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Home My WebLink About2000-03-08 HC Regular Meeting Agenda Packet POSTED AGENDA HOUSING COMMISSION MARCH 8, 2000 3:30 P.M. NORTH WING CONFERENCE ROOM DECLARATION OF POSTING I,Diana Leal,Senior Office Assistant of the Palm Desert Redevelopment Agency,do hereby declare that the foregoing agenda for the Housing Commission Meeting of Wednesday,March 8,2000 was posted on the bulletin board by the outside entry to the Council Chambers, 73-510 Fred Waring Drive, Palm Desert, on March 1, 2000. Dated: M ch , 00 a , or 0 ice Assistant a Dese d ve opment Agency PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 10, 2000 TO: NOREEN BOUCHARD, OFFICE OF THE CITY Cl. ERK FROM: DIANA LEAL, SENIOR OFFICE ASSISTANT SUBJECT: HOUSING COMMISSION ATTENDANC Attached for your records is: • A copy of the Housing Commission sign-in sheet showing attendance for the Housing Commission Meeting held on March 8, 2000. ��,, Thank you. HOUSING COMMISSION MEETING OF MARCH 8, 2000, 3:30 P.M. NORTH WING CONFERENCE ROOM SIGN-IN SHEET NAME PLEASE SIGN Ben Kurtz, Chair 4 .0--ycjr&---05 Carrie McLeod, Vice Chair C Roger Dash Larry Saindon Leo Sullivan Jim Thorness r;01 Linda Ward 1 ", // Please Print Guest Name Address • HOUSING COMMISSION MEMBERS Bernard"Ben"Kurtz Leo Sullivan 78-969 Lavender Circle 1 Hermosillo Ln. Palm Desert, CA. 92211 Palm Desert, CA. 92260 341-1253 340-5381 Carrie McLeod Lawrence Saindon 392 Tava Lane 77-651 Marlowe Ct. Palm Desert, CA. 92211 Palm Desert, CA. 92211-6207 341-7017(W), 341-1934(H) 772-6858 776-2321 Pager Roger Dash Jim Thorness 38641 Wisteria 72-600 Fred Waring Drive#4006 Palm Desert, CA. 92211 Palm Desert, CA. 92260 345-2077 341-3203 • Linda Ward 73-315 Country Club Dr., #179 Palm Desert, CA. 92260 340-6460 EX-OFFICIO MEMBERS Carlos Ortega, Secretary Teresa La Rocca,Housing Manager Charlene Sumpter, Senior Rehabilitation Construction Specialist Bryce White,Rehabilitation Construction Specialist OTHERS Dennis Coleman Maria Hunt Diana Leal Jim Foley,RPM Terry Parker,RPM Updated 2/28/00 G:\RDA\Diana Leal\WPDOCS\TL\HOUSING.COM\MEMBER.LST • PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 1, 2000 TO: HOUSING COMMISSION MEMBERS FROM: DIANA LEAL, SENIOR OFFICE ASSISTAN• < SUBJECT: NOTICE OF HOUSING COMMISSION MEETING A meeting of the Housing Commission will be held on Wednesday,March 8,2000 at 3:30 p.m. in the North Wing Conference Room. Enclosed is the agenda. Please call me at 776-6349 to let me know if you will be able to attend the meeting because a quorum is necessary in order to conduct business. Thank you for your cooperation in this matter. • PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 1, 2000 TO: JIM FOLEY,VICE PRESIDENT-RPM COMPANY TERRY PARKER,REGIONAL SUPERVISOR- M CO ANY FROM: DIANA LEAL, SENIOR OFFICE ASSISTANT SUBJECT: NOTICE OF HOUSING COMMISSION MEETING You are invited to attend a meeting of the Housing Commission which will be held on Wednesday, March 8,2000 at 3:30 p.m. in the North Wing Conference Room at the City of Palm Desert. Please be prepared to present a report regarding the Housing Authority properties,the Fiscal Year 2000-2001 Housing Authority Budget and the Reserve Study. Attached is an agenda packet. Your attendance is greatly appreciated. POSTED AGENDA �.. 41 a 4, %XHOUSING COMMISSION MEETING ,j-�i��a �e 3:30 P.M. Wednesday, March 8, 2000 North Wing Conference Room ****************************************************************** I. CALL TO ORDER II. ORAL COMMUNICATIONS A. Any person wishing to discuss any item not otherwise on the Agenda may address the Commission at this point by giving his/her name and address for the record. Remarks shall be limited to maximum of five minutes unless additional time is authorized by the Commission. B. This is the time and place for any person who wishes to comment on nonhearing Agenda items. It should be noted that at Commission discretion, these comments may be deferred until such time on the Agenda as the item is discussed. Remarks shall be limited to a maximum of five minutes unless additional time is authorized sot., by the Commission. Sorter III. APPROVAL OF MINUTES Section A A. MINUTES of the Housing Commission meeting of February 9, 2000 IV. INFORMATIONAL ITEMS A. Palm Desert Crime-Free Multi-Housing Newsletter- February, 2000 V. NEW BUSINESS A. Habitat for Humanity - Request(Action Required) Rec: By Minute Motion: Forward to the Redevelopment Agency recommendation to donate land to Habitat for Humanity for construction of a home. Action: 1 B. Mission Statement (Action Required) • Rec: By Minute Motion: Forward to the Housing Authority recommendation to approve the proposed Housing Authority Mission Statement Action: C. Pet Policy(Action Required) Rec: By Minute Motion: Recommendation on current Housing Authority Pet Policy Action: D. RPM Fiscal Year 2000-2001 Housing Authority Budget(Action Required) Rec: By Minute Motion: Forward RPM Fiscal Year 2000-2001 Housing Authority Budget to the Housing Authority for approval 46- Action: E. Mobile Home Park Issues - Portola Palms Mobile Home Park Sale of Lots (Action Required) Rec: By Minute Motion: Forward Sale of Lot #79 to the City Council and the Redevelopment Agency for approval �y Action: Il F. Portola Palms Mobile Home Park Marketing Plan (Action Required) Rec: By Minute Motion: Forward Portola Palms Mobile Home Park Marketing Plan to the Redevelopment Agency for approval Action: slow 2 VI. CONTINUED BUSINESS -NONE VII. REPORTS ]Z A. Reserve Study-Review(Terre) B. 40 Acre Affordable Housing Site-Update (Terre) C. 73-610 Santa Rosa—Palm Village Apartments -Update (Charlene) 3- D. Home Improvement Program Update(Bryce) E. Housing Authority Properties(Terre) 1. Improvements - Carports - Landscaping - Repair/Restriping Parking Lot 2. Smoke Detectors 3. Miscellaneous Correspondence KF. Projects Update(Charlene) VIII. NEXT MEETING DATE - April 12, 2000 IX. ADJOURNMENT 3 • PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 10, 2000 TO: SHEILA R. GILLIGAN, DIRECTOR OF COMMUNITY FAIRS/ CITY CLERK FROM: DIANA LEAL, SENIOR OFFICE ASSISTANT SUBJECT: HOUSING COMMISSION MINUTES Attached is a copy of the minutes for: + Housing Commission Meeting of February 9, 2000 approved at the Housing Commission Meeting held on March 8, 2000. Please submit to the Agency Board. Thank you. cc: Carlos Ortega p•. }. ; t Minutes ° a y '• aO VSING C MMI SIC TT a9�3,.• CONVENE 3:40 p.m., Wednesday, March 8, 2000 ROLL CALL Members Present: Ben Kurtz, Carrie McLeod, Roger Dash, Leo Sullivan, Larry Saindon, Jim Thorness, Linda Ward Members Absent: None Others Present: Carlos Ortega, Teresa La Rocca, Charlene Sumpter, Bryce White, Diana Leal Guest(s): Jim Foley, Vice President RPM Company Terry Parker, Regional Supervisor RPM Company Janet Moore, Finance Department ORAL COMMUNICATIONS None. MINUTES It was moved by L. Sullivan and seconded by C. McLeod to approve the minutes of February 9, 2000. Motion was carried to approve the minutes. INFORMATIONAL A. PALM DESERT CRIME-FREE MULTI-HOUSING ITEMS NEWSLETTER Terre La Rocca said that the information provided is distributed to all the apartment communities in Palm Desert and said that a newsletter will be provided to the Commission on a monthly basis for review. NEW BUSINESS A. HABITAT FOR HUMANITY-REQUEST (ACTION REQUIRED) Rec: By Minute Motion: Forward to the Redevelopment Agency recommendation to donate an Agency-owned single family parcel located on Catalina and known as APN 627-052-010-1 to Habitat for Humanity for construction of a home. Action: It was moved by L. Sullivan and seconded by L. Saindon to forward to the Redevelopment Agency recommendation to approve donation of land to 1 Minutes Mar. 8, 2000 HOUSING COMMISSION NEW BUSINESS Habitat for Humanity with a reasonable timeline set for the (CONTD) completion of construction of the home. Motion carried. B. MISSION STATEMENT (ACTION REQUIRED) Rec: By Minute Motion: Forward to the Housing Authority recommendation to approve the proposed Housing Authority Mission Statement Action: It was moved by L. Saindon and seconded by L. Sullivan to continue the Mission Statement to the next regular meeting to allow staff to make recommended corrections and bring back the Mission Statement to the next meeting for review and action. Motion carried. C. PET POLICY (ACTION REQUIRED) Rec: By Minute Motion: Recommendation on current Housing Authority Pet Policy Action: It was moved by L. Saindon and seconded by L. Sullivan to reaffirm the existing Housing Authority pet policy at the Agency's Housing Authority senior properties which limits the size of pets to a maximum of 20 pounds. Motion unanimously carried. D. RPM FISCAL YEAR 2000-2001 HOUSING AUTHORITY BUDGET (ACTION REQUIRED) Rec: By Minute Motion: Forward RPM Fiscal Year 2000-2001 Housing Authority Budget to the Housing Authority for approval Action: It was moved by L. Saindon and seconded by L. Ward that staff and RPM Company incorporate Minutes Mar. 8, 2000 UOUSI'N( r C©MM SS ONT NEW BUSINESS the following into the preliminary budget: 1) The impact of the (CONTD) results of the reserve studies, 2) The Capital Expenses for One Quail Place and bring the 2000-2001 Housing Authority Budget to next regularly scheduled meeting for further review. Motion carried. E. MOBILE HOME PARK ISSUES - PORTOLA PALMS MOBILE HOME PARK SALE OF LOTS (ACTION REQUIRED) Rec: By Minute Motion: Forward Sale of Lot #79 to the City Council and the Redevelopment Agency for approval Action: It was moved by L. Saindon and seconded by L. Sullivan to forward the sale of lot 79 to the Redevelopment Agency Board and Council for approval. Motion unanimously carried. F. PORTOLA PALMS MOBILE HOME PARK MARKETING PLAN (ACTION REQUIRED) Rec: By Minute Motion: Review of proposed Portola Palms Mobile Home Park Marketing Plan for Ingrid Baddour and Associates Action: It was moved by C. McLeod and seconded by R. Dash to continue with the existing marketing plan and reject the proposed plan that includes further subsidy to prospective buyers. Motion carried. VI. CONTINUED BUSINESS - NONE VII. REPORTS A. RESERVE STUDY - REVIEW (TERRE) Terre said that the Reserve Study will be revised and brought back to the commission for review and approval at its next meeting. Minutes Mar. 8, 2000 EEO/USING GOMMIsSION REPORTS B. 40 ACRE AFFORDABLE HOUSING SITE - UPDATE (TERRE) (CONTD) Terre said that Manny Sanchez of JMS Engineering has submitted a proposal to revise the site plan, per Agency direction, reducing the proposed development to a 20-acres site with a 40-acre overlay. He will be studying the westerly 20 acre of the site to accommodate a 144 unit rental housing project on 10-11 acres and single-family detached units on 9-10 acres. The current thought is that the multi-family units will be located at the northerly portion of the westerly 20 acres and the single- family units along the southerly portion which would be adjacent to existing single-family neighborhood. An overlay of the remaining site would be studied to build out additional single-family detached housing. Mr. Sanchez will be meeting with the Palm Desert Redevelopment Agency to discuss the design parameters and prepare a presentation of the schematic site plan exhibit (to be presented to the Housing Commission for input prior to presentation to the Agency). C. 73-610 SANTA ROSA — PALM VILLAGE APARTMENTS - UPDATE (CHARLENE) Charlene said that the Agency is currently discussing the possibility of purchasing the two properties adjacent to Palm Village Apartments. Terre said that an asbestos survey was performed on the property which found that there was some minor traces of asbestos. If the property is demolished, the asbestos will be encapsuled in order to remove. In addition, staff is still continuing to work with the County of Riverside Economic Development Agency Home Funds. D. HOME IMPROVEMENT PROGRAM UPDATE (BRYCE) Bryce provided an overview of the programs. He said that at this time, grants are available to families who are 50% of the County median income, and 3% loans are available to families who are between 50% and 80% of the County median income with a maximum grant/loan of $7,500. Staff requested input from the Commission with regard to increasing the maximum loan/grant amount from $7,500 to $15,000 so that much needed additional work can be performed on the homes. Staff will prepare a summary of the fund balance available to show how much has been appropriated/expended and what remains to be expended for the next regular scheduled Housing Commission meeting for review and further discussion. Terre noted that the majority of funds currently used for the loan program come from CDBG. Additional funds will have to come from the 20% set aside should an increase be desirable. 4 Minutes Mar. 8, 2000 HOUSING COMMISSION REPORTS E. HOUSING AUTHORITY PROPERTIES (TERRE) (CONTD) 1. IMPROVEMENTS — CARPORTS Desert Pointe - completed Catalina Gardens-to be completed by next week. Las Serenas - completed — LANDSCAPING — ONE QUAIL A landscaping contract has been awarded to Ron Gregory and Associates. At this time he is working on the landscape retrofitting design. As soon as he has preliminary plans to share with the commission they will be presented. — REPAIR/RESTRIPING PARKING LOT A civil engineer has been asked to look at the project. He will prepare a cost estimate to perform the work. When the cost estimate is prepared it will be brought to the Commission for review and action. — SMOKE DETECTORS Terry Parker said that five of the seven properties have been completed. Desert Fire will file a report of what has been completed to date. Las Serenas is scheduled to be done. It should take about 3-5 days to complete. Terry Parker said that they are anticipating that it will take 3-5 weeks to complete all of the Housing Authority projects. I. PROJECTS UPDATE (CHARLENE) • Charlene provided the commission with a projects update report. inquired about the work that is beingperformed R. Dash q by Killer • Bee Storm Removal. Terre La Rocca said that Killer Bee Swarm Removal inspected the traps theyset throughout the property on 5 Minutes Mar. 6, 2000 HOUSING G COMMISSION REPORTS a weekly basis to check the property to ensure that there are no (CONTD) new hives and clear the traps as necessary. All previously found bee hives between walls and throughout the property have been removed. ADJOURNMENT Motion was made by C. McLeod and seconded by R. Dash to adjourn the meeting. Meeting was adjourned at 5:25 p.m. Carlos L. Ortega, Secretary CLO/TLR/dcl 6 ...commis Palm Desert Crime Free -4 iiiii. r m Multi-Housing Newsletter Volume II - Issue 2 • February 2000 C‘ENFiDeacoe Palm Desert Crime Free Multi-Housing Contacts: Sr.Deputy Brent Conley(836-1622)•Officer Bruce Hagerman-776-1024 This issue of the Palm Desert Crime Free Multi-Housing The Program Newsletter was sponsored by: Program THE CITY OF A Roundup of How Owners and Residents are Faring in the Courtroom PALM DESERT The Crime Free Multi-Housing Here is a brief outline of the program • * I * Program is a state of the art crime contents: prevention program designed to reduce Phase I-Management Training(8- crime, drugs, and gangs on apartment hours)Taught by the Police Palm Desert Crime Free properties. This program was first •Crime Prevention Theory Multi-Housing •CPTED Theory T successfully developed at the Mesa .New Resident Screening 4, Oft , } monthly Arizona Police Department in 1992 and •Lease Agreement Issues meetinGgs are has since spread throughout the United •Crime Free Lease Addendum Y held on the States and Canada.The program has been •Key Control and Master Key Use ` thirdFridayimplemented in 38 States, 3 Canadian •On-Going Security Management Provinces, and in over 700 cities and is •Monitoring Criminal Activity of each month at the growing rapidly.The program consists of •Gangs,Drugs,and Crime Prevention •Legal Warnings&Evictions Portola Community Center three phases that must be completed •Working With the Police at 2:00pm. under the supervision of the local police •Community Awareness The Community Center is department. Property managers can located at 45-480 Portola Ave.We become individually certified after Phase II-CPTED-Survey by the Police encourage all owners and completing training in each phase and • Crime Prevention Through the property becomes certified upon Environmental Design Survey managers to attend. (CPTED) successful completion of all three phases. • Minimum door lock standards If you need any additional The anticipated benefits are reduced information or have any questions, compliance inspection exposure to civil liability. • Minimum exterior lighting standards please contact Officer Bruce The program begins with the training evaluation Hagerman at(760)776-1024. of police agency coordinators who will • Key Control procedures evaluation We look forward to administer the program in their city.Each • Landscape maintenance standards seeing you on Crime Free Multi-Housing Coordinator compliance Friday,February 18thi receives 24-hours of intensive training Phase III- Community Awareness and becomes certified as an instructor of Training the program. The Crime Free Program . Annual crime prevention social taught Management Certification Coordinators return to their cities and by property management and police Training Class begin to provide training and certify • Community awareness and continuous The next 8-hour Management apartment properties in their community. participation is encouraged Certification Training Class will be Fully certified properties have reported Full certification permits the right to post held on Wednesday, March 29th. reductions in police calls for service up the Crime Free Program sign and to 70% over previous years. The heart We encourage everyone not advertise membership in the Crime Free certified to attend. For more and soul of the program is in the correct Multi-Housing Program in the print media information or to sign up, contact implementation and use of the Crime Free using the official logo. Officer Bruce Hagerman at Lease Addendum. Source: wPM'wcrimedoctorcorn (760) 776-1024. Page 2 Palm Desert •February 2000 r r What Do We Do When the *!c!A ' o ,. : Tenant is Dealin Dru ? ��- - g by Bob Thorn,Esq. MOW Kimball, Tirey, cPr St. John H. Recentlyalong-standingclientofourfirm seizure of narcotics, testimony of witnesses who requested a letter from our firm dealing observed the activity and confirmation of the illegal with the recurrent concern in the industry of a tenant contraband, as well as a police report authenticated by utilizing their apartment to sell illegal drugs.Specifically arresting officers in court will produce favorable results we are presented with the scenario of a tenant in a of the lessor in trial.Second hand statements that brown residential(or commercial)property that is suspected of baggies were being passed between the parties,tin foil engaging in illegal activity, particularly the sale, use, items, exchange of cash, or the aroma of marijuana, in disposition,manufacture,distribution,control,solicitation the absence of confirmation by a qualified witness or or possession of illegal drugs,controlled substances.What the contraband itself,invites cross-examination in court is the checklist approach to this concern? that may lead the judge to conclude that the lessor has (a) Paper the tenant file, make clear and precise notes not shown, by a preponderance of the evidence (more regarding complaining witnesses, whether the same are likely than not) that nuisance activity has occurred. other residents, management, staff, vendors, or guests, Nuisance is defined in the code as conduct"injurious to with full names,addresses,phone numbers and the usual health, including,but not limited to, the illegal sale of "who,what,when,where,why and how" of the controlled substances. ..(California Civil Code 3479). incident(s)immediately after the event. Given the above fact pattern, if we don't prove it more (b)When the event provides a reasonable suspicion that likely than not that the sale occurred, we will not be successful in removing the tenant from the property. criminal activity is occurring, contact the police department, provide whatever information can be (d) Confirm that there are no hidden agendas being confirmed on personal knowledge of the complainant,and served by the complaints of witnesses. Do we have a ask whether the premises are under surveillance,or will personality conflict that is getting out of hand? These be. This contact should be noted, with the name of the issues become paramount when court action and officer, his telephone number, and the nature of his credibility concerns are center stage. Independent assignment(for example,is he with the"drug abatement corroboration is the key. task force" or does he work in a different division?) (c)Review procedures with staff,employees,and police (c) Review the nature of the tenancy. Is this a month to resource personnel.Are we doing everything we can to month agreement, or a lease for a specific term? educate our people and utilize public programs?Our firm Regardless, either is terminable on three day's notice to will continue to provide seminars on this topic, and quit, given the circumstances rise to the appropriate participation in the "Crime Free Multi-Housing" survey. Programs sponsored by local police departments will (1)If month to month,consider a thirty day notice,given insure current events updating. a reasonable suspicion that this activity is occurring. If a Zero tolerance remains the norm in the apartment lease, what is the date of termination? Are there any industry,regardless of legal inroads into medicinal use options held by the lessees to extend the lease? If the of marijuana. If you have reason to believe there is a lease will be expiring,notify the lessee that it will not be problem in your complex, feel free to give us a call to extended at termination,and they will be required to vacate discuss particulars.Being"drug free" is not just a state the premises. You are not required to give a reason. of mind; it can be a state of reality! Review the hold-over provisions in the lease,to confirm whether prior notice of election not to renew is a Bob Thorn is a partner with Kimball, Tirey, & St. prerequisites, and if so,comply. Contact counsel if any John, and a principal in the firm's Civil Real Estate question. Practice Group. The law firm emphasis is real estate (2)Note that a lease is not easily terminable on suspicion law and represents clients throughout California. Any of drug activity.Forfeiture of a lease is a significant judicial questions in regards to the contents of this article finding, not easily achieved. An arrest on the premises, should be made by calling 1-800-338-6039. I Rudi's Custom Newsletters-1-800-497-7530 PALM DESERT REDEVELOPMENT AGENCY `w MEMORANDUM DATE: FEBRUARY 24, 2000 TO: PALM DESERT HOUSING COMMISSION FROM: TERESA L. LA ROCCA, HOUSING MANAGER RE: HABITAT FOR HUMANITY REQUEST We have received the attached request from Habitat for Humanity requesting the donation of a lot upon which they can build a home in the City of Palm Desert. As you are aware,Habitat has built two homes in the City of Palm Desert,the last one built in 1999 which is now occupied by the Linares family. The Agency holds title to a single-family vacant lot located on Catalina Street. The lot would be suitable for this purpose and staff recommends consideration of donating the lot to Habitat. The Agency purchased the lot in September of 1998 for the sum of $12,000. The Agency's contribution towards the construction of the proposed home would be the donation of the lot. Habitat generates all necessary funds for material and donation of labor for construction of the home. Nor Their target buyer is typically a very low income family. In this case,they have already identified the family of Tony and Sandra Perez. Staff requests consideration and action in order to place this matter on the next available Agency agenda. Respectfully, TERESA L. LA ROCCA Housing Manager TLR:dcl L Habitat for Humanity of the Coachella Valley, Inc. P.O. Box 542 • Indio, California 92202 • (760) 342-2243 • Fax (760) 775-9053 RECEIVED 2000 February 3, 2000 PADET REDE ELO MENTAGENCY The Honorable Buford Crites City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260-2578 Dear Mayor Crites: The Board of Directors of Habitat for Humanity of the Coachella Valley, Inc. respectfully requests the city's consideration for conveying to our affiliate the title to a lot upon which we can build a home with Tony and Sandra Perez, selected prospective homeowners through our program of building simple, decent housing for low income families in need. New Ms Teresa LaRocca,Housing Manager of the Palm Desert Redevelopment Agency, recently indicated that there was a possibility that such a lot might be available in the Palma Village area. We would certainly be most grateful and pleased to be considered as a recipient of a building site in Palma Village or in another similar area. If there are requirements to be met in keeping with your city's policy in granting such requests, please advise and we will proceed with meeting those requirements immediately. Thank you for your kind consideration and support of Habitat for Humanity of the Coachella Valley, Inc. in this way. Very ly yours, Lini Handy, President LH/jcl cc: Ms Teresa LaRocca o I Z V O N J v m II-Ady�' 3/f01 >ar T r.ro it 076DEf r NffS4,r>., v Z 1. 