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TRANSCRIPT
Silver King HOA
Level 2 Reserve Study
Report Period – 01/01/2019 – 12/31/2019
Report prepared on – Tuesday, October 09, 2018
TEL: (888) 356-3783 | Fax: (866) 279-9662 WWW.COMPLEXSOLUTIONSLTD.COM
Client Reference Number 14044 Property Type Condo-Hotel Number of Units 66 Fiscal Year End 12/31
Type of Study Update w/Site Visit Date of Property Inspection 7/26/2018 Prepared By Dale Gifford Analysis Method Cash Flow Funding Goal Full Funding
DRAFT
Table of Contents
Introduction
Executive Summary page 1
Introduction page 2
General Information and Frequently Asked Questions page 3 - 4
Reserve Analysis
Funding Summary page 5
Percent Funded – Graph page 6
Component Inventory page 7 - 8
Significant Components page 9 - 10
Significant Components – Graph page 11
Yearly Summary page 12
Yearly Reserve Contributions – Graph page 13
Component Funding Information page 14 - 15
Yearly Cash Flow page 16
Yearly Reserve Expenditures – Graph page 17
Projected Reserve Expenditures by Year page 18 - 23
Component Evaluation
Component Evaluation page 1 - 68
Glossary of Commonly used Words and Phrases
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1
Executive Summary – Silver King HOA - ID # 14044 Information to complete this Reserve Study was gathered by performing an on-site inspection of the common area elements. In addition, we also obtained information by contacting any vendors and/or contractors that have worked on the property recently, as well as communicating with the property representative (BOD Member and/or Community Manager). To the best of our knowledge, the conclusions and recommendations of this report are considered reliable and accurate insofar as the information obtained from these sources. Projected Starting Balance as of 01/01/2019 $324,040 Ideal Reserve Balance as of 01/01/2019 $866,211
Percent Funded as of 01/01/2019 37% Recommended Reserve Contribution (months 1 – 48 / 49 – 360) $12,000 / $10,300 Recommended Special Assessment $0
Silver King HOA is a 66-unit Condominium Hotel community. The community offers arcade room, fitness room, sauna, spa, swimming pool, underground parking garage and landscaped areas as amenities. Construction on the community was completed in 1982.
Currently Programmed Projects There are multiple projects programmed to occur this fiscal year (FY2019). We have programmed an estimated $235,100 in reserve expenditures toward the completion of these projects. (See page 18)
Significant Reserve Projects The association’s significant reserve projects are carpeting hallways floors 3, 4 & 5 replace (Comp# 1501), heat trace repair/replace (Comp# 121), elevator modernize (Comp# 707), and sky lights and windows repair/replace (Comp# 2301). The fiscal significance of these components is approximately 9%, 6%, 6%, and 6% respectively (see page 11). A component’s significance is calculated by dividing its replacement cost by its useful life. In this way, not only is a component’s replacement cost considered but also the frequency of occurrence. These components most significantly contribute to the total monthly reserve contribution. As these components have a high level of fiscal significance the association should properly maintain them to ensure they reach their full useful lives. Reserve Funding In comparing the projected starting reserve balance of $324,040 versus the ideal reserve balance of $866,211 we find the association’s reserve fund to be approximately 37% funded. This indicates a fair reserve fund position. In order to continue to strengthen the account fund, we suggest adopting a monthly reserve contribution of $12,000 ($181.82/unit) per month for three years and then $10,300 ($156.06/unit) per month for twenty-seven years. If the contribution falls below this rate, then the reserve fund may fall into a situation where special assessments, deferred maintenance, and lower property values are likely at some point in the future.
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2
Introduction Reserve Study Purpose The purpose of this Reserve Study is to provide the Association with a budgeting tool to help ensure that there are adequate reserve funds available to perform future reserve projects. The detailed schedules will serve as an advance warning that major projects will need to be addressed in the future. This will allow the Association to have ample time to obtain competitive bids for each project. It will also help to ensure the physical well-being of the property and ultimately enhance each owner’s investment, while limiting the possibility of unexpected major projects that may lead to special assessments. Preparer’s Credentials Mr. Gifford has been working in the community association industry for the last 16 years. Prior to taking a position, as the Regional Project Manager covering the Utah region, at Complex Solutions, he worked in community association management in Utah. While in community association management his positions included, Maintenance Supervisor, Senior Portfolio Manager and Vice President of Community Management. His work in community association management gave him extensive experience with; budget creation, reserves and reserve budgeting, community inspections and analyzing common area components.
Professional Reserve Analyst (PRA) designation from Association of Professional Reserve Analysts (APRA), PRA
#2320
Reserve Specialist (RS) designation from Community Associations Institute (CAI), RS# 231
Personally has prepared over 1,400 reserve studies in Salt Lake City Utah and surrounding areas
Bachelor of Science in Chemistry from Emporia State University
Certified Manager of Community Associations® (CMCA®) designation from the National Board of Certification for Community Association Managers (NBC-CAM)
Association Management Specialist® (AMS®) designation from Community Associations Institute (CAI)
Professional Community Association Manager® (PCAM®) designation from Community Associations Institute (CAI), PCAM# 1740,
Active member and former Board member and chapter President of the Utah Chapter of Community Associations
Institute (UCCAI)
Recipient of Community Associations Institute’s (CAI) annual award of Excellence in Chapter Leadership for service an achievement in 2010
Budget Breakdown Every association conducts their business within a budget. There are typically two main parts to this budget, the Operating budget and the Reserve budget. The operating budget includes all expenses that occur on an annual basis as well as general maintenance and repairs. Typical operating budget line items include management fees, maintenance expenses, utilities, etc. The reserve budget is primarily made up of replacement items such as roofing, fencing, mechanical equipment, etc., that do not normally occur on an annual basis.
Report Sections Reserve Analysis: this section contains the evaluation of the association’s reserve balance, income, and expenses. It includes a finding of the client’s current reserve fund status (measured as percent funded) and a recommendation for an appropriate reserve allocation rate (also known as the funding plan). Component Evaluation: this section contains information regarding the physical status and replacement cost of reserve components the association is responsible to maintain. It is important to understand that while the component inventory will remain relatively “stable” from year to year, the condition assessment and life estimates will most likely vary from year to year.
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General Information and Frequently Asked Questions Is it the law to have a Reserve Study conducted? The Government requires a reserve study in approximately 20 states. Also, the Association’s governing documents may require a reserve fund be established. This does not mean a Reserve Study is required, but how are you going to know if you have enough money in the reserve fund if you do not have the proper information? Why is it important to perform a Reserve Study? This report provides the essential information that is needed to guide the Association in establishing the reserve portion of the total monthly assessment. The reserve fund is critical to the future of the association because it helps ensure that reserve projects can be completed on time. When projects are completed on time, deferred maintenance and the lower property values that typically accompany it can be avoided. It is suggested that a third party professionally prepare the Reserve Analysis Study since there is no vested interest in the property. After we have a Reserve Study, what do we do with it? Please take the time to review the report carefully and make sure the component information is complete and accurate. If there are any inaccuracies, or changes such as a component that the association feels should be added, removed, or altered, please inform us immediately so we may revise the report. Use the report to help establish your budget for the upcoming fiscal year. How often do we review and update our Reserve Study? There is a misconception that a Reserve Study is good for an extended period of time since the report has projections for a thirty year period. The assumptions, interest rates, inflation rates and other information used to create this report change each year. Scheduled events may not happen, unpredictable circumstances could occur, deterioration rates can be unpredictable and repair/replacement costs will vary from causes that are unforeseen. These variations alter the results of the Reserve Study. The Reserve Study should be professionally reviewed each year by having a Level III “no site visit” update reserve study performed. The Reserve Study should be professionally updated every three years by having a Level II “site visit” update reserve study performed. What is a “Reserve Component” versus an “Operating Component”? A “Reserve” component is an item that is the responsibility of the association to maintain, has a limited useful life, predictable remaining useful life, typically occurs on a cyclical basis that exceeds one year, and costs above a minimum threshold amount. An “Operating” component is typically a fixed expense that occurs on an annual basis. What are the GREY areas of “maintenance” items that are often seen in a Reserve Study? One of the most popular questions revolves around major “maintenance” items, such as painting the buildings or seal coating the asphalt. You may hear from your accountant that since painting or seal coating is not replacing a “capital” item, it cannot be considered a reserve component. However, it is the opinion of several major Reserve Study providers, including Complex Solutions, that these components meet the criteria of a reserve component. Information and Data Gathered: The information contained in this report is based on estimates and assumptions gathered from various sources. Estimated life expectancies are based upon conditions that were readily visible and accessible at the time of the site visit. While every effort has been made to ensure accurate results, this report reflects the judgment of Complex Solutions, Ltd. and should not be construed as a guarantee or assurance of predicting future events. What happens during the Site Visit? During the site visit we identify the common area components that we have determined require reserve funding. These components are quantified and a physical condition is observed. The site visit is conducted on the common areas as reported by client. What is the Financial Analysis? We project the starting balance by taking the most recent reserve fund balance as stated by the client and add expected reserve contributions to the end of the fiscal year. We then subtract the expenses of any pending projects. We compare this number to the Fully Funded Balance and arrive at the Percent Funded level. Based on that level of funding we then recommend a Funding Plan to help ensure the adequacy of funding in the future.
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4
Measures of reserve fund financial strength are as follows: 0% - 30% Funded is considered a “weak” financial position. Associations that fall into this category are more likely to have
special assessments and deferred maintenance. Action should be taken to improve the financial strength of the reserve fund.
31% - 69% Funded is considered a “fair” financial position. Associations that fall into this category are less likely to experience special assessments and deferred maintenance than being in a weak financial position. Action should be taken to improve the financial strength of the reserve fund.
70% - 99% Funded is considered a “strong” financial position. Associations that fall into this category are less likely to experience special assessments and deferred maintenance than being in a fair financial position. Action should be taken to improve the financial strength of the reserve fund.
100% Funded is considered an “ideal” financial position. Action should be taken to maintain the financial strength of the reserve fund.
Disclosures: Information provided to the preparer of a reserve study by an official representative of the association regarding financial, historical, physical, quantitative or reserve project issues will be deemed reliable by the preparer. A reserve study will be a reflection of information provided to the preparer of the reserve study. The total of actual or projected reserves required as presented in the reserve study is based upon information provided that was not audited. A reserve study is not intended to be used to perform an audit, an analysis of quality, a forensic study or a background check of historical records. An on-site inspection conducted in conjunction with a reserve study should not be deemed to be a project audit or quality inspection. The results of this study are based on the independent opinion of the preparer and his experience and research during the course of his career in preparing Reserve Studies. In addition the opinions of experts on certain components have been gathered through research within their industry and with client’s actual vendors. There is no implied warrantee or guarantee regarding our life and cost estimates/predictions. There is no implied warrantee or guarantee in any of our work product. Our results and findings will vary from another preparer’s results and findings. A Reserve Study is necessarily a work in progress and subsequent Reserve Studies will vary from prior studies. The projected life expectancy of the reserve components and the funding needs of the reserves of the association are based upon the association performing appropriate routine and preventative maintenance for each component. Failure to perform such maintenance can negatively impact the remaining useful life of the component and dramatically increase the funding needs of the reserves of the association. This Reserve Study assumes that all construction assemblies and components identified herein are built properly and are free from defects in materials and/or workmanship. Defects can lead to reduced useful life and premature failure. It was not the intent of this Reserve Study to inspect for or to identify defects. If defects exist, repairs should be made so that the construction components and assemblies at the community reach the full and expected useful lives. Site Visits: Should a site visit have been performed during the preparation of this reserve study no invasive testing was performed. The physical analysis performed during the site visit was not intended to be exhaustive in nature and may have included representative sampling. Estimated life expectancies and life cycles are based upon conditions that were readily accessible and visible at the time of the site visit. We have assumed any and all components have been properly built and will reach normal, typical life expectancies. A reserve study is not intended to identify or fund for construction defects. We did not and will not look for or identify construction defects during our site visit. In addition, environmental hazards (such as lead paint, asbestos, radon, etc.), have been excluded from this report. Update Reserve Studies: Level II Studies: Quantities of major components as reported in previous reserve studies are deemed to be accurate and reliable. The reserve study relies upon the validity of previous reserve studies. Level III Studies: In addition to the above we have not visited the property when completing a Level III “No Site Visit” study. Therefore we have not verified the current condition of the components. Insurance: We carry general and professional liability insurance as well as workers’ compensation insurance. Actual or Perceived Conflicts of Interest: There are no potential actual or perceived conflicts of interest that we are aware of. Inflation and Interest Rates: The after tax interest rate used in the financial analysis may or may not be based on the clients reported after tax interest rate. If it is, we have not verified or audited the reported rate. The inflation rate may also be based on an amount we believe appropriate given the 30-year horizon of this study and may or may not reflect current or historical inflation rates.
