Units

Replace lighting units 4,727Siding and Trim

Powerwash siding 8,076Total for 2023 $70,228


Mill and Overlay 38,741




Replacement Year 2024 continued...Concrete Walkways

Replace damaged section 6,295Concrete Porches

Replace damaged sections 4,591Wheel Stops

Replace wheel stopsLandscaping and Irrigation

Replace control clocks 3,246Siding and Trim


Replacement Year 2025Pool Fencing

Replace pool fencing 23,141Exterior Lighting Units

Replace lighting units 5,015Siding and Trim

Powerwash siding 8,567Brick Veneer

Tuckpoint 8,078Wood Balconies with Metal Railings

Replace wooden deck boards 29,015Stain wooden surfaces 11,821

Total for 2025 $85,637

Replacement Year 2026Siding and Trim



Replace wheel stops




Replacement Year 2027 continued...Siding and Trim

Powerwash siding 9,089Boilers

Replace pool boiler 6,334Total for 2027 $15,423


Regrade 7,829Concrete Drain Pans


Replace damaged sections 7,594Siding and Trim


Paint garage doors 17,536Asphalt Shingles

Replace shingles 172,213Gutters and Downspouts

Replace gutters and downspouts 52,238Total for 2028 $273,535

Replacement Year 2029Concrete Drain Pans



Paint metal railings 10,644Asphalt Shingles


Replace gutters and downspouts 53,805Total for 2029 $258,365





Replace wheel stopsMail Box Units

Replace mail box units 41,527Siding and Trim


Replace wooden deck boards 33,637Asphalt Shingles


Replace gutters and downspouts 55,419Swimming Pools

Replace east pool cover 2,768Total for 2030 $325,984



Stain wooden surfaces 14,115Pool Pumps

Replace pool pump 2,139Total for 2031 $26,484

Replacement Year 2032Concrete Walkways

Replace damaged section 7,974Concrete Porches

Replace damaged sections 5,815Metal Railing

Paint metal railings 15,120Replace metal railings 71,018

Siding and TrimPowerwash siding 10,537

Total for 2032 $110,465





Replace wheel stopsSiding and Trim



Regrade 9,348Concrete Drain Pans




Paint garage doors 20,939Pool Filter

Replace pool filter 2,337Total for 2034 $60,946

Replacement Year 2035Concrete Drain Pans


Powerwash siding 11,514Brick Veneer

Tuckpoint 10,856Wood Balconies with Metal Railings

Replace wooden deck boards 38,994Swimming Pools

Resurface east pool 20,316Total for 2035 $89,912





Replace wheel stopsLandscaping and Irrigation

Replace control clocks 4,628Siding and Trim

Powerwash siding 11,859Hot Water Heaters

Replace hot water heater 2,479Total for 2036 $18,966



Stain wooden surfaces 16,854Restrooms

Replace components of pool facility restrooms 10,215Total for 2037 $39,284



Cherry Creek TownhomesRA Preliminary Reserve Study Summary


Report Date July 15, 2019

Budget Year Beginning April 30, 2019Budget Year Ending April 29, 2020

Report Parameters

Inflation 3.00%

Interest Rate on Reserve Deposit 0.25%

2019 Beginning Balance $259,047.00

Preliminary Funding Model Summary of Calculations

Required Monthly Contribution $4,693.58Average Net Monthly Interest Earned $48.29Total Monthly Allocation to Reserves $4,741.88


Note:

The Preliminary Funding Model Ending is the Projected Ending Reserves on the following page.

The Preliminary Funding Model Expenditure is the Annual Expenditures on the following page.

Cherry Creek TownhomesRA Preliminary Reserve Study Projection


Beginning Balance: $259,047Projected Fully

Annual Annual Annual Ending Funded PercentYear Contribution Interest Expenditures Reserves Reserves Funded

2019 56,323 580 57,995 257,955 950,968 27%2020 58,013 603 48,549 268,021 920,098 29%2021 59,753 725 10,795 317,704 961,529 33%2022 62,741 450 171,699 209,196 856,504 24%2023 65,878 437 70,228 205,283 846,503 24%2024 69,172 454 61,190 213,719 855,703 24%2025 72,630 419 85,637 201,131 844,739 23%2026 76,262 585 8,824 269,153 911,018 29%2027 80,075 744 15,423 334,548 971,440 34%2028 84,079 267 273,535 145,358 784,793 18%2029 88,282 258,365 -24,724 624,323 -3%2030 92,697 325,984 -258,012 410,837 -62%2031 97,331 26,484 -187,164 497,900 -37%2032 102,198 110,465 -195,430 506,929 -38%2033 107,308 10,853 -98,975 616,166 -16%2034 112,673 60,946 -47,248 677,400 -6%2035 118,307 89,912 -18,853 712,707 -2%2036 124,222 74 18,966 86,477 819,833 10%2037 130,433 295 39,284 177,922 908,141 19%2038 136,955 599 12,581 302,895 1,023,817 29%

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