7 le, may, , Z-Ae l l t• N : O • t % ® ® " i ^ ��o H y ter et r✓ r,, er .P ,r, rr or er r:r„ h Z q O ® i J V^ ® H m y *i'. O Q Q `1. w g O +a ru a a 'i ® ® ti ® ® y ••; ki S z W Q ==A Q e ® ® 3 ate® ® - , ; C?: , I err„ , •:,l 0 a : 4 4f • Y O ® • OOO O: . f: a ti ^� � a h �� . t • 4 tw �.00 _ ' '^ ® ® N y O ® h • ti Cr ry ai �.s 4 rr^^ N +'V O ® N :I, Zit' 14..7 , , — 7-,•.,— -, • .. ^^.. S ° O ® R O ® N C- _ . ETA 'il i - " a • 1 m ® ® B i ® ® ` M ®`k ti O i p O © .,, N O © ti J >„ o $000a N. rrw oom ® I• Qo Q Q ti 00 e er - .r o Li r,, >„ ® Oso O, ® � t • + Oba •r a ON . ..r• ..n• • .• • •• -• ^ + 3AV rrr + >h,,.•>,.. •tr W7JS,YEy"N{t.^ -- : — .. x 'I 1 ( . 1 N O J i'L �D 'sla lI'-J I iljl 1.f of i i i i t 1 I PALM DESERT HOUSING AUTHORITY MISSION STATEMENT It is the mission of the Palm Desert Housing Authority(PDHA) to: • Provide affordable,quality housing through the maintenance of our existing units and the development of new units • To create an environment which enables residents to live responsibly and with "Nkrr dignity • To support residents in their effort to achieve home ownership • To honor public housing commitments in a fiscally and ethically responsible manner • To create and maintain public confidence in the PDHA's operations and staff • To ensure that the facilities owned and managed by the PDHA are marketable in the community • To enable the PDHA staff and Commissioners to improve their performance through applicable vision, training, and career development • To establish performance goals that meet or exceed industry standards and that optimize the use of available resources to achieve our performance objectives • To assist the City of Palm Desert,County of Riverside and the State of California in identifying and addressing housing needs COMPANY apartment management services February 1, 2000 Teresa La Rocca, Housing Manager Palm Desert Redevelopment Agency 73-510 Fred Waring Drive Palm Desert, Ca. 92260 RE: Pet Policy Dear Terre: Per your request, here is RPM's reasoning when establishing our company's pet policy. With the exception of our senior communities, it is our policy not to permit dogs in our communities. We do however, permit dogs, less than 20 pounds, at our senior communities. We do not permit oversized dogs for various reasons; taking into consideration the size of the apartment, and the wear and tear oversized dogs cause. The amount of noise is more excessive from large dogs, as well as the intimidation factor many residents have expressed to us in the past. There is the excessive wear to the property, damage to the grounds and landscaping when the dog is not properly monitored. In a recent survey conducted by the on-site staff of twenty-four senior communities throughout Riverside County, eight did not permit dogs of any kind, fifteen permitted dogs under 20 pounds and one allowed dogs up to forty pounds with a very high pet deposit. The communities that were surveyed all stated similar reasons as RPM's for not permitting large dogs. We do realize that there is a percentage of people who do properly care for their dogs, but unfortunately this is not the case with the majority of large dog owners. And since Fair Housing does not permit us to manage by exception, we find it necessary to continue to follow our established policy. Should you require any additional information, please do not hesitate to give me a call. Re ctfully, Te Parker R gional Property Supervisor RPM Company cc: Jimmy Foley, Vice-President, RPM Company LIVE THE DIFFERENCE REGIONAL OFFICE 9320 baseline,suite b•professional building 1 rancho cucamonga, ca 91730 909 483 0348• lax 909 483 2685 r.. ,,Igi „:;:-: _ _. -.-..:- . . ...1`..7.-, A t I: - gir-.1., ,•,.-:•,,..-,• ,-,•.-••., e• 4...5ro•e" 40-...„..,,.. "..„,...• t•,e5tf, - LE006101, --4•.-A-tr.. ,;41%, A ., . ..-- -::::::.1:7 Vr, -,:-. —.:,:.-1.---:- --i. -tf.1.-„t-- --v,k7-4 ,t, ' 7; ,..:. ,\ .,._,, -,xt .---.: 'T• .,;,.i.- ;;;:c; -7- ,-. -1:...;-.-',:_:. 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D N O O O n a) CD CO 0 Q CO a CQ _ CD O •--r 0 > 0 CD D, CO EA -CA -EA � � � � N W cD aza EA EA o CO 0 -, 00 � 0 0 = v CO A N) OD O IV j O = r'* co co W 6) 01 CO N ----I CT CO U) O O N.) 0) 0-) OO N.) p) CT Co C 0- UM CD N O O O EH EA EA b9 EA A EA W W C Cr EA O CO CO CO OO O C") N -coCO -CO 0 Co o0cJl O 6') Ut 00 CO C Q CM CD a, fD Po m cn n � o N S) n O (D ONE QL7AIL PLACE APARTMENTS 2000/2001 Budget proudly managed by rpm company f o NI 0 n N N < n g - $ 8 8 o o S o S I I g g c § a h o o N a o a o 1 8 - a E- a e1 m so eV m N ! e�1 N a v., f m — ev _o v t; �i r Oc's h N — — i e"+1 en — f N en o l— N I N i N r O O O O O O O O O O — N e.1 vet v1 so N m O• s: r. CCC — M el t` co O' r1 O O O O O O O S S O C C C C N O O O O O O O O O O L:: cn CJ ... cn L.' Li: Z — F• ;- Lt7 H _ U L: �. < 0 Z Z z z Li; LU L.% F- C4 a " U la; vl c � g < O CNog2 Z oluF z ec e z z0 F w < Z Uo zLt7 < C OOIO < c=< �c. U ). 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Q er R V V er L ❑ O. .7 = Q Z re 0 en O E}- Cg III Cf. cn Z Z m 0 < LW m •• 0 > en a0 n ii �Xu Z_ 2 a �X < a c _co, U OG > O < OO EE- - ; -a d e t�'-.7 X < `- t LO ad oC O rvn La C7 cZ Ea- < F O Z a pp U a 0 U Z L. U E d = �; y 0 O < F Z ri > O Z < E < F • u $ F Uh U Uu O < F < O c. Z O a ee „j ❑.r: 0 EN s o m a s F F O To' ee4 U `� U O- 0 d • C. c. a 2000/2001 Budget proudly managed by rpm company apartment management services 1 4 r N ... N N i j 1 y O O O. 0' 0 0 0 0 O, 0 0 N 1 0 0 0 0 0 0 0 0 0 0 0 0 0 C N ,.,, O 00 v1 0' < N 00 N , O O No O CC N O' < O O'. 00 — t� — O O. 1 N N — 'O .1 O �, en .0 en .0 O ..000 I — — I rn 00 a M 0 as N Ni N v, O O O O C O O O O o — N en er h 'C N 00 0" .0 N 00 0' o — en ? 'C N o0 0' en— pp 0 0 0 0 0 0 0 O 0 p0 0 0 CC O N 0 0 0 O 0 cn it - 0 } h � L' .c p z � F rz m �, Lu = > CC [.— < z u °c E— Luz v� v EM v uu ; ; U _ tx U N Z F C U Z a`, C.J Cii Z < .. 4y Z < EJJ U F. 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" O x O O N _ O!— u r w m • c L < 2 i...... -0. a O O O O O O O Q O O O O $ 0 O N NN N N O L 0 G C eV C M L v1 C h CZvlts4 (NI -C Vc O v) 0 m O O O O O O O O O O O p N N N N N N N N N N N w O O O C O O O O O O O JD vt R R 7 ? Q R R R R 7 :7 a _ 5 C C d z cn O E- C V H L" `' Li] i_ 0 x Z Ea 2 <a K 2 O > 1.;: OF @i > �t a, °O u: u al c cc Z u cc ). 0 d O Z ¢ a < F ,, v O. ... 'E < < U G i- _ ? -a O a.. cd U U U U Ct C N V u t- F- a Ts 0 1 • Catalina Gardens APARTMENTS 2000/2001 Budget proudly managed by rpm (IP .company 2 0 o C N N O O O o O O O O C O o O O C O O C c c c c .. c c — : C O • 0 0 0000_ o N o n o_ o cp — i o 0o rn vi .i vi t.i a '^ N — c v ") c �./ N N N i. _ O C O O C el in Q v'� NO N oo P so N cc T C — r+1 7 O N m C en — O C O O CV C O O O O O O O O O O C O C O C O O C C .. CA 2 z } Z ["' :� LLB V' _ > z r :, : : x n ZY u U void 5 v . Z Z v c < : Z Z U :o >" :d ` 6i1 G < v < Z - ` Z x v: :- v u ,., } r. JZ < z ,N sc v Z 0 7. 2 _ i 7, < L. V = . 7. < nZauF z = � Z = �Tiptus u uz ; r = - < c c z < < _ = 2 z CZ 3 u 72 ,�. N_ ^ < < < N C _ L — — - o , z c — c C _ N :..I " H o ;O 7 7 C. a 0 . 2 N_ C O N N N O C - 8 0 0 0o 0 0 C 0 0 0 0 0 r- N © N �O N N , x LN M N a 00 N , .- O i, 1 f O - N en Tr ,C n - N n < N o — N N O, n o0 0 v) N v) v1 vl v1 v1 O O O O O N r O O o O O O O O N N N N N N N N N N N N N N N N N N N N ed C < z z _ Z y.75 OC ifH 77 • 4 -7..! 4 C V] co) u -7aZZJ02z i O p ` a a rn y iaJ u G w < ot 7 Z < O F- Z - 0 p Z -3 ? X = v J - cL :ct = z Z D f z } 2 U > a < i= Z C v4 O Z v, < 2 v y O Z O v f f y v u a w O i- C.../ -1 u -1 < = ❑. " ct < :L 7. rsi E ? N } - O�. N r a. 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CD CD CD m x x x x x x x x 5 x x x cc x CD CD CD CD CD CD CD CD CD CD CD M CO X. 7 7 7 7 7 7 7 = 7 7 7 )( C Q m W W C C W =- CD CD CD CD at co co CD a CD CD CD co * CD D O 73 0 a D c _ C) D co C O CD 0 C v E a Z C -13 o a (n D N -i Z O 0 7 o Z c m m cD - m o i a w PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 23, 2000 TO: CITY MANAGER, HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL EXECUTIVE DIRECTOR, HONORABLE CHAIRMAN AND MEMBERS OF THE REDEVELOPMENT AGENCY BOARD FROM: TERESA LA ROCCA, HOUSING MANAGER SUBJECT: PUBLIC HEARING FOR THE SALE OF MOBILE HOME LOT: #79 (APN# 622-351-079-3),LOCATED AT 43-155 PORTOLA AVENUE (PORTOLA PALMS MOBILE HOME PARK) AT FAIR MARKET VALUE RECOMMENDATION 1. That the City Council adopt Resolution No. authorizing Palm Desert Redevelopment Agency to sell mobile home lot #79 (APN# 622-351-079-3) located at 43-155 Portola Avenue (Portola Palms Mobile Home Park) at fair market value. That the Redevelopment.Agency adopt Resolution No. making and finding that the sales price for the lot is not less than its fair market value in accordance with the highest and best use under the Redevelopment Plan for Project Area 1 Amended. BACKGROUND On March 10, 1998 the Portola Palms Mobile Home Park Acquisition Association Board of Directors approved the conveyance of 37 lots from the Acquisition Association to the Redevelopment Agency by Deed in lieu of foreclosure in consideration for full satisfaction of all obligation secured by Deed of Trust dated September 25, 1992(Ring Note)and Deed of Trust dated September 22,1992(Natter Note). The Corporate Grant Deed in favor of the Agency dated February 25, 1998 was recorded on March 31, 1998 by Instrument No. 120533. Health and Safety Code§33433 requires that before any property of the Agency is sold or leased,the conveyance must first be approved by the City Council by resolution at a public hearing. The purpose of the public hearing is to receive public testimony as prescribed by law. Notice of the time and place of the public hearing must be published in a newspaper of general circulation in the community for at least 2 weeks prior to the public hearing. PUBLIC HEARING FOR THE SALE OF MOBILE HOME LOT: #79 (APN# 622-351-079-3) LOCATED AT 43-155 PORTOLA AVENUE )RTOLA PALMS MOBILE HOME PARK) AT FAIR MARKET VALUE age 2 Fair market value was established by an appraisal dated 4/13/98 prepared by R.F. Sweet and Associates which establishes the average price per lot at $22,500 with a minor pricing differential depending on lot orientation within the park. Fair market value of lot#79 herein described is established at $24,500. Funds for payment of taxes and closing costs are available in the housing fund balance account from funds transferred to the Agency from the Portola Palms Mobile Home Acquisition Association at close of escrow. Report required by Health and Safety Code §33433 (a) is attached hereto for your review and information, and has been available to the general public as required by law. REVIEWED AND CONCUR TERESA LA ROCCA Executive Director,RDA using Manager TLR:dcl City Manager v . RESOLUTION NO. `. A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY AUTHORIZING THE SALE OF MOBILE HOME LOT #79 LOCATED AT 43-155 PORTOLA AVENUE (PORTOLA PALMS MOBILE HOME PARK) AT FAIR MARKET VALUE RECITALS: A. Pursuant to Health and Safety Code§33433,the Redevelopment Agency,is required to hold a public hearing before any property of the Agency acquired in whole or in part, directly or indirectly, with tax increment money is sold or leased for development pursuant to the Redevelopment Plan, said sale shall first be approved by the Agency by resolution after public hearing. B. Pursuant to Health and Safety Code §33433 (b), a report shall be made available for inspection by the public no later than the first publication of the first notice of the hearing mandated by subsection(a). A resolution approving the sale shall be adopted and shall contain a finding that the consideration received for the sale of the property is not less than its fair market value the highest and best use under the Redevelopment Plan for Project Area#1 Amended. C. Pursuant to Health and Safety Code §33435,the Agency shall obligate purchaser(s)of real property acquired in redevelopment projects to refrain from restricting the rental, sale, or lease of the property on the basis of race, color, religion, sex, marital status, ancestry, or national origin of any person. NOW,THEREFORE,the Palm Desert Redevelopment Agency hereby finds,determines,resolves and orders as follows: Section 1. A duly noted public hearing in conformity with the requirement of Health and Safety Code §33433 (a)was held on March 23, 2000. Section 2. The Agency finds the consideration received for the sale of the property is not less than its fair market value at the highest and best use under the Redevelopment Plan for Project Area 1, Amended. Section 3.The Grant Deed shall contain language prescribed by Health and Safety Code §33435 as required. Section 4.The Agency hereby authorizes the conveyance of lot#79 at Portola Palms Mobile Home Park for a fair market value. 1 Resolution No. PASSED, APPROVED and ADOPTED this 23`d day of March, 2000. AYES: NOES: ABSENT: ABSTAIN: Mayor ATTEST: Sheila R. Gilligan, City Clerk ti.. 2 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY. OF PALM DESERT, CALIFORNIA AUTHORIZING THE PALM DESERT REDEVELOPMENT AGENCY TO SELL MOBILE HOME LOT#79 LOCATED AT 43-155 PORTOLA AVENUE(PORTOLA PALMS MOBILE HOME PARK) AND MAKING A FINDING THAT THE MONETARY CONSIDERATION RECOVERED FOR THE SALE IS NOT LESS THAN FAIR MARKET VALUE RECITALS: A. Pursuant to Health and Safety Code §33433, the City Council, is required to hold a public hearing before any property of the Agency acquired in whole or in part, directly or indirectly,with tax increment money is sold or leased for development pursuant to the Redevelopment Plan, said sale shall first be approved by the City Council by resolution after public hearing. B. Pursuant to Health and Safety Code §33433 (b)the City Council must make a finding that the price to be paid for the property is not less than its for market value at the highest and best use under the Redevelopment Plan. C. Pursuant to Health and Safety Code §33433 (a), the Agency is required to make available for inspection a report containing: proposed sale; cost to the Agency, value of interest to be sold, sales price for inspection and available to the public. NOW,THEREFORE,the City Council ofthe City of Palm Desert hereby finds,determines,resolves and orders as follows: Section 1. That a duly noted public hearing in conformity with the requirement of Health and Safety Code §33433 (a)was held on March 23, 2000. Section 2. The City Council has reviewed and considered all written and oral comments,questions and concerns regarding the Agency's proposed sale of mobile home lot#79 received prior to and at the public hearing on said sale. Section 3. The City Council accepts and has filed with the Office of the City Clerk, the report required by Health and Safety Code §33433 (a). Section 4.The City Council finds that the price to be paid for the property is not less than fair market value at the highest and best use under the Redevelopment Plan for Project Area 1 Amended. Section 5.The City Council hereby authorizes the Agency to sell the subject lot at fair market value and authorizes the Executive Director of the Agency to execute all required documents to complete the transaction. 1 car Resolution No. PASSED, APPROVED and ADOPTED this 23rd day of March, 2000. AYES: NOES: ABSENT: ABSTAIN: Mayor ATTEST: Sheila R. Gilligan, City Clerk 2 33433 REPORT LOT#79 (APN# 622-351-079-3) LOCATED AT 43-155 PORTOLA AVENUE (PORTOLA PALMS MOBILE HOME PARK) Pursuant to Health and Safety Code §33433 (a) and (b), the Agency provides the following summary: A. Agreement cost to the Agency includes: 1. Estimated acquisition cost plus interest per lot: $32,900 2. Appraised average fair market value of the interest being conveyed through the sale based on an appraisal dated 4/13/98: Lot#79: $22,500 3. The purchase price to be paid by the buyers of lot#79: $24,500 4. Elimination of blight The lot is one (1) of 141 mobile home spaces located at Portola Palms Mobile Home Park, a low and moderate income park developed prior to the 1973 incorporation of the City. The park was converted from private ownership to resident-ownership in 1992 with assistance from the State MPROP Program and the Palm Desert Redevelopment Agency. Thirty seven of the spaces were not purchased by the occupant tenants and are now owned by the Palm Desert Redevelopment Agency. The Agency wishes to sell the spaces to create 100% resident stability of the park,thereby eliminating the vacant spaces scattered throughout the park and encouraging ownership of rental spaces thereby turning total control of the park over to its residents. lirov In rid Baddour & Associates wfommercial Realtors 401 N. Palm Canon Dr. #200 � Palm S rmng s, CA 92262 RECEIVE February 22, 2000 FEB 2 4 2000 LPTABEDEEMEN E RGr Teresa L. LaRocca, Housing Manager Portola Palms Mobile Home Park Palm Desert Redevelopment Agency 35-510 Fred Waring Drive Palm Desert, CA 92260-2578 Re: Portola Palms Mobile Home Park Vacant Lots Sale Dear Terre: Enclosed please find a review of our marketing program and some suggestions. Please do not hesitate to call me if you have any questions regarding the enclosure. 111 Sincerely, GRI i :ADDOUR, CCIM IB/pem encls. • • r r^ e Business: (760)322-9032 Facsimile: (760)327-4549 e-mail: baddour@earthlink.net �, ..: • I rn rid Baddour & Associates commercial Realtors 1401 N. Palm Canyon Dr. #200 Palm Springs, CA 92262 REVIEW OF PORTOLA PALMS MARKETING AND SUGGESTION FOR NEW MARKETING PROGRAM In July 1998, Ingrid Baddour& Associates, a real estate company, entered into an exclusive listing agreement with the Redevelopment Agency of the City of Palm Desert, to market 22 mobile home lots in Portola Palms Mobile Home Park. As part of Ingrid Baddour& Associates' marketing program, the services of Vera Gilles, a sales association with Paul Allen Realty, was engaged to be the on-site sales representative at Portola Palms. In addition to being a licensed real estate agent, Ms. Gilles has a mobile home sales license and contracted with Maple Ridge Mobile Home Dealership in order to facilitate sales of lots, used coaches and new mobile homes. This report summarizes the marketing effort undertaken by Ms. Gilles and Ingrid Baddour& Associates over the last 18 months. Based on Ms. Gilles' experience we are proposing a new approach be taken to market the remaining 18 lots. NArair To date there has been a total of 13 sales by Ms. Gilles in Portola Palms. Of those 13 sales, 3 were vacant lots owned by the Redevelopment Agency, 2 were existing homes and lots owned by the Agency and the 8 remaining sales were resales of private homes and lots in the park. To achieve these sales, Ms. Gilles and Ingrid Baddour& Associates, advertised in the Desert Sun and in the Mobile Home News on an almost continuous basis for the last 18 months. In addition to the advertisements, Ms. Gilles regularly held open house on most weekends, advertising the open houses in the Desert Sun and the Mobile Home News. Last fall, to encourage more interest, Ms. Gilles held a seminar at the park on mobile home ownership. Ms. Gilles scheduled speakers on mobile home financing, moving of mobile homes from one park to another, the advantage of mobile home living and Ms. Gilles spoke on the lot availability and ease of buying a new home along with the associated costs. However, even though the seminar was well attended, no sales occurred. We have done an exhaustive review of the kind and nature of prospects visiting Portola Palms. When we first took the listing we had expected the typical buyers would fall into one of two types. One type would be an older couple or single senior, of moderate income, where the stability of lot ownership, gated community and low association fees would be important. The second owner profile we projected was a lower income family with stable work history, good credit but little available cash for down payment and closing costs. In fact, of these two projections, only the second profile candidate, the lower income family, proved correct. The older, retired candidates looking to live in Palm Desert turned out to be relatively well-off financially with the ability to purchase (NV 414$1314111 Business: (760)322-9032 Facsimile: (760)327-4549 y� I.. • e-mail: baddour@earthlink.net :f., in the more exclusive and expensive mobile home parks such as The Desert Greens or Portola Country Club,both of which are age 55 exclusive parks. Portola Palms being an older park, with minimal amenities and in particular being an all age park, simply did not appeal to this more affluent senior age group. Ms. Gilles continually xperienced the same response regarding both the all age nature, minimal amenities and the aged look to the park from the majority of these prospects. With this in mind, pursuing senior buyers for Portola Palms is obviously not going to work. Younger and more affluent prospects want a site built home and yard or a condominium home, not a mobile home park which they perceive to be something for the poor and elderly. There is a group of eager buyers who Ms. Gilles talked to that would love to own in Portola Palms. Why haven't they bought? Mainly because this group of buyers cannot save sufficient funds to provide the down payment and closing costs to purchase. Most of these prospects are living from paycheck to paycheck with a small savings of a few hundred to $3-4,000. We are proposing the following solution to the problem of removing this mobile home lot inventory from the Agency's books and at the same time responding to providing low income housing assistance. Since low income buyers frequently have excellent credit and work history and can financially qualify for a loan but cannot come up with the down payment and closing costs funds, the Redevelopment Agency can provide the assistance to these buyers through a forgivable grant loan. For instance, if the RDA funded $10,000.00 in down payment and closing costs, then for each year the borrower lived in the home, 10% of the loan would be forgiven. After ten years it is off the books. If the borrower sold the home, then the loan would be paid back on a pro-rata basis. A program like this was used successfully in Phoenix, Arizona. A low income housing project, where the houses were being auctioned off, required the buyer to put up a minimum of$500.00 in buyer funds. If the buyer had the ability to increase participation, then the amount funded by low income housing would be decreased. ttempting to have the borrower pay back the loan or to have an interest accumulation plan will not work where there is little projected appreciation expected. Ms. Gilles has already experienced this difficulty with current owners in Portola Palms where the state had provided purchase lot money with a deferred interest payback. One owner with this type of loan has a deferred payback of over$44,000.00 on a property valued at $32,000.00. We understand that the housing authority would have to secure these funds for the costs of sale. A key element of making this work is a lender willing to work with this type of clientele and both used and new mobile homes. Ms. Gilles has talked to Valley Independent Bank ("VIB") as a community oriented bank, has expressed their willingness to participate as the lender of choice. However, we do need assistance with the costs of sale. Ms. Gilles has also talked to number of dealers regarding the availability of used coaches to keep buyer costs down. This appears a feasible idea and again one the VIB has agreed to fund. We feel that this type of program will not work unless there is an urgency factor based on selling all properties within a short time span. We would propose a significant marketing campaign - "a limited offer"to reach the desired buyers within not more than a 60-day span. The buyers would tour the property, if interested they would fill out a credit application with Ms. Gilles and would then be processed by VIB and the Redevelopment Agency. Hopefully, there will be more buyers than properties. The buyers would be determined by random drawing from qualified candidates. To increase excitement and anticipation, the drawing should be held in Page 2 of 3 conjunction with possibly a barbecue, entertainment, refreshments, kid games, etc. Ideally, press coverage of the event would be available and provide a positive reflection of Palm Desert and the low income housing assistance. Low Ms. Gilles, who would have the primary responsibility for the program, has expressed her willingness to continue her efforts at Portola Palms if the City of Palm Desert's RDA can provide the financial incentive to potential buyers. However, we all must realize that even with Ms. Gilles' very strong sales and marketing efforts and many long hours, Portola Palms has not been a financial success for her. We have also discussed the need previously with you to establish a similar type program to assist existing mobile home owners in moving their coaches into the park. The profile of this person would be a senior citizen, usually a widow or couple who are living in a mobile home and paying exorbitant land lease payments. They would like to move their home to a park where you own your own lot and the expenses are fixed, however, do not have the $3,000 to $10,000 required in order to move a mobile home. Therefore, we would like to set up a program similar to the one outlined above for new home purchases for persons with financial need to receive a grant with the provision that the home stay in Portola Palms Mobile Home Park. Please discuss this at your next board meeting and let us know if this is feasible. Sincerely, 1NG D ADDOUR, CCIM 3/pem Page 3 of 3 i Corporate Office SSOCIATION Local Offices P.O. Box 8637 ESEKVES, I1 1C. Phoenix,AZ GO Calabasas, CA 91372 San Francisco,CA TEL 800/733-1365 Denver,CO FAX 800/733-1581 Honolulu,HI www.ReserveStudy.com Resew.