Is the cost worth it? Listed below is the cost per club or storage.
A 4-5 year cumulative increase of HOA dues could be up to 15% without a resident vote? We get told “no special assessment” because that requires a resident vote, a dues increase does not.
The Capital Fund is in a negative status & that means that it will not even reach zero until 1.5 million dollars is added to it. Not to mention this is not valid accounting, what this really means is our asset reserve has 1.5 million less than stated. It has been suggested that the funds to pay for the CC can come from the Asset Reserve. The Asset reserve is under funded and it is not transparent or wise to co-mingle funds. That Asset reserve has to pay for all community projects and unexpected needs.
The RC Group summary does not include the purchase price and all the other expenses already incurred.
Cost Per Club or Storage including purchase price:
The capital portion of the figures is based on Copper Center having 22,600 total square feet. The portion being remodeled in the RC Cost Group Feasibility Study (at a cost of $2,153,941) includes 11,944 square feet and also includes space for Genealogy, Technology and Restrooms.’
SILVER & LAPIDARY – 70 members occupying 1,840sf
Capital portion (1840 sf x $199sf) = $366,160
Reno portion = $455,341
Club TOTAL – $821,341 / Total Per Person – $11,735.73pp
GLASS – 164 members occupying 2,444sf
Capital portion (2444 x $199sf) =$486,356
Reno portion. =$565,278
Club TOTAL – $1,051,634 / Total Per Person – $6412.40pp
SEWING – 190 members occupying 2,130sf
Capital portion (2130 x $199sf). =$423,870
Reno portion. =$340,041
Club TOTAL – $763,911 / Total Per Person – $4020.58pp
TABLE TENNIS
Table Tennis – 1470sf
Capital portion – (1470 x 199/sf) = $292,530
Reno cost – $186,659
Total – $479,189
LOAN ROOM– 1370sf
Capital portion – (1370sf x 199/sf) = $272,630
Reno cost – $183,896
Total – $456,526
COSTUMES – 600sf
Capital portion – (600sf x 199/sf) = $119,400
Reno cost – $78,878
Total – $198,278
TOTAL STORAGE COSTS – $654,804