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Beginning Assumptions
# of units 66Fiscal Year End 31-DecBudgeted Monthly Reserve Allocation $8,009Projected Starting Reserve Balance $324,040Ideal Starting Reserve Balance $866,211
Economic Assumptions
Projected Inflation Rate 3.00%Reported After-Tax Interest Rate 0.10%
Current Reserve Status
Current Balance as a % of Ideal Balance 37%
Recommendations (FY 2019-2021)
Recommended Monthly Reserve Allocation $12,000Per Unit $181.82
Future Annual Increases 3.00%For number of years: 3
Recommendations (FY 2021-2048)
Recommended Monthly Reserve Allocation $10,300Per Unit $156.06
Future Annual Increases 3.00%For number of years: 27
70% Funded Monthly Reserve Allocation Reference $9,275Per Unit $140.53
Future Annual Increases 3.00%For number of years: 27
Funding Summary
5DRAFT
Percent Funded - Graph
0%
20%
40%
60%
80%
100%
120%
2019
2021
2023
2025
2027
2029
2031
2033
2035
2037
2039
2041
2043
2045
2047
2049
% L
evel
of
Fu
nd
ing
Recommended Current Minimum
6DRAFT
Component Inventory
Category ID # Component NameUseful
Life (yrs.)
RemainingUseful Life
(yrs.)
Best Cost
Worst Cost
Roofing 108 Metal Roof - Replace N/A $0 $0120 Rain Gutters/Downspouts - Repair 2 0 $1,900 $2,100121 Heat Trace - Repair/Replace 2 0 $10,000 $12,000190 Calrods - Replace 10 3 $2,000 $3,000
Painted Surfaces 207 Metal Fencing & Railing - Repaint 6 0 $5,100 $5,300215 Siding - Repair/Repaint 8 0 $18,000 $20,000216 Interior Surfaces - Hallways - Repaint 10 7 $15,000 $17,000216 Interior Surfaces - Meeting Rooms - Rep 10 5 $5,000 $7,000290 Metal Roof - Repaint 10 3 $2,500 $3,500
Drive Materials 401 Asphalt - Major Rehab 25 3 $23,800 $35,700402 Asphalt - Seal Coat 3 2 $4,500 $5,500403 Asphalt - Crack Fill 1 0 $3,500 $4,000404 Concrete Pavers - Repair/Replace 10 3 $2,500 $3,500
Property Access 502 Garage Door - Replace 20 19 $2,300 $2,500508 Access Control System - Renovate/Repla 10 9 $25,000 $27,000590 Lobby Entrance Doors - Replace 20 18 $17,000 $19,000
Mechanical Equip. 702 Boiler - Replace 25 4 $40,000 $45,000703 Commercial Water Heaters - Replace 15 0 $15,000 $17,000704 Hot Water Storage Tank - Large - Inspec 1 0 $1,900 $2,100704 Hot Water Storage Tank - Large - Reline 20 1 $10,000 $12,000705 Ductless HVAC System - Replace 20 1 $4,000 $6,000706 Radiant Heater - Replace N/A $0 $0707 Elevator - Modernize 30 1 $140,000 $180,000709 Elevator Cab - Remodel 15 12 $29,000 $31,000710 Emergency Generator - Replace 25 1 $15,000 $20,000711 Chiller - Rebuild 30 18 $27,000 $29,000711 Chiller - Replace 30 3 $80,000 $100,000712 Cooling Tower - Rebuild 30 19 $25,000 $27,000712 Cooling Tower - Replace 30 4 $50,000 $70,000713 Pool Door Winch - Repair/Replace 20 0 $1,900 $2,100714 Exhaust Fans - Replace N/A $0 $0715 Pumps - Rebuild/Replace N/A $0 $0716 Variable Frequency Drive - Replace 15 3 $2,500 $3,500790 Generator Control Switch - Replace 25 13 $2,000 $3,000
Prop. Identification 801 Community Signs - Replace N/A $0 $0805 Common Area Signs - Replace 10 1 $1,900 $2,100
Life / Safety 901 Fire Protection System - Renovate 20 0 $74,000 $76,000903 Security Camera System - Replace 12 1 $5,000 $7,000
Pool / Spa 1101 Pool & Spa - Resurface 12 11 $16,000 $18,0001104 Pool Heater - 2003 - Replace 12 0 $5,000 $6,000
7DRAFT
Category ID # Component NameUseful
Life (yrs.)
RemainingUseful Life
(yrs.)
Best Cost
Worst Cost
Pool / Spa 1104 Pool Heater - 2009 - Replace 12 2 $5,000 $6,0001105 Spa Heater - Replace 12 10 $4,000 $5,0001107 Pool Filter - Replace 15 8 $1,700 $2,1001108 Spa Filter - Replace 15 11 $1,700 $2,1001111 Pool & Spa Chemical Automation System 12 1 $7,000 $9,0001121 Pool Furniture - Replace 10 8 $5,000 $6,000
Interiors 1401 Commercial Dryer - Replace 20 4 $4,000 $5,0001401 Commercial Dryer - Replace 20 9 $4,000 $5,0001401 Commercial Washers - Replace 10 1 $12,000 $14,0001402 Water Softener System - Laundry 2006 - 15 2 $3,000 $3,2001402 Water Softener System - Laundry 2020 - 15 1 $3,000 $3,2001405 Furniture - Replace 10 0 $5,000 $6,0001407 Cardio Equipment - 2009 - Replace 10 0 $7,000 $9,0001409 Sauna Room - Remodel 20 0 $9,000 $11,0001413 Restrooms - Meeting Area - Remodel 20 12 $18,000 $20,0001413 Restrooms - Pool Area - Remodel 20 0 $24,000 $26,0001420 Lobby Fireplace - Replace 12 4 $5,000 $6,0001421 Telephone Switch - Replace 20 1 $49,000 $51,0001490 Ice Machine - Replace 12 10 $3,700 $3,900
Flooring 1501 Carpeting - Floors 1 & 2 - Replace 8 0 $34,000 $36,0001501 Carpeting - Floors 3, 4 & 5 - Replace 8 1 $60,000 $62,0001501 Carpeting - Meeting Rooms - Replace 10 3 $30,000 $30,0001503 Tile Flooring - 2011-12 - Replace 30 23 $70,000 $80,000
Vehicles / Equipm 1903 Riding Mower - Replace 10 8 $2,900 $3,1001904 Snow Plow - Replace 10 0 $3,000 $4,0001905 Snow Blower - 2017 - Replace 8 6 $700 $8001905 Snow Blowers - 2019 - Replace 8 0 $1,600 $1,700
Buildings / Structu 2301 Sky Lights & Windows - Repair/Replace 1 0 $4,000 $6,000
8DRAFT
As $ As %
120 Rain Gutters/Downspouts - Repair 2 0 $2,000 $1,000 1.1712%121 Heat Trace - Repair/Replace 2 0 $11,000 $5,500 6.4414%190 Calrods - Replace 10 3 $2,500 $250 0.2928%207 Metal Fencing & Railing - Repaint 6 0 $5,200 $867 1.0150%215 Siding - Repair/Repaint 8 0 $19,000 $2,375 2.7815%216 Interior Surfaces - Hallways - Repaint 10 7 $16,000 $1,600 1.8739%216 Interior Surfaces - Meeting Rooms - Re 10 5 $6,000 $600 0.7027%290 Metal Roof - Repaint 10 3 $3,000 $300 0.3513%401 Asphalt - Major Rehab 25 3 $29,750 $1,190 1.3937%402 Asphalt - Seal Coat 3 2 $5,000 $1,667 1.9519%403 Asphalt - Crack Fill 1 0 $3,750 $3,750 4.3919%404 Concrete Pavers - Repair/Replace 10 3 $3,000 $300 0.3513%502 Garage Door - Replace 20 19 $2,400 $120 0.1405%508 Access Control System - Renovate/Rep 10 9 $26,000 $2,600 3.0450%590 Lobby Entrance Doors - Replace 20 18 $18,000 $900 1.0540%702 Boiler - Replace 25 4 $42,500 $1,700 1.9910%703 Commercial Water Heaters - Replace 15 0 $16,000 $1,067 1.2492%704 Hot Water Storage Tank - Large - Inspe 1 0 $2,000 $2,000 2.3423%704 Hot Water Storage Tank - Large - Reline 20 1 $11,000 $550 0.6441%705 Ductless HVAC System - Replace 20 1 $5,000 $250 0.2928%707 Elevator - Modernize 30 1 $160,000 $5,333 6.2462%709 Elevator Cab - Remodel 15 12 $30,000 $2,000 2.3423%710 Emergency Generator - Replace 25 1 $17,500 $700 0.8198%711 Chiller - Rebuild 30 18 $28,000 $933 1.0931%711 Chiller - Replace 30 3 $90,000 $3,000 3.5135%712 Cooling Tower - Rebuild 30 19 $26,000 $867 1.0150%712 Cooling Tower - Replace 30 4 $60,000 $2,000 2.3423%713 Pool Door Winch - Repair/Replace 20 0 $2,000 $100 0.1171%716 Variable Frequency Drive - Replace 15 3 $3,000 $200 0.2342%790 Generator Control Switch - Replace 25 13 $2,500 $100 0.1171%805 Common Area Signs - Replace 10 1 $2,000 $200 0.2342%901 Fire Protection System - Renovate 20 0 $75,000 $3,750 4.3919%903 Security Camera System - Replace 12 1 $6,000 $500 0.5856%
1101 Pool & Spa - Resurface 12 11 $17,000 $1,417 1.6592%1104 Pool Heater - 2003 - Replace 12 0 $5,500 $458 0.5368%1104 Pool Heater - 2009 - Replace 12 2 $5,500 $458 0.5368%1105 Spa Heater - Replace 12 10 $4,500 $375 0.4392%1107 Pool Filter - Replace 15 8 $1,900 $127 0.1483%1108 Spa Filter - Replace 15 11 $1,900 $127 0.1483%
Significant Components
Significance: (Curr Cost/UL)
Average Current
Cost
Remaining Useful Life
(yrs.)