�StudiesforCommunityAssociations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN° .. ._ Iklf!tti. :•4.4*4. ‘..,•„„ . . . '4 tooppOk ...• * j rr, 'r.. IL !.. -„,.. ...5...., . 4 ' .‘. ''• ; ' _ , . , , trifi. "15 '"`" - alts..�t{ •r a`2d s Y-4 sue_ " ,`. :K r Y. t r Y Catalina Gardens Palm Desert, CA For the Period From: January 1, 2000 Through: December 31, 2000 Report# 8204-0 Date Prepared: February 29, 2000 TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY Report #: 8204-0 Property Name: Catalina Gardens Apartments Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $371,907 Recommended Capital Contribution: $5,625/month The Catalina Gardens Apartments is a medium sized 72 unit facility, built in approximately 1993. The facility consists of 18 residential buildings, one office building, and a pool area. At the time of our inspection on 12/3/1999 (exteriors) and 12/14/1999 (interiors), we observed the wood perimeters of the metal carports to have slight warping, and were informed that those surfaces had been recently painted by in-house labor. The roof surfaces showed evidence of tree debris buildup, but not to a dangerous or fire hazard level. In general, the property appeared quiet, pleasant, and in a satisfactory state of maintenance. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (light r••- fixtures, concrete sidewalk repairs, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding has not been designated. You will note we have separated between three roofmg material types (unit tile roofs, unit flat roofs, and carport metal roofs). Note also that our recommended capital contribution set-aside of$5,625/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $371,907 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. This starting balance reflects the current "value" of the deteriorated fraction of the Reserve components. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. `. Association Reserves, Inc. Executive Summary© 8204-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Catalina Gardens Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 201 ASPHALT- RESURFACE 25 18 $31,650 $53,882 202 ASPHALT- SEAL/REPAIR 5 4 $3,813 $4,291 206 ENTRY CONCRETE - REPAIR 20 13 $7,800 $11,455 303 OFFICE HVAC - REPLACE 15 8 $2,125 $2,692 303 UNIT CONDENSOR - REPLACE 15 8 $72,000 $91,207 303 UNIT FURNACE - REPLACE 15 8 $104,400 $132,251 401 AWNINGS - REPLACE 6 0 $5,000 $5,970 403 MAILBOXES - REPLACE 20 13 $3,025 $4,442 404 PATIO FURNITURE - REPLACE 6 4 $3,000 $3,377 601 CARPET- 1/6 REPLACE 1 0 $4,000 $4,120 602 LINOLEUM FLOOR - 1/6 REPLACE 1 0 $2,088 $2,150 803 UNIT WATER HEATER - REPLACE 12 5 $46,800 $54,254 904 KITCHEN COUNTER/CABINET- REPLA 25 18 $140,400 $239,022 908 WINDOW TREATMENTS - REPLACE 15 7 $63,785 $78,448 909 BATHROOM - REFURBISH 18 11 $5,000 $6,921 909 UNIT BATHROOMS - REFURBISH 18 11 $144,000 $199,330 910 OFFICE - REFURBISH 6 2 $1,675 $1,777 912 OFFICE EQUIPMENT- REPLACE 2 1 $2,250 $2,318 920 REFRIGERATORS - PARTIAL REPLACE 1 0 $3,450 $3,554 922 OVENS - PARTIAL REPLACE 1 0 $3,000 $3,090 1107 METAL FENCE/RAIL- REPAINT 5 0 $800 $927 1115 STUCCO - REPAINT 10 5 $36,000 $41,734 1116 WOOD SURFACES - REPAINT 5 0 $14,400 $16,694 1202 POOL- RESURFACE 12 5 $4,150 $4,811 1207 POOL FILTER - REPLACE 10 8 $950 $1,203 4 1208 POOL HEATER - REPLACE 10 2 $2,000 $2,122 1215 POOL DECK - RESURFACE 20 0 $3,700 $6,683 1216 POOL DECK- SEAL 5 5 $1,163 $1,348 1301 FLAT GRAVEL ROOF - REPLACE 12 5 $55,800 $64,687 1304 TILE ROOF - REPAIR 6 0 $13,100 $15,642 1315 METAL CARPORT ROOF - REPLACE 30 23 $26,000 $51,313 1808 TREES -TRIM 6 0 $3,000 $3,582 32 COMPONENTS REQUIRING FUNDING I I ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY I INTRODUCTION, The property described in this Report is an apartment building that has undergone minimal repair or replacement projects since its construction date. This development includes residential facilities, minor recreation facilities (pool), laundry facilities, and covered parking. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2) projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. New Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. °rr. Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. I Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS 411P' The information contained in this study was compiled from a number of sources familiar with the history and operating practices of the building. These included: on-site manager and management company personnel, residents, and City personnel. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. C Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS The Catalina Gardens Apartments is a medium sized 72 unit facility, built in approximately 1993. The facility consists of 18 residential buildings, a central pool area, and an office building .. (including laundry room). At the time of our inspection on 12/3/1999(exteriors) and 12/14/1999 (interiors), we observed the wood perimeters of the metal carports to have slight warping, and were informed that those surfaces had been recently painted by in-house labor. The roof surfaces showed evidence of tree debris buildup, but not to a dangerous or fire hazard level. In general, the property appeared quiet, pleasant, and in a satisfactory state of maintenance. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (light fixtures, all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. You will note we have separated between the three roofing material types (unit tile roofs, unit flat roofs, and carport metal roofs). Note also that our recommended capital contribution set- aside of$5,625/month during Fiscal 2000 presumes a starting Reserve Cash Balance of$371,907 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. The expenditures for future years can be summarized as follows: First five years: $122,907 5 to 10 years: $608,024 10 - 15 years: $385,279 15 - 20 years: $672,122 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. I Association Reserves, Inc. 4 Capital Replacement Plan r ^ O a\ CC c t_- 41_ N I- W \ \u\\\\\\\\\\\\��\\�\\\\\\\\\\\\\\\\\\\\\\\' o N zCO I\ CV 0 \\\\\\\O\\\\\\�\\\\\\\\00\\\\\\�\\\\\ X m u CV - W ....„ - .: W a) &-\1 m - . N > 4-- M.\NI."‘1. \NMI CC 0 \\\\ in W 0 t N Cn W � � o> \\� o cc Q N O O 0 0 0 0 0 0 O O O O O O O O o o O O O co O Ef} I- Co Ln d' co N r Ef} Efl ka• ka ka {�} ka lir (spuesnoq ) S1`d1O1 1dfl N NV 8204-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Catalina Gardens Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 201 ASPHALT-RESURFACE Approx 31650 Sq Ft 25 18 $25,300 $38,000 202 ASPHALT-SEAL/REPAIR Approx 31650 Sq Ft 5 4 $3,150 $4,475 206 ENTRY CONCRETE-REPAIR Approx 650 Sq Ft 20 13 $6,500 $9,100 303 OFFICE HVAC-REPLACE Furnace + Condenser 15 8 $1,750 $2,500 303 UNIT CONDENSOR-REPLACE (72)Condenser 15 8 $54,000 $90,000 303 UNIT FURNACE-REPLACE (72)Water-type units 15 8 $86,400 $122,400 401 AWNINGS-REPLACE (20)total,blue 6 0 $4,000 $6,000 403 MAILBOXES-REPLACE (80)total boxes 20 13 $2,400 $3,650 404 PATIO FURNITURE-REPLACE (16)Total pieces 6 4 $2,400 $3,600 601 CARPET-1/6 REPLACE Approx 2400 Sq Yds 1 0 $3,600 $4,400 602 LINOLEUM FLOOR-1/6 REPLACE Approx 960 Sq Yd 1 0 $1,925 $2,250 803 UNIT WATER HEATER-REPLACE (72)40 Gal 38000 BTU 12 5 $36,000 $57,600 904 KITCHEN COUNTER/CABINET-REPLAC Approx 1560 Linear Ft 25 18 $124,800 $156,000 908 WINDOW TREATMENTS-REPLACE (7290)Sq Ft, Blinds 15 7 $58,320 $69,250 909 BATHROOM-REFURBISH (2),M&W 18 11 $4,000 $6,000 909 UNIT BATHROOMS-REFURBISH (72)5x9 Bathrooms 18 11 $129,600 $158,400 910 OFFICE-REFURBISH (1)Approx 150 Sq Ft 6 2 $1,250 $2,100 912 OFFICE EQUIPMENT-REPLACE Computer,copier,FAX. 2 1 $2,000 $2,500 920 REFRIGERATORS-PARTIAL REPLACE (72) 18 c.f.GE models 1 0 $3,000 $3,900 922 OVENS-PARTIAL REPLACE (71)4-burner stoves 1 0 $2,700 $3,300 1107 METAL FENCE/RAIL-REPAINT Approx 195 Linear Ft 5 0 $700 $900 1115 STUCCO-REPAINT Approx 51400 Sq Ft 10 5 $32,400 $39,600 1116 WOOD SURFACES-REPAINT Minimal total Sq Ft 5 0 $10,800 $18,000 1202 POOL-RESURFACE (1)Approx 40 x 15 12 5 $3,500 $4,800 1207 POOL FILTER-REPLACE (1) Hayward 60 Sq Ft 10 8 $800 $1,100 1208 POOL HEATER-REPLACE (1) Hayward 280,000 BTU 10 2 $1,800 $2,200 1215 POOL DECK-RESURFACE Approx 925 Sq Ft 20 0 $2,775 $4,625 1216 POOL DECK-SEAL Approx 925 Sq Ft 5 5 $925 $1,400 1301 FLAT GRAVEL ROOF-REPLACE Approx 22550 Sq Ft 12 5 $49,600 $62,000 1304 TILE ROOF-REPAIR Approx 26200 Sq Ft 6 0 $10,500 $15,700 1315 METAL CARPORT ROOF-REPLACE (8)total,6500 Sq Ft 30 23 $22,750 $29,250 1808 TREES-TRIM Extensive trees 6 0 $2,500 - $3,500 32 COMPONENTS REQUIRING FUNDING 1 I I i i 1 ASSOCIATION RESERVES, INC. PAGE 6 8204-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $371,907 $398,409 $465,647 $535,048 $609,798 $683,363 $578,926 Annual Contribution $67,500 $69,525 $71,611 $73,759 $75,972 $78,251 $80,599 Interest Earnings $11,539 $12,944 $14,991 $17,150 $19,372 $18,909 $18,223 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $450,946 $480,878 $552,248 $625,957 $705,142 $780,524 $677,748 # Expenditures 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 $0 202 ASPHALT-SEALJREPAIR $0 $0 $0 $0 $4,291 $0 $0 206 ENTRY CONCRETE-REPAIR $0 $0 $0 $0 $0 $0 $0 303 OFFICE HVAC-REPLACE $0 $0 $0 $0 $0 $0 $0 303 UNIT CONDENSOR-REPLACE $0 $0 $0 $0 $0 $0 $0 303 UNIT FURNACE-REPLACE $0 $0 $0 $0 $0 $0 $0 401 AWNINGS-REPLACE $5,000 $0 $0 $0 $0 $0 $5,970 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $0 $3,377 $0 $0 601 CARPET-1/6 REPLACE $4,000 $4,120 $4,244 $4,371 $4,502 $4,637 $4,776 602 LINOLEUM FLOOR-1/6 REPLACE $2,088 $2,150 $2,215 $2,281 $2,349 $2,420 $2,493 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $54,254 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 $0 909 UNIT BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 $0 910 OFFICE-REFURBISH $0 $0 $1,777 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $2,318 $0 $2,459 $0 $2,608 $0 920 REFRIGERATORS-PARTIAL REPLA $3,450 $3,554 $3,660 $3,770 $3,883 $3,999 $4,119 922 OVENS-PARTIAL REPLACE $3,000 $3,090 $3,183 $3,278 $3,377 $3,478 $3,582 1107 METAL FENCE/RAIL-REPAINT $800 $0 $0 $0 $0 $927 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $41,734 $0 1116 WOOD SURFACES-REPAINT $14,400 $0 $0 $0 $0 $16,694 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $4,811 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $2,122 $0 $0 $0 $0 1215 POOL DECK-RESURFACE $3,700 $0 $0 $0 $0 $0 $0 1216 POOL DECK-SEAL $0 $0 $0 $0 $0 $1,348 $0 1301 FLAT GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $64,687 $0 1304 TILE ROOF-REPAIR $13,100 $0 $0 $0 $0 $0 $15,642 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $3,000 $0 $0 $0 $0 $0 $3,582 Total Expenditures $52,538 $15,231 $17,200 $16,159 $21,779 $201,598 $40,165 ASSOCIATION RESERVES, INC. PAGE 7 8204-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $637,583 $643,151 $500,431 $580,426 $646,651 $531,008 Annual Contribution $83,016 $85,507 $88,072 $90,714 $93,436 $96,239 Interest Earnings $19,186 $17,131 $16,191 $18,382 $17,642 $16,842 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $739,785 $745,789 $604,695 $689,522 $757,729 $644,089 # Expenditures 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $4,974 $0 $0 $0 206 ENTRY CONCRETE-REPAIR $0 $0 $0 $0 $0 $0 303 OFFICE HVAC-REPLACE $0 $2,692 $0 $0 $0 $0 303 UNIT CONDENSOR-REPLACE $0 $91,207 $0 $0 $0 $0 303 UNIT FURNACE-REPLACE $0 $132,251 $0 $0 $0 $0 401 AWNINGS-REPLACE $0 $0 $0 $0 $0 $7,129 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $4,032 $0 $0 601 CARPET-1/6 REPLACE $4,919 $5,067 $5,219 $5,376 $5,537 $5,703 602 LINOLEUM FLOOR-1/6 REPLACE $2,567 $2,644 $2,724 $2,805 $2,890 $2,976 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $78,448 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $6,921 $0 909 UNIT BATHROOMS-REFURBISH $0 $0 $0 $0 $199,330 $0 910 OFFICE-REFURBISH $0 $2,122 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $2,767 $0 $2,936 $0 $3,115 $0 920 REFRIGERATORS-PARTIAL REPLA $4,243 $4,370 $4,501 $4,637 $4,776 $4,919 922 OVENS-PARTIAL REPLACE $3,690 $3,800 $3,914 $4,032 $4,153 $4,277 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $1,075 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $19,352 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $1,203 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $2,852 1215 POOL DECK-RESURFACE $0 $0 $0 $0 $0 $0 1216 POOL DECK-SEAL $0 $0 $0 $1,562 $0 $0 1301 FLAT GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $18,677 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $0 $0 $4,277 Total Expenditures $96,634 $245,358 $24,269 $42,871 $226,720 $50,811 ASSOCIATION RESERVES, INC. PAGE 8 8204-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $593,279 $673,773 $770,240 $794,221 $903,030 $839,823 Annual Contribution $99,126 $102,100 $105,163 $108,318 $111,567 $114,914 Interest Earnings $18,981 $21,632 $23,436 $25,425 $26,108 $21,942 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $711,385 $797,504 $898,838 $927,963 $1,040,706 $976,679 # Expenditures 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $53,882 202 ASPHALT-SEAL/REPAIR $0 $5,767 $0 $0 $0 $0 206 ENTRY CONCRETE-REPAIR $11,455 $0 $0 $0 $0 $0 303 OFFICE HVAC-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT CONDENSOR-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT FURNACE-REPLACE $0 $0 $0 $0 $0 $0 401 AWNINGS-REPLACE $0 $0 $0 $0 $0 $8,512 403 MAILBOXES-REPLACE $4,442 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $4,614 $0 $0 601 CARPET-1/6 REPLACE $5,874 $6,050 $6,232 $6,419 $6,611 $6,810 602 LINOLEUM FLOOR-1/6 REPLACE $3,066 $3,158 $3,252 $3,350 $3,450 $3,554 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $77,353 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $239,022 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 - $0 $0 $0 $0 $0 909 UNIT BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 910 OFFICE-REFURBISH $0 $2,534 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $3,304 $0 $3,505 $0 $3,719 $0 920 REFRIGERATORS-PARTIAL REPLA $5,066 $5,218 $5,375 $5,536 $5,702 $5,873 922 OVENS-PARTIAL REPLACE $4,406 $4,538 $4,674 $4,814 $4,959 $5,107 1107 METAL FENCE/RAIL-REPAINT $0 $0 $1,246 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $56,087 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $22,435 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $6,859 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $1,617 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1215 POOL DECK-RESURFACE $0 $0 $0 $0 $0 $0 1216 POOL DECK-SEAL $0 $0 $1,811 $0 $0 $0 1301 FLAT GRAVEL ROOF-REPLACE $0 $0 $0 $0 $92,229 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $22,302 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $0 $0 $5,107 Total Expenditures $37,613 $27,264 $104,618 $24,933 $200,883 $351,787 ASSOCIATION RESERVES,INC. PAGE 9 8204-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $624,892 $730,949 $814,103 $938,416 $940,071 $664,493 Annual Contribution $118,362 $121,913 $125,570 $12,9,337 $133,217 $137,214 Interest Earnings $20,311 $23,145 $26,253 $28,140 $24,037 $21,140 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $763,565 $876,007 $965,925 $1,095,893 $1,097,325 $822,846 # Expenditures 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $6,685 $0 $0 $0 $0 $7,750 206 ENTRY CONCRETE-REPAIR $0 $0 $0 $0 $0 $0 303 OFFICE HVAC-REPLACE $0 $0 $0 $0 $4,194 $0 303 UNIT CONDENSOR-REPLACE $0 $0 $0 $0 $142,098 $0 303 UNIT FURNACE-REPLACE $0 $0 $0 $0 $206,042 $0 401 AWNINGS-REPLACE $0 $0 $0 $0 $0 $10,164 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $5,748 $0 $0 601 CARPET-1/6 REPLACE $7,014 $7,224 $7,441 $7,664 $7,894 $8,131 602 LINOLEUM FLOOR-1/6 REPLACE $3,660 $3,770 $3,883 $4,000 $4,120 $4,243 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $122,219 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 909 UNIT BATHROOMS-REFURBISH $0 $0 - $0 $0 $0 $0 910 OFFICE-REFURBISH $0 $3,025 • $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $3,945 $0 $4,186 $0 $4,441 $0 920 REFRIGERATORS-PARTIAL REPLA $6,050 $6,231 $6,418 $6,611 $6,809 $7,013 922 OVENS-PARTIAL REPLACE $5,261 $5,418 $5,581 $5,748 $5,921 $6,098 1107 METAL FENCE/RAIL-REPAINT $0 $1,445 $0 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $26,008 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 i 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $3,832 $0 $0 1215 POOL DECK-RESURFACE $0 $6,683 $0 $0 $0 $0 1216 POOL DECK-SEAL $0 $2,100 $0 $0 $0 $0 1301 FLAT GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $26,630 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $51,313 $0 1808 TREES-TRIM $0 $0 $0 $0 $0 $6,098 Total Expenditures $32,615 $61,904 $27,509 $155,822 $432,832 $76,128 ASSOCIATION RESERVES, INC. PAGE 10 1 1 8204-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $746,718 $770,174 $910,267 $1,056,824 $1,207,456 $749,313 Annual Contribution $141,330 $145,570 $149,937 $154,435 $159,068 $163,840 Interest Earnings $22,723 $25,173 $29,467 $33,919 $29,313 $23,437 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $910,772 $940,918 $1,089,671 $1,245,178 $1,395,837 $936,591 # Expenditures 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $0 $8,984 $0 206 ENTRY CONCRETE-REPAIR $0 $0 $0 $0 $0 $0 303 OFFICE HVAC-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT CONDENSOR-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT FURNACE-REPLACE $0 $0 $0 $0 $0 $0 401 AWNINGS-REPLACE $0 $0 $0 $0 $0 $12,136 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $6,864 $0 $0 601 CARPET-1/6 REPLACE $8,375 $8,626 $8,885 $9,152 $9,426 $9,709 602 LINOLEUM FLOOR-1/6 REPLACE $4,371 $4,502 $4,637 $4,776 $4,919 $5,067 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $110,287 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $11,783 $0 909 UNIT BATHROOMS-REFURBISH $0 $0 $0 $0 $339,345 $0 910 OFFICE-REFURBISH $0 $3,612 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $4,711 $0 $4,998 $0 $5,302 $0 920 REFRIGERATORS-PARTIAL REPLA $7,224 $7,440 $7,663 $7,893 $8,130 $8,374 922 OVENS-PARTIAL REPLACE $6,281 $6,470 $6,664 $6,864 $7,070 $7,282 1107 METAL FENCE/RAIL-REPAINT $1,675 $0 $0 $0 $0 $1,942 1115 STUCCO-REPAINT $75,376 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $30,150 $0 $0 $0 $0 $34,953 1202 POOL-RESURFACE $0 $0 $0 $0 $9,780 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $2,174 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1215 POOL DECK-RESURFACE $0 $0 $0 $0 $0 $0 1216 POOL DECK-SEAL $2,434 $0 $0 $0 $0 $2,822 1301 FLAT GRAVEL ROOF-REPLACE $0 $0 $0 $0 $131.496 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $31,797 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $0 $0 $7,282 Total Expenditures $140,597 $30,651 $32,847 $37,722 $646,524 $121,363r ASSOCIATION RESERVES, INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 103 CONCRETE DECK/WALK- REPAIR Quantity: Extensive Sq Ft Location: Scattered locations through common areas of property Evaluation: Generally sturdy, minor local staining, no significant cracking or upheaval. Expect only very minor repairs in future years, not significant for capital Reserve planning. .e,,.,„„iviikk i Sit.- ��1 ... Useful Life: i`',, • •.i � y ,. , Remaining Life: ? , ,:, -. H , ; • I. 1 Best Case: Worst Case: Cost Source: Comp#: 201 ASPHALT-RESURFACE valid Quantity: Approx 31650 Sq Ft Location: Driveway and parking areas through property. Evaluation: Intact, minor sloping so it sheds water successfully. No unevenness or potholes. Appears structurally sound at this time. .,..„ , iii Useful Life: t f I` — • •( - �" 25 years sa; !; 3 .. '% oot Remaining Life: 18 years `, jr_ _... „,,,..� - , - .. ..1.,,,,,, ,._.._.,....-,f4- ,_!;.#rz,.rwoy-_f-,:,,,,-,,,,.L. , . .,.„.. .r,,,, ror. -AI .-..r-';‘, ,. ,., z.' -7,r- - .-_,.,; � ' -' Best Case: $25,300.00 Worst Case: $38,000.00 Lower estimate to resurface this parking lot area, Higher estimate,$1.20/Sq Ft $.80/Sq Ft Cost Source:ARI Cost Database void February 29,2000 Page 1 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 202 ASPHALT-SEAL/REPAIR Quantity: Approx 31650 Sq Ft Location: Driveways and parking areas through property. Evaluation: Dry at this time. Minor cracking,painted lines have faded. Minor loss of surface emulsion. No significant alligatoring,but significant dryness. Anticipate new seal coat in early 2000. _ 4 Useful Life: _ ' 5 years Remaining Life: 4 years Best Case: $3,150.00 Worst Case: $4,475.00 Lower estimate to clean, repair as necessary,and Higher estimate, $.14/Sq Ft seal: $.10/Sq Ft Cost Source:ARI Cost Database siv Comp#: 206 ENTRY CONCRETE-REPAIR Quantity: Approx 650 Sq Ft Location: Entry drive area Evaluation: Structurally sound at this time. No significant damage or staining, only minor surface cracking. Anticipate the eventual need to totally replace. Useful Life: ;; • 20 years ., .':, `' e Remaining Life: ., �s' dew ' woo 13 years , f ,4111P40.7011111 ; I11. f k' a Best Case: $6,500.00 Worst Case: $9,100.00 Lower estimate to remove and replace,$10/Sq Ft Higher estimate, $14/Sq Ft air Cost Source:ARI Cost Database February 29,2000 Page 2 of 22 Association Reserves, Inc. Inventory Appendix Client: 82O4A Catalina Gardens Apartments Comp#: 303 OFFICE HVAC- REPLACE ' Quantity: Furnace+Condenser Location: Furnace in closet with water heater,condensor on ground adjacent to bldg. Evaluation: Components appeared generally clean. Not new, but no advanced deterioration noted. York brand condenser similar to those of individual units. Useful Life: •Y 13a. Y 15 years : x Remaining Life: . g 8 years 1 ,, ',,�- o Best Case: $1,750.00 Worst Case: $2,500.00 Lower estimate to remove and replace Higher labor or material costs Cost Source: ARI Cost Database Comp#: 303 UNIT CONDENSOR-REPLACE wiquit Quantity: (72)Condenser Location: Back side of each unit, ground mounted. Evaluation: Condensers are in fair condition. Not new, but no significant rust or deterioration Units show obvious age, but no advanced deterioration. Useful Life: g 15 years ► ,'^ N ��- " C<c Remaining Life: ,� 8 years .% ,'•a _ _ � x ,y_ $ i ' � ill ' . 4 , I i z v. Best Case: $54,000.00 Worst Case: $90,000.00 Lower estimate to remove and replace Higher estimate, addnl labor or material costs, furnace/condenser pairs with similar units,$750 $1250 ea unit each unit Cost Source:ARI Cost Database viol February 29,2000 Page 3 of 22 • Association Reserves, Inc. Inventory Appendix Client: 82O4A Catalina Gardens Apartments Comp#: 303 UNIT FURNACE-REPLACE Quantity: (72)Water-type units Location: Attic spaces of individual units. Evaluation: All are original and have been well maintained and serviced as needed. Seasonal use reported. Estimated size is 1.5 to 2 tons each. Overall good to fair operating conditions, life expectancy of 15-18 years typical. MIL '-fir., Useful Life: 15 years • • F.Remaining Life: 8 years 1 • Best Case: $86,400.00 Worst Case: $122,400.00 $1200/unit, Estimate to replace, installed $1700/unit, Higher estimate, installed Cost Source: Printed Estimating Guidebook(s) *ow Comp#: 324 WALL LIGHTS-REPLACE Quantity: Extensive lights Location: Scattered locations on exteriors of buildings Evaluation: Two types:white globe(shown) and brass. Brass at front door area,white globe generally at rear patio area. Both in fair condition. Expect to repair or replace individually on an as-needed basis, no expectation for overall replacements. • • • Useful Life: ti =•_ t 0 7.N 1 aeMf yy, t Remaining Life: ',y •� 1t • � r tiy� Ys � �: �4• g t gY Best Case: Worst Case: Cost Source: February 29,2000 Page 4 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 401 AWNINGS-REPLACE Quantity: (20)total,blue Location: Ends and middle sections of buildings Evaluation: Faded and dry. No rips or tears yet, however. Grimy and dirty. Some locations are approaching unsightly. Useful Life: 6 years • - � Remaining Life: 0 years Best Case: $4,000.00 Worst Case: $6,000.00 Lower estimate to remove canvas covering and Higher estimate,$300/location (reusing existing replace,$200/location framework) Cost Source:ARI Cost Database Comp#: 403 MAILBOXES- REPLACE Quantity: (80)total boxes Location: Adjacent to office building Evaluation: General good condition,full exposure to weather. Sturdy, no significant deterioration at this time. Expect an extended life expectancy with regular ongoing care(rust preventive paint, etc.) 0,1,,E - ' Useful Life: 20years f — � 4 tit A—==-- ys4 - M Remaining Life: + f: 13 years r I; Best Case: $2,400.00 Worst Case: $3,650.00 Lower estimate to remove and replace with similar Higher estimate,$45/box pedestal boxes, $30/box Cost Source: ARI Cost Database February 29,2000 Page 5 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments 'Now' Comp#: 404 PATIO FURNITURE-REPLACE Quantity: (16)Total pieces Location: Pool perimeter Evaluation: All pieces generally in fair condition or better. 