The Journey to a Great Future
This article is intended to provide background information, share things we have learned, and describe our decision making process as we move forward. Your Board of Directors is committed to keeping you informed as to what is ahead for the remainder of 2020 and beyond.
Analyze the Current Situation
Our strategic plan focuses on analyzing our current and future needs, then building a plan to create a JL that reflects our shared vision.
What is a Reserve Study and How Do We Use the Information?
A Reserve Study is an engineer’s review of the assets the POA owns and must maintain to determine when an item will fail and need to be replaced. It is one of the tools the community can use to plan the amount of monies needed each year for repairs and replacement.
In 2017 a Reserve Study was initiated by the POA Board and conducted by Armstrong Consulting Inc. This study was a good start. However, like most reserve studies, it did not include all the items that needed replacement on site. Reserve studies are typically updated every 2 to 3 years.
In reviewing the POA Reserve Study, we found some key components were either missing or needed additional thought:
Our concrete sidewalk/ promenade system which is currently under repair was not included in the Reserve Study.
Our 30-year-old irrigation system that is desperately in need of replacement did not include the underground piping as part of the replacement costs.
The Reserve Study outlines major replacement expenses but may not include things like enhancing our landscape entries or adding on any new capital projects.
How are we responding?
The POA BOD has established a task force to evaluate the line items that need to be added into the Reserve Study to give it a more accurate picture. This will give us an indication of the necessary monies needed and the timing for future replacements. We recognize that the Reserve Study must now refine what items need to be placed into the study.
In addition, to stay competitive in the South Florida real estate market and to respond to the critical items identified in our recent survey there are several improvements we believe are critical in the short term. (Years 1-3).
These improvements would include:
- Enhanced entries as directed by the survey of residents last spring. These entries would need improvements to the hardscape (sign, monuments, pavers, and sidewalk) as well as new landscape and irrigation.
- Replacement of the inadequate irrigation system, with an emphasis on water conservation and reduced maintenance costs through a more efficient system.
- Replacement of the end-of-life plant material along our streets and promenade areas.
- Paving our roadways.
Some funds are available in the Reserve Funding; however, additional funds are needed for this work to be completed.
We are focused on a two-step program:
- Prepare a short-term spending plan to fund the near-term improvements we need to do and do not have funds set aside for.
- Update our Reserve Study to get the many needed items in the study with an accurate amount needed to cover the long-term costs
We are now in the process of putting together this plan and will keep you informed of our progress. We are targeting the end of summer/fall 2020 to have this plan completed.
Please be assured your Board is cognizant of where we are in the world today. We will be good stewards of the funds we need to collect and make these decisions based on sound, critical planning.
Continue to follow along with us as we work to create a Jonathan’s that we are proud to call home.