Useful Life
(yrs.)Component NameID #
9DRAFT
As $ As %
1111 Pool & Spa Chemical Automation Syste 12 1 $8,000 $667 0.7808%1121 Pool Furniture - Replace 10 8 $5,500 $550 0.6441%1401 Commercial Dryer - Replace 20 4 $4,500 $225 0.2635%1401 Commercial Dryer - Replace 20 9 $4,500 $225 0.2635%1401 Commercial Washers - Replace 10 1 $13,000 $1,300 1.5225%1402 Water Softener System - Laundry 2006 15 2 $3,100 $207 0.2420%1402 Water Softener System - Laundry 2020 15 1 $3,100 $207 0.2420%1405 Furniture - Replace 10 0 $5,500 $550 0.6441%1407 Cardio Equipment - 2009 - Replace 10 0 $8,000 $800 0.9369%1409 Sauna Room - Remodel 20 0 $10,000 $500 0.5856%1413 Restrooms - Meeting Area - Remodel 20 12 $19,000 $950 1.1126%1413 Restrooms - Pool Area - Remodel 20 0 $25,000 $1,250 1.4640%1420 Lobby Fireplace - Replace 12 4 $5,500 $458 0.5368%1421 Telephone Switch - Replace 20 1 $50,000 $2,500 2.9279%1490 Ice Machine - Replace 12 10 $3,800 $317 0.3709%1501 Carpeting - Floors 1 & 2 - Replace 8 0 $35,000 $4,375 5.1239%1501 Carpeting - Floors 3, 4 & 5 - Replace 8 1 $61,000 $7,625 8.9301%1501 Carpeting - Meeting Rooms - Replace 10 3 $30,000 $3,000 3.5135%1503 Tile Flooring - 2011-12 - Replace 30 23 $75,000 $2,500 2.9279%1903 Riding Mower - Replace 10 8 $3,000 $300 0.3513%1904 Snow Plow - Replace 10 0 $3,500 $350 0.4099%1905 Snow Blower - 2017 - Replace 8 6 $750 $94 0.1098%1905 Snow Blowers - 2019 - Replace 8 0 $1,650 $206 0.2416%2301 Sky Lights & Windows - Repair/Replace 1 0 $5,000 $5,000 5.8558%
Significance: (Curr Cost/UL)ID # Component Name
Average Current
Cost
Remaining Useful Life
(yrs.)
Useful Life
(yrs.)
10DRAFT
As $ As %1501 Carpeting - Floors 3, 4 & 5 - Replace 8 1 $61,000 $7,625 9%121 Heat Trace - Repair/Replace 2 0 $11,000 $5,500 6%707 Elevator - Modernize 30 1 $160,000 $5,333 6%2301 Sky Lights & Windows - Repair/Replac 1 0 $5,000 $5,000 6%
All Other See Expanded Table For Breakdown $61,927 73%
ID #Significance:
(Curr Cost/UL)
Significant Components - Graph
Average Current
Cost
Remaining Useful Life
(yrs.)
Useful Life
(yrs.)Component Name
9%6%
6%
6%
73%
1501 Carpeting - Floors 3, 4 & 5 - Replace
121 Heat Trace - Repair/Replace
707 Elevator - Modernize
2301 Sky Lights & Windows - Repair/Replace
All Other
11DRAFT
YearFully
Funded Balance
Starting Reserve Balance
% Funded
Reserve Contributions
Interest Income
Reserve Expenses
Ending Reserve Balance
2019 $866,211 $324,040 37% $144,000 $279 $235,100 $233,2192020 $737,991 $233,219 32% $148,320 $129 $357,771 $23,8972021 $482,212 $23,897 5% $152,770 $81 $39,625 $137,1222022 $549,167 $137,122 25% $123,600 $105 $187,949 $72,8782023 $468,156 $72,878 16% $127,308 $60 $153,351 $46,8952024 $423,235 $46,895 11% $131,127 $100 $25,214 $152,9082025 $511,915 $152,908 30% $135,061 $203 $35,463 $252,7092026 $595,758 $252,709 42% $139,113 $306 $32,899 $359,2292027 $687,908 $359,229 52% $143,286 $371 $120,090 $382,7962028 $696,261 $382,796 55% $147,585 $390 $133,413 $397,3582029 $694,483 $397,358 57% $152,012 $441 $65,919 $483,8922030 $765,614 $483,892 63% $156,573 $528 $68,727 $572,2652031 $839,532 $572,265 68% $161,270 $594 $118,980 $615,1492032 $867,560 $615,149 71% $166,108 $650 $96,556 $685,3522033 $923,286 $685,352 74% $171,091 $745 $52,941 $804,2472034 $1,029,483 $804,247 78% $176,224 $867 $51,023 $930,3152035 $1,144,831 $930,315 81% $181,511 $951 $141,214 $971,5622036 $1,174,854 $971,562 83% $186,956 $986 $158,425 $1,001,0792037 $1,192,283 $1,001,079 84% $192,565 $1,024 $147,175 $1,047,4932038 $1,226,184 $1,047,493 85% $198,342 $1,090 $114,241 $1,132,6842039 $1,299,517 $1,132,684 87% $204,292 $1,093 $284,914 $1,053,1552040 $1,203,882 $1,053,155 87% $210,421 $1,074 $170,682 $1,093,9672041 $1,227,802 $1,093,967 89% $216,733 $1,171 $62,848 $1,249,0232042 $1,368,417 $1,249,023 91% $223,235 $1,215 $292,387 $1,181,0872043 $1,281,882 $1,181,087 92% $229,932 $1,200 $192,302 $1,219,9172044 $1,301,044 $1,219,917 94% $236,830 $1,243 $192,104 $1,265,8872045 $1,326,349 $1,265,887 95% $243,935 $1,331 $115,701 $1,395,4512046 $1,436,632 $1,395,451 97% $251,253 $1,459 $126,058 $1,522,1052047 $1,545,245 $1,522,105 99% $258,791 $1,575 $154,435 $1,628,0362048 $1,633,750 $1,628,036 100% $266,555 $1,658 $209,145 $1,687,103
Yearly Summary
12DRAFT
Reserve Contributions - Graph
$-
$5,000
$10,000
$15,000
$20,000
$25,000
2019
2021
2023
2025
2027
2029
2031
2033
2035
2037
2039
2041
2043
2045
2047
2049
Year
Monthly Reserve Contributions
Recommended Current Minimum
13DRAFT
ID Component Name UL
RU
L
QuantityAverage Current
Cost
Ideal Balance
Current Fund
BalanceMonthly
120 Rain Gutters/Downspouts - Repair 2 0 Approx 855 Linear ft. $2,000 $2,000 $2,000 $140.54121 Heat Trace - Repair/Replace 2 0 Extensive Linear ft. $11,000 $11,000 $11,000 $772.97190 Calrods - Replace 10 3 (1) System $2,500 $1,750 $0 $35.13207 Metal Fencing & Railing - Repaint 6 0 Approx 695 Linear ft. $5,200 $5,200 $5,200 $121.80215 Siding - Repair/Repaint 8 0 Approx 14,275 Sq.ft. $19,000 $19,000 $19,000 $333.78216 Interior Surfaces - Hallways - Repaint 10 7 Approx 41,405 Sq.ft. $16,000 $4,800 $0 $224.86216 Interior Surfaces - Meeting Rooms - Repaint 10 5 Approx 4,350 Sq.ft. $6,000 $3,000 $0 $84.32290 Metal Roof - Repaint 10 3 Approx 28,750 Sq.ft. $3,000 $2,100 $0 $42.16401 Asphalt - Major Rehab 25 3 Approx 11,900 Sq.ft. $29,750 $26,180 $0 $167.24402 Asphalt - Seal Coat 3 2 Approx 11,900 Sq.ft. $5,000 $1,667 $0 $234.23403 Asphalt - Crack Fill 1 0 Approx 11,900 Sq.ft. $3,750 $3,750 $3,750 $527.02404 Concrete Pavers - Repair/Replace 10 3 Moderate Sq.ft. $3,000 $2,100 $0 $42.16502 Garage Door - Replace 20 19 (1) Garage Door $2,400 $120 $0 $16.86508 Access Control System - Renovate/Replace 10 9 (1) System $26,000 $2,600 $0 $365.40590 Lobby Entrance Doors - Replace 20 18 (1) Entrance $18,000 $1,800 $0 $126.49702 Boiler - Replace 25 4 (1) Boiler $42,500 $35,700 $0 $238.92703 Commercial Water Heaters - Replace 15 0 (2) Water Heaters $16,000 $16,000 $16,000 $149.91704 Hot Water Storage Tank - Large - Inspect/Rep 1 0 (1) Tank $2,000 $2,000 $2,000 $281.08704 Hot Water Storage Tank - Large - Reline 20 1 (1) Tank $11,000 $10,450 $10,450 $77.30705 Ductless HVAC System - Replace 20 1 (1) System $5,000 $4,750 $4,750 $35.13707 Elevator - Modernize 30 1 (2) Elevators $160,000 $154,667 $73,740 $749.55709 Elevator Cab - Remodel 15 12 (2) Elevators $30,000 $6,000 $0 $281.08710 Emergency Generator - Replace 25 1 (1) Generator $17,500 $16,800 $0 $98.38711 Chiller - Rebuild 30 18 (1) Chiller $28,000 $11,200 $0 $131.17711 Chiller - Replace 30 3 (1) Chiller $90,000 $81,000 $0 $421.62712 Cooling Tower - Rebuild 30 19 (1) Cooling Tower $26,000 $9,533 $0 $121.80712 Cooling Tower - Replace 30 4 (1) Cooling Tower $60,000 $52,000 $0 $281.08713 Pool Door Winch - Repair/Replace 20 0 (1) Winch $2,000 $2,000 $2,000 $14.05716 Variable Frequency Drive - Replace 15 3 (1) Variable Frequency Drive $3,000 $2,400 $0 $28.11790 Generator Control Switch - Replace 25 13 (1) Switch $2,500 $1,200 $0 $14.05
Component Funding Information
14
DRAFT
ID Component Name UL
RU
L
QuantityAverage Current
Cost
Ideal Balance
Current Fund
BalanceMonthly
805 Common Area Signs - Replace 10 1 Multiple Signs $2,000 $1,800 $0 $28.11901 Fire Protection System - Renovate 20 0 (1) System $75,000 $75,000 $75,000 $527.02903 Security Camera System - Replace 12 1 (1) System $6,000 $5,500 $0 $70.27
1101 Pool & Spa - Resurface 12 11 (1) Pool $17,000 $1,417 $0 $199.101104 Pool Heater - 2003 - Replace 12 0 (1) Heater $5,500 $5,500 $5,500 $64.411104 Pool Heater - 2009 - Replace 12 2 (1) Heater $5,500 $4,583 $0 $64.411105 Spa Heater - Replace 12 10 (1) Heater $4,500 $750 $0 $52.701107 Pool Filter - Replace 15 8 (1) Filter $1,900 $887 $0 $17.801108 Spa Filter - Replace 15 11 (1) Filter $1,900 $507 $0 $17.801111 Pool & Spa Chemical Automation Systems - R 12 1 (2) Systems $8,000 $7,333 $0 $93.691121 Pool Furniture - Replace 10 8 Assorted Pieces $5,500 $1,100 $0 $77.301401 Commercial Dryer - Replace 20 4 (1) Dryer $4,500 $3,600 $0 $31.621401 Commercial Dryer - Replace 20 9 (1) Dryer $4,500 $2,475 $0 $31.621401 Commercial Washers - Replace 10 1 (2) Washers $13,000 $11,700 $0 $182.701402 Water Softener System - Laundry 2006 - Rep 15 2 (1) System $3,100 $2,687 $0 $29.041402 Water Softener System - Laundry 2020 - Rep 15 1 (1) System $3,100 $2,893 $0 $29.041405 Furniture - Replace 10 0 (36) Pieces $5,500 $5,500 $5,500 $77.301407 Cardio Equipment - 2009 - Replace 10 0 (3) Pieces $8,000 $8,000 $8,000 $112.431409 Sauna Room - Remodel 20 0 (1) Sauna $10,000 $10,000 $10,000 $70.271413 Restrooms - Meeting Area - Remodel 20 12 (2) Restrooms $19,000 $7,600 $0 $133.511413 Restrooms - Pool Area - Remodel 20 0 (2) Restrooms $25,000 $25,000 $25,000 $175.671420 Lobby Fireplace - Replace 12 4 (1) Fireplace $5,500 $3,667 $0 $64.411421 Telephone Switch - Replace 20 1 (1) System $50,000 $47,500 $0 $351.351490 Ice Machine - Replace 12 10 (1) Ice Machine $3,800 $633 $0 $44.501501 Carpeting - Floors 1 & 2 - Replace 8 0 Approx 4,225 Sq.ft. $35,000 $35,000 $35,000 $614.861501 Carpeting - Floors 3, 4 & 5 - Replace 8 1 Approx 7,600 Sq.ft. $61,000 $53,375 $0 $1,071.621501 Carpeting - Meeting Rooms - Replace 10 3 Approx 3,650 Sq.ft. $30,000 $21,000 $0 $421.621503 Tile Flooring - 2011-12 - Replace 30 23 Approx 4,150 Sq.ft. $75,000 $17,500 $0 $351.351903 Riding Mower - Replace 10 8 (1) Riding Mower $3,000 $600 $0 $42.161904 Snow Plow - Replace 10 0 (1) Snow Plow $3,500 $3,500 $3,500 $49.191905 Snow Blower - 2017 - Replace 8 6 (1) Snow Blower $750 $188 $0 $13.181905 Snow Blowers - 2019 - Replace 8 0 (1) Snow Blower $1,650 $1,650 $1,650 $28.99