4 chaise,8 chair,2 table, 2 umbrella. Minor staining of webbing, no significant fading,discoloration, or brittleness. No significant chips or bending on frames. • ilii Kt 1 IUl * 1i r'11U .1 if. 3 i ' 1 Id iliti - Useful Life: 'i • ` i i! � ' 6 years ;i , Remaining Life: 4 years 1, ! 4 Air OP, pi,. ..----- -- '''_ a Iii, . , ...-,,...::;, a Best Case: $2,400.00 Worst Case: $3,600.00 Lower estimate to replace,avg cost of$150 ea. Higher avg cost, $225 ea. Cost Source: ARI Cost Database law Comp#: 501 BLOCK WALL- REPLACE Quantity: Approx 880 Linear Ft Location: Each side perimeter, and rear perimeter Evaluation: Structurally sound, no looseness or cracking. Generally good condition. Rear fence was new in summer 1999. No expectation to completely replace in this type of residential perimeter, installation. 11111r:,..., 'Useful Life: -• ' � - ` +F V. t. Remaining Life: . T' k. - ; N. Best Case: Worst Case: Cost Source: February 29,2000 Page 6 of 22 • Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 503 METAL FENCE/RAIL- REPLACE "" Quantity: Approx 195 Linear Ft Location: Perimeter of pool area Evaluation: Sturdy, mounted with 4x4 metal posts. Minor local rust,but no advanced deterioration in this dry installation (generally away from landscape watering). Expect minor repairs only, no expectation for total replacement. j: 1 , ' 11.1r Useful Life: b Remaining Life: ih"'� l i • Ili .• Best Case: Worst Case: Cost Source: Comp#: 601 CARPET-1/6 REPLACE - •' Quantity: Approx 2400 Sq Yds Location: Unit living rooms&bedrooms Evaluation: Conditions vary form unit to unit. Most is original, a few have been re-carpeted. Overall conditions are fair. Typical life expectancy is 6- 10 years. Plan on replacing approximately 1/6 of carpeting each year(16.6%of total or 9 units/year) r• r to x 1 "* '.'N. Useful Life: ' 1 years ,,, . F t lfi Remaining Life: ,,, f•, , 0 years x,7 -' A 4 1 f_ Best Case: $3,600.00 Worst Case: $4,400.00 $9/Sq. Yd. X 1/6 of total (12 units), Estimate to $11/Sq. Yd. X 1/6 of total, Higher carpet cost replace carpet. estimate Cost Source:ARI Cost Database February 29,2000 Page 7 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 602 LINOLEUM FLOOR-1/6 REPLACE Quantity: Approx 960 Sq Yd Location: Unit kitchens&bathrooms Evaluation: Some units have newer linoleum, most is original. Current conditions vary depending on age and level of abuse. Expect annual replacement of selected units based on age and expected move-outs. Assume 17%of total each year. __ • Useful Life: 1 years Remaining Life: 0 years \_ Best Case: $1,925.00 Worst Case: $2,250.00 $12/Sq. Yd. X 1/6 of total,allowance for partial $14/Sq. Yd. X 1/6 of total, higher estimate for replacement each year material costs 400 Cost Source:ARI Cost Database Comp#: 709 CLOSET DOORS-REPLACE Quantity: (144)Sliding doors Location: Unit closets Evaluation: No reported problems, minor repairs carried out as needed. No expectation to replace all at one time. Expect repairs or replacement to be done on as-needed basis as operating expense. Useful Life: Remaining Life: • rr t Best Case: Worst Case: Cost Source: February 29,2000 Page 8 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 803 UNIT WATER HEATER-REPLACE Quantity: (72)40 Gal 38000 BTU Location: Rear closets, behind each unit Evaluation: New in 1993,these water heaters appear in general fair condition. No significant rust or deterioration. Sheltered from weather. k -04 4314W4 Useful Life: jam`' i 2 1.4 ,+ 12 years ` sj Remaining Life: ' 4-- i f 5 years f S e '.. " ' Best Case: $36,000.00 Worst Case: $57,600.00 Lower estimate to remove and replace with similar Higher estimate,$800 ea. sized water heaters,$500 ea Cost Source:ARI Cost Database Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE Quantity: Approx 1560 Linear Ft Location: Kitchens Evaluation: Minor to moderate wear, no signs of excessive wear or abuse. Fairly long-life expected, but expect replacement of counter tops and refurbishment of cabinet facings. In future. ram ' Useful Life: �.�.,.� /// 25 years "" s Remaining Life: -';y 18 years 4.'-.. itiO,74, . 4.1.7". Best Case: $124,800.00 Worst Case: $156,000.00 $80/LF, Allowance for partial replacement& $100/LF, Higher allowance, more extensive refurbishing replacement. Cost Source: Printed Estimating Guidebook(s) February 29,2000 Page 9 of 22 Association Reserves, Inc. Inventory Appendix 4pClient: 8204A Catalina Gardens Apartments Comp#: 908 WINDOW TREATMENTS-REPLACE Quantity: (7290)Sq Ft, Blinds Location: Doors and windows of each unit Evaluation: Original window treatments(vertical blinds),typical wear and tear for age of blinds. Current appearance is good to fair. Expect 7-10 more years before complete replacement. e ° If1 : Useful Life: 15 years Remaining Life: 7 years ' • ; Best Case: $58,320.00 Worst Case: $69,250.00 $8.00/Sq. Ft., Estimate to replace $9.50/GSF, Higher estimate Cost Source: ARI Cost Database SP Comp#: 909 BATHROOM-REFURBISH Quantity: (2), M&W Location: Office building, adjacent to pool Evaluation: Simple painted walls, linoleum tile floor. Toilet&sink. Clean,simple, functional. Minor staining of tile floor. Walls clean and shiny. Fixtures in good condition. Expect an eventual need to refurbish. Useful Life: .11 444=r4iii; 18 years s-s I Remaining Life: ; 11 years Best Case: $4,000.00 Worst Case: $6,000.00 Lower estimate for minor refurbish project, Higher estimate, includes some re-configuring. $2000/bathroom Cost Source:ARI Cost Database February 29,2000 Page 10 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 909 UNIT BATHROOMS-REFURBISH ... Quantity: (72)5x9 Bathrooms Location: At each unit Evaluation: Fixtures are reported in good working order,cabinets intact with minimal wear. Life varies depending on level of abuse and maintenance. Expect 18 year useful life before refurbishing (fixtures,cabinets,etc.) Useful Life: 18 years Remaining Life: 11 years A b • l .. d x' Best Case: $129,600.00 Worst Case: $158,400.00 $1800/bath,Allowance for refurbishing $2200/bath, Higher allowance, more extensive refurbishing. Cost Source:ARI Cost Database .44441 Comp#: 910 LAUNDRY RM- REFURBISH Quantity: (1) 13X10 room Location: Adjacent to office in office building Evaluation: Linoleum tile floor, moderately scuffed. Simple painted walls. Good fluorescent lights, no sink, (1)cabinet. Expect any refurbishing to be a relatively minor cost, to be absorbed by ongoing maintenance budget. Useful Life: Remaining Life: fi $ 6A8 h Best Case: Worst Case: Cost Source: February 29,2000 Page 11 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 910 OFFICE-REFURBISH Quantity: (1)Approx 150 Sq Ft Location: Main entry area to property. Evaluation: Fair carpet(minor wear but not poor). Painted walls are clean and attractive. Good general appearance, not new but in good shape. Useful Life: i 6 years Remaining Life: i, 2 years. 7114, Li Best Case: $1,250.00 Worst Case: $2,100.00 Lower estimate to freshen up with new paint and Higher estimate due to general small quantity of carpet area. Cost Source: ARI Cost Database 'taw Comp#: 911 OFFICE FURN.-REPLACE Quantity: Desk&2 cabinets Location: Center of property Evaluation: General good condition. Attractive presentation and good function. Expect to replace pieces individually as minor maintenance expenses, not as a significant capital replacement expense. maw Useful Life: Remaining Life: ar . JJ4Pti Best Case: Worst Case: Cost Source: .tr.. February 29,2000 Page 12 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 912 OFFICE EQUIPMENT-REPLACE Quantity: Computer,copier, FAX... Location: Office building Evaluation: Standard quality computer, Sharp SF-2514 desktop copier, Panasonic KXFP101 FAX,and tractor feed dot- matrix printer. Expect periodic need for new equipment,approx.every other year. Useful Life: °R 2 years r Remaining Life: 1 years ! j r : i E 4 * 4 ,4 y;: Best Case: $2,000.00 Worst Case: $2,500.00 Lower estimate to replace one major piece or two Higher estimate minor pieces Cost Source:ARI Cost Database Comp#: 920 REFRIGERATORS- PARTIAL REPLACE Quantity: (72) 18 c.f. GE models Location: Kitchens Evaluation: Majority are still original, minimal replacement reported. Some are approaching the end of their effective life expectancies. Plan on annual replacement of 6 units per year. pti, i I Useful Life: a 1 years 11:it ` . Remaining Life: -,,...2.A:. . 0 years • ..-s. { I r Best Case: $3,000.00 Worst Case: $3,900.00 $500/refrigerator x 6 units,Allowance for partial $650/refrigerator x 6 units, Higher allowance. replacement Cost Source:ARI Cost Database February 29,2000 Page 13 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 922 OVENS-PARTIAL REPLACE Quantity: (71)4-burner stoves Location: Kitchens Evaluation: All are original and reported in good working order. Some history of minor repairs only. No expectation to replace all at same time. Allowance provided for an average of 6 being replaced each year. Useful Life: "" 1 years Remaining Life: °r . •` 0 years . 0,4 • • • • •II maraissiose Best Case: $2,700.00 Worst Case: $3,300.00 $450/oven x 6 units, Allowance for partial $550/unit x 6 units, Higher allowance replacement Cost Source:ARI Cost Database Comp#: 924 GARBAGE DISPOSALS-REPLACE Quantity: (72) 1/2 HP units Location: Under kitchen sinks Evaluation: History of replacement on as-needed basis. Varying ages and conditions. Expect future replacement to be carried out as operating expense. Life expectancy can vary greatly depending on amount of usage. Useful Life: Remaining Life: ;1;:- /0" • Best Case: Worst Case: 1110 Cost Source: February 29,2000 Page 14 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1005 LANDSCAPE- REPLENISH Quantity: Minimal total plantings Location: Scattered throughout property Evaluation: Plantings appear generally healthy and colorful. Assume all landscape is maintained on an ongoing maintenance basis, not capital Reserves. .. ,.., . . r , .,. i Useful Life: Remaining Life: 1 • * ` • A77,1 %r •-, r • ..r 0 a4,- •/ r. i� Nit, ••` + `'`fir _ Best Case: Worst Case. Cost Source: Comp#: 1107 METAL FENCE/RAIL- REPAINT Quantity: Approx 195 Linear Ft Location: Pool perimeter Evaluation: Paint on the ironwork is currently flaking and chipping,with some minor local rust showing. Not unsightly, but time to repaint in order to protect integrity of fence structure. It ,iii -, , •. iii . ,. , , _ i ... 1 ..,. ,.. , Useful Life: 5 years ,. .. s ` Remaining Life: r-,,-;' 0 years - t- ti- < � . ass a s s : X Best Case: $700.00 Worst Case: $900.00 Lower estimate to prep surface and repaint, Higher estimate,$4.50/Linear Ft $3.50/Linear Ft Cost Source: ARI Cost Database February 29,2000 Page 15 of 22 Association Reserves, Inc. Inventory Appendix 4pClient: 8204A Catalina Gardens Apartments Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Approx 104400 GSF Location: Unit ceilings&walls Evaluation: Generally clean condition and appearance. Some units are better than others. Painting is typically done when occupancy changes. Expect future painting to be accomplished as maintenance expense and not a capital project. Useful Life: : Remaining Life: , Best Case: Worst Case: Cost Source: Comp#: 1115 STUCCO-REPAINT Quantity: Approx 51400 Sq Ft Location: Exterior building surfaces Evaluation: Minor dryness, no significant staining or cracking or chalkiness. Still generally good physical condition and appearance. • ' " • k##' Useful Life: 10 years ~ ;-1-7-1w47•1W • Remaining Life: #' t 5 years �" + x Best Case: $32,400.00 Worst Case: $39,600.00 Lower estimate to set up, prep surfaces,and Higher estimate,$550/unit repaint,$450/unit Cost Source:ARI Cost Database Neer February 29,2000 Page 16 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1116 WOOD SURFACES- REPAINT Quantity: Minimal total Sq Ft Location: Roof edge line, local shade arbors,carport roof edge trim. Evaluation: All areas are dry. Light brown in color, rough wood. All areas very faded and in need of paint. No warping or splitting,although if not painted soon that will be a consequence. x-, Useful Life: tx 5 years 0' V.. - _ :, `Y :— r •. , Remaining Life: ;� , ...,,,,," 0 years i x.- - . .1 Best Case: $10,800.00 Worst Case: $18,000.00 Lower estimate to prep surfaces and repaint, Higher estimate, addnl surface prep work $1 50/unit (caulking,some wood repairs& replacements), $250/unit Cost Source:ARI Cost Database Comp#: 1202 POOL-RESURFACE Quantity: (1)Approx 40 x 15 Location: Center of property Evaluation: Moderate surface roughness, no cracks or chips noted. Uniform light color. .y��+^ F Useful Life: 12 years '" Remaining Life: 5 years Best Case: $3,500.00 Worst Case: $4,800.00 Lower estimate to drain and resurface Higher estimate Cost Source:ARI Cost Database "..ad February 29,2000 Page 17 of 22 I Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1207 POOL FILTER-REPLACE Quantity: (1)Hayward 60 Sq Ft Location: Outside,adjacent to pool and office building Evaluation: Clean, no staining, no visible deterioration. Appears to be in relatively new condition. III Useful Life: . 10 years �y9 -` .�, f •,a Remaining Life: ` �= *,•- 4; 8 years - 4- • �h 3,1 ..4 Best Case: $800.00 Worst Case: $1,100.00 Lower estimate to remove and replace with similar Higher estimate for replacement filter unit Cost Source: ARI Cost Database Comp#: 1208 POOL HEATER-REPLACE Quantity: (1) Hayward 280,000 BTU Location: Outside,adjacent to pool and office building Evaluation: Unit was new in 1992. Fair interior condition, no advanced scale buildup or deterioration. No internal flame damage. $ .. 3 � l Useful Life: ► 1 ( •� 10 years - s t„ -,- - Remaining Life: _ - , w,. - e • 2 years x e. \ m ! ' }! ie''''''4Th."41.R i=. � e --- -s .� ..:_fir�- ---> Best Case: $1,800.00 Worst Case: $2,200.00 Lower estimate to remove and replace with a similar Higher estimate size heater Cost Source:ARI Cost Database February 29,2000 Page 18 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1215 POOL DECK-RESURFACE — Quantity: Approx 925 Sq Ft Location: Pool area perimeter Evaluation: Significant pitting,cracking,and staining. Concern for toe-stubbing(safety) hazards.Typically the Useful Life of this type of surface is much longer,but we are presuming that maintenance and cleaning was not historically accomplished. drill A, 3i&.... Useful Life: 4 20 years ;Aa 1.� f s c n a,� r;. x- rt n Remaining Life: a} '{" 0years 4t14 - � �•inP ate %.t i „47444,1 Best Case: $2,775.00 Worst Case: $4,625.00 Lower estimate to clean, strip, and repair surface @ Higher estimate, $5.00/Sq Ft $3.00/Sq Ft Cost Source: ARI Cost Database - add Comp#: 1216 POOL DECK-SEAL Quantity: Approx 925 Sq Ft Location: Pool area perimeter Evaluation: Significant pitting,cracking, and staining. Concern for toe-stubbing (safety) hazards.Typically the Useful Life of this type of surface is much longer,but we are presuming that maintenance and cleaning was not historically accomplished. . ov i' S _ . —Z ,.,. . 1:,,-14771trYff$,..triii!`. r: ale". ; `"--- ;* Useful Life: . 5 years i!" {; r'+' ,, sq . 4 ,i ' ' �*- :. 1 tl � ." #r Remaining Life: i r,• 5 years -i , 4e Best Case: $925.00 Worst Case: $1,400.00 Lower estimate to clean and seal this surface, Higher estimate,$1.50/Sq Ft $1.00/Sq Ft -.ad Cost Source:ARI Cost Database i February 29,2000 Page 19 of 22 1 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1301 FLAT GRAVEL ROOF-REPLACE Quantity: Approx 22550 Sq Ft Location: Flat rooftop areas of 18 residential buildings+office building Evaluation: Firm flat surface, good rock coverage. No bubbles or seams showing. No significant deterioration, but some areas with significant accumulation of tree debris. i _� Wit{ ,r \ '� 1- ' Useful Life: .1 Ni,. , 7 , 12 years ,. -r-� a Remaining Life: 5 years } at x Z, v ' : ! 3 't4 '.- .., .i, 'j.?' C., 4 5r A s v�.rix ' sy Best Case: $49,600.00 Worst Case: $62,000.00 Lower estimate to replace with a similar roof Higher estimate,$2.75/Sq Ft surface, $2.20/Sq Ft tio Cost Source: ARI Cost Database Comp#: 1304 TILE ROOF- REPAIR Quantity: Approx 26200 Sq Ft Location: Tile roof portions of 18 residential buildings+ 1 office building Evaluation: Heavy concrete tiles. Many extra tiles stored on flat roof areas. Only minor local slippage, loss, and breakage. Overall general good condition, but some local areas in need of repair at this time. ,ra •' ►ii:iiii ,♦ Useful Life: G ti.,W:• ., ' 6 years �_��+i A ` L; ,. ,, Remaining Life: • $`pa} 0 years . A • Best Case: $10,500.00 Worst Case: $15,700.00 Lower estimate for overall roof inspection and local Higher estimate, addnl labor or materials required repairs, 10% @ $4.00/Sq Ft for repair effort, 15% @ $4.00/Sq Ft Cost Source:ARI Cost Database February 29,2000 Page 20 of 22 Association Reserves, Inc. Inventory Appendix Client: 8204A Catalina Gardens Apartments Comp#: 1315 METAL CARPORT ROOF-REPLACE Quantity: (8)total,6500 Sq Ft Location: Scattered locations throughout driveway area Evaluation: Metal frame carports with wood edge trim(which was recently painted by in-house labor and is currently warped). General good, stable condition and appearance of metal (posts and both sides of roof surface). Useful Life: _ 30 years ' R-;a f "4,'.'-nr^r- ';' m �i<' Remaining Life: -.. k "' 23 years -� g+ '.''". - ate' Best Case: $22,750.00 Worst Case: $29,250.00 Lower estimate to replace with similar metal carport Higher estimate,$4.50/Sq Ft structure,$3.50/Sq Ft Cost Source: ARI Cost Database Comp#: 1402 SIGNAGE-REPLACE Quantity: Entry lettering Location: Main driveway entry to association Evaluation: Sturdy metal lettering, mounted onto block wall. Not a significant capital asset. Expect to repair or replace as needed as a minor maintenance issue. '-i+-t- ` t ! •.4. f $:f. s ter; } a J,-/ .. - Useful Life: 'j ► ,y; 4 Remaining Life: { : r ., ,;- .,x t• - V. ' ,: - c+ Best Case: Worst Case: Cost Source: February 29,2000 Page 21 of 22 1 1 Association Reserves, Inc. Inventory Appendix (boClient: 8204A Catalina Gardens Apartments Comp#: 1808 TREES-TRIM Quantity: Extensive trees Location: Scattered locations through association Evaluation: Many types and sizes. Some trees currently encroaching on roof and building areas, rubbing and shedding. Association trees are due for a trim project at this time. 471v ilkirTo . • ...--f:41cAS?.,,y1' r',":,` ;.‘ . Useful Life: = " `I} `� .- ,!r:. 6 years -- `f.i:7.:> .,yam Remaining Life: : � + ' ,: 0 years € A _ i t►.,1 1 $ Best Case: $2,500.00 Worst Case: $3,500.00 Lower estimate for tree trimming project based on Higher estimate size and quantity iip Cost Source: ARI Cost Database fir February 29,2000 Page 22 of 22 Corporate Office SSOCIATION Local Offices P.O. Box 8637 Phoenix,AZ itiw Calabasas,CA 91372 ESERVES, I1 N 1C. San Francisco,CA TEL 800/733-1365 Denver,CO FAX 800/733-1581 Honolulu,HE www.ReserveStudy.com Reserve Studies for Community Associations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN° wifi....... 0001„„Will----rwiw- airo.i.ti-war- -----mk..1 ,1._____ ��, : lowasigassigszgli f Eli A/F' ilk- - i t ,rth{l r r,nu o;III ' : III .; f it a: 111 ,;,t(,{fgtrf; .,.MrM3_1. f t ..orr.." "04Millii 4 t , ."4/0.1. ` 71t1 1 l r , t ;f �`.,`, :II t 'I;i'4frf c„ ft , tgt 'trt r '#1{ 1,. It}1Jit St'i� {��l iEa+t I f_l{ f �i ai t ;ptZ1l ;i3 p- Desert Pointe Palm Desert, CA For the Period From: January 1, 2000 Through: December 31, 2000 Report# 8205-0 Date Prepared: February 29, 2000 N.., v,. TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix r.. CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY • Report #: 8205-0 Property Name: Desert Pointe Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $148,099 Recommended Capital Contribution: $4,175/month Desert Pointe is a medium sized 64 unit facility which recently received a new roof. Unlike other properties, this project did not receive a major renovation. The facility consists of 3 residential buildings, a laundry building, and a pool. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (light fixtures, fencing, window treatments, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding has not been designated. Note that laundry machines were not included since they are owned and maintained by a laundry machine service company. *l` You will note we have split the deck and asphalt projects each into two line items: one for periodic sealing and the other longer life cycle component for resurfacing. Note also that we have assumed that some projects (bathroom renovation, kitchen appliance replacement, flooring replacement, etc.) will be accomplished on a partial basis each year due to the observed array of conditions of existing equipment. Our recommended capital contribution set-aside of$4,175/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $148,099 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation- offsetting" increases will be required to this contribution rate. 4 Association Reserves, Inc. Executive Summary© 8205-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Desert Pointe USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 104 DECKING MATERIALS - RESURFACE 20 0 $20,650 $37,296 105 DECKING MATERIALS - RESEAL 4 4 $8,600 $9,679 201 ASPHALT- RESURFACE 20 8 $34,750 $44,020 202 ASPHALT- SEAL/REPAIR 4 3 $4,625 $5,054 204 CONCRETE SWALES - REPAIR 8 4 $5,250 $5,909 205 CONCRETE DRIVE - REPAIR 8 4 $3,900 $4,389 320 PARKING LOT LIGHTS - REPLACE 20 10 $22,500 $30,238 403 MAILBOXES - REPLACE 20 16 $2,650 $4,252 404 PATIO FURNITURE - REPLACE 5 3 $1,500 $1,639 405 PLAY EQUIPMENT- REPLACE 30 15 $6,250 $9,737 503 METAL FENCE/RAIL- REPLACE 12 4 $7,875 $8,863 601 CARPET- REPLACE 1 0 $4,163 $4,287 602 LINOLEUM FLOOR - REPLACE 1 0 $925 $953 702 UTILITY DOORS - REPLACE 18 8 $1,625 $2,059 803 WATER HEATER/TANK- REPLACE (A) 15 4 $2,150 $2,420 803 WATER HEATER/TANK- REPLACE (B) 15 5 $2,150 $2,492 803 WATER HEATER/TANK - REPLACE (unit 2 1 $2,400 $2,472 804 WATER STORAGE TANK - REPLACE 12 3 $1,300 $1,421 904 KITCHEN COUNTER/CABINET- REPLA 1 0 $4,950 $5,099 909 BATHROOM - REFURBISH 1 0 $8,000 $8,240 910 OFFICE - REMODEL 7 6 $3,150 $3,761 920 REFRIGERATORS - REPLACE 1 0 $3,600 $3,708 922 STOVE/OVEN - REPLACE 1 0 $3,000 $3,090 1003 IRR.TIMECLOCKS - REPLACE 12 2 $1,500 $1,591 1101 FRONT/UTILITY DOORS - REPAINT 5 3 $4,175 $4,562 1105 BLOCK WALL FENCE - REPAINT 5 3 $1,600 $1,748 1107 METAL FENCE/RAIL- REPAINT 4 0 $4,200 $4,727 1115 STUCCO - REPAINT 10 3 $35,975 $39,311 1116 WOOD SURFACES - REPAINT 5 3 $11,200 $12,239 1202 POOL- RESURFACE 10 0 $4,150 $5,577 1207 POOL FILTER - REPLACE 12 2 $1,000 $1,061 1301 FLAT ROOF - REPLACE 12 11 $51,375 $71,115 1808 TREES -TRIM 4 1 $3,000 $3,090 33 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY INTRODUCTION Nks. The property described in this Report is a relatively small apartment building that has undergone some minor(roof) renovation by the City of Palm Desert. This development includes residential facilities, a pool, and laundry facilities. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction ..w industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with ‘`" the history and operating practices of the building. These included: pool service company, on- site maintenance personnel, City personnel, and management personnel. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS Desert Pointe is a medium sized 64 unit facility which has recently undergone some minor renovation (a new roof). The facility consists of three residential buildings, a laundry building, and a pool. