“I did have one question about the concrete, every 5 years to replace? is it worth extending that number to 10 years or what area of concrete will need to be replaced so often? “
Over 30 years we are reserving $60,000 for concrete. The line item for concrete is a general allowance to replace whatever is necessary every 5 years, At this time, the concrete in the gazebo is in pretty bad condition and we would recommend replacing that as well as a few other cracks in the sidewalk before these areas worsen and cause trip hazards. Based on the area we measured (about 4230 GSF), there is a total of about $60,000 worth of concrete out there at today’s dollars. Concrete has an unpredictable life expectancy, and this is the reason we include an allowance for periodic repairs and replacement, rather than complete replacement every X years. Based on the age of the community, we would recommend keeping the allowance of 8% of the total area every 5 years for now. If that number varies in future years as we update the report, we can adjust it accordingly. Also, this is a rather low-cost item, if we were to make any changes to it, it would have a minimal impact on the recommended Reserve contribution.