15
DRAFT
ID Component Name UL
RU
L
QuantityAverage Current
Cost
Ideal Balance
Current Fund
BalanceMonthly
2301 Sky Lights & Windows - Repair/Replace 1 0 Numerous Skylights $5,000 $5,000 $5,000 $702.70$1,150,800 $866,211 $324,040 $12,000
Current Fund Balance as a percentage of Ideal Balance: 37%
16
DRAFT
Year 2019 2020 2021 2022 2023Starting Balance $324,040 $233,219 $23,897 $137,122 $72,878 Reserve Income $144,000 $148,320 $152,770 $123,600 $127,308 Interest Earnings $279 $129 $81 $105 $60 Special Assessments $0 $0 $0 $0 $0Funds Available $468,319 $381,667 $176,747 $260,827 $200,246Reserve Expenditures $235,100 $357,771 $39,625 $187,949 $153,351Ending Balance $233,219 $23,897 $137,122 $72,878 $46,895
Year 2024 2025 2026 2027 2028Starting Balance $46,895 $152,908 $252,709 $359,229 $382,796 Reserve Income $131,127 $135,061 $139,113 $143,286 $147,585 Interest Earnings $100 $203 $306 $371 $390 Special Assessments $0 $0 $0 $0 $0Funds Available $178,123 $288,172 $392,128 $502,886 $530,771Reserve Expenditures $25,214 $35,463 $32,899 $120,090 $133,413Ending Balance $152,908 $252,709 $359,229 $382,796 $397,358
Year 2029 2030 2031 2032 2033Starting Balance $397,358 $483,892 $572,265 $615,149 $685,352 Reserve Income $152,012 $156,573 $161,270 $166,108 $171,091 Interest Earnings $441 $528 $594 $650 $745 Special Assessments $0 $0 $0 $0 $0Funds Available $549,811 $640,993 $734,129 $781,908 $857,188Reserve Expenditures $65,919 $68,727 $118,980 $96,556 $52,941Ending Balance $483,892 $572,265 $615,149 $685,352 $804,247
Year 2034 2035 2036 2037 2038Starting Balance $804,247 $930,315 $971,562 $1,001,079 $1,047,493 Reserve Income $176,224 $181,511 $186,956 $192,565 $198,342 Interest Earnings $867 $951 $986 $1,024 $1,090 Special Assessments $0 $0 $0 $0 $0Funds Available $981,338 $1,112,777 $1,159,505 $1,194,668 $1,246,925Reserve Expenditures $51,023 $141,214 $158,425 $147,175 $114,241Ending Balance $930,315 $971,562 $1,001,079 $1,047,493 $1,132,684
Year 2039 2040 2041 2042 2043Starting Balance $1,132,684 $1,053,155 $1,093,967 $1,249,023 $1,181,087 Reserve Income $204,292 $210,421 $216,733 $223,235 $229,932 Interest Earnings $1,093 $1,074 $1,171 $1,215 $1,200 Special Assessments $0 $0 $0 $0 $0Funds Available $1,338,069 $1,264,649 $1,311,872 $1,473,474 $1,412,220Reserve Expenditures $284,914 $170,682 $62,848 $292,387 $192,302Ending Balance $1,053,155 $1,093,967 $1,249,023 $1,181,087 $1,219,917
Year 2044 2045 2046 2047 2048Starting Balance $1,219,917 $1,265,887 $1,395,451 $1,522,105 $1,628,036 Reserve Income $236,830 $243,935 $251,253 $258,791 $266,555 Interest Earnings $1,243 $1,331 $1,459 $1,575 $1,658 Special Assessments $0 $0 $0 $0 $0Funds Available $1,457,991 $1,511,152 $1,648,163 $1,782,471 $1,896,248Reserve Expenditures $192,104 $115,701 $126,058 $154,435 $209,145Ending Balance $1,265,887 $1,395,451 $1,522,105 $1,628,036 $1,687,103
Yearly Cash Flow
16DRAFT
Yearly Reserve Expenditures - Graph
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
2019
2021
2023
2025
2027
2029
2031
2033
2035
2037
2039
2041
2043
2045
2047
2049
An
nu
al T
ota
ls
Year
17DRAFT
Year ID # Component NameProjected
CostTotal Per Annum
2019 120 Rain Gutters/Downspouts - Repair $2,000121 Heat Trace - Repair/Replace $11,000207 Metal Fencing & Railing - Repaint $5,200215 Siding - Repair/Repaint $19,000403 Asphalt - Crack Fill $3,750703 Commercial Water Heaters - Replace $16,000704 Hot Water Storage Tank - Large - Inspect/Repair $2,000713 Pool Door Winch - Repair/Replace $2,000901 Fire Protection System - Renovate $75,0001104 Pool Heater - 2003 - Replace $5,5001405 Furniture - Replace $5,5001407 Cardio Equipment - 2009 - Replace $8,0001409 Sauna Room - Remodel $10,0001413 Restrooms - Pool Area - Remodel $25,0001501 Carpeting - Floors 1 & 2 - Replace $35,0001904 Snow Plow - Replace $3,5001905 Snow Blowers - 2019 - Replace $1,6502301 Sky Lights & Windows - Repair/Replace $5,000 $235,100
2020 403 Asphalt - Crack Fill $3,863704 Hot Water Storage Tank - Large - Inspect/Repair $2,060704 Hot Water Storage Tank - Large - Reline $11,330705 Ductless HVAC System - Replace $5,150707 Elevator - Modernize $164,800710 Emergency Generator - Replace $18,025805 Common Area Signs - Replace $2,060903 Security Camera System - Replace $6,1801111 Pool & Spa Chemical Automation Systems - Replace $8,2401401 Commercial Washers - Replace $13,3901402 Water Softener System - Laundry 2020 - Replace $3,1931421 Telephone Switch - Replace $51,5001501 Carpeting - Floors 3, 4 & 5 - Replace $62,8302301 Sky Lights & Windows - Repair/Replace $5,150 $357,771
2021 120 Rain Gutters/Downspouts - Repair $2,122121 Heat Trace - Repair/Replace $11,670402 Asphalt - Seal Coat $5,305403 Asphalt - Crack Fill $3,978704 Hot Water Storage Tank - Large - Inspect/Repair $2,1221104 Pool Heater - 2009 - Replace $5,8351402 Water Softener System - Laundry 2006 - Replace $3,2892301 Sky Lights & Windows - Repair/Replace $5,305 $39,625
2022 190 Calrods - Replace $2,732290 Metal Roof - Repaint $3,278401 Asphalt - Major Rehab $32,509403 Asphalt - Crack Fill $4,098
Projected Reserve Expenditures by Year
18DRAFT
404 Concrete Pavers - Repair/Replace $3,278704 Hot Water Storage Tank - Large - Inspect/Repair $2,185711 Chiller - Replace $98,345716 Variable Frequency Drive - Replace $3,2781501 Carpeting - Meeting Rooms - Replace $32,7822301 Sky Lights & Windows - Repair/Replace $5,464 $187,949
2023 120 Rain Gutters/Downspouts - Repair $2,251121 Heat Trace - Repair/Replace $12,381403 Asphalt - Crack Fill $4,221702 Boiler - Replace $47,834704 Hot Water Storage Tank - Large - Inspect/Repair $2,251712 Cooling Tower - Replace $67,5311401 Commercial Dryer - Replace $5,0651420 Lobby Fireplace - Replace $6,1902301 Sky Lights & Windows - Repair/Replace $5,628 $153,351
2024 216 Interior Surfaces - Meeting Rooms - Repaint $6,956402 Asphalt - Seal Coat $5,796403 Asphalt - Crack Fill $4,347704 Hot Water Storage Tank - Large - Inspect/Repair $2,3192301 Sky Lights & Windows - Repair/Replace $5,796 $25,214
2025 120 Rain Gutters/Downspouts - Repair $2,388121 Heat Trace - Repair/Replace $13,135207 Metal Fencing & Railing - Repaint $6,209403 Asphalt - Crack Fill $4,478704 Hot Water Storage Tank - Large - Inspect/Repair $2,3881905 Snow Blower - 2017 - Replace $8962301 Sky Lights & Windows - Repair/Replace $5,970 $35,463
2026 216 Interior Surfaces - Hallways - Repaint $19,678403 Asphalt - Crack Fill $4,612704 Hot Water Storage Tank - Large - Inspect/Repair $2,4602301 Sky Lights & Windows - Repair/Replace $6,149 $32,899
2027 120 Rain Gutters/Downspouts - Repair $2,534121 Heat Trace - Repair/Replace $13,934215 Siding - Repair/Repaint $24,069402 Asphalt - Seal Coat $6,334403 Asphalt - Crack Fill $4,750704 Hot Water Storage Tank - Large - Inspect/Repair $2,5341107 Pool Filter - Replace $2,4071121 Pool Furniture - Replace $6,9671501 Carpeting - Floors 1 & 2 - Replace $44,3371903 Riding Mower - Replace $3,8001905 Snow Blowers - 2019 - Replace $2,0902301 Sky Lights & Windows - Repair/Replace $6,334 $120,090
2028 403 Asphalt - Crack Fill $4,893508 Access Control System - Renovate/Replace $33,924704 Hot Water Storage Tank - Large - Inspect/Repair $2,610
1401 Commercial Dryer - Replace $5,871
Total Per Annum
Year Comp ID Component NameProjected
Cost
19DRAFT
1501 Carpeting - Floors 3, 4 & 5 - Replace $79,5912301 Sky Lights & Windows - Repair/Replace $6,524 $133,413
2029 120 Rain Gutters/Downspouts - Repair $2,688121 Heat Trace - Repair/Replace $14,783403 Asphalt - Crack Fill $5,040704 Hot Water Storage Tank - Large - Inspect/Repair $2,6881105 Spa Heater - Replace $6,0481405 Furniture - Replace $7,3921407 Cardio Equipment - 2009 - Replace $10,7511490 Ice Machine - Replace $5,1071904 Snow Plow - Replace $4,7042301 Sky Lights & Windows - Repair/Replace $6,720 $65,919
2030 402 Asphalt - Seal Coat $6,921403 Asphalt - Crack Fill $5,191704 Hot Water Storage Tank - Large - Inspect/Repair $2,768805 Common Area Signs - Replace $2,7681101 Pool & Spa - Resurface $23,5321108 Spa Filter - Replace $2,6301401 Commercial Washers - Replace $17,9952301 Sky Lights & Windows - Repair/Replace $6,921 $68,727
