I have often written of the above fund and concerns that I had in the long haul. I have now a different view, after a considerable conversation with LCAM Pat Blunck. We reviewed records showing the last repaving event occurred in the Village in 1998 with the final billing occurring in 1999. That amount was approximately $ 1,000,000.00. We reviewed how the original $ 4,050,000.00 was developed and why it was unnecessary to include cost of living increases for the past few years as that number was approximately a four (4) fold increase over the last paving expenses.
We further discussed that now there is a growing need for a proposal by an engineering firm to estimate the details of how we would scrape and resurface within the next few years, especially since we now are experiencing the 10th anniversary of that repaving project. This would give us a specific project proposal for the bidding process to begin in a timely fashion, with the special attention given to the drainage, and height disadvantages from the last resurfacing.
From this experience, I must admit the Paving concerns and “Reserve” considerations seem to be well in hand and I commend the Team for staying on top if this very important issue.
Ed Black
Friday, August 8, 2008
Paving “Reserve” Fund
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6 comments:
Thank you Ed, the UCO financial statement appears to say the budgeted remaining useful life of the paving is 6 years. Are there intermediate cracking/other treatments?
Also, there are some bad patched areas at the Okeechobee and Haverhill gates that probably need to be completely repaved--if we have the money left to do that.
Thanks Ed, this is good to know and to use in the planning for the next step(s).
The Engineering study should supply the scope of work, the time lines for accomplishing this and an approximate cost using today's pricing.
This also gives us the amount to raise per year in order to accomplish the task before the roadways are in very bad shape.
A big THANK YOU to Pat for his continuing efforts for this village.
The effective life will be automatically addressed by the engineering study, and areas needing immediate repair (where depressions appeared near possible drain pipe areas) will be targeted for repair prior to the repaving project.
I am convinced this "Reserve" fund in on its way to cover all eventualities.
Ed
This may sound like a silly question but does the paving include our parking lots or is that the responsiblility of each association?
Norma try reading both sides of argument Blog 7/23 'Pave or Resurface'.
Ed seems to be on top of it, he said “UCO did take over repaving in total! The Associations are responsible for MAINTENANCE prior to the repaving only, including repairs from leaking vehicles, etc.”
OR go to UCO...
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