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis(light fixtures, fencing, window treatments, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Note that laundry machines were not included since they are owned and maintained by a laundry machine service company. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. YOu will note we have split the deck project and asphalt project each into two line items: one for periodic sealing and the other longer life cycle component for resurfacing. Note also that we have assumed some projects (bathroom renovation, kitchen appliance replacement, flooring replacement, etc.) will be accomplished on a partial basis each year due to the observed array of conditions of existing equipment. Our recommended capital contribution set-aside of $4,175/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $148,099 on -- 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. The expenditures for future years can be summarized as follows: 0 - 5 years: $272,603 5 - 10 years: $265,534 10 - 15 years: $420,039 15 - 20 years: $320,391 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. Association Reserves, Inc. 4 Capital Replacement Plan e ,_ a u) \\\\\\\\\\\\\\\\\\*\\\\\\\\\\ 2 W U� k\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\CC \�\\\\\\\\\\\\ \� N t\\ t \\\t.,_ c\I H LLI t\\ \\rk.,-,\.,_ ocn \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Z \\\\\\\\\\\\4-N U \\\ \\\\\\\\\\\\� W �\\\\\\\\\\\\� cc a. l-vd, �,vw\vvvv\""v\�� , , ,.cc ql1P X k\ \\ t,_ \\\ W +7 4\\\\\\\\\\\\\\\�\\\\\\\\\\\\ o W m N CC 0 \ LO 0 W �\�\\\t\\\\�\\\\` N W \\\\\ W > (\\\\ 5-- k\\\\\\\��\\\ 8 CC N } } } 7 , O a a a a a a O O O O O O O a C*) N N r O fa {f} Eft ft to {f} (spuesnoq ) liP STd101 -kill N NV 8205-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Desert Pointe Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 104 DECKING MATERIALS-RESURFACE Approx.6875 GSF 20 0 $17,200 $24,100 105 DECKING MATERIALS-RESEAL Approx.6875 GSF 4 4 $6,900 $10,300 201 ASPHALT-RESURFACE Approx.35650 GSF 20 8 $30,300 $39,200 202 ASPHALT-SEAL/REPAIR Approx.35650 GSF 4 3 $3,550 $5,700 204 CONCRETE SWALES-REPAIR Approx.3000 GSF 8 4 $4,500 $6,000 205 CONCRETE DRIVE-REPAIR Approx.1675 GSF 8 4 $3,350 $4,450 320 PARKING LOT LIGHTS-REPLACE (3) Double head lights 20 10 $3,000 $42,000 403 MAILBOXES-REPLACE (64) Boxes, (2) parcel 20 16 $2,300 $3,000 404 PATIO FURNITURE-REPLACE (12)Assorted pieces 5 3 $1,200 $1,800 405 PLAY EQUIPMENT-REPLACE Metal structure 30 15 $5,000 $7,500 503 METAL FENCE/RAIL-REPLACE Approx. 1400 LF 12 4 $7,000 $8,750 601 CARPET-REPLACE Approx.3150 GSY 1 0 $3,825 $4,500 602 LINOLEUM FLOOR-REPLACE Approx.495 GSY 1 0 $850 $1,000 702 UTILITY DOORS-REPLACE (19)3 x 7 doors 18 8 $1,350 $1,900 803 WATER HEATERTANK-REPLACE(A) (1)American, 100 gallon 15 4 $1,800 $2,500 803 WATER HEATER/TANK-REPLACE(B) (1)State, 100 gallon 15 5 $1,800 $2,500 803 WATER HEATER/TANK-REPLACE(units (28)30 gallon heaters 2 1 $2,100 $2,700 804 WATER STORAGE TANK-REPLACE (1) State,120 gallons 12 3 $1,100 $1,500 904 KITCHEN COUNTER/CABINET-REPLAC (64) Kitchens 1 0 $3,000 $6,900 909 BATHROOM-REFURBISH (66) Bathrooms 1 0 $7,000 $9,000 910 OFFICE-REMODEL (1)80 GSF office 7 6 $2,800 $3,500 920 REFRIGERATORS-REPLACE (64)Various types 1 0 $3,000 $4,200 922 STOVE/OVEN-REPLACE (64)Various types 1 0 $2,400 $3,600 1003 IRR.TIMECLOCKS-REPLACE (3) Rainbird clocks 12 2 $1,300 $1,700 1101 FRONT/UTILITY DOORS-REPAINT (83)3 x 7 doors 5 3 $3,350 $5,000 1105 BLOCK WALL FENCE-REPAINT Approx.3350 GSF 5 3 $1,350 $1,850 1107 METAL FENCE/RAIL-REPAINT Approx. 1400 LF 4 0 $3,500 $4,900 1115 STUCCO-REPAINT Approx.43,600 GSF 10 3 $32,700 $39,250 1116 WOOD SURFACES-REPAINT Moderate GSF 5 3 $9,600 $12,800 1202 POOL-RESURFACE (1)31 x 17 pool 10 0 $3,500 $4,800 1207 POOL FILTER-REPLACE (1)Sta-Rite,48 GSF 12 2 $900 $1,100 1301 FLAT ROOF-REPLACE Approx.28150 GSF 12 11 $46,450 $56,300 1808 TREES-TRIM Numerous trees 4 1 $2,500 $3,500 33 COMPONENTS REQUIRING FUNDING I ASSOCIATION RESERVES,INC. PAGE 6 I 8205-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 4br Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $148,099 $149,012 $174,523 $204,563 $169,392 $167,103 $193,267 Annual Contribution $50,100 $51,603 $53,151 $54,746 $56,388 $58,080 $59,822 Interest Earnings $4,451 $4,847 $5,679 $5,602 $5,041 $5,398 $6,284 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $202,650 $205,462 $233,353 $264,910 $230,821 $230,581 $259,373 # Expenditures 1 104 DECKING MATERIALS-RESURFACE $20,650 $0 $0 $0 $0 $0 $0 105 DECKING MATERIALS-RESEAL $0 $0 $0 $0 $9,679 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $5,054 $0 $0 $0 204 CONCRETE SWALES-REPAIR $0 $0 $0 $0 $5,909 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $4,389 $0 $0 320 PARKING LOT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $1,639 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $8,863 $0 $0 601 CARPET-REPLACE $4,163 $4,287 $4,416 $4,548 $4,685 $4,825 $4,970 602 LINOLEUM FLOOR-REPLACE $925 $953 $981 $1,011 $1,041 $1,072 $1,104 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $2,420 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $2,492 $0 803 WATER HEATER/TANK-REPLACE(u $0 $2,472 $0 $2,623 $0 $2,782 $0 804 WATER STORAGE TANK-REPLACE $0 $0 $0 $1,421 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $4,950 $5,099 $5,251 $5,409 $5,571 $5,738 $5,911 909 BATHROOM-REFURBISH $8,000 $8,240 $8,487 $8,742 $9,004 $9,274 $9,552 C 910 OFFICE-REMODEL $0 $0 $0 $0 $0 $0 $3,761 920 REFRIGERATORS-REPLACE $3,600 $3,708 $3,819 $3,934 $4,052 $4,173 $4,299 922 STOVE/OVEN-REPLACE $3,000 $3,090 $3,183 $3,278 $3,377 $3,478 $3,582 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $1,591 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $4,562 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $1,748 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $4,200 $0 $0 $0 $4,727 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $39,311 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $12,239 $0 $0 $0 1202 POOL-RESURFACE $4,150 $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $1,061 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $3,090 $0 $0 $0 $3,478 $0 Total Expenditures $53,638 $30,939 $28,790 $95,518 $63,718 $37,314 $33,180 111111, ASSOCIATION RESERVES,INC. PAGE 7 8205-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $226,193 $256,094 $209,628 $242,580 $248,338 $209,605 Annual Contribution $61,617 $63,465 $65,369 $67,330 $69,350 $71,431 Interest Earnings $7,225 $6,977 $6,774 $7,354 $6,860 $6,451 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $295,035 $326,535 $281,772 $317,264 $324,548 $287,487 # Expenditures 104 DECKING MATERIALS-RESURFACE $0 $0 $0 $0 $0 $0 105 DECKING MATERIALS-RESEAL $0 $10,894 $0 $0 $0 $12,262 201 ASPHALT-RESURFACE $0 $44,020 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $5,688 $0 $0 $0 $6,402 $0 204 CONCRETE SWALES-REPAIR $0 $0 $0 $0 $0 $7,485 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $5,560 320 PARKING LOT LIGHTS-REPLACE $0 $0 $0 $30,238 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $1,900 $0 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $5,119 $5,273 $5,431 $5,594 $5,762 $5,935 602 LINOLEUM FLOOR-REPLACE $1,138 $1,172 $1,207 $1,243 $1,280 $1,319 702 UTILITY DOORS-REPLACE $0 $2,059 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE(u $2,952 $0 $3,131 $0 $3,322 $0 804 WATER STORAGE TANK-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $6,088 $6,271 $6,459 $6,652 $6,852 $7,058 909 BATHROOM-REFURBISH $9,839 $10,134 $10,438 $10,751 $11,074 $11,406 910 OFFICE-REMODEL $0 $0 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $4,428 $4,560 $4,697 $4,838 $4,983 $5,133 922 STOVE/OVEN-REPLACE $3,690 $3,800 $3,914 $4,032 $4,153 $4,277 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $5,289 $0 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $2,027 $0 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $5,320 $0 $0 $0 $5,988 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $14,188 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $5,577 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $71,115 $0 1808 TREES-TRIM $0 $0 $3,914 $0 $0 $0 Total Expenditures $38,941 $116,907 $39,192 $68,926 $114,943 $66,423 4 4 I , i i 4 ASSOCIATION RESERVES,INC. PAGE 8 8205-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 0 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $221,064 $171,824 $212,312 $235,990 $246,650 $287,816 Annual Contribution $73,574 $75,781 $78,054 $80,396 $82,808 $85,292 Interest Earnings $5,886 $5,754 $6,716 $7,230 $8,006 $8,935 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $300,523 $253,360 $297,082 $323,616 $337,464 $382,043 # Expenditures 104 DECKING MATERIALS-RESURFACE $0 $0 $0 $0 $0 $0 105 DECKING MATERIALS-RESEAL $0 $0 $0 $13,800 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $7,206 $0 $0 $0 204 CONCRETE SWALES-REPAIR $0 $0 $0 $0 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 320 PARKING LOT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $4,252 $0 $0 404 PATIO FURNITURE-REPLACE $2,203 $0 $0 $0 $0 $2,554 405 PLAY EQUIPMENT-REPLACE $0 $0 $9,737 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $12,637 $0 $0 601 CARPET-REPLACE $6,113 $6,296 $6,485 $6,680 $6,880 $7,086 602 LINOLEUM FLOOR-REPLACE $1,358 $1,399 $1,441 $1,484 $1,529 $1,575 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE(u $3,524 $0 $3,739 $0 $3,967 $0 804 WATER STORAGE TANK-REPLACE $0 $0 $2,025 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $7,269 $7,487 $7,712 $7,943 $8,182 $8,427 909 BATHROOM-REFURBISH $11,748 $12,101 $12,464 $12,838 $13,223 $13,619 910 OFFICE-REMODEL $4,626 $0 $0 $0 $0 $0 16 920 REFRIGERATORS-REPLACE $5,287 $5,445 $5,609 $5,777 $5,950 $6,129 922 STOVE/OVEN-REPLACE $4,406 $4,538 $4,674 $4,814 $4,959 $5,107 1003 IRR.TIMECLOCKS-REPLACE $0 $2,269 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $6,131 $0 $0 $0 $0 $7,108 1105 BLOCK WALL FENCE-REPAINT $2,350 $0 $0 $0 $0 $2,724 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $6,740 $0 $0 1115 STUCCO-REPAINT $52,831 $0 $0 $0 $0 a $0 1116 WOOD SURFACES-REPAINT $16,448 $0 $0 $0 $0 $19,067 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $1,513 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $4,406 $0 $0 $0 $4,959 $0 Total Expenditures $128,699 $41,048 $61,092 $76,966 $49,647 $73,396 1111, ASSOCIATION RESERVES, INC. PAGE 9 8205-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $308,647 $347,030 $308,835 $356,118 $416,480 $254,058 Annual Contribution $87,851 $90,486 $93,201 $95,997 $98,877 $101,843 Interest Earnings $9,822 $9,825 $9,961 $11,574 $10,045 $8,119 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $406,320 $447,341 $411,997 $463,688 $525,402 $364,020 # Expenditures 104 DECKING MATERIALS-RESURFACE $0 $37,296 $0 $0 $0 $0 105 DECKING MATERIALS-RESEAL $0 $15,533 $0 $0 $0 $17,482 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $8,110 $0 $0 $0 $9,128 $0 204 CONCRETE SWALES-REPAIR $0 $9,482 $0 $0 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $7,044 $0 $0 $0 $0 320 PARKING LOT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 - $0 $0 $2,960 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $7,299 $7,518 • $7,743 $7,976 $8,215 $8,462 602 LINOLEUM FLOOR-REPLACE $1,622 $1,671 $1,721 $1,772 $1,826 $1,880 702 UTILITY DOORS-REPLACE $0 . $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $3,770 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $3,883 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE(u $4,208 $0 $4,465 $0 $4,737 $0 804 WATER STORAGE TANK-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $8,680 $8,940 $9,208 $9,485 $9,769 $10,062 909 BATHROOM-REFURBISH $14,028 $14,449 $14,882 $15,329 $15,789 $16,262 910 OFFICE-REMODEL $0 $5,689 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $6,313 $6,502 $6,697 $6,898 $7,105 $7,318 922 STOVE/OVEN-REPLACE $5,261 $5,418 $5,581 $5,748 $5,921 $6,098 1003 IRR.TIMECLOCKS-REPLACE $0 - $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $0 $8,240 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $3,158 $0 1107 METAL FENCE/RAIL-REPAINT $0 $7,586 $0 $0 $0 $8,538 1115 STUCCO-REPAINT $0 $0 $0 $0 $71,000 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $22,104 $0 1202 POOL-RESURFACE $0 $7,495 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $101,393 $0 1808 TREES-TRIM $0 $0 $5,581 $0 $0 $0 Total Expenditures $59,290 $138,506 $55,879 $47,208 $271,343 $76,103 ASSOCIATION RESERVES,INC. PAGE 10 8205-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $287,917 $339,320 $396,357 $439,955 $319,577 $377,295 Annual Contribution $104,898 $108,045 $111,287 $114,625 $118,064 $121,606 Interest Earnings $9,396 $11,021 $12,528 $11,378 $10,439 $11,432 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $402,212 $458,386 $520,172 $565,958 $448,080 $510,333 # Expenditures 104 DECKING MATERIALS-RESURFACE $0 $0 $0 $0 $0 $0 105 DECKING MATERIALS-RESEAL $0 $0 $0 $19,676 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $79,505 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $10,273 $0 $0 $0 204 CONCRETE SWALES-REPAIR $0 $0 $0 $12,012 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $8,923 $0 $0 320 PARKING LOT LIGHTS-REPLACE $0 $0 $0 $0 $0 $54,613 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $3,432 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $18,017 $0 $0 601 CARPET-REPLACE $8,715 $8,977 $9,246 $9,523 $9,809 $10,103 602 LINOLEUM FLOOR-REPLACE $1,937 $1,995 $2,055 $2,116 $2,180 $2,245 702 UTILITY DOORS-REPLACE $0 $3,504 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE( $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE(u $5,025 $0 $5,331 $0 $5,656 $0 804 WATER STORAGE TANK-REPLACE $0 $0 $2,888 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $10,364 $10,675 $10,995 $11,325 $11,665 $12,015 909 BATHROOM-REFURBISH $16,750 $17,253 $17,770 $18,303 $18,853 $19,418 910 OFFICE-REMODEL $0 $0 $6,997 $0 $0 $0 920 REFRIGERATORS-REPLACE $7,538 $7,764 $7,997 $8,237 $8,484 $8,738 922 STOVE/OVEN-REPLACE $6,281 $6,470 $6,664 $6,864 $7,070 $7,282 1003 IRR.TIMECLOCKS-REPLACE $0 $3,235 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $9,552 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $3,661 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $9,609 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $25,625 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $10,073 1207 POOL FILTER-REPLACE $0 $2,157 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $6,281 $0 $0 $0 $7,070 $O Total Expenditures $62,892 $62,029 $80.216 $246,381 $70,785 $124488 ASSOCIATION RESERVES,INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 82O5A Desert Pointe Comp#: 103 CONCRETE DECK/WALK-REPAIR Quantity: Extensive GSF Location: Common area walkways, pool deck Evaluation: Minimal signs of cracking. Majority of area was in good condition. No tripping hazards were noticed during inspection. No expectation for major repairs and replacements. All should be treated as a maintenance issue. Useful Life: RemainingLife: `!.� 1. • t 4t,f �^ At_406,4 Best Case: Worst Case: Cost Source: Comp#: 104 DECKING MATERIALS-RESURFACE Quantity: Approx. 6875 GSF Location: Balconies of units, breezeways of buildings Evaluation: All balconies inspected were in poor condition with peeling materials and deterioration noted. All surfaces are in need of resurface immediately before damage to substructure begins to develop. Yr aw 4 Useful Life: 20 years Remaining Life: 0 years •f. 111 Best Case: $17,200.00 Worst Case: $24,100.00 $2.50/GSF; Estimate to remove old surface and $3.50/GSF; Higher estimate for more labor, reapply a new surface repairs to substructure Cost Source:ARI Cost Database February 29,2000 Page 1 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe le•" Comp#: 105 DECKING MATERIALS-RESEAL Quantity: Approx.6875 GSF Location: Balconies of units, breezeways of buildings Evaluation: All balconies inspected were in poor condition with peeling materials and deterioration noted. Once decks are resurfaced, they should be sealed every 4 years to protect integrity of materials. Useful Life: 4 years Remaining Life: 4 years Best Case: $6,900.00 Worst Case: $10,300.00 $1.00/GSF; Estimate to reseal deck only $1.50/GSF; Higher estimate for more labor, minor repairs Cost Source:ARI Cost Database Comp#: 201 ASPHALT- RESURFACE Quantity: Approx. 35650 GSF Location: Parking lot Evaluation: Integrity of asphalt is in fair condition.There was some loose gravel noted. No evidence of major cracks, raveling, or potholes. With a good seal coat, resurfacing can be prolonged about 5-8 years. f y Useful Life: 20 years . ... ', w Remaining Life: ` { 8 years Best Case: $30,300.00 Worst Case: $39,200.00 $.85/GSF; Estimate to resurface $1.10/GSF; Higher estimate for some repairs Cost Source:ARI Cost Database February 29,2000 Page 2 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 202 ASPHALT-SEAL/REPAIR `" Quantity: Approx. 35650 GSF Location: Parking lot Evaluation: Excessive loss of seal noted in entire parking lot. Suggest a double coat to properly seal asphalt.Anticipate resealing project in early 2000,then expect to reseal every 3-4 years due to elements and level of traffic. • •41,: iir -5r1$ Useful Life: .'" f •c z 4 years .r..i �► -. x•` ° k alo * " - cI "-�" . Remaining Life: a R a 3 years r -�+ � -,. . - Best Case: $3,550.00 Worst Case: $5,700.00 $.10/GSF; Estimate to seal coat $.16/GSF; Higher estimate to include minor repairs Cost Source:ARI Cost Database Comp#: 204 CONCRETE SWALES-REPAIR Quantity: Approx. 3000 GSF Location: Middle of driveway in parking lot Evaluation: Overall good condition with several expansion joints that will limit extensive cracking. Do not expect to replace entire area at same time, but coordinate repairs at same time as asphalt work. ....A. _. _____ .... _______,...c.---% Useful Life: . 8 years Remaining Life: s 4 years 3, f ` .wtt Best Case: $4,500.00 Worst Case: $6,000.00 Estimate to repair 25%of area at this interval Higher estimate for more repairs Cost Source:ARI Cost Database r..l 14 February 29,2000 Page 3 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe ` "' Comp#: 205 CONCRETE DRIVE- REPAIR Quantity: Approx. 1675 GSF Location: Middle of parking lots adjacent to trash enclosures Evaluation: No major lifting or settling noted. No expectancy for complete replacement at same time. Plan on periodic repairs to 30%of area every 8 years. :k - « , 6, 1,, E V+ -� Useful Life: 8 years Remaining Life: ? a 4 years .. �., .- °. r +».� Best Case: $3,350.00 Worst Case: $4,450.00 Estimate to replace 30%of area every 8 years Higher estimate for more repairs Cost Source: ARI Cost Database `iirr Comp#: 303 WALL MOUNT AC UNITS- REPLACE Quantity: Approx. 67 units Location: Interiors of all units Evaluation: Some units have more than one air conditioning/heating unit.All are older, but no reports of problems or malfunctioning. Individual replacement cost is too small for separate funding. Replace as needed with maintenance funds. Useful Life: Remaining Life: t _ li -. i :v..* -r. Best Case: Worst Case: Cost Source: February 29,2000 Page 4 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 320 PARKING LOT LIGHTS-REPLACE Quantity: (3) Double head lights Location: Parking lot Evaluation: No unusual conditions observed during inspection.These are constantly used in evening hours to provide a safe environment. Expect to replace these every 15-20 years. Useful Life: 20 years Remaining Life: <y 10 years s ; • • Best Case: $3,000.00 Worst Case: $42,000.00 $500/head; Estimate to replace $700/head; Higher estimate for some repairs to poles Cost Source:ARI Cost Database Comp#: 325 INTERIOR LIGHTS-REPLACE Quantity: Numerous fixtures Location: Interiors of units Evaluation: No reports of problems or malfunctioning.These are replaced as needed as a maintenance issue. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 5 of 24 1 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Illrw Comp#: 326 FLORESCENT LIGHTS-REPLACE Quantity: Approx.37 fixtures Location: Breezeways of buildings Evaluation: All appear to be functioning normally with no unusual conditions observed. Individual replacement cost if too small for separate funding. Replace as needed with general maintenance. Useful Life: ; . r Remaining Life: ;.r itno fit N ,, Best Case: Worst Case: Cost Source: Air Comp#: 403 MAILBOXES-REPLACE Quantity: (64) Boxes, (2)parcel Location: Entrance by office Evaluation: Fairly new and in good shape. In these elements, expect to replace every 15-20 years,depending on level of exposure to elements and overall care. T .: V .tr —T°F. 4 ,t ) I ,. 1 71,3 Useful Life: =x . 20 years i' . Remaining Life: , ,, 1 t,, 16years • ' `' _ �` itit,„ .. Best Case: $2,300.00 Worst Case: $3,000.00 $35/box; Estimate to replace $45/box; Higher estimate for better quality Cost Source: ARI Cost Database (..„ February 29,2000 Page 6 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 404 PATIO FURNITURE-REPLACE ". Quantity: (12)Assorted pieces Location: Adjacent to pool Evaluation: All are in fair condition.Well protected from elements. Replacement cycle depends on level of care and use. Expect to replace every 4-6 years. (6)Chaise lounges, (4)chairs, (1)table, (1) umbrella. Useful Life: "- ' 5 years _ lii' J� ' Remaining Life: _ AO. • •. 3 years r ;:�..0- . Best Case: $1,200.00 Worst Case: $1,800.00 Estimate to replace with similar quantity and quality Higher estimate for more quantity Cost Source: ARI Cost Database Comp#: 405 PLAY EQUIPMENT-REPLACE Quantity: Metal structure Location: Behind building A Evaluation: Very stable and intact.This is older equipment, but due to type of materials,this has a very long life expectancy. Eventually, may want to replace with a more modern play system. Useful Life: j - : It 1_ • 30 years NV . -,N --- it •- i ii ;*11111111 Remaining Life: Militi:".t v ! • I �► 15 years __ �''- - . s C Best Case: $5,000.00 Worst Case: $7,500.00 Estimate to replace with an upgraded system Higher estimate for more advanced system Cost Source:ARI Cost Database February 29,2000 Page 7 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe 'Nosy Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx.775 LF Location: Trash enclosures,perimeter of property Evaluation: Wall was structurally stable and intact during inspection.This type of wall has an extended life expectancy and complete replacement should not be anticipated under normal conditions. No separate funding required. ip , ' = t t. .� _IA&. • ., Useful Life: • a i '* • - N S r.NW iv& eRemaining Life: „ :=5 !; '`�• ` L ; --, -' .< -• : Best Case: Worst Case: Cost Source: ' Comp#: 503 METAL FENCE/RAIL-REPLACE Quantity: Approx. 1400 LF Location: Balcony railing, handrails for stairways, pool fence Evaluation: Stable and intact at time of inspection. No expectancy for complete replacement at same time. Plan on periodic repairs and partial replacements. - ‘14‘ Useful Life: 12 years Remaining Life: . v .: 4 years >� 4, Best Case: $7,000.00 Worst Case: $8,750.00 Estimate to replace 25%of area at this interval Higher estimate for more repairs Cost Source: ARI Cost Database February 29,2000 Page 8 of 24 Association Reserves, Inc. Inventory Appendix Client: 82O5A Desert Pointe Comp#: 506 LODGEPOLE FENCING- REPLACE "" Quantity: Approx. 300 LF Location: Lower level of each building Evaluation All fencing is very stable and intact.This type of material will have an extended life expectancy and complete replacement is not expected.Treat repairs or partial replacements as an operating issue. lig -1.,,, _ f _ i' Useful Life: 4 . 4 :C z g , s r Remaining .Life: ,, a µ 4 .ice t Best Case: Worst Case: Cost Source: Comp#: 507 METAL GATES-REPLACE ... ' Quantity: Approx.30 LF(6 gates) Location: Trash enclosures Evaluation: Currently in good to fair shape with typical signs of abuse and deterioration. No well defined life expectancy. Replace individually as needed with maintenance funds. t Useful Life: " • it 1 : Remaining Life: M it �' i- a fi Best Case: Worst Case: Cost Source: (:) February 29,2000 Page 9 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 601 CARPET-REPLACE Quantity: Approx. 3150 GSY Location: Interior units and office Evaluation: (9) units(#4,9,7,15,22,30,49,50, and 60)were replaced in 1999. Due to total number of units and varying conditions, expect to replace 9 units(approx 1/7 of total) every year. Useful Life: 1 years Remaining Life: Photo Not Available 0 years Best Case: $3,825.00 Worst Case: $4,500.00 Estimate to replace 450 GSY(approx 1/7)per year Higher estimate,$10/Sq Yd at$8.50 per sq yard Cost Source: Client Cost History `r Comp#: 602 LINOLEUM FLOOR-REPLACE Quantity: Approx. 