2031 120 Rain Gutters/Downspouts - Repair $2,852121 Heat Trace - Repair/Replace $15,683207 Metal Fencing & Railing - Repaint $7,414403 Asphalt - Crack Fill $5,347704 Hot Water Storage Tank - Large - Inspect/Repair $2,852709 Elevator Cab - Remodel $42,7731104 Pool Heater - 2003 - Replace $7,8421413 Restrooms - Meeting Area - Remodel $27,0892301 Sky Lights & Windows - Repair/Replace $7,129 $118,980
2032 190 Calrods - Replace $3,671290 Metal Roof - Repaint $4,406403 Asphalt - Crack Fill $5,507404 Concrete Pavers - Repair/Replace $4,406704 Hot Water Storage Tank - Large - Inspect/Repair $2,937790 Generator Control Switch - Replace $3,671903 Security Camera System - Replace $8,8111111 Pool & Spa Chemical Automation Systems - Replace $11,7481501 Carpeting - Meeting Rooms - Replace $44,0562301 Sky Lights & Windows - Repair/Replace $7,343 $96,556
2033 120 Rain Gutters/Downspouts - Repair $3,025121 Heat Trace - Repair/Replace $16,638402 Asphalt - Seal Coat $7,563403 Asphalt - Crack Fill $5,672704 Hot Water Storage Tank - Large - Inspect/Repair $3,025
1104 Pool Heater - 2009 - Replace $8,3191905 Snow Blower - 2017 - Replace $1,1342301 Sky Lights & Windows - Repair/Replace $7,563 $52,941
Year Comp ID Component NameProjected
CostTotal Per Annum
20DRAFT
2034 216 Interior Surfaces - Meeting Rooms - Repaint $9,348403 Asphalt - Crack Fill $5,842703 Commercial Water Heaters - Replace $24,927704 Hot Water Storage Tank - Large - Inspect/Repair $3,1162301 Sky Lights & Windows - Repair/Replace $7,790 $51,023
2035 120 Rain Gutters/Downspouts - Repair $3,209121 Heat Trace - Repair/Replace $17,652215 Siding - Repair/Repaint $30,489403 Asphalt - Crack Fill $6,018704 Hot Water Storage Tank - Large - Inspect/Repair $3,2091402 Water Softener System - Laundry 2020 - Replace $4,9751420 Lobby Fireplace - Replace $8,8261501 Carpeting - Floors 1 & 2 - Replace $56,1651905 Snow Blowers - 2019 - Replace $2,6482301 Sky Lights & Windows - Repair/Replace $8,024 $141,214
2036 216 Interior Surfaces - Hallways - Repaint $26,446402 Asphalt - Seal Coat $8,264403 Asphalt - Crack Fill $6,198704 Hot Water Storage Tank - Large - Inspect/Repair $3,3061402 Water Softener System - Laundry 2006 - Replace $5,1241501 Carpeting - Floors 3, 4 & 5 - Replace $100,8242301 Sky Lights & Windows - Repair/Replace $8,264 $158,425
2037 120 Rain Gutters/Downspouts - Repair $3,405121 Heat Trace - Repair/Replace $18,727207 Metal Fencing & Railing - Repaint $8,853403 Asphalt - Crack Fill $6,384590 Lobby Entrance Doors - Replace $30,644704 Hot Water Storage Tank - Large - Inspect/Repair $3,405711 Chiller - Rebuild $47,668716 Variable Frequency Drive - Replace $5,1071121 Pool Furniture - Replace $9,3631903 Riding Mower - Replace $5,1072301 Sky Lights & Windows - Repair/Replace $8,512 $147,175
2038 403 Asphalt - Crack Fill $6,576502 Garage Door - Replace $4,208508 Access Control System - Renovate/Replace $45,591704 Hot Water Storage Tank - Large - Inspect/Repair $3,507712 Cooling Tower - Rebuild $45,5912301 Sky Lights & Windows - Repair/Replace $8,768 $114,241
2039 120 Rain Gutters/Downspouts - Repair $3,612121 Heat Trace - Repair/Replace $19,867402 Asphalt - Seal Coat $9,031403 Asphalt - Crack Fill $6,773704 Hot Water Storage Tank - Large - Inspect/Repair $3,612713 Pool Door Winch - Repair/Replace $3,612901 Fire Protection System - Renovate $135,4581405 Furniture - Replace $9,934
Total Per Annum
Projected Cost
Component NameComp IDYear
21DRAFT
1407 Cardio Equipment - 2009 - Replace $14,4491409 Sauna Room - Remodel $18,0611413 Restrooms - Pool Area - Remodel $45,1531904 Snow Plow - Replace $6,3212301 Sky Lights & Windows - Repair/Replace $9,031 $284,914
2040 403 Asphalt - Crack Fill $6,976704 Hot Water Storage Tank - Large - Inspect/Repair $3,721704 Hot Water Storage Tank - Large - Reline $20,463705 Ductless HVAC System - Replace $9,301805 Common Area Signs - Replace $3,7211401 Commercial Washers - Replace $24,1841421 Telephone Switch - Replace $93,0152301 Sky Lights & Windows - Repair/Replace $9,301 $170,682
2041 120 Rain Gutters/Downspouts - Repair $3,832121 Heat Trace - Repair/Replace $21,077403 Asphalt - Crack Fill $7,185704 Hot Water Storage Tank - Large - Inspect/Repair $3,8321105 Spa Heater - Replace $8,6221490 Ice Machine - Replace $7,2811905 Snow Blower - 2017 - Replace $1,4372301 Sky Lights & Windows - Repair/Replace $9,581 $62,848
2042 190 Calrods - Replace $4,934290 Metal Roof - Repaint $5,921402 Asphalt - Seal Coat $9,868403 Asphalt - Crack Fill $7,401404 Concrete Pavers - Repair/Replace $5,921704 Hot Water Storage Tank - Large - Inspect/Repair $3,9471101 Pool & Spa - Resurface $33,5511107 Pool Filter - Replace $3,7501501 Carpeting - Meeting Rooms - Replace $59,2081503 Tile Flooring - 2011-12 - Replace $148,0192301 Sky Lights & Windows - Repair/Replace $9,868 $292,387
2043 120 Rain Gutters/Downspouts - Repair $4,066121 Heat Trace - Repair/Replace $22,361207 Metal Fencing & Railing - Repaint $10,571215 Siding - Repair/Repaint $38,623403 Asphalt - Crack Fill $7,623704 Hot Water Storage Tank - Large - Inspect/Repair $4,066
1104 Pool Heater - 2003 - Replace $11,1801401 Commercial Dryer - Replace $9,1481501 Carpeting - Floors 1 & 2 - Replace $71,1481905 Snow Blowers - 2019 - Replace $3,3542301 Sky Lights & Windows - Repair/Replace $10,164 $192,302
2044 216 Interior Surfaces - Meeting Rooms - Repaint $12,563403 Asphalt - Crack Fill $7,852704 Hot Water Storage Tank - Large - Inspect/Repair $4,188903 Security Camera System - Replace $12,563
YearTotal Per Annum
Projected Cost
Component NameComp ID
22DRAFT
1111 Pool & Spa Chemical Automation Systems - Replace $16,7501501 Carpeting - Floors 3, 4 & 5 - Replace $127,7202301 Sky Lights & Windows - Repair/Replace $10,469 $192,104
2045 120 Rain Gutters/Downspouts - Repair $4,313121 Heat Trace - Repair/Replace $23,723402 Asphalt - Seal Coat $10,783403 Asphalt - Crack Fill $8,087704 Hot Water Storage Tank - Large - Inspect/Repair $4,313710 Emergency Generator - Replace $37,740
1104 Pool Heater - 2009 - Replace $11,8611108 Spa Filter - Replace $4,0982301 Sky Lights & Windows - Repair/Replace $10,783 $115,701
2046 216 Interior Surfaces - Hallways - Repaint $35,541403 Asphalt - Crack Fill $8,330704 Hot Water Storage Tank - Large - Inspect/Repair $4,443709 Elevator Cab - Remodel $66,639
2301 Sky Lights & Windows - Repair/Replace $11,106 $126,0582047 120 Rain Gutters/Downspouts - Repair $4,576
121 Heat Trace - Repair/Replace $25,167401 Asphalt - Major Rehab $68,066403 Asphalt - Crack Fill $8,580704 Hot Water Storage Tank - Large - Inspect/Repair $4,576
1121 Pool Furniture - Replace $12,5841420 Lobby Fireplace - Replace $12,5841903 Riding Mower - Replace $6,8642301 Sky Lights & Windows - Repair/Replace $11,440 $154,435
2048 402 Asphalt - Seal Coat $11,783403 Asphalt - Crack Fill $8,837508 Access Control System - Renovate/Replace $61,271702 Boiler - Replace $100,154704 Hot Water Storage Tank - Large - Inspect/Repair $4,713
1401 Commercial Dryer - Replace $10,6052301 Sky Lights & Windows - Repair/Replace $11,783 $209,145
Year Comp ID Component NameProjected
CostTotal Per Annum
23DRAFT
Component Evaluation
Comp #: 108
Source of Information:
Best Cost: $0
Worst Cost: $0
Location: Building Roof
Quantity: Approx 28,750 Sq.ft.
Observations:
Research with the client reveals no plans to replace this component.
Life Expectancy: N/A Remaining Life:
Metal Roof - Replace
General Notes:
Page 1 of 68
DRAFT
Comp #: 120
Source of Information: Research with Client
Best Cost: $1,900
Worst Cost: $2,100
Location: Building Roof
Quantity: Approx 855 Linear ft.
Observations:
The rain gutters and downspouts are in working condition. Research with the client reveals this component is maintained yearly and has major repairs performed every 2 years. Remaining life based on current age.
Life Expectancy: 2 Remaining Life: 0
Estimate to repair
Higher estimate
Rain Gutters/Downspouts - Repair
General Notes:
Page 2 of 68
DRAFT
Comp #: 121
Source of Information: Research with Client
Best Cost: $10,000
Worst Cost: $12,000
Location: Building Guttering & Roof
Quantity: Extensive Linear ft.
Observations:
The heat tape is in working condition. Research with the client reveals this component is inspected yearly and repaired or replaced as necessary.
Life Expectancy: 2 Remaining Life: 0
Allowance to repair/replace
Higher allowance
Heat Trace - Repair/Replace
General Notes:
Page 3 of 68
DRAFT
Comp #: 190
Source of Information: Research with Client
Best Cost: $2,000
Worst Cost: $3,000
Location: Building Entrance
Quantity: (1) System
Observations:
The calrods are in working condition. We recommend funding to replace this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 3
Estimate to replace
Higher estimate
Calrods - Replace
General Notes:
Page 4 of 68
DRAFT
Comp #: 207
Source of Information: Research with Client
Best Cost: $5,100
Worst Cost: $5,300
Location: Common Area
Quantity: Approx 695 Linear ft.
Observations:
The painted metal surfaces are in fair to poor condition. We recommend funding to repaint this component approximately every 6 years. Remaining life based on current condition.
