Paving Project to Continue
We are happy to advise that after Labor Day the re-paving of the courts will continue. This year the last three courts on the odd side of the community will be completed. (69-91, 93-111 & 113-127)
The cost for this work is far greater than anticipated initially because the roads are being reconstructed to correct drainage deficiencies that have existed since inception.
The cost for the work on these courts will be $121,920.00 to Hillcrest Paving, as well as Professional Engineering fees to have the job overseen by the association’s Engineer.
The additional funding is coming from the surplus money that may not be spent each year for water line breaks. However, this expense is difficult to predict and is budget higher should the need arise for the expense.
As previously advised at our Annual meetings, the Board has unanimously agreed that any surplus funds from the Water Line Repair line in the budget, that is not spent each year, will be transferred into the Long Term Reserves to cover the paving expenses over and above what has been reserved for initially.
The surplus for this from last year was $63,423.00. This money was added to the Road Repaving Reserve Funds, making it possible to totally upgrade the design of our roads, add drainage and repave the road. We are hoping to complete this project next year. The road repaving is the most expensive replacement item in our reserves. We hope that the new roads will have a new life expectancy of approximately 20 years.
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