495 GSY Location: Restrooms, kitchens of each unit Evaluation: (4) units(#7,9,30, and 50)were replaced in 1999. Due to varying conditions,expect to replace the flooring in approximately 9 units(approx 1/7 th of total units)per year. Useful Life: • .;- 1 years Remaining Life: ° 0 years -. • i .. ---- Best Case: $850.00 Worst Case: $1,000.00 Estimate to replace 70 GSY per year at$12 per sq Higher estimate,$14/Sq Yd yard Cost Source: ARI Cost Database February 29,2000 Page 10 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 702 UTILITY DOORS-REPLACE Quantity: (19)3 x 7 doors Location: Pool building,ends of buildings Evaluation: Overall good shape with minimal signs of wear and deterioration. Replacement cycle ranges from 15-20 years, depending on level of exposure to elements and quality of door. ;' R Useful Life: y .' j 4-- . 4, ' ,, 'f*.Tww - 18 years p (" f,..: ' g = 7 ` Remaining Life: -( 4 - r '' 4 8 years 7'.;* - � r 1� r yhas �•......., Best Case: $1,350.00 Worst Case: $1,900.00 $70/door; Estimate to replace $100/door; Higher estimate for better quality Cost Source:ARI Cost Database Comp#: 803 WATER HEATER/TANK-REPLACE(A) Quantity: (1)American, 100 gallon Location: Building A utility closet Evaluation: This unit is older and in fair condition with typical signs of wear and age.These typically have a life expectancy of 10- 15 years,depending on use and capacity. Serial #892630359, model#DSID199-101-2. I e Useful Life. . ,,-on ' ax 15 years :. x a� t Remaining Life: I"' 4 years f " `,,= 1; 744 ,,. .idita M'._ Best Case: $1,800.00 Worst Case: $2,500.00 $1800/heater; Estimate to replace with similar size $2500/heater; Higher estimate Cost Source: Client Cost History February 29,2000 Page 11 of 24 • Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe *o" Comp#: 803 WATER HEATER/TANK-REPLACE(B) Quantity: (1) State, 100 gallon Location: Laundry room in building B Evaluation: This unit is older and in fair condition with typical signs of wear and age.These typically have a life expectancy of 10- 15 years,depending on use and capacity. Serial#J90774620, model #SBF100199NES70E. Useful Life: 15 years 4 Remaining Life: 5 years ,git tr Best Case: $1,800.00 Worst Case: $2,500.00 $1800/heater; Estimate to replace with similar size $2500/heater; Higher estimate Cost Source: ARI Cost Database `,tr. Comp#: 803 WATER HEATER/TANK- REPLACE(units) Quantity: (28)30 gallon heaters Location: Units of the C and D buildings Evaluation: Of the units inspected,all appeared to be about 10 years old.These service the units within these buildings. Expect to replace approximately 6 units every other year. Useful Life: xt; ` 2 years gr- Remaining Life: 1 years Best Case: $2,100.00 Worst Case: $2,700.00 Estimate to replace and install 6 units at this interval Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 12 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 804 WATER STORAGE TANK-REPLACE Quantity: (1) State, 120 gallons Location: Utility closet in building A Evaluation: Minor corrosion was noted on pipes.This tank is used for storage purposes only.Typical life expectancy for these units range from 10- 12 years. Serial #A91982136, model#PV120200RH. • • Useful Life: 7, T j , a 12 years I Remaining Life: " u 3 years Best Case: $1,100.00 Worst Case: $1,500.00 $1100/tank; Estimate to replace $1500/tank; Higher estimate Cost Source: ARI Cost Database Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE Quantity: (64) Kitchens Location: Interior of each unit Evaluation: Conditions vary from unit to unit depending on amount of use and abuse. Expect to replace the cabinets in 2-3 kitchens per year, working your way through the property in approx 25 yrs. "tt- Useful Life: , I I ps 1 years I ) t Remaining Life: 0 years Imo : I v< t t I , It Best Case: $3,000.00 Worst Case: $6,900.00 $1500/kitchen; Estimate to replace 2 sets of $2300/kitchen; Higher cost estimate,assume 3 kitchens per year kitchens. Cost Source:ARI Cost Database February 29,2000 Page 13 of 24 Association Reserves, Inc. Inventory Appendix Client: 82O5A Desert Pointe ‘1411"' Comp#: 908 WINDOW TREATMENTS-REPLACE Quantity: Vertical and mini blinds Location: Interior of each unit Evaluation: Conditions vary from unit to unit.These are replaced as needed with general maintenance funds, not as a capital project. F ya reY.4.;-,:., t > ' Useful Life: �- ,; i i '; 5 i rt. XF Y. L .` Remaining Life: „ �� i I, , [ ' i" .- • � � r i s i �a � $ *-,4.- a5, tip. Best Case: Worst Case: Cost Source: *quer Comp#: 909 BATHROOM- REFURBISH Quantity: (66) Bathrooms Location: Most units have 1 bathroom, (2) units have 2 bathrooms Evaluation: Conditions vary from unit to unit,depending on level of use and care. Expect to refurbish 4 units per year (eventually working your way through the property in approx 18 yrs). Vt.; ill Useful Life: 1 years a w f Remaining Life: 0 years . s ' ''.li‘iii . — Best Case: $7,000.00 Worst Case: $9,000.00 $1750/bathroom; Low estimate for minor refurbish $2250/bathroom; Higher estimate project to 4 units per year(4 restrooms) Cost Source: ARI Cost Database February 29,2000 Page 14 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 910 LAUNDRY ROOM-REMODEL Quantity: (2) Laundry rooms Location: Building B and pool building Evaluation: Both rooms have relatively new flooring and new paint. Machines are leased and not owned by property. Expect minor maintenance refurbishment's, but not a complete remodel. Repaint and replace flooring as maintenance. Useful Life: Remaining Life: Photo Not Available i Best Case: Worst Case: Cost Source: Comp#: 910 OFFICE-REMODEL Quantity: (1)80 GSF office Location: Lower level of Building A Evaluation: Carpeting,furniture,and equipment was replaced in 1999. Expect to refurbish every 7 years to upgrade computer equipment, replace carpet, and replace furniture (if needed). a i -_ �. : X." _1 Useful Life: - . 7 years a Remaining Life: 6 years < . ,.I.Aip•P v Best Case: $2,800.00 Worst Case: $3,500.00 Estimate for new carpeting,computer equipment, Higher estimate etc. Cost Source: ARI Cost Database February 29,2000 Page 15 of 24 • Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe '''ow Comp#: 920 REFRIGERATORS-REPLACE Quantity: (64)Various types Location: Kitchens of all units Evaluation: Majority of units inspected appeared to be about 10 years old. Expect to replace approx 6 units per year, eventually replacing all approx. every 12 yrs. 00-7 --- "` `'t Useful Life: 1 years 5 } Remaining Life: 0 years �w Best Case: $3,000.00 Worst Case: $4,200.00 $500/unit; Estimate to replace 6 per year $700/unit; Higher estimate for better quality(6 per year) Cost Source:ARI Cost Database \rr Comp#: 922 STOVE/OVEN-REPLACE Quantity: (64)Various types Location: Kitchens of all units Evaluation: Conditions and types vary for these from unit to unit. Expect to replace approx 6 per year on an ongoing basis (depending on level of care and use) for an average life expectancy of 12 yrs. mum • Useful Life: _ 1 years Remaining Life: ° i O�'Oeh .,, 0 years itt 1 i { Best Case: $2,400.00 Worst Case: $3,600.00 $400/unit; Estimate to replace 6 units annually $600/unit; Higher estimate for a better quality unit (6 per year) Cost Source: ARI Cost Database Ner February 29,2000 Page 16 of 24 Association Reserves, Inc. Inventory Appendix Client: 82O5A Desert Pointe Comp#: 928 WASHERS/DRYERS-REPLACE Quantity: (5)of each Location: (2) Laundry rooms. Evaluation: These units are leased through Excalibur. No funding for replacement is necessary. Useful Life: Remaining Life: Best Case: Worst Case: Cost Source: Comp#: 1003 IRR.TIMECLOCKS-REPLACE Quantity: (3) Rainbird clocks Location: Utility closet in Building A, attached to wall of building A Evaluation: One unit is newer(4 station). Cost of this unit is too small for separate funding.The other(2)units are older and have 12 stations. Expect to replace these in the near future. Useful Life: haw+ ;, 12 years a`8 Remaining Life: 2 years • ,tom Best Case: $1,300.00 Worst Case: $1,700.00 $650/clock; Estimate to replace $850/clock; Higher estimate Cost Source:ARI Cost Database I February 29,2000 Page 17 of 24 Association Reserves, Inc. Inventory Appendix at Client: 8205A Desert Pointe Comp#: 1005 LANDSCAPE-REPLENISH Quantity: Extensive ground coverage Location: Common areas throughout complex Evaluation: Overall in good condition. Expect to perform ongoing repairs and replenishment to maintain appearance. Do not expect a complete capital project. ,'+ t' Ago ` Useful Life: _._. _ , ` • e- " 701111.16. �L tbt— . A ,� , "qy Remaining Life: 1 ,ii t • ... L `4' lilt. -r.• a' y,y,, •' - v ar -1 Best Case: Worst Case: Cost Source: IIIP Comp#: 1101 FRONT/UTILITY DOORS-REPAINT Quantity: (83) 3 x 7 doors Location: Laundry rooms, sides of each building, entry to each unit Evaluation: Conditions vary from unit to unit. Doors that are heavily exposed to sun and elements are faded and dull. Coordinate with other painting projects for best cost estimates. 1-,-; Useful Life: 5 years 11 60 1 ftt '..E a. Remaining Life: T t j 3 years -------- S i �,Y o;F. a :- t',.-,.4 Best Case: $3,350.00 Worst Case: $5,000.00 $40/door; Estimate to repaint $60/door; Higher estimate for additional prep work Cost Source: ARI Cost Database tr, February 29,2000 Page 18 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 1105 BLOCK WALL FENCE- REPAINT Quantity: Approx. 3350 GSF Location: Trash enclosures, perimeter of property Evaluation: Some minor fading of paint and staining was noted. These surfaces will be in need of repainting every 4-5 years due to constant exposure to irrigation spray. 'I Useful Life: •; ,„ { 1.671145 years s • Remaining Life: ti 3 years Best Case: $1,350.00 Worst Case: $1,850.00 $.40/GSF; Estimate to repaint $.55/GSF; Higher estimate for more prep work Cost Source: ARI Cost Database Comp#: 1107 METAL FENCE/RAIL- REPAINT Quantity: Approx. 1400 LF Location: Balconies of each unit, handrails in breezeways Evaluation: Some fading and chipping of paint noticed. Suggest repainting to protect materials from further rusting. Expect to repaint every 4 years. yyf{f sf1rt{/f )y 11� L`ifi l7�iif l IH Useful Life: 171.::€,rs; ,dap 4 years �Remaining Life: i I 0 years 1) =i 1i ll ; ` 1! €� _i�}� �'', ,.III i I i Best Case: $3,500.00 Worst Case: $4,900.00 $2.50/LF; Estimate to repaint Higher estimate for more prep work Cost Source: ARI Cost Database February 29.2000 Page 19 of 24 Association Reserves, Inc. Inventory Appendix Client: 82O5A Desert Pointe *Is" Comp#: 1110 BREEZEWAY WALL SURFACES-REPAINT Quantity: Approx.4720 GSF Location: Walls and ceiling of breezeways(not stucco covered) Evaluation: Overall good condition with some minor staining noted in the building A breezeway.These surfaces are repainted by maintenance staff as an operating issue. Useful Life: T ' W S► #- Remaining Life: •i r r h, Best Case: Worst Case: Cost Source: �.- Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Extensive GSF Location: Interior walls of units and laundry rooms Evaluation: Surfaces are repainted upon a tenant moving out or on an as needed basis.This work is performed as a maintenance issue. No separate funding required. 4Y + Useful Life: Remaining Life: — -•� I Best Case: Worst Case: Cost Source: February 29,2000 Page 20 of 24 • Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 1115 STUCCO-REPAINT Quantity: Approx.43,600 GSF Location: Exterior building surfaces Evaluation: Some minor staining and chalkiness beginning to develop. No reports of buildings being recently painted. Based on condition and assumed age, expect to repaint within the next 3-4 years. r r Useful Life: 10 years t S 1• • Remaining Life: , 3 ears Y Best Case: $32,700.00 Worst Case: $39,250.00 $.75/GSF; Estimate to repaint $.90/GSF; Higher estimate for more prep work Cost Source:ARI Cost Database Comp#: 1116 WOOD SURFACES-REPAINT Quantity: Moderate GSF Location: Underneath balcony decks, minimal trim, lodgepole fencing Evaluation: Some dryness and warping noted on some units.These areas should be touched up to protect from further deterioration. Expect to completely repaint every 5 years. • Useful Life: 5 years Remaining Life: � 3 years • Best Case: $9,600.00 Worst Case: $12,800.00 $150/unit; Estimate to repaint $200/unit; Higher estimate Cost Source: ARI Cost Database n✓ February 29,2000 Page 21 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe `gore Comp#: 1202 POOL-RESURFACE Quantity: (1)31 x 17 pool Location: Pool area Evaluation: Poor condition with discoloring,thinning, and roughness noted.This pool is subject to heavy use and abuse during summer months. Per the service person,this pool will need to be resurfaced soon. r ;i 1Ia1ICI1IIN? : Useful Life: +"li►;ixx• •". .. :.,�.: . 10 years Remaining Life: " 0 years am,e4� ._ r . ; j Best Case: $3,500.00 Worst Case: $4,800.00 Estimate to resurface and retile Higher estimate for more labor Cost Source: ARI Cost Database irr Comp#: 1207 POOL FILTER- REPLACE Quantity: (1) Sta-Rite,48 GSF Location: Pool equipment room, enclosed Evaluation: Some signs of rust and corrosion. Per service person, expect to replace within the next 2 years.Typical life expectancy ranges from 10- 12 years. Serial#4281 B. Model#84548-2. • Useful Life: Ti / 12 years 41 Remaining Life: 2 years y Pr Best Case: $900.00 Worst Case: $1,100.00 $900/filter; Estimate to replace $1100/filter; Higher estimate Cost Source:ARI Cost Database Irnie February 29,2000 Page 22 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe Comp#: 1210 POOL PUMP-REPLACE Quantity: (1) Maxiglas, 1 HP Location: Pool equipment area, enclosed Evaluation: No reports of problems or malfunctioning. Useful life varies too much and replacement cost is too small for separate funding. Replace when needed with general maintenance funds. Useful Life: Remaining Life: — - • 141 Best Case: Worst Case: Cost Source: Comp#: 1301 FLAT ROOF-REPLACE Quantity: Approx.28150 GSF Location: Rooftop of buildings Evaluation: All roofs were recently replaced in 1999. No unusual conditions were observed at time of inspection.Typical life expectancy ranges from 10- 15 years, depending on level of foot traffic and quality of installation. Useful Life: 12 years , Remaining Life: ' 11 years r: ,?:gig ,. • tt - Best Case: $46,450.00 Worst Case: $56,300.00 $1.65/GSF; Estimate to replace $2.00/GSF; Higher estimate for more labor Cost Source: Client Cost History February 29,2000 Page 23 of 24 Association Reserves, Inc. Inventory Appendix Client: 8205A Desert Pointe " Comp#: 1803 FIRE ALARM SYSTEM-REPLACE Quantity: Extensive system Location: Utility closet in Building A Evaluation: No reports of problems or malfunctioning.This system should be inspected by a professional at least once a year and repaired as needed with general maintenance funds. No separate funding required. Useful Life: s Remaining Life: Best Case: Worst Case: Cost Source: '`. Comp#: 1808 TREES-TRIM Quantity: Numerous trees Location: Throughout common areas Evaluation: Minor overgrowth and encroachment on buildings noted. Current conditions do not require immediate trimming, but anticipate within next 1 -2 years. Expect to trim every 4 years. .,art kip;' 'f%1 �, ; } titi. Useful Life: r,,•••�r §r _ ! • ' t ` t 4 years -4"7 ,, � + . T ,-yam" 'I' I Remaining Life: i , :;,i N.v, • i r v. I 1 years + z . I t _ I • SA•- 'f , " LI i` t it i. r ,. '' ' t Iii. Best Case: $2,500.00 Worst Case: $3,500.00 Estimate for minor trimming Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 24 of 24 Corporate Office A SSOCIATION Local Offices P.O.Box 8637 Phoenix,AZ Calabasas, CA 91372 P ESERVES, INC. San Francisco,CA Ilw TEL 800/733-1365 Denver,CO FAX 800/733-1581 "R z1 �, = ," -1.i Honolulu,HI www.ReserveStudy.com Resew,e Studies forCommunity Asociations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN© 4 :j�Y �► r* s 4. t . - 1 �► } ' ) r ,• �' ,t.1.4 A. . �f r i Las Serenas Palm Desert, CA For the Period From: January 1, 2000 Through: December 31, 2000 Report# 8209-0 Date Prepared: February 29, 2000 Nu.. TABLE of CONTENTS 'rr EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix • CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY err• Report #: 8209-0 Property Name: Las Serenas Apartments Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $966,490 Recommended Capital Contribution: $11,400/month The Las Serenas Apartment complex includes 24 separate one-story buildings, each with 8 units. The complex also includes 3 pools, one spa, clubhouse, carports and asphalt driveways & parking areas. The property was developed in 1990. The information in this Report is based on our on-site inspection of the property and some background investigation into recently completed projects. The various building components identified for inclusion in the Capital Replacement Plan are summarized on the following page. This page also includes Useful Life & Remaining life estimates and replacement cost estimates for each component. A number of smaller components have not been included for funding due to their low cost or would be handled as on-going maintenance expenses. This would include sliding closet doors, exterior & interior light fixtures, interior painting, water heater pumps and garbage disposals. The property has on-site maintenance personnel who take care of smaller repairs and carry painting of all metal fencing. A number of capital projects were recently completed. These include partial replacement of pool equipment and partial replacement of unit carpeting & linoleum flooring. There are a few components that were found to be in poor condition at the time of inspection and have been programmed for the year 2000. These include re-coating all pool decks, sealing all asphalt areas, replacing the rear vehicular gate, repairing selected stucco planter walls, partial replacement of plywood utility doors, painting all exterior wood trim and doors and replacing one pool heater & the spa heater. Interior components such as refrigerators and stoves had a variety of conditions and we have progranuned these components for partial replacement on an annual basis. Based on our assessment and evaluation of the complex, we are recommending minimum capital contribution set-aside of $11,400 per month during the initial year of this Report (year 2000). This is also based on the assumption that a starting Reserve Cash Balance of $966,490 is available as of 1/1/2000. It also assumes that any interest earnings on the Reserve deposits will accrue to the Reserve fund. Our 30-year analysis assumes that future set-asides will need to be increased at the rate of 3% each year in order to offset inflation. Association Reserves, Inc. Executive Summary® 8209-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Las Serenas Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 104 POOL DECKS - RECOAT 5 0 $7,055 $8,179 201 ASPHALT- RESURFACE 20 10 $60,420 $81,199 202 ASPHALT- SEAL/REPAIR 5 4 $8,045 $9,055 205 CONCRETE DRIVE - REPAIR 20 10 $4,365 $5,866 303 FURNACES - REPLACE 20 11 $217,500 $301,071 303 HVAC SYSTEM - REPLACE(clubhouse) 15 6 $4,400 $5,254 303 HVAC UNITS - REPLACE (units) 20 11 $102,000 $141,192 303 HVAC UNITS - REPLACE (units) 20 11 $50,000 $69,212 320 POLE LIGHTS - REPLACE 25 15 $10,350 $16,125 403 MAILBOXES - REPLACE 25 14 $6,952 $10,516 404 POOL FURNITURE - REPLACE 6 3 $935 $1,022 404 POOL FURNITURE - REPLACE 8 5 $5,485 $6,359 407 GAS BBQ - REPLACE 6 3 $2,250 $2,459 502 CHAIN LINK FENCE - REPLACE 30 20 $17,900 $32,329 504 CHAIN LINK GATE - REPLACE 99 0 $3,950 $0 601 CARPET- REPLACE (clubhouse) 6 3 $2,940 $3,213 601 CARPET - REPLACE (units) 6 5 $8,395 $9,732 601 CARPET- REPLACE (units) 6 1 $16,000 $16,480 601 CARPET- REPLACE (units) 6 0 $16,000 $19,105 601 CARPET- REPLACE (units) 6 3 $17,000 $18,576 602 LINOLEUM FLOOR - REPLACE (units) 10 9 $3,250 $4,241 602 LINOLEUM FLOOR - REPLACE (units) 10 3 $6,175 $6,748 602 LINOLEUM FLOOR - REPLACE (units) 10 1 $6,175 $6,360 602 LINOLEUM FLOOR - REPLACE (units) 10 5 $6,435 $7,460 602 LINOLEUM FLOOR - REPLACE(clubhou 10 6 $840 $1,003 702 UTILITY DOORS - REPLACE 5 0 $1,665 $1,930 803 WATER HEATER - REPLACE (laundry) 10 7 $2,550 $3,136 803 WATER HEATER - REPLACE (units) 12 4 $32,500 $36,579 803 WATER HEATER - REPLACE (units) 12 2 $32,500 $34,479 803 WATER HEATER - REPLACE(units) 12 6 $32,500 $38,807 903 FOLDING FURNITURE - REPLACE 15 6 $3,130 $3,737 903 FURNITURE - REPLACE (model) 18 11 $3,685 $5,101 903 FURNITURE - REPLACE(clubhouse) 15 7 $13,975 $17,187 904 KITCHEN CABINETS - REPLACE (club) 25 15 $2,700 $4,207 904 KITCHEN CABINETS - REPLACE (units) 25 15 $285,300 $444,488 908 WINDOW TREATMENTS (clubhouse) 15 6 $2,535 $3,027 908 WINDOW TREATMENTS - REPLACE (uni 15 4 $56,000 $63,028 909 BATHROOMS - REFURBISH 18 8 $300,000 $380,031 911 OFFICE FURN. - REPLACE 18 10 $4,225 $5,678 912 OFFICE EQUIPMENT- REPLACE 8 6 $4,900 $5,851 920 REFRIGERATORS - REPLACE 1 0 $7,225 $7,442 922 APPLIANCES - REPLACE (clubhouse) 12 8 $1,525 $1,932 922 OVENS - REPLACE 1 0 $8,940 $9,208 1001 BACKFLOW DEVICES - REPLACE 18 8 S14,440 $18,292 1003 IRR. TIMECLOCKS - REPLACE 15 5 $2,925 $3,391 1101 FRONT DOORS - REPAINT 5 0 $7,600 $8,810 1105 BLOCK WALL FENCE - REPAINT 10 5 $5,335 $6,185 1113 CARPORTS - REPAINT 10 6 $9,450 $11,284 ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY 8209-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY 1115 STUCCO - REPAINT 10 5 $81,375 $94,336 1116 WOOD SURFACES - REPAINT 5 0 $43,975 $50,979 1120 POOL SHADE TRELLIS - REPLACE 20 11 $5,950 $8,236 1202 POOLS - RESURFACE 12 3 $12,225 $13,359 1204 SPA - RESURFACE 10 1 $1,675 $1,725 1207 POOL FILTER - REPLACE 15 11 $925 $1,280 1207 POOL FILTER - REPLACE 15 5 $2,050 $2,377 1207 SPA FILTER - REPLACE 15 5 $875 $1,014 1208 POOL HEATER - REPLACE 10 0 $2,075 $2,789 1208 POOL HEATER - REPLACE 10 8 $2,050 $2,597 1208 POOL HEATER - REPLACE 10 9 $2,075 $2,707 1208 SPA HEATER - REPLACE 10 0 $2,025 $2,721 1302 CAP SHEET ROOF - REPLACE 12 2 $51,700 $54,849 1304 TILE ROOF - REPAIR 20 9 $92,950 $121,279 1315 CARPORT ROOFS - REPLACE 30 19 $69,850 $122,482 1315 CARPORT ROOFS - REPLACE 30 29 $39,600 $93,320 1405 BLDG. I.D. LETTERS - REPLACE 12 1 $1,660 $1,710 1808 TREES -TRIM 4 1 $6,500 $6,695 1810 UTILITY VEHICLES - REPLACE 15 2 $2,750 $2,917 67 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY INTRODUCTION The property described herein is a large 150-unit apartment building. This development includes three pools, one spa, covered parking, and laundry facilities. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. Now Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY • The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an on-site inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with Ntior the history and operating practices of the building. These included: City personnel, management personnel, and the pool vendor. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS The Las Serenas Apartments include 24 separate one-story buildings, each with 8 units. The complex also includes 3 pools, one spa, clubhouse, carports and asphalt driveways & parking areas. The property was developed in 1990. The information in this Report is based on our on- site inspection of the property and some background investigation into recently completed projects. Since we did not have the benefit of observing your association over any significant period of time, we expect that future versions of this Report may contain revisions to life expectancies and life remaining estimates. The various building components identified for inclusion in the Capital Replacement Plan are summarized on Table 1 (page 6). This table also includes Useful Life & Remaining life estimates and replacement cost estimates for each component. A number of smaller components have not been included for funding due to their low cost or would be handled as on-going maintenance expenses. This would include sliding closet doors, exterior&interior light fixtures, interior painting, water heater pumps and garbage disposals . A number of capital projects were recently completed. These include partial replacement of pool equipment and partial replacement of unit carpeting & linoleum flooring. There are a few components that were found to be in poor condition at the time of inspection and have been programmed for the year 2000. These include re-coating all pool decks, sealing all asphalt areas, replacing the rear vehicular gate, repairing selected stucco planter walls, partial replacement of plywood utility doors, painting all exterior wood trim &doors and replacing one pool hater & the spa heaters. Interior components such as refrigerators and stoves had a variety of conditions and we have programmed these components for partial replacement on an annual basis. Based on our assessment and evaluation of the complex, we are recommending minimum capital contribution set-aside of $11,400 per month during the initial year of this Report (year 2000). This is also based on the assumption that a starting Reserve Cash Balance of $966,490 is available as of 1/1/2000. It also assumes that any interest earnings on the Reserve deposits will accrue to the Reserve fund. Our 30-year analysis assumes that future set-asides will need to be increased at the rate of 3% each year in order to offset inflation. The expenditures for future years can be summarized as follows: 0-5 years: $449,420 5-10 years: $1,016,076 10 - 15 years: $1,076,074 15 - 20 years: $1,352,939 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report please feel free to contact our office for clarification. Association Reserves, Inc. 4 Capital Replacement Plan CDO C W l \\\\`r\�� CC rnc 1; \\\\\\\\\\\\��\\ \\\t\\\\\\��«�\t\��\\ \�\\\\��\\\\\\ \\\\\\\ N N f W ____, ,,_,..: g \\\\\�\\\\\\\ O \\\\\\\\Z U W -1-, in O.. Li \\\\\\\\\\\\\\\\\\\\\\��\\\\\\ \\\�\\\�\\\` 5 in X § - \ \ \ N W 'u)^ 1\\\\ \\\\ \\\\\�\\\�\\\\\\\`�\\\\\\\ \\ 0 , T W 1 vvyvv.vyyvyv N > '4-- \\\\C�\\ \\\\ \\\ cC O i\\\_ _.._. _.._._.