Life Expectancy: 6 Remaining Life: 0
Estimate to repaint
Higher estimate
Metal Fencing & Railing - Repaint
General Notes:
Quantity description:
70 Linear ft. - Fencing625 Linear ft. - Railing
695 Linear ft. - Total
Page 5 of 68
DRAFT
Comp #: 215
Source of Information: Research with Client
Best Cost: $18,000
Worst Cost: $20,000
Location: Buildnig Exterior
Quantity: Approx 14,275 Sq.ft.
Observations:
The siding painted surfaces are in fair condition. We recommend funding to repair/repaint this component approximately every 6 - 8 years. Remaining life is based on current age.
Life Expectancy: 8 Remaining Life: 0
Estimate to repair/repaint
Higher estimate
Siding - Repair/Repaint
General Notes:
Page 6 of 68
DRAFT
Comp #: 216
Source of Information: Research with Client
Best Cost: $15,000
Worst Cost: $17,000
Location: Building Interior
Quantity: Approx 41,405 Sq.ft.
Observations:
The interior painted surfaces are in good to fair condition. We recommend funding to repaint this component approximately every 10 years to maintain appearance. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 7
Estimate to repaint
Higher estimate
Interior Surfaces - Hallways - Repaint
General Notes:
Quantity description:
675 Sq.ft. - Arcade Room35,570 Sq.ft. - Hallways5,160 Sq.ft. - Pool Area
41,405 Sq.ft. - Total
Page 7 of 68
DRAFT
Comp #: 216
Source of Information: Research with Client
Best Cost: $5,000
Worst Cost: $7,000
Location: Building Interior
Quantity: Approx 4,350 Sq.ft.
Observations:
The interior painted surfaces are in fair condition. We recommend funding to repaint this component approximately every 10 years to maintain appearance. Remaining life based on current condition.
Life Expectancy: 10 Remaining Life: 5
Estimate to repaint
Higher estimate
Interior Surfaces - Meeting Rooms - Repaint
General Notes:
Quantity description:
830 Sq.ft. - Board Room980 Sq.ft. - Copper Room2,540 Sq.ft. - Silver Room
4,350 Sq.ft. - Total
Page 8 of 68
DRAFT
Comp #: 290
Source of Information: Research with Client
Best Cost: $2,500
Worst Cost: $3,500
Location: Building Roof
Quantity: Approx 28,750 Sq.ft.
Observations:
Research with the client reveals this component will be repainted in 2021. We recommend funding to repaint this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 3
Estimate to repaint
Higher estimate
Metal Roof - Repaint
General Notes:
Page 9 of 68
DRAFT
Comp #: 401
Source of Information: CSL Cost Database
Best Cost: $23,800
Worst Cost: $35,700
Location: Community Parking Area & Street
Quantity: Approx 11,900 Sq.ft.
Observations:
The asphalt surfaces are in fair to poor condition. We recommend funding for a major rehab of this component approximately every 20 - 25 years. Remaining life based on current age.
Life Expectancy: 25 Remaining Life: 3
$2.00/Sq.ft.; Estimate for major rehab
$3.00/Sq.ft.; Higher estimate
Asphalt - Major Rehab
General Notes:
Page 10 of 68
DRAFT
Comp #: 402
Source of Information: Research with Client
Best Cost: $4,500
Worst Cost: $5,500
Location: Community Parking & Street
Quantity: Approx 11,900 Sq.ft.
Observations:
The asphalt seal coat is in poor condition. We recommend funding to seal this component approximately every 3 - 5 years. Remaining life based on current condition.
Life Expectancy: 3 Remaining Life: 2
Estimate for seal coat
Higher estimate
Asphalt - Seal Coat
General Notes:
Page 11 of 68
DRAFT
Comp #: 403
Source of Information: Research with Client
Best Cost: $3,500
Worst Cost: $4,000
Location: Community Parking & Street
Quantity: Approx 11,900 Sq.ft.
Observations:
Research with the client reveals a yearly crack fill is performed.
Life Expectancy: 1 Remaining Life: 0
Estimate for crack fill
Higher estimate
Asphalt - Crack Fill
General Notes:
Page 12 of 68
DRAFT
Comp #: 404
Source of Information: CSL Cost Database
Best Cost: $2,500
Worst Cost: $3,500
Location: Community Pool Deck & Sidewalks
Quantity: Moderate Sq.ft.
Observations:
The concrete is in generally good condition. This component has an extended useful life under normal conditions. We recommend funding to make repairs and partially replace this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 3
Allowance to repair/replace
Higher allowance
Concrete Pavers - Repair/Replace
General Notes:
Page 13 of 68
DRAFT
Comp #: 502
Source of Information: Research with Client
Best Cost: $2,300
Worst Cost: $2,500
Location: Parking Garage Door
Quantity: (1) Garage Door
Observations:
The garage door is in working condition. We recommend funding to replace this component approximately every 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 19
Estimate to replace
Higher estimate
Garage Door - Replace
General Notes:
Page 14 of 68
DRAFT
Comp #: 508
Source of Information: Research with Client
Best Cost: $25,000
Worst Cost: $27,000
Location: Building Exterior & Inteior
Quantity: (1) System
Observations:
The access control system is in working condition. We recommend funding to replace this system approximately every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 9
Estimate to renovate/replace
Higher estimate
Access Control System - Renovate/Replace
General Notes:
Page 15 of 68
DRAFT
Comp #: 590
Source of Information: Research with Client
Best Cost: $17,000
Worst Cost: $19,000
Location: Lobby Entrance
Quantity: (1) Entrance
Observations:
The automatic doors are in working condition. We recommend funding to replace this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 18
Estimate to replace
Higher estimate
Lobby Entrance Doors - Replace
General Notes:
Page 16 of 68
DRAFT
Comp #: 702
Source of Information: Research with Client
Best Cost: $40,000
Worst Cost: $45,000
Location: Mechanical Room
Quantity: (1) Boiler
Observations:
The boiler system is in working condition. We recommend funding to replace this component approximately every 20 - 25 years. Remaining life based on current age and condition.
Life Expectancy: 25 Remaining Life: 4
Estimate to replace
Higher estimate
Boiler - Replace
General Notes:
Page 17 of 68
DRAFT
Comp #: 703
Source of Information: Research with Client
Best Cost: $15,000
Worst Cost: $17,000
Location: Mechanical Room
Quantity: (2) Water Heaters
Observations:
The commercial water heaters are in working condition. We recommend funding to replace this component approximately 12 - 15 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 0
Estimate to replace
Higher estimate
Commercial Water Heaters - Replace
General Notes:
Page 18 of 68
DRAFT
Comp #: 704
Source of Information: Research with Client
Best Cost: $1,900
Worst Cost: $2,100
Location: Mechanical Room
Quantity: (1) Tank
Observations:
The hot water storage tank is in working condition. Research with the Client reveals this component is inspected and repaired yearly.
Life Expectancy: 1 Remaining Life: 0
Estimate to renovate
Higher estimate
Hot Water Storage Tank - Large - Inspect/Repair
General Notes:
Page 19 of 68
DRAFT
Comp #: 704
Source of Information: Research with Client
Best Cost: $10,000
Worst Cost: $12,000
Location: Mechanical Room
Quantity: (1) Tank
Observations:
The hot water storage tank is in working condition. Research with the Client reveals this component is relined approximately every 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 1
Estimate to renovate
Higher estimate
Hot Water Storage Tank - Large - Reline
General Notes:
Page 20 of 68
DRAFT
Comp #: 705
Source of Information: CSL Cost Database
Best Cost: $4,000
Worst Cost: $6,000
Location: Building Interior
Quantity: (1) System
Observations:
The Ductless HVAC System is in working condition. We recommend replacing this component approximately every 20 years. Remaining life based on current condition.
Life Expectancy: 20 Remaining Life: 1
Estimate to replace
Higher estimate
Ductless HVAC System - Replace
General Notes:
Page 21 of 68
DRAFT
Comp #: 706
Source of Information:
Best Cost: $0
Worst Cost: $0
Location: Parking Garage
Quantity: (1) Heater
Observations:
Research with the client reveals this component is replaced as necessary as an operating expense.
Life Expectancy: N/A Remaining Life:
Radiant Heater - Replace
General Notes:
Page 22 of 68
DRAFT
Comp #: 707
Source of Information: CSL Cost Database
Best Cost: $140,000
Worst Cost: $180,000
Location: Building Interior
Quantity: (2) Elevators
Observations:
The elevator is in working condition. We recommend funding to modernize this component approximately every 25 - 30 years. Modernization consists of controller replacement, door package upgrade, and control panel replacement. Remaining life based on current age.
Life Expectancy: 30 Remaining Life: 1
$70,000/Elevator; Estimate to modernize
$90,000/Elevator; Higher estimate
Elevator - Modernize
General Notes:
Page 23 of 68
DRAFT
Comp #: 709
Source of Information: Research with Client
Best Cost: $29,000
Worst Cost: $31,000
Location: Building Interior
Quantity: (2) Elevators
Observations:
The elevator cabs are in good condition. We recommend funding to remodel this component approximately every 15 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 12
Estimate to remodel
Higher estimate
Elevator Cab - Remodel
General Notes:
Page 24 of 68
DRAFT
Comp #: 710
Source of Information: CSL Cost Database
Best Cost: $15,000
Worst Cost: $20,000
Location: Adjacent to Building
Quantity: (1) Generator
Observations:
According to the client the emergency generator is in working condition. Due to minimal use this component has a relatively long life. However we recommend funding to replace this generator approximately every 25 years to ensure the availability of parts and to keep up with modern technology and emission requirements. Perform twice yearly maintenance and weekly exercise program to ensure full life from this component. Remaining life based on current age
Life Expectancy: 25 Remaining Life: 1
Estimate to replace
Higher estimate
Emergency Generator - Replace
General Notes:
Page 25 of 68
DRAFT
Comp #: 711
Source of Information: Research with Client
Best Cost: $27,000
Worst Cost: $29,000
Location: Mechanical Room
Quantity: (1) Chiller
Observations:
The chiller system is in working condition. We recommend funding to rebuild this component approximately every 25 - 30 years. Remaining life based on current age.
Life Expectancy: 30 Remaining Life: 18
Estimate to rebuild
Higher estimate
Chiller - Rebuild
General Notes:
Page 26 of 68
DRAFT
Comp #: 711
Source of Information: Research with Client
Best Cost: $80,000
Worst Cost: $100,000
Location: Mechanical Room
Quantity: (1) Chiller
Observations:
The chiller system is in working condition. We recommend funding to replace this component approximately every 25 - 30 years. Remaining life based on current age and condition.
Life Expectancy: 30 Remaining Life: 3
Estimate to rebuild
Higher estimate
Chiller - Replace
General Notes:
Page 27 of 68
DRAFT
Comp #: 712
Source of Information: Research with Client
Best Cost: $25,000
Worst Cost: $27,000
Location: Adjacent to Building
Quantity: (1) Cooling Tower
Observations:
The cooling tower is in working condition. We recommend funding to rebuild this component approximately 25 - 30 years. Remaining life based on current age and condition.
Life Expectancy: 30 Remaining Life: 19
Estimate to rebuild
Higher estimate
Cooling Tower - Rebuild
General Notes:
Page 28 of 68
DRAFT
Comp #: 712
Source of Information: Research with Client
Best Cost: $50,000
Worst Cost: $70,000
Location: Adjacent to Building
Quantity: (1) Cooling Tower
Observations:
The cooling tower is in working condition. We recommend funding to replace this component approximately 25 - 30 years. Remaining life based on current age and condition.
