The JL POA held a Town Hall meeting on Dec 3rd via Zoom with approximately 125 homeowners participating. The presentations focused on plans to address several areas identified in the Resident Survey as needing improvement. An extensive analysis of the areas that need repair and investment, along with estimated expenses, was presented by the Capital Reserve Task Force. An analysis of the reserve account history, an example of how expenditures will be monitored in each category, and finally the payment options for this 3-year special assessment were presented by the Finance Committee. If you were unable to attend, the recording is posted on the website at www.jonathanslandingpoa.com. Below are some FAQs about the Special Assessment.
The JL POA Board of Directors will meet to vote on this matter at their next scheduled meeting on December 15th at 9:00 AM. All JL owners are welcome to attend this meeting via Zoom. You can access the Zoom link in the Meetings section of the JL POA website. Or by clicking here on December 15th at 9:00 a.m.
Frequently Asked Questions about the Special Assessment
Why is Special Assessment needed?
Over the past ten years the Quarterly Assessment amounts have remained basically flat, while the infrastructure aged. Not enough contributions were made to the Reserve Account each quarter to address these issues in an ongoing basis. Therefore, we have now reached a point where many parts of our infrastructure need replacement or extensive repair and there are not sufficient funds available.
What is the Reserve Study Task Force?
The Reserve Study Task Force was formed to review the Reserve Study completed by Armstrong Consulting in 2017 and to provide updates and modifications on the life and replacement of the many components of the common areas.
The Reserve Study Task Force has three near-term goals:
- Determine Immediate Capital Needs
- Recommend Capital Improvements
- Create a proposed 3-year spending plan
The Reserve Study Task Force Future Tasks are:
- Calculate the amount needed to fully fund our reserves
- Calculate annual reserve contributions needed
- Resubmit data to Armstrong to create updated Reserve Study
What is the Reserve Study Task Force recommending as the primary uses for this Special Assessment?
- Repaving of the roads – Estimated $1M
- Replacing the POA irrigation system – pumps, controls, and underground piping – Estimated $2M
- Improving and Repairing Sidewalks and Promenades – Estimated $265K
- Replacement of Lighting - Estimated $200K
- Updating of the North and South Gatehouses – Estimated $260K
- Building a new Security Headquarters at the Central Gate – Estimated $630K
How were the costs estimated?
The Reserve Task Force has relied on our consultants and engineers to assist the Reserve Task Force in determining what assets are at the end of their useful life. The consultants have now projected the costs to repair or replace.
Who conducted the studies?
- Reserve Study-Armstrong and Associates
- Lighting – Smith Engineering Consultants
- Irrigation Pumps and Controls – Masuen Engineering
- Roadways – GFA International
What is the total cost and how much does each homeowner need to pay?
The total cost over 3 years is $6,595,000 or $5,225 per household.
There will be three options for payment:
- $5,225 one-time payment due on January 31, 2021
- $1,833 Annual Payment due on January 31,2021, January 31, 2022, and January 31, 2023
- $458 Quarterly Payment Jan 31,2021 – January 31, 2023 paid at the same time as Quarterly Dues
What is being done to ensure that our Reserve Account is adequately funded in future years?
The Reserve Study Task Force will be submitting their analysis to Armstrong Engineering who will update the Reserve Study. This revised Reserve Study will be used to calculate the balance needed in our reserve account each year. This amount plus any funds needed for Capital Improvement will be reviewed by the Finance Committee. The Finance Committee will make recommendations to the Board each year of the Quarterly Assessment amount needed to fund both operations and the amounts needed for Reserve and Capital Improvements.
What will happen next?
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Town Hall on Jan 28th - A Great Place to Live and Plans for the Future
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Town Hall on Feb 25th - Communicating and Measuring Progress