` L C) LLI 0) 7i N \"\\ W > -` o N 0 0 0 O O 0 0 0 O 1 0 O O O O O O O O O O O O O O O O O O O O O Et V3- -EA- Eft Ea fa -Ea Ea Ef} T 10- (spuesnoyl) SiVIOl -1Vfl N NV 8209-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Las Serenas Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 104 POOL DECKS-RECOAT Approx.6270 GSF 5 0 $6,270 $7,840 201 ASPHALT-RESURFACE Approx.89350 GSF 20 10 $53,600 $67,240 202 ASPHALT-SEAL/REPAIR Approx.89350 GSF 5 4 $7,150 $8,940 205 CONCRETE DRIVE-REPAIR Approx.3640 GSF 20 10 $3,640 $5,090 303 FURNACES-REPLACE (150) Furnaces 20 11 $195,000 $240,000 303 HVAC SYSTEM-REPLACE(clubhouse) (1)4-ton system 15 6 $4,000 $4,800 303 HVAC UNITS-REPLACE(units) (102) 1-ton condensers 20 11 $91,800 $112,200 303 HVAC UNITS-REPLACE(units) (50) 1.5-ton condensers 20 11 $45,000 $55,000 320 POLE LIGHTS-REPLACE (36) Pole Fixtures 25 15 $9,000 $11,700 403 MAILBOXES-REPLACE (158) Individual boxes 25 14 $6,320 $7,584 404 POOL FURNITURE-REPLACE (27)Assorted pieces 6 3 $850 $1,020 404 POOL FURNITURE-REPLACE (41)Associated pieces 8 5 $4,990 $5,980 407 GAS BBQ-REPLACE (4) BBQ's 6 3 $2,100 $2,400 502 CHAIN LINK FENCE-REPLACE Approx.1935 LF 30 20 $16,450 $19,350 504 CHAIN LINK GATE-REPLACE (1)24 ft.gate 99 0 $3,600 $4,300 601 CARPET-REPLACE(clubhouse) Approx.140 GSF 6 3 $2,100 $3,780 601 CARPET-REPLACE(units) (21) Units,840 GSY 6 5 $7,550 $9,240 601 CARPET-REPLACE(units) (43) Units, 1600 GSY 6 1 $14,400 $17,600 601 CARPET-REPLACE(units) (43) Units, 1600 GSY 6 0 $14,400 $17,600 601 CARPET-REPLACE(units) (45) Units, 1700 GSY 6 3 $15,300 $18,700 602 LINOLEUM FLOOR-REPLACE(units) (21) Units,250 GSY 10 9 $3,000 $3,500 602 LINOLEUM FLOOR-REPLACE(units) (43) Units,475 GSY 10 3 $5,700 $6,650 602 LINOLEUM FLOOR-REPLACE(units) (43) Units,475 GSY 10 1 $5,700 $6,650 602 LINOLEUM FLOOR-REPLACE(units) (45) Units,495 GSY 10 5 $5,940 $6,930 602 LINOLEUM FLOOR-REPLACE(clubhous Approx.65 GSY 10 6 $780 $900 702 UTILITY DOORS-REPLACE (38)4 x 5 plywood doors 5 0 $1,430 $1,900 803 WATER HEATER-REPLACE(laundry) (1) 100 GAL, 199000 BTU 10 7 $2,300 $2,800 803 WATER HEATER-REPLACE(units) (50)40 Gal. Heaters 12 4 $30,000 $35,000 803 WATER HEATER-REPLACE(units) (50)40 Gal.Heaters 12 2 $30,000 $35,000 803 WATER HEATER-REPLACE(units) (50)40 Gal. Heaters 12 6 $30,000 $35,000 903 FOLDING FURNITURE-REPLACE (45)Assorted pieces 15 6 $2,860 $3,400 903 FURNITURE-REPLACE(model) (14)Assorted pieces 18 11 $3,350 $4,020 903 FURNITURE-REPLACE(clubhouse) (46)Assorted pieces 15 7 $12,800 $15,150 904 KITCHEN CABINETS-REPLACE(club) Approx.30 LF 25 15 $2,400 $3,000 904 KITCHEN CABINETS-REPLACE(units) Approx.3170 LF 25 15 $253,600 $317,000 908 WINDOW TREATMENTS (clubhouse) Approx.290 GSF 15 6 $2,320 $2,750 908 WINDOW TREATMENTS-REPLACE (unit Approx.6400 GSF 15 4 $51,200 $60,800 909 BATHROOMS-REFURBISH (150) 5x8 Bathrooms 18 8 $270,000 $330,000 911 OFFICE FURN.-REPLACE (15)Assorted pieces 18 10 $3,750 $4,700 912 OFFICE EQUIPMENT-REPLACE (6)Assorted pieces 8 6 $4,400 $5,400 920 REFRIGERATORS-REPLACE (150) Hotpoint,18 c.f. 1 0 $6,000 $8,450 922 APPLIANCES-REPLACE(clubhouse) (4)Assorted appliances 12 8 $1,400 $1,650 922 OVENS-REPLACE (150)4-Burner stove,oven 1 0 $7,800 $10,080 1001 BACKFLOW DEVICES-REPLACE (21) Backflow devices 18 8 $13,650 $15,230 1003 IRR.TIMECLOCKS-REPLACE (3) Controllers 15 5 $2,700 $3,150 1101 FRONT DOORS-REPAINT (152)3 x 7 doors 5 0 $6,840 $8,360 1105 BLOCK WALL FENCE-REPAINT Approx. 12550 GSF 10 5 $5,020 $5,650 1113 CARPORTS-REPAINT Approx. 10500 GSF 10 6 $8,400 $10,500 1115 STUCCO-REPAINT Approx. 105,000 GSF 10 5 $73,500 $89,250 1116 WOOD SURFACES-REPAINT (152) Units,Clubhouse 5 0 $38,250 $49,700 1120 POOL SHADE TRELLIS-REPLACE Approx.425 GSF 20 11 $5,300 $6,600 1202 POOLS-RESURFACE (3) Pools,375 LF 12 3 $11,400 $13,050 1204 SPA-RESURFACE (1)9 ft.diameter spa 10 1 $1,500 $1,850 1207 POOL FILTER-REPLACE (1) 36 GSF Filter 15 11 $850 $1,000 1207 POOL FILTER-REPLACE (2)60 GSF Filter 15 5 $1,900 $2,200 1207 SPA FILTER-REPLACE (1)48 GSF Filter 15 5 $800 $950 1208 POOL HEATER-REPLACE (1) Raypak 333000 BTU 10 0 $1,950 $2,200 1208 POOL HEATER-REPLACE (1) Raypak 399000 BTU 10 9 $1,950 $2,200 1208 POOL HEATER-REPLACE (1) Raypak 399000 BTU 10 8 $1,900 $2,200 1208 SPA HEATER-REPLACE (1) Raypak 333000 BTU 10 0 $1,900 $2,150 ASSOCIATION RESERVES, INC. PAGE 6 8209-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Las Serenas Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 1302 CAP SHEET ROOF-REPLACE Approx.23500 GSF 12 2 $47,000 $56,400 1304 TILE ROOF-REPAIR Approx.78,300 GSF 20 9 $78,300 $107,600 1315 CARPORT ROOFS-REPLACE Approx. 17,460 GSF 30 19 $61,100 $78,600 1315 CARPORT ROOFS-REPLACE Approx.9,900 GSF 30 29 $34,650 $44,550 1405 BLDG.I.D. LETTERS-REPLACE (19) Foam letters 12 1 $1,420 $1,900 1808 TREES-TRIM Numerous mature trees 4 1 $6,000 $7,000 1810 UTILITY VEHICLES-REPLACE (1) 1983 EZ-GO cart 15 2 $2,500 $3,000 67 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES,INC. PAGE 6A 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $966,490 $1,032,729 $1,156,812 $1,228,277 $1,353,397 $1,422,088 $1,395,863 Annual Contribution $136,800 $140,904 $145,131 $149,485 $153,970 $158,589 $163,346 Interest Earnings $29,949 $32,600 $35,729 $38,674 $41,577 $42,213 $43,308 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $1,133,239 $1,206,432 $1,337,672 $1,416,436 $1,548,944 $1,622,890 $1,602,518 # Expenditures 104 POOL DECKS-RECOAT $7,055 $0 $0 $0 $0 $8,179 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $0 $9,055 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 $0 303 HVAC SYSTEM-REPLACE(clubhous $0 $0 $0 $0 $0 $0 $5,254 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $1,022 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $0 $0 $6,359 $0 407 GAS BBQ-REPLACE $0 $0 $0 $2,459 $0 $0 $0 502 CHAIN LINK FENCE-REPLACE $0 $0 $0 $0 $0 $0 $0 504 CHAIN LINK GATE-REPLACE $3,950 $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(clubhouse) $0 $0 $0 $3,213 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $0 $9,732 $0 601 CARPET-REPLACE(units) $0 $16,480 $0 $0 $0 $0 $0 601 CARPET-REPLACE(units) $16,000 $0 $0 $0 $0 $0 $19,105 601 CARPET-REPLACE(units) $0 $0 $0 $18,576 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $6,748 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $6,360 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $7,460 $0 602 LINOLEUM FLOOR-REPLACE(clubh $0 $0 $0 $0 $0 $0 $1,003 702 UTILITY DOORS-REPLACE $1,665 $0 $0 $0 $0 $1,930 $0 803 WATER HEATER-REPLACE(laundry $0 $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $36,579 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $34,479 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 $38,807 903 FOLDING FURNITURE-REPLACE $0 $0 $0 $0 $0 $0 $3,737 903 FURNITURE-REPLACE (model) $0 $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(clu $0 $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(unit $0 $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS(clubhouse) $0 $0 $0 $0 $0 $0 $3,027 908 WINDOW TREATMENTS-REPLACE( $0 $0 $0 $0 $63,028 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 $0 911 OFFICE FURN.-REPLACE $0 $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 $5,851 920 REFRIGERATORS-REPLACE $7,225 $7,442 $7,665 $7,895 $8,132 $8,376 $8,627 922 APPLIANCES-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 $0 922 OVENS-REPLACE $8,940 $9,208 $9,484 $9,769 $10,062 $10,364 $10,675 1001 BACKFLOW DEVICES-REPLACE $0 $0 $0 $0 $0 $0 $0 1003 IRR.TIMECLOCKS-REPLACE • $0 $0 $0 $0 $0 $3,391 $0 1101 FRONT DOORS-REPAINT $7,600 $0 $0 $0 $0 $8,810 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $0 $6,185 $0 1113 CARPORTS-REPAINT $0 $0 $0 $0 $0 $0 $11,284 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $94,336 $0 1116 WOOD SURFACES-REPAINT $43,975 $0 $0 $0 $0 $50,979 $0 1120 POOL SHADE TRELLIS-REPLACE $0 $0 $0 $0 $0 $0 $0 1202 POOLS-RESURFACE $0 $0 $0 - $13,359 $0 $0 $0 1204 SPA-RESURFACE $0 $1,725 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 $0 ASSOCIATION RESERVES, INC. PAGE 7 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Vow Year 2000 2001 2002 2003 2004 2005 2006 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $2,377 $0 1207 SPA FILTER-REPLACE $0 $0 $0 $0 $0 $1,014 $0 1208 POOL HEATER-REPLACE $2,075 $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE $2,025 $0 $0 $0 $0 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $54,849 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 $0 1405 BLDG.I.D.LETTERS-REPLACE $0 $1,710 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $6,695 $0 $0 $0 $7,535 $0 1810 UTILITY VEHICLES-REPLACE $0 $0 $2,917 $0 $0 $0 $0 Total Expenditures $100,510 $49,620 $109,395 $63,039 $126,856 $227,026 $107,369 ASSOCIATION RESERVES,INC. PAGE 7A 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $1,495,148 $1,650,637 $1,447,005 ''' $1,470,737 $1,498,048 $1,156,218 Annual Contribution $168,247 $173,294 $178,493 $183,848 $189,363 $195,044 Interest Earnings $47,124 $46,403 $43,708 $44,473 $39,761 $37,436 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $1,710,519 $1,870,334 $1,669,206 $1,699,058 $1,727,173 $1,388,698 # Expenditures 104 POOL DECKS-RECOAT $0 $0 $0 $9,481 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $81,199 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $10,497 $0 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $5,866 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $301,071 $0 303 HVAC SYSTEM-REPLACE(clubhous $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $141,192 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $69,212 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $1,220 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $2,936 $0 $0 $0 502 CHAIN LINK FENCE-REPLACE $0 $0 $0 $0 $0 $0 504 CHAIN LINK GATE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(clubhouse) $0 $0 $3,836 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $11,621 $0 601 CARPET-REPLACE(units) $19,678 $0 $0 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $0 $22,812 601 CARPET-REPLACE(units) $0 $0 $22,181 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $4,241 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $8,548 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(clubh $0 $0 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $0 $0 $0 $2,238 $0 $0 803 WATER HEATER-REPLACE (laundry $3,136 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 903 FOLDING FURNITURE-REPLACE $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(model) $0 $0 $0 $0 $5,101 $0 903 FURNITURE-REPLACE(clubhouse) $17,187 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(clu $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(unit $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS (clubhouse) $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE( $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $380,031 $0 $0 $0 $0 911 OFFICE FURN.-REPLACE $0 $0 $0 $5,678 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $8,886 $9,152 $9,427 $9,710 $10,001 $10,301 922 APPLIANCES-REPLACE (clubhouse) $0 $1,932 $0 $0 $0 $0 922 OVENS-REPLACE $10,995 $11,325 $11,665 $12,015 $12,375 $12,746 1001 BACKFLOW DEVICES-REPLACE $0 $18,292 $0 $0 $0 $0 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT DOORS-REPAINT $0 $0 $0 $10,214 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $0 $0 1113 CARPORTS-REPAINT $0 $0 $0 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 • 1116 WOOD SURFACES-REPAINT $0 $0 $0 $59,099 $0 $0 1120 POOL SHADE TRELLIS-REPLACE $0 $0 $0 $0 $8,236 $0 1202 POOLS-RESURFACE $0 $0 $0 $0 $0 $0 1204 SPA-RESURFACE $0 $0 $0 $0 $2,319 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $1,280 $0 ASSOCIATION RESERVES, INC. PAGE 8 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 NINNY Year 2007 2008 2009 2010 2011 2012 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $2,789 $0 $0 1208 POOL HEATER-REPLACE $0 $2,597 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $2,707 $0 $0 $0 1208 SPA HEATER-REPLACE $0 $0 $0 $2,721 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $121,279 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1405 BLDG.I.D.LETTERS-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $8,481 $0 $0 $0 1810 UTILITY VEHICLES-REPLACE $0 $0 $0 $0 $0 $0 Total Expenditures $59,883 $423,329 $198,469 $201010 $570,955 $45,860 Naar 41111, ASSOCIATION RESERVES,INC. PAGE 8A 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $1,342,839 $1,510,130 $1,581,458 $1,049,873 $1,208,624 $1,413,922 Annual Contribution $200,895 $206,922 $213,130 $219,524 $226,110 $232,893 Interest Earnings $42,738 $46,312 $39,418 $33,833 $39,286 $44,820 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $1,586,472 $1,763,365 $1,834,006 $1,303,229 $1,474,019 $1,691,635 # Expenditures 104 POOL DECKS-RECOAT $0 $0 $10,991 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAUREPAIR $0 $12,169 $0 $0 $0 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC SYSTEM-REPLACE(clubhous $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $16,125 $0 $0 $0 403 MAILBOXES-REPLACE $0 $10,516 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $1,457 $0 $0 $0 404 POOL FURNITURE-REPLACE $8,055 $0 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $3,505 $0 $0 $0 502 CHAIN LINK FENCE-REPLACE $0 $0 $0 $0 $0 $0 504 CHAIN LINK GATE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(clubhouse) $0 $0 $4,580 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $13,876 $0 601 CARPET-REPLACE (units) $23,497 $0 $0 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $0 $27,239 601 CARPET-REPLACE(units) $0 $0 $26,485 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $9,068 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $10,026 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(clubh $0 $0 $0 $1,348 $0 $0 702 UTILITY DOORS-REPLACE $0 $0 $2,594 $0 $0 $0 803 WATER HEATER-REPLACE(laundry $0 $0 $0 $0 $4,215 $0 803 WATER HEATER-REPLACE (units) $0 $0 $0 $52,153 $0 $0 803 WATER HEATER-REPLACE(units) $0 $49,159 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $55,329 903 FOLDING FURNITURE-REPLACE $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(model) $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(clu $0 $0 $4,207 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(unit $0 $0 $444,488 $0 $0 $0 908 WINDOW TREATMENTS(clubhouse) $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE( $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 911 OFFICE FURN.-REPLACE $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $7,412 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $10,610 $10,928 $11,256 $11,594 $11,942 $12,300 922 APPLIANCES-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 922 OVENS-REPLACE $13,129 $13,523 $13,928 $14,346 $14,776 $15,220 1001 BACKFLOW DEVICES-REPLACE $0 $0 $0 $0 $0 $0 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT DOORS-REPAINT $0 $0 $11,841 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $8,312 $0 $0 $0 1113 CARPORTS-REPAINT $0 $0 $0 $15,164 $0 $0 1115 STUCCO-REPAINT $0 $0 $126,780 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $68,512 $0 $0 $0 1120 POOL SHADE TRELLIS-REPLACE $0 $0 $0 $0 $0 $0 1202 POOLS-RESURFACE $0 $0 $19,046 $0 $0 $0 1204 SPA-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 ASSOCIATION RESERVES, INC. PAGE 9 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 '*'ilsiw. Year 2013 2014 2015 2016 2017 2018 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $3,490< 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE $0 $0 $0 $0 $0 $0, 1302 CAP SHEET ROOF-REPLACE $0 $78,201 $0 $0 $0 $0, 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1405 BLDG.I.D.LETTERS-REPLACE $2,438 $0 $0 $0 $0 $0 1808 TREES-TRIM $9,545 $0 $0 $0 $10,744 $0 1810 UTILITY VEHICLES-REPLACE $0 $0 $0 $0 $4,545 $0 Total Expenditures $76,342 $181,907 $784,133 $94,605 $60,098 $113,578 tiVi 1. ASSOCIATION RESERVES,INC. PAGE 9A 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $1,578,057 $1,564,488 $1,668,850 $1,847,297 $2,101,433 $2,377,862 Annual Contribution $239,880 $247,076 $254,488 $262,123 $269,987 $278,086 Interest Earnings $47,076 $48,436 $52,672 $59,153 $67,101 $75,311 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $1,865,013 $1,860,000 $1,976,011 $2,168,573 $2,438,520 $2,731,259 # Expenditures 104 POOL DECKS-RECOAT $0 $12,742 $0 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $14,107 $0 $0 $0 $0 $16,354 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC SYSTEM-REPLACE(clubhous $0 $0 $8,185 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $1,739 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $10,204 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $4,186 $0 $0 $0 502 CHAIN LINK FENCE-REPLACE $0 $32,329 $0 ' $0 $0 $0 504 CHAIN LINK GATE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(clubhouse) $0 $0 $5,469 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $16,568 $0 601 CARPET-REPLACE(units) $28,056 $0 $0 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $0 $32,525 601 CARPET-REPLACE(units) $0 $0 $31,625 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $5,699 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $12,187 $0 602 LINOLEUM FLOOR-REPLACE (units) $0 $0 $11,487 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(clubh $0 $0 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $0 $3,007 $0 $0 $0 $0 803 WATER HEATER-REPLACE(laundry $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $0 903 FOLDING FURNITURE-REPLACE $0 $0 $5,823 $0 $0 $0 903 FURNITURE-REPLACE (model) $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(clubhouse) $0 $0 $0 $26,778 $0 $0 904 KITCHEN CABINETS-REPLACE (clu $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(unit $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS (clubhouse) $0 $0 $4,716 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE ( $98,196 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 911 OFFICE FURN.-REPLACE $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $9,389 $0 $0 920 REFRIGERATORS-REPLACE $12,669 $13,049 $13,441 $13,844 $14,259 $14,687 922 APPLIANCES-REPLACE(clubhouse) $0 $2,754 $0 $0 $0 $0 922 OVENS-REPLACE $15,676 $16,147 $16,631 $17,130 $17,644 $18,173 1001 BACKFLOW DEVICES-REPLACE $0 $0 $0 $0 $0 $0 1003 IRR.TIMECLOCKS-REPLACE $0 $5,283 $0 $0 $0 $0 1101 FRONT DOORS-REPAINT $0 $13,726 $0 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $0 $0 1113 CARPORTS-REPAINT $0 $0 $0 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $79,424 $0 $0 $0 $0 1120 POOL SHADE TRELLIS-REPLACE $0 $0 $0 $0 $0 $0 1202 POOLS-RESURFACE $0 $0 $0 $0 $0 $0 1204 SPA-RESURFACE $0 $0 $3,116 $0 $0 $0 P 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 S0 I ASSOCIATION RESERVES,INC. PAGE 10 1 ) 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Nor Year 2019 2020 2021 2022 2023 2024 1207 POOL FILTER-REPLACE $0 $3,703 $0 $0 $0 $0 1207 SPA FILTER-REPLACE $0 $1,580 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $3,748 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $3,639 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE $0 $3,657 $0 $0 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $122,482 $0 $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1405 BLDG.I.D.LETTERS-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $12,092 $0 $0 $0 1810 UTILITY VEHICLES-REPLACE $0 $0 $0 $0 $0 $0 Total Expenditures $300,525 $191,150 $128,714 $67,140 $60,658 $81,739 L ASSOCIATION RESERVES, INC. PAGE 10A 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $2,649,520 $2,609,022 $2,055,163 $2,304,246 $2,564,470 $2,524,405 Annual Contribution $286,429 $295,022 $303,872 $312,989 $322,378 $332,050 Interest Earnings $78,774 $69,870 $65,305 $72,934 $76,232 $74,496 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $3,014,723 $2,973,914 $2,424,340 $2,690,168 $2,963,080 $2,930,950 # Expenditures 104 POOL DECKS-RECOAT $14,772 $0 $0 $0 $0 $17,124 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $146,655 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $0 $18,959 $0 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $10,595 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC SYSTEM-REPLACE(clubhous $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE(units) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 %`"$0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $2,077 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $0 $12,926 $0 407 GAS BBQ-REPLACE $0 $0 $4,998 $0 $0 $0 502 CHAIN LINK FENCE-REPLACE $0 $0 $0 $0 $0 $0 504 CHAIN LINK GATE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(clubhouse) $0 $0 $6,531 $0 $0 $0 i 601 CARPET-REPLACE(units) $0 $0 $0 $0 $19,783 $0 ............ 601 CARPET-REPLACE(units) $33,500 $0 $0 $0 $0 $0 601 CARPET-REPLACE(units) $0 $0 $0 $0 $0 $38,836 601 CARPET-REPLACE(units) $0 $0 $37,762 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $7,659 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $0 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(units) $13,473 $0 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(clubh $0 $1,812 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $3,486 $0 $0 $0 $0 $4,041 803 WATER HEATER-REPLACE (laundry $0 $0 $5,664 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $74,358 $0 $0 803 WATER HEATER-REPLACE(units) $0 $70,089 $0 $0 $0 $0 803 WATER HEATER-REPLACE(units) $0 $0 $0 $0 $0 $78,886 903 FOLDING FURNITURE-REPLACE $0 $0 $0 $0 $0 $0 903 FURNITURE-REPLACE(model) $0 $0 $0 $0 $8,684 $0 903 FURNITURE-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(clu $0 $0 $0 $0 $0 $0 904 KITCHEN CABINETS-REPLACE(unit $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS(clubhouse) $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE ( $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $646,977 $0 $0 $0 $0 911 OFFICE FURN.-REPLACE $0 $0 $0 $9,666 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $11,894 920 REFRIGERATORS-REPLACE $15,128 $15,581 $16,049 $16,530 $17,026 $17,537 922 APPLIANCES-REPLACE(clubhouse) $0 $0 $0 $0 $0 $0 922 OVENS-REPLACE $18,718 $19,280 $19,858 $20,454 $21,068 $21,700 1001 BACKFLOW DEVICES-REPLACE $0 $31,141 $0 $0 $0 $0 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT DOORS-REPAINT $15,913 $0 $0 $0 $0 $18,447 1105 BLOCK WALL FENCE-REPAINT $11,170 $0 $0 $0 $0 $0 1113 CARPORTS-REPAINT $0 $20,380 $0 $0 $0 $0 1115 STUCCO-REPAINT $170,381 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $92,074 $0 $0 $0 $0 $106,739 1120 POOL SHADE TRELLIS-REPLACE $0 $0 $0 $0 $0 $0 1202 POOLS-RESURFACE $0 $0 $27,155 $0 $0 $0 1204 SPA-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $1,995 $0 $0 $0 $0 ASSOCIATION RESERVES, INC. PAGE 11 I 8209-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 • Year 2025 2026 2027 2028 2029 2030 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $5,037 1208 POOL HEATER-REPLACE $0 $0 $0 $4,690 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $4,890 $0 1208 SPA HEATER-REPLACE $0 $0 $0 $0 $0 $4,915 1302 CAP SHEET ROOF-REPLACE $0 $111,496 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $219,043 $0 1315 CARPORT ROOFS-REPLACE $0 $0': $0 $0 $0 $0 1315 CARPORT ROOFS-REPLACE $0 $0 $0 $0 $93,320 $0 1405 BLDG.I.D.LETTERS-REPLACE $3,476 $0 $0 $0 $0 $0 1808 TREES-TRIM $13,610 $0 $0 $0 $15,318 $0 1810 UTILITY VEHICLES-REPLACE $0 $0 $0 $0 $0 $0 Total Expenditures $405,701 $918,751 $120,094 $125,699 $438,675 $482,406 lir lir- ASSOCIATION RESERVES, INC. PAGE 11 A Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 103 CONCRETE WALKS/DECKS- REPLACE Quantity: Extensive area Location: Common area walkways Evaluation: Normal conditions, minor surface cracking in isolated areas. No expectation to replace under normal circumstances. No Reserve funding required _ � r , impf Useful Life: •ase• .� S _ Remaining Life: Best Case: Worst Case: Cost Source: Comp#: 104 POOL DECKS-RECOAT Quantity: Approx. 6270 GSF Location: Surrounding pools and spa Evaluation: Advanced wear and deterioration, extensive staining, many voids. Appearance is poor at this time. Recommend re-coating in 2000 and on 5-year cycle thereafter. -. / ` f x _, - r, * Useful Life: `' ` F _ 5 years '' x.. r. ,,,, . Remaining Life: " 4-- n+ri 0 years �' y ,,..e\-,;#.,-,*, F� , 1, -- *: Wit, .