Life Expectancy: 30 Remaining Life: 4
Estimate to rebuild
Higher estimate
Cooling Tower - Replace
General Notes:
Page 29 of 68
DRAFT
Comp #: 713
Source of Information: Research with Client
Best Cost: $1,900
Worst Cost: $2,100
Location: Mechanical Room
Quantity: (1) Winch
Observations:
The pool door winch is in working condition. We recommend funding to repair/replace this component approximately every 20 - 25 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 0
Estimate to repair/replace
Higher estimate
Pool Door Winch - Repair/Replace
General Notes:
Page 30 of 68
DRAFT
Comp #: 714
Source of Information:
Best Cost: $0
Worst Cost: $0
Location: Building Parking Garage
Quantity: (2) Fans
Observations:
Research with the client reveals this component is maintained as necessary as an operating expense.
Life Expectancy: N/A Remaining Life:
Exhaust Fans - Replace
General Notes:
Page 31 of 68
DRAFT
Comp #: 715
Source of Information:
Best Cost: $0
Worst Cost: $0
Location: Mechanical Room
Quantity: Multiple Pumps
Observations:
Research with the client reveals the pumps are rebuilt and replaced as necessary as an operating expense.
Life Expectancy: N/A Remaining Life:
Pumps - Rebuild/Replace
General Notes:
Page 32 of 68
DRAFT
Comp #: 716
Source of Information: Research with Client
Best Cost: $2,500
Worst Cost: $3,500
Location: Mechanical Room
Quantity: (1) Variable Frequency Drive
Observations:
The variable frequency drive is in working condition. We recommend funding to replace this component approximately every 15 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 3
Estimate to replace
Higher estimate
Variable Frequency Drive - Replace
General Notes:
Page 33 of 68
DRAFT
Comp #: 790
Source of Information: Research with Client
Best Cost: $2,000
Worst Cost: $3,000
Location: Mechanical Room
Quantity: (1) Switch
Observations:
The generator control switch is in working condition. We recommend funding to replace this component approximately every 25 - 30 years. Remaining life based on current age.
Life Expectancy: 25 Remaining Life: 13
Estimate to replace
Higher estimate
Generator Control Switch - Replace
General Notes:
Page 34 of 68
DRAFT
Comp #: 801
Source of Information:
Best Cost: $0
Worst Cost: $0
Location: Building Exterior & Common Area
Quantity: (4) Signs
Observations:
Research with the client reveals this component is replaced as necessary as an operating expense.
Life Expectancy: N/A Remaining Life:
Community Signs - Replace
General Notes:
Page 35 of 68
DRAFT
Comp #: 805
Source of Information: Research with Client
Best Cost: $1,900
Worst Cost: $2,100
Location: Common Area
Quantity: Multiple Signs
Observations:
Research with the client reveals this component will be replaced in 2020. We recommend funding to replace this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 1
Estimate to replace
Higher estimte
Common Area Signs - Replace
General Notes:
Page 36 of 68
DRAFT
Comp #: 901
Source of Information: Research with Client
Best Cost: $74,000
Worst Cost: $76,000
Location: Building Interior
Quantity: (1) System
Observations:
Although the fire protection system is designed to last the life of the community we recommend funding for an allowance to renovate this component approximately every 20 years to ensure proper function and to keep up with current technology and code requirements. Perform regular, professional inspections and repairs as an operating expense. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 0
Allowance to renovate
Higher allowance
Fire Protection System - Renovate
General Notes:
Page 37 of 68
DRAFT
Comp #: 903
Source of Information: Research with Client
Best Cost: $5,000
Worst Cost: $7,000
Location: Building Interior
Quantity: (1) System
Observations:
The security camera system is in working condition. We recommend funding to replace this component approximately every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 1
Estimate to replace
Estimate to replace
Security Camera System - Replace
General Notes:
Page 38 of 68
DRAFT
Comp #: 1101
Source of Information: Research with Client
Best Cost: $16,000
Worst Cost: $18,000
Location: Pool Area
Quantity: (1) Pool
Observations:
The pool and spa surfaces are in good condition. We recommend funding to resurface this component every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 11
Estimate to resurface
Higher estimate
Pool & Spa - Resurface
General Notes:
Page 39 of 68
DRAFT
Comp #: 1104
Source of Information: CSL Cost Database
Best Cost: $5,000
Worst Cost: $6,000
Location: Mechanical Room
Quantity: (1) Heater
Observations:
The pool heater is in working condition. We recommend funding to replace this component approximately every 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 0
Estimate to replace
Higher estimate
Pool Heater - 2003 - Replace
General Notes:
Page 40 of 68
DRAFT
Comp #: 1104
Source of Information: CSL Cost Database
Best Cost: $5,000
Worst Cost: $6,000
Location: Mechanical Room
Quantity: (1) Heater
Observations:
The pool heater is in working condition. We recommend funding to replace this component approximately every 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 2
Estimate to replace
Higher estimate
Pool Heater - 2009 - Replace
General Notes:
Page 41 of 68
DRAFT
Comp #: 1105
Source of Information: CSL Cost Database
Best Cost: $4,000
Worst Cost: $5,000
Location: Mechanical Room
Quantity: (1) Heater
Observations:
The spa heater is in working condition. We recommend funding to replace this component approximately every 12 years. Remaining life is based on current age.
Life Expectancy: 12 Remaining Life: 10
Estimate to replace
Higher estimate
Spa Heater - Replace
General Notes:
Page 42 of 68
DRAFT
Comp #: 1107
Source of Information: CSL Cost Database
Best Cost: $1,700
Worst Cost: $2,100
Location: Mechanical Room
Quantity: (1) Filter
Observations:
The pool filter is in working condition. We recommend funding to replace this component approximately every 12 - 15 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 8
Estimate to replace
Higher estimate
Pool Filter - Replace
General Notes:
Page 43 of 68
DRAFT
Comp #: 1108
Source of Information: CSL Cost Database
Best Cost: $1,700
Worst Cost: $2,100
Location: Mechanical Room
Quantity: (1) Filter
Observations:
The spa filter is in working condition. We recommend funding to replace this component approximately every 12 - 15 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 11
Estimate to replace
Higher estimate
Spa Filter - Replace
General Notes:
Page 44 of 68
DRAFT
Comp #: 1111
Source of Information: CSL Cost Database
Best Cost: $7,000
Worst Cost: $9,000
Location: Mechanical Room
Quantity: (2) Systems
Observations:
The chemical controller systems are in working condition. We recommend funding to replace this component approximately every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 1
$3,500/System; Estimate to replace
$4,500/System; Higher estimate
Pool & Spa Chemical Automation Systems - Replace
General Notes:
Page 45 of 68
DRAFT
Comp #: 1121
Source of Information: Research with Client
Best Cost: $5,000
Worst Cost: $6,000
Location: Pool Area
Quantity: Assorted Pieces
Observations:
The pool furniture is in good to fair condition. We recommend funding an allowance to make replacements to this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 8
Allowance to make replacements
Higher allowance
Pool Furniture - Replace
General Notes:
Page 46 of 68
DRAFT
Comp #: 1401
Source of Information: Research with Client
Best Cost: $4,000
Worst Cost: $5,000
Location: Laundry Room
Quantity: (1) Dryer
Observations:
The commercial laundry equipment is in working condition. We recommend replacing this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 4
Estimate to replace
Higher estimate
Commercial Dryer - Replace
General Notes:
Page 47 of 68
DRAFT
Comp #: 1401
Source of Information: Research with Client
Best Cost: $4,000
Worst Cost: $5,000
Location: Laundry Room
Quantity: (1) Dryer
Observations:
The commercial laundry equipment is in working condition. We recommend replacing this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 9
Estimate to replace
Higher estimate
Commercial Dryer - Replace
General Notes:
Page 48 of 68
DRAFT
Comp #: 1401
Source of Information: Research with Client
Best Cost: $12,000
Worst Cost: $14,000
Location: Laundry Room
Quantity: (2) Washers
Observations:
The commercial laundry equipment is in working condition. We recommend replacing this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 1
Estimate to replace
Higher estimate
Commercial Washers - Replace
General Notes:
Page 49 of 68
DRAFT
Comp #: 1402
Source of Information: Research with Client
Best Cost: $3,000
Worst Cost: $3,200
Location: Laundry Room
Quantity: (1) System
Observations:
The water softener system is in working condition. We recommend funding to replace this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 2
Estimate to replace
Higher estimate
Water Softener System - Laundry 2006 - Replace
General Notes:
Page 50 of 68
DRAFT
Comp #: 1402
Source of Information: Research with Client
Best Cost: $3,000
Worst Cost: $3,200
Location: Laundry Room
Quantity: (1) System
Observations:
The water softener system is in working condition. We recommend funding to replace this component approximately every 15 - 20 years. Remaining life based on current age.
Life Expectancy: 15 Remaining Life: 1
Estimate to replace
Higher estimate
Water Softener System - Laundry 2020 - Replace
General Notes:
Page 51 of 68
DRAFT
Comp #: 1405
Source of Information: Research with Client
Best Cost: $5,000
Worst Cost: $6,000
Location: Building Interior
Quantity: (36) Pieces
Observations:
The furniture is in fair condition. We recommend funding an allowance to make replacements approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 0
Allowance to make replacements
Higher allowance
Furniture - Replace
General Notes:
Quantity description:
6 Lf. - Cabinet, Base / 6 Lf. - Cabinet, Wall6 Lf. Countertop / (2) - Chair / (4) - Chair, Leather(4) - Chair, Padded / (4) - Chair, Tall(1) - Desk, Front / 90 Sq.ft. - Mirror Wall(1) - Sink / (2) - Sofa(1) - Sofa, Leather / (1) - Table, Coffee(1) - Table, End / (2) - Table, Side(1) - Table, Tall / (1) - Table w/ 4 Chairs(1) - Television, Flat Screen / (1) - Television, Old(1) - Wardrobe(36) - Total
Page 52 of 68
DRAFT
Comp #: 1407
Source of Information: Research with Client
Best Cost: $7,000
Worst Cost: $9,000
Location: Fitness Room
Quantity: (3) Pieces
Observations:
The cardio fitness equipment is in working condition. We recommend funding to replace this component approximately every 8 - 10 years. Remaining life based on current age and condition.
Life Expectancy: 10 Remaining Life: 0
Estimate to replace
Higher estimate
Cardio Equipment - 2009 - Replace
General Notes:
Quantity description:
(1) - Precor Elliptical(1) - Precor Recumbent Bike(1) - Precor Treadmill
Page 53 of 68
DRAFT
Comp #: 1409
Source of Information: Research with Client
Best Cost: $9,000
Worst Cost: $11,000
Location: Adjacent to Pool Area
Quantity: (1) Sauna
Observations:
The sauna interior is in fair condition. We recommend refurbishing this component approximately every 15 - 20 years tomaintain appearance. Remaining useful life based on current age.
Life Expectancy: 20 Remaining Life: 0
Estimate to remodel
Higher estimate
Sauna Room - Remodel
General Notes:
Page 54 of 68
DRAFT
Comp #: 1413
Source of Information: Research with Client
Best Cost: $18,000
Worst Cost: $20,000
Location: Adjacent to Meeting Area
Quantity: (2) Restrooms
Observations:
The restrooms are in good condition. We recommend funding to remodel this component approximately every 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 12
$9,000/Restroom; Estimate to remodel
$10,000/Restroom; Higher estimate
Restrooms - Meeting Area - Remodel
General Notes:
Quantity description:Each Restroom:4 Lf. - Countertop / (1) - Mirror480 Sq.ft. - Painted Surfaces / 12 Lf. - Partition(1) - Sink / 140 Sq.ft. - Tile, Floor110 Sq.ft. - Tile, Wall / (1) - Toilet
Men's: + (1) - Urinal
Women's: + 145 Sq.ft. - Painted Surfaces2 Lf. - Partition / (1) - Sink40 Sq.ft. - Tile, Floor / (1) - Toilet
Page 55 of 68
DRAFT
Comp #: 1413
Source of Information: Research with Client
Best Cost: $24,000
Worst Cost: $26,000
Location: Adjacent to Pool Area
Quantity: (2) Restrooms
Observations:
The restrooms are in fair condition. We recommend funding to remodel this component approximately every 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 0
$12,000/Restroom; Estimate to remodel
$13,000/Restroom; Higher estimate
Restrooms - Pool Area - Remodel
General Notes:
Quantity description:Each Restroom:(1) - Mirror / 265 Sq.ft. - Painted Surfaces7 Lf. - Partition / (1) - Sink80 Sq.ft. - Tile, Floor / 75 Sq.ft. - Tile, Wall(1) - ToiletMen's: + (1) - UrinalWomen's: + 135 Sq.ft. - Painted Surfaces10 Lf. Partition / 125 Sq.ft. - Tile, Floor(1) - ToiletOther: (2) - Showers175 Sq.ft. - Pool Area, Floor175 Sq.ft. - Pool Area, Wall
Page 56 of 68
DRAFT
Comp #: 1420
Source of Information: Research with Client
Best Cost: $5,000
Worst Cost: $6,000
Location: Lobby
Quantity: (1) Fireplace
Observations:
The lobby fireplace is in good condition. We recommend funding to replace this component approximately every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 4
Estimate to replace
Higher estimate
Lobby Fireplace - Replace
General Notes:
Page 57 of 68
DRAFT
Comp #: 1421
Source of Information: Research with Client
Best Cost: $49,000
Worst Cost: $51,000
Location: Building Interior
Quantity: (1) System
Observations:
The telephone switch is in working condition. Research with the Client reveals this component should be replace approximately every 20 years. Remaining life based on current age.
Life Expectancy: 20 Remaining Life: 1
Estimate to replace
Higher estimate
Telephone Switch - Replace
General Notes:
Page 58 of 68
DRAFT
Comp #: 1490
Source of Information: Research with Client
Best Cost: $3,700
Worst Cost: $3,900
Location: Common Area
Quantity: (1) Ice Machine
Observations:
The ice machine is in working condition. We recommend funding to replace this component approximately every 10 - 12 years. Remaining life based on current age.
Life Expectancy: 12 Remaining Life: 10
Estimate to replace
Higher estimate
Ice Machine - Replace
General Notes:
Page 59 of 68
DRAFT
Comp #: 1501
Source of Information: Research with Client
Best Cost: $34,000
Worst Cost: $36,000
Location: Building Interior
Quantity: Approx 4,225 Sq.ft.
Observations:
The carpeting is in good to fair condition. We recommend funding to replace this component approximately every 8 - 10years assuming normal use and wear. Remaining life based on current age.
Life Expectancy: 8 Remaining Life: 0
Estimate to replace
Higher estimate
Carpeting - Floors 1 & 2 - Replace
General Notes:
Quantity description:
1,300 Sq.ft. - Hallway Floors 12,925 Sq.ft. - Hallway Floors 2
4,225 Sq.ft. - Total
Page 60 of 68
DRAFT
Comp #: 1501
Source of Information: Research with Client
Best Cost: $60,000
Worst Cost: $62,000
Location: Building Interior, Floors 3, 4 & 5
Quantity: Approx 7,600 Sq.ft.
Observations:
The carpeting is in good to fair condition. We recommend funding to replace this component approximately every 8 - 10years assuming normal use and wear. Remaining life based on current age.
Life Expectancy: 8 Remaining Life: 1
Estimate to replace
Higher estimate
Carpeting - Floors 3, 4 & 5 - Replace
General Notes:
Quantity description:
2,750 Sq.ft. - Hallway Floor 32,700 Sq.ft. - Hallway Floor 42,150 Sq.ft. - Hallway Floor 5
7,600 Sq.ft. - Total
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Comp #: 1501
Source of Information: Research with Client
Best Cost: $30,000
Worst Cost: $30,000
Location: Meeting Room Interiors
Quantity: Approx 3,650 Sq.ft.
Observations:
The carpeting is in fair condition. We recommend funding to replace this component approximately every 8 - 10 years assuming normal use and wear. Remaining life based on current condition.
Life Expectancy: 10 Remaining Life: 3
Estimate to replace
Higher estimate
Carpeting - Meeting Rooms - Replace
General Notes:
Quantity description:
475 Sq.ft. - Board Room1,100 Sq.ft. - Copper Room2,075 Sq.ft. - Silver Room
3,650 Sq.ft. - Total
Page 62 of 68
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Comp #: 1503
Source of Information: CSL Cost Database
Best Cost: $70,000
Worst Cost: $80,000
Location: Building Interior
Quantity: Approx 4,150 Sq.ft.
Observations:
The tile flooring is in good condition. Although this component may reach an extended useful life we recommend funding to replace this component approximately every 30 years to ensure appearance and keep up with current decorative tastes. Remaining life based on current age.
Life Expectancy: 30 Remaining Life: 23
Estimate to replace
Higher estimate
Tile Flooring - 2011-12 - Replace
General Notes:
Quantity description:
355 Sq.ft. - Fitness Room2,285 Sq.ft. - Hallway Floors 1, 2 & 31,510 Sq.ft. - Hallway Floor 4
4,150 Sq.ft. - Total
Page 63 of 68
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Comp #: 1903
Source of Information: CSL Cost Database
Best Cost: $2,900
Worst Cost: $3,100
Location: Garage Maintenance Room
Quantity: (1) Riding Mower
Observations:
The riding mower is in working condition. We recommend funding to replace this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 8
Estimate to replace
Higher estimate
Riding Mower - Replace
General Notes:
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Comp #: 1904
Source of Information: Research with Client
Best Cost: $3,000
Worst Cost: $4,000
Location: Common Area
Quantity: (1) Snow Plow
Observations:
The snow plow is in working condition. We recommend funding to replace this component approximately every 10 years. Remaining life based on current age.
Life Expectancy: 10 Remaining Life: 0
Estimate to replace
Higher estimate
Snow Plow - Replace
General Notes:
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Comp #: 1905
Source of Information: Research with Client
Best Cost: $700
Worst Cost: $800
Location: Garage Maintenance Room
Quantity: (1) Snow Blower
Observations:
The snow blower is in working condition. We recommend funding to replace this component approximately every 8 years. Remaining life based on current age.
Life Expectancy: 8 Remaining Life: 6
Estimate to replace
Higher estimate
Snow Blower - 2017 - Replace
General Notes:
Quantity description:
(1) - Toro 824, 8HP, 24in(1) - Toro Power Clear 210R(1) - Toro Power Clear 721E
(3) - Total
Page 66 of 68
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Comp #: 1905
Source of Information: Research with Client
Best Cost: $1,600
Worst Cost: $1,700
Location: Garage Maintenance Room
Quantity: (1) Snow Blower
Observations:
The snow blowers are in working condition. We recommend funding to replace this component approximately every 8 years. Remaining life based on current age.
Life Expectancy: 8 Remaining Life: 0
Estimate to replace
Higher estimate
Snow Blowers - 2019 - Replace
General Notes:
Quantity description:
(1) - Toro 824, 8HP, 24in(1) - Toro Power Clear 210R(1) - Toro Power Clear 721E
(3) - Total
Page 67 of 68
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Comp #: 2301
Source of Information: Research with Client
Best Cost: $4,000
Worst Cost: $6,000
Location: Building Interior
Quantity: Numerous Skylights
Observations:
The skylights and windows are in good to fair condition. Research with the Client reveals this component is funded on ayearly basis.
Life Expectancy: 1 Remaining Life: 0
Estimate to replace
Higher estimate
Sky Lights & Windows - Repair/Replace
General Notes:
Page 68 of 68
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Glossary of Commonly Used Words And Phrases (Provided by the National Reserve Study Standards of the Community Associations Institute) Cash Flow Method – A method of developing 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 the desired funding goal is achieved. Component – Also referred to as an “Asset.” Individual line items in the Reserve Study developed or updated in the physical analysis. These elements form the building blocks for the Reserve Study. Components typically are: 1) Association responsibility, 2) with limited useful life expectancies, 3) have predictable remaining life expectancies, 4) above a minimum threshold cost, and 5) required by local codes. Component Full Funding – When the actual (or projected) cumulative reserve balance for all components is equal to the fully funded balance. Component Inventory – The task of selecting and quantifying reserve components. This task can be accomplished through on-site visual observations, review of association design and organizational documents, a review of established association precedents, and discussion with appropriate association representatives. Deficit – An actual (or projected reserve balance), which is less than the fully funded balance. Effective Age – The difference between useful life and remaining useful life (UL - RUL). Financial Analysis – The portion of the Reserve Study where current status of the reserves (measured as cash or percent funded) and a recommended reserve contribution rate (reserve funding plan) are derived, and the projected reserve income and expenses over time is presented. The financial analysis is one of the two parts of the Reserve Study. Fully Funded Balance – An indicator against which the actual (or projected) reserve balance can be compared. The reserve balance that is in direct proportion to the fraction of life “used up” of the current repair or replacement cost of a reserve component. This number is calculated for each component, and then summed together for an association total. FFB = Current Cost * Effective Age / Useful Life Fund Status – The status of the reserve fund as compared to an established benchmark, such as percent funded. Funding Goals – Independent of calculation methodology utilized, the following represent the basic categories of funding plan goals:
• Baseline Funding: Establishing a reserve-funding goal of keeping the reserve balance above zero.
• Component Full Funding: Setting a reserve funding goal of attaining and maintaining cumulative reserves at or near 100% funded.
• Threshold Funding: Establishing a reserve funding goal of keeping the reserve balance above a specified dollar or percent funded amount.
Funding Plan – An association’s plan to provide income to a reserve fund to offset anticipated expenditures from that fund.
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Funding Principles – • Sufficient funds when required • Stable contributions through the year • Evenly distributed contributions over the years • Fiscally responsible
GSF - Gross Square Feet Life and Valuation Estimates – The task of estimating useful life, remaining useful life, and repair or replacement costs for the reserve components. LF - Linear Feet Percent Funded – The ratio, at a particular point in time (typically the beginning of the fiscal year), of the actual (or projected) reserve balance to the ideal fund balance, expressed as a percentage. Physical Analysis – The portion of the Reserve Study where the component evaluation, condition assessment, and life and valuation estimate tasks are performed. This represents one of the two parts of the Reserve Study. Remaining Useful Life (RUL) – Also referred to as “remaining life” (RL). The estimated time, in years, that a reserve component can be expected to continue to serve its intended function. Projects anticipated to occur in the current fiscal year have a “0” remaining useful life. Replacement Cost – The cost of replacing, repairing, or restoring a reserve component to its original functional condition. The current replacement cost would be the cost to replace, repair, or restore the component during that particular year. Reserve Balance – Actual or projected funds as of a particular point in time (typically the beginning of the fiscal year) that the association has identified for use to defray the future repair or replacement of those major components that the association is obligated to maintain. Also known as “reserves,” “reserve accounts,” or “cash reserves.” In this report the reserve balance is based upon information provided and is not audited. Reserve Study – A budget-planning tool, which identifies the current status of the reserve fund and a stable and equitable funding plan to offset the anticipated future major common area expenditures. The Reserve Study consists of two parts: The Physical Analysis and the Financial Analysis. Special Assessment – An assessment levied on the members of an association in addition to regular assessments. Governing documents or local statutes often regulate special assessments. Surplus – An actual (or projected) reserve balance that is greater than the fully funded balance. Useful Life (UL) – Also known as “life expectancy.” The estimated time, in years, that a reserve component can be expected to serve its intended function if properly constructed and maintained in its present application of installation.
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