`i Best Case: $6,270.00 Worst Case: $7,840.00 $1.00/GSF, Estimate to re-coat $1.25/GSF, Higher estimate, includes allowance for repairs Cost Source:ARI Cost Database February 29,2000 Page 1 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas INF Comp#: 201 ASPHALT-RESURFACE Quantity: Approx. 89350 GSF Location: Driveways and parking areas Evaluation: Original surfaces, minor wear of asphalt, loss of seal. Minor areas damaged form water run-off. Complete replacement not expected if periodically sealed& repaired, but plan on future overlay. ir,. �.�. Yt3 Useful Life: - a � 20 years : " .41- = 1s Remaining Life: — 10 years ., s . -`*. ,� :y n '�: . is 4 Best Case: $53,600.00 Worst Case: $67,240.00 $0.60/GSF, Estimate to resurface $0.75/GSF, Higher estimate Cost Source: ARI Cost Database Comp#: 202 ASPHALT-SEAL/REPAIR Quantity: Approx. 89350 GSF Location: Driveways, parking areas Evaluation: Significant loss of seal,very dry conditions, overall poor condition. Needs sealcoat and minor repairs at this time to protect and prolong asphalt. Assume work to be done this year with outside funds. Plan on 5 year cycle for future work. ..rjri I - - Useful Life: 2 4j:er 5 years . { �+. Remaining Life: 4 years '" � et ¢ ,i m "-- ='2 Wr +.<r �{F_.. .'ST, � a Best Case: $7,150.00 Worst Case: $8,940.00 $0.08/GSF, Estimate for seal and minor repairs $0.10/GSF, Higher estimate, more extensive repairs SIP Cost Source:ARI Cost Database February 29,2000 Page 2 of 43 • Association Reserves, Inc. Inventory Appendix • Client: 8209A Las Serenas Comp#: 205 CONCRETE DRIVE-REPAIR —.►. Quantity: Approx. 3640 GSF Location: Entry drive, adjacent of clubhouse Evaluation: This is colored and patterned concrete. Some staining and discoloration,very minor cracking noted. Extended life possible, but plan on future repairs or partial replacement. Plan on 10%of total area. Useful Life: -s:.,,; 20 years "� ,' `:*-.„ .7z :* - Remaining Life: ti` �� .- 10 years .4:,T. ..— . , m» . t 'e . .... . ,.,.... , , ... .. \ '..i ,....",„44.0 ,--,-4- , ' - . Best Case: $3,640.00 Worst Case: $5,090.00 $10/GSF x 10%,Allowance for to repairs $14/GSF x 10%, Higher allowance Cost Source: ARI Cost Database Comp#: 303 FURNACES-REPLACE Quantity: (150) Furnaces Location: Attics of each unit Evaluation: Original units, recent history of servicing and repairs. Overall good to fair conditions. it I i' rx, Useful Life: t- 20 years ;r --`" • Remaining Life: i 11 years ' .' 0. Best Case: $195,000.00 Worst Case: $240,000.00 $1300/unit, Estimate to replace $1600/unit, Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 3 of 43 4 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 303 HVAC SYSTEM-REPLACE(clubhouse) Quantity: (1)4-ton system Location: Furnace in attic,condensors outside on ground Evaluation: System is fully functional,well maintained and service regularly. Expect full useful life. Useful Life: t. , '_ 15 years Remaining Life: '- lesmt ''^, '-L' '"� I", 6 years `' -- . `'' tee. = ', _, = Best Case: $4,000.00 Worst Case: $4,800.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database Comp#: 303 HVAC UNITS- REPLACE(units) `r Quantity: (102) 1-ton condensers Location: Outside of units Evaluation: One or two have been replaced, but most are original units. Recent history of repairs, all reported in good working order, seasonal use expected Useful Life: ~- 20 years L - , , ,, /el Remaining Life: *-1_ i I��%01/ 11 years • ' .• • i000001 000 , • Best Case: $91,800.00 Worst Case: $112,200.00 $900/each, Estimate to replace $1100/each, Higher estimate Cost Source: ARI Cost Database,Client Cost History triilW February 29,2000 Page 4 of 43 Association Reserves, Inc. Inventory Appendix • Client: 8209A Las Serenas a Comp#: 303 HVAC UNITS-REPLACE(units) Quantity: (50) 1.5-ton condensers Location: Outside of units Evaluation: Some recent repairs,one or two are newer, but most are original. Extended life possible with seasonal usage. l-t T,E ds.. -_r, Useful Life: +Mc - E 20 years 3✓ - 7- .+ 3 ' R Remaining Life: 11 years ".y� ._____ i ti -i", Best Case: $45,000.00 Worst Case: $55,000.00 $900/each, Estimate to replace $1,100/eachHigher estimate Cost Source: ARI Cost Database,Client Cost History Comp#: 320 POLE LIGHTS-REPLACE Quantity: (36) Pole Fixtures Location: Throughout common areas Evaluation: Structurally stable and sturdy at this time, minor wear at some base locations, average quality fixtures. Extended life possible, but plan on future replacement. L Useful Life: $ + - 25 years Y Remaining Life: � ` '_" 15 years A-- I. k t 4, - 4," I ,,, ,~.f . r am i• x.- y .- Best Case: $9,000.00 Worst Case: $11,700.00 $250/fixture, Estimate to replace $325/fixture, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 5 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas `' Comp#: 324 WALL LIGHTS-REPLACE Quantity: Approx. 160 fixtures Location: Attahced to exterior walls of units and clubhouse Evaluation: Conditions vary depending on level of exposure, but overall good to fair condition. No expectation to replace all at one time. Replace individual fixtures on as-needed basis as operating expense. Useful Life: Remaining Life: Best Case: Worst Case: Cost Source: `ir. Comp#: 403 MAILBOXES-REPLACE Quantity: (158) Individual boxes Location: Lobby/main entry area of clubhouse Evaluation: Protected location, no signs of advanced wear or abuse. All appear functional with minimal exterior wear and tear. Expect useful life of 25 years . Useful Life: , ' `,'.. 25 years Remaining Life: 14 years s . • Best Case: $6,320.00 Worst Case: $7,584.00 $40/box, Estimate to replace $48/box, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 6 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 404 POOL FURNITURE- REPLACE Quantity: (27)Assorted pieces Location: At pools Evaluation: These are the plastic type and are generally in good condition at this time. Minor fading and discoloration only. 1 " ' I ii , Ill 41 i , , 1 if - Useful Life: ..,,, ' ; 6 years ,.: t/// ! minor * Remaining Life: - l 3 years i _, !1 /'i - ' ili, 1,1,4„-4:1 , 1 -si ,, ... , \ N4 . ..,, Best Case: $850.00 Worst Case: $1,020.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database Comp#: 404 POOL FURNITURE-REPLACE Quantity: (41)Associated pieces Location: Adjacent to pools and spa Evaluation: These are metal frames with vinyl straps. Estimate age is 3 years. All is well maintained and not abused. Typical life for this furniture is 7-8 years. i ',N ''. • �..� ' 1, ,• ' r '/ '-- kt- . - ::............. ,.,,,., :1 , Useful Life: .• 4-lig. 't• •,;. 8 years = i,,` Remaining Life: I5 years .y 1 t• +emsotoor ' . • II Best Case: $4,990.00 Worst Case: $5,980.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 7 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas tor Comp#: 407 GAS BBQ-REPLACE Quantity: (4) BBQ's Location: Adjacent to pools Evaluation: All appear functional with moderate wear, some minor rusting. Exposed locations will tend to shorten life expectancy. Overall fair condition and appearance. a I i M i/ Useful Life: „ 6 years Remaining Life: 114 4 3 years arts --• • .t 11.-°4 Nit.•— Best Case: $2,100.00 Worst Case: $2,400.00 $525/each, Estimate to replace $600/each, Higher estimate Cost Source: ARI Cost Database Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx. 2510 LF Location: Perimeter of complex, interior planter walls Evaluation: All are intact, some stucco deterioration due to water intrusion noted on retaining wall sections. Walls are block construction with stucco coating. This type of wall has indefinite life expectancy. No Reserves required. 4.4611 Useful Life: - - I Remaining Life: _ , ., ! q * * 1. ._. • Best Case: Worst Case: Cost Source: February 29,2000 Page 8 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx.500 GSF Location: Planter walls Evaluation: Advanced deterioration of stucco in some locations due to water intrusion. Stucco is stained and chipping off walls. Repairs recommended at this time to restore appearance. • Useful Life: s Remaining Life: ` "' 0years .. t_. * . • / . Best Case: $1,250.00 Worst Case: $1,500.00 $2.50/GSF, Allowance for repairs $3.00/GSF, Higher allowance Cost Source: ARI Cost Database Comp#: 502 CHAIN LINK FENCE-REPLACE .,, ' Quantity: Approx. 1935 LF Location: Perimeter of property(partial) Evaluation: All sections are intact,very sturdy at this time, no abnormal conditions. Very durable galvanized material with extended life. • Useful Life: .�., 30 years j.' .',,..is ''. R fa ' s .t Remaining Life: 20 years ' =.� `, , -, ; `I `f :ewe _ .r`"41.."''.t ,. ':41: .`.K N • k j griiiiiL A f a i .i.t Best Case: $16,450.00 Worst Case: $19,350.00 $8.50/LF, Estimate to replace $10.00/LF, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 9 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas '1"" Comp#: 503 METAL FENCE/RAIL-REPLACE Quantity: Approx. 5980 LF Location: Pools, individual patio enclosures Evaluation: Minor rusting on some joint areas. All sections are intact and structurally sound. Complete replacement not expected if periodically painted. Minor repairs may be needed,but would typically be handled as a maintenance expense. y,, 7 spa . Useful Life: 4� / - • Remaining Life: ..� , 1 + 1 r -11 Best Case: Worst Case: Cost Source: Now Comp#: 504 CHAIN LINK GATE-REPLACE Quantity: (1)24 ft. gate Location: At rear corner of property. Evaluation: Current plans call for replacing existing gate with wrought iron in the year 2000. This should be a One-time cost with no future replacement expected. • Useful Life: 99 years '`- ~ —, i Remaining Life: . - 0 years - • Best Case: $3,600.00 Worst Case: $4,300.00 $150/LF, Estimate to replace with wrought iron $180/LF, Higher estimate Cost Source: Printed Estimating Guidebook(s) February 29,2000 Page 10 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas Comp#: 601 CARPET-REPLACE(clubhouse) Quantity: Approx. 140 GSF Location: Clubhouse rooms Evaluation: Overall fair condition and appearance. Some wear evident in high-traffic areas.Appears to be well maintained. _ 4.4t Useful Life: 6 years . Remaining Life: 3 years Best Case: $2,100.00 Worst Case: $3,780.00 $15/GSY, Estimate to replace $19/GSY, Higher estimate Cost Source:ARI Cost Database Comp#: 601 CARPET-REPLACE(units) Quantity: (21) Units,840 GSY Location: Various units Evaluation: Recently replaced (1999), near new condition, no wear noted. Expect full useful life of 6 years. Useful Life: 6 years • } Remaining Life: 5 years • y � c4 a s T , Best Case: $7,550.00 Worst Case: $9,240.00 $9/GSY, Estimate to replace $11/GSY, Higher estimate Cost Source:Client Cost History February 29,2000 Page 11 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas Comp#: 601 CARPET-REPLACE(units) Quantity: (43) Units, 1600 GSY Location: Various units Evaluation: Approximately 1/3 of remaining units have carpeting that is in fair to poor condition. Replacement is expected this year II `ri i4 Useful Life: _,., 6 years Remaining Life: 0 years Best Case: $14,400.00 Worst Case: $17,600.00 $9/GSY, Estimate to replace $11/GSY, Higher estimate Cost Source: Client Cost History 'New Comp#: 601 CARPET-REPLACE(units) Quantity: (43) Units, 1600 GSY Location: Various units Evaluation: Overall fair condition. Expect replacement in next 1-2 years. 74. Useful Life: "`"1 6 years ¢ Remaining Life: 1 years f �z s, tr � Best Case: $14,400.00 Worst Case: $17,600.00 $9/GSY, Estimate to replace $11/GSY, Higher estimate Cost Source: Client Cost History February 29,2000 Page 12 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 601 CARPET-REPLACE(units) Quantity: (45) Units, 1700 GSY Location: Various units Evaluation: Not all units expected, but approximately 1/3 of remaining units are assumed to be in fair condition. t Useful Life: 6 years • � C'Y Remaining Life: 3 years k .. N*a rn ^ a ' Best Case: $15,300.00 Worst Case: $18,700.00 $9/GSY, Estimate to replace $11/GSY, Higher estimate Cost Source:Client Cost History Comp#: 602 LINOLEUM FLOOR -REPLACE(units) Quantity: (21) Units,250 GSY Location: Kitchens and baths Evaluation: Flooring replaced in selected units in 1999 and is currently in good condition. Expect full useful life of 10 years. • Useful Life: 10 year1111111111IN , . s Remaining Life: 9 years ILL Best Case: $3,000.00 Worst Case: $3,500.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source:Client Cost History February 29,2000 Page 13 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas '11' Comp#: 602 LINOLEUM FLOOR-REPLACE(units) Quantity: (43) Units,475 GSY Location: Kitchens and baths Evaluation: Older flooring in fair to poor condition. General wear and tear, expect replacement in near future. Useful Life: • 10 years Remaining Life: 1 years Best Case: $5,700.00 Worst Case: $6,650.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source: Client Cost History Comp#: 602 LINOLEUM FLOOR-REPLACE(units) Quantity: (43) Units,475 GSY Location: Kitchens and balths Evaluation: Overall fair condition, average wear and tear. Replacement expected in next 3-4 years. Useful Life: , 10 years Remaining Life: 3 years Best Case: $5,700.00 Worst Case: $6,650.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source: Client Cost History February 29,2000 Page 14 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 602 LINOLEUM FLOOR- REPLACE(units) Quantity: (45)Units,495 GSY Location: Kitchens and baths Evaluation: This flooring is not new,but is in good to fair condition,appearance is good to fair. Replacement not expected for another 5 years. f N ti Useful Life: 4 10 years Remaining Life: 5 years u 0 C IX 4'W Best Case: $5,940.00 Worst Case: $6,930.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source: Client Cost History Comp#: 602 LINOLEUM FLOOR- REPLACE(clubhouse) voirOf Quantity: Approx.65 GSY Location: Kitchen, laundry room, restrooms Evaluation: Average wear, minimal marring or deterioration. Some areas get heavy use. Overall fair condition and appearance. si, 1 Useful Life: 10 years Remaining Life: 6 years I r Best Case: $780.00 Worst Case: $900.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source:ARI Cost Database 1 February 29,2000 Page 15 of 43 1 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas III Comp#: 605 INDOOR/OUTDOOR CARPET-REPLACE Quantity: Approx. 10 GSY Location: Hallway to laundry room Evaluation: Recently replaced, minor staining, heavy traffic area. Replacement cost is to small for Reserve designation. Replace as-needed as operating expense. k Useful Life: Remaining Life: • .s"3 Best Case: Worst Case: Cost Source: Comp#: 702 UTILITY DOORS- REPLACE Quantity: (38)4 x 5 plywood doors Location: At easch building Evaluation: Conditions vary from poor to good. Approximately 25%of all doors exhibit advanced wear, including warping, delamination and cracking. Recommend partial replacement at this time and plan on replacing approx 25% every 5 yrs. 4, . Useful Life: • - • 5 years : Remaining Life: 0 years :" nKK+ $ ty Best Case: $1,430.00 Worst Case: $1,900.00 $150/door x 25%,Allowance for partial replacement $200/door x 25%, Higher allowance Cost Source:ARI Cost Database • February 29,2000 Page 16 of 43 Association Reserves, Inc. Inventory Appendix • Client: 8209A Las Serenas Comp#: 707 TRASH GATES-REPLACE — Quantity: (24)5X6 Metal Gates Location: At each trash enclosure(12 locations). Evaluation: All are intact and functional. Heavy duty doors with very extended or indefinite life expected. Minor repairs may be needed, but should be handled on as-needed basis as operating expense. --- i III ,? 4a Useful Life: . . ` ` ' ; grf g r x ' ',. . ,,,i Remaining Life: s f 1 t s ,r, t df' ii j • Best Case: Worst Case: Cost Source: Comp#: 709 CLOSET DOORS-REPLACE Quantity: (200)Sliding doors Location: Bedrooms Evaluation: No reported problems at this time. Minor repairs carried out as needed. Replacement not expected if properly maintained. ...,..1 ommormangear- ... Useful Life: Tr : I { Remaining Life: Best Case: Worst Case: Cost Source: February 29,2000 Page 17 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas 'tar Comp#: 803 WATER HEATER-REPLACE(laundry) Quantity: (1) 100 GAL, 199000 BTU Location: Clubhouse Evaluation: Newer condition and appearance, no rust or leaks. Heavy use expected. Overall good condition at this time. Useful Life: s ilaI ' EMI ram- _-. 10 years ; 1 -Y. ••. Remaining Life: V w 7 years 1 1 A i i ♦ Best Case: $2,300.00 Worst Case: $2,800.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database Comp#: 803 WATER HEATER-REPLACE(units) `' Quantity: (50)40 Gal. Heaters Location: At each unit Evaluation: Approximately 1/3 of total are assumed to be older and in fair condition. Replacement could occur over the next 2-3 years. Life expectancy of 12 years is typical. Iii_gif - iii - -- r < Useful Life: 12 years F Remaining Life: _ ;_ s y'.2 years , Ai-'A .or 4iii t .r. Best Case: $30,000.00 Worst Case: $35,000.00 $600/heater, Estimate to replace $700/heater, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 18 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 803 WATER HEATER- REPLACE(units) Quantity: (50)40 Gal. Heaters Location: At each unit Evaluation: Approximately 1/3 of all unit heaters are assumed to be in fair condition with replacement expected in the next 4- 5 years. Useful Life: tz. 12 years ` Remaining Life: • 4 years Best Case: $30,000.00 Worst Case: $35,000.00 $600/heaters, Estimate to replace $700/heaters, Higher estimate Cost Source: ARI Cost Database Comp#: 803 WATER HEATER- REPLACE(units) .. °' Quantity: (50)40 Gal. Heaters Location: At each unit Evaluation: These heaters(approx 1/3 of total)are assumed to be in good to fair condition and replacement not expected for another 6-7 years. I Useful Life: 12 yearsgiee 4 Remaining Life: 6 years 2Rry Best Case: $30,000.00 Worst Case: $35,000.00 $600/heaters, Estimate to replace $700/heaters, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 19 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas 'Nur Comp#: 804 WATER HEATER PUMPS-REPLACE Quantity: (152) Small pumps Location: At each water heater Evaluation: Very small pumps with variable life expectancies. Most are original, approximately 5-6 have been replaced in the recent past. Replacement cost is relatively low and would not qualify as a capital replacement project. • }k Useful Life: • Remaining Life: __; 1 (; IIJ I 4 / y 30: Best Case: Worst Case: Cost Source: `' Comp#: 903 FOLDING FURNITURE- REPLACE Quantity: (45)Assorted pieces Location: Clubhouse Evaluation: Moderate wear and tear,overall air condition and appearance. Furniture is stored and used mostly for special events. 4 VT Useful Life: t 15 years Remaining Life: 6 years ,4 \5k :ft i i • 4.1 Best Case: $2,860.00 Worst Case: $3,400.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database �rrir' February 29,2000 Page 20 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 903 FURNITURE- REPLACE(model) Quantity: (14)Assorted pieces Location: Model unit Evaluation: Furniture is for display only and is in good condition. It is not expected to wear out,but replacement is anticipated in the future for aesthetic reasons. r111;,...stat.' Useful Life:18 yearsRemaining Life: 11 years Best Case: $3,350.00 Worst Case: $4,020.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database Comp#: 903 FURNITURE-REPLACE(clubhouse) Quantity: (46)Assorted pieces Location: Throughout clubhouse(excludes offices) Evaluation: Minor to moderate wear noted, some pieces get heavier use than others. Current appearance is fair. • Useful Life: *„N # y" 15 years ". Remaining Life: 7 years 1 � Best Case: $12,800.00 Worst Case: $15,150.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 21 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas ‘4'1"' Comp#: 904 KITCHEN CABINETS- REPLACE(club) Quantity: Approx. 30 LF Location: Clubhouse kitchen Evaluation: Moderate wear, appearance is fair, use is intermittent. Complete replacement not expected, but plan on replacing counter-top and re-facing cabinets. imommita Useful Life: 25 years P Remaining Life: 15 years Best Case: $2,400.00 Worst Case: $3,000.00 $80/LF, Estimate to replace $100/LF, Higher estimate Cost Source: ARI Cost Database Comp#: 904 KITCHEN CABINETS-REPLACE(units) Quantity: Approx. 3170 LF Location: Unit kitchens Evaluation: Overall good to fair condition,typical wear for age of cabinets. No signs of advanced wear or abuse. Complete replacement not expected, but plan on replacing counter-top and re-facing doors and drawers. Useful Life: 25 years _ Remaining Life: 15 years f J t i O Best Case: $253,600.00 Worst Case: $317,000.00 $80/LF, Estimate to replace $100/LF, Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 22 of 43 Association Reserves, Inc. Inventory Appendix • Client: 8209A Las Serenas Comp#: 908 WINDOW TREATMENTS(clubhouse) Quantity: Approx.290 GSF Location: Windows at clubhouse Evaluation: These are mini-blinds. Overall good to fair condition, no unusual conditions observed. • ��Ta Useful Life: 15 years Remaining Life: r.' : 6 years ...r- 11 "' oig a,A �' • =ate,,.� w Best Case: $2,320.00 Worst Case: $2,750.00 $8.00/GSF, Estimate to replace $9.50/GSF, Higher estimate Cost Source:ARI Cost Database Comp#: 908 WINDOW TREATMENTS- REPLACE(units) Quantity: Approx. 6400 GSF +� Location: Unit windows Evaluation: These are the original mini-blinds. Current condition and appearance is good to fair. Current plans call for replacing with vertical blinds. z Useful Life: 15 years ' Remaining Life: » 4 years Best Case: $51,200.00 Worst Case: $60,800.00 $8.00/GSF, Estimate to replace $9.50/GSF, Higher Estimate Cost Source:ARI Cost Database Nod February 29,2000 Page 23 of 43 Association Reserves, Inc. Inventory Appendix g. Client: 8209A Las Serenas Ili Comp#: 909 BATHROOMS-REFURBISH Quantity: (150)5x8 Bathrooms Location: One at each unit Evaluation: All fixtures reported in functional condition, fiberglass showers are intact,counter/cabinet is OK. Extended life expected, but plan on refurbishing in future. -0110 - - t - Y ' ,7x shy: Useful Life: i ,m 18 years '�" Remaining Life: ;• , 8 years - 4 2,=. ,as c Best Case: $270,000.00 Worst Case: $330,000.00 $1800/each, Estimate to refurbish $2200/each, Higher estimate Cost Source:ARI Cost Database 411P Comp#: 910 MAINTENANCE EQUIPMENT-REPLACE Quantity: (12)Assorted pieces Location: Clubhouse Evaluation: These are smaller pieces of equipment in varying conditions. Relatively low replacement cost and unpredictable lives. Replace on as-needed basis as operating expense. EtUseful Life: Remaining Life: •. ; •-% . N �r tt .4AP aV . \ Best Case: Worst Case: Cost Source: e February 29,2000 Page 24 of 43 Association Reserves, Inc. Inventory Appendix • Client: 82O9A Las Serenas Comp#: 911 OFFICE FURN.-REPLACE .0— Quantity: (15)Assorted pieces Location: Offices at clubhouse(two) Evaluation: No signs of advanced wear or abuse,good quality furniture. Used daily, but should last another few years. ' ; '. Useful Life: ,. ' At-ai 18 years .. Remaining Life: k 10 years Best Case: $3,750.00 Worst Case: $4,700.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database Comp#: 912 OFFICE EQUIPMENT-REPLACE Quantity: (6)Assorted pieces Location: Main office at clubhouse Evaluation: Up-to-date equipment, not new,but in good working order. Typical replacement cycle is 6-8 years depending on technology and frequency of use. z _# Useful Life: �„' 8 years "'` ► Remaining Life: 4 6 years , M- 'x, `' A Best Case: $4,400.00 Worst Case: $5,400.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database i 1 February 29,2000 Page 25 of 43 i i Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas IP Comp#: 920 REFRIGERATORS-REPLACE Quantity: (150) Hotpoint, 18 c.f. Location: At each unit Evaluation: Conditions vary from unit to unit. No expectation to replace all at same time. Based on life expectancy of 12 years, it is estimated that an average of 12-13 per year will be replaced. Annual allowance provided. Useful Life: ' 1 years Remaining Life: 0 years r, Best Case: $6,000.00 Worst Case: $8,450.00 $500/each x 12, Estimate to replace $650/each x 13, Higher estimate Cost Source: ARI Cost Database 41111. Comp#: 922 APPLIANCES-REPLACE(clubhouse) Quantity: (4)Assorted appliances Location: Clubhouse kitchen Evaluation: Overall good to fair condition, replacement not expected for a few more years. tM Useful Life: 12 years 7.r. • ' . • .J Remaining Life: 8 years / Best Case: $1,400.00 Worst Case: $1,650.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database Co, February 29,2000 Page 26 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 922 OVENS-REPLACE Quantity: (150)4-Burner stove,oven Location: Kitchens of each unit Evaluation: All reported in functional condition. Conditions do vary, some are better than others. No expectation to replace all at one time. Based on life expectancy of 12 years,expect■ an average of 12-13 per year. # ! - -- - Useful Life: 1 years Remaining Life: �= 0 years " a` s F' Best Case: $7,800.00 Worst Case: $10,080.00 $650/each x 12, Estimate to replace $775/each x 10, Higher estimate Cost Source: ARI Cost Database Comp#: 924 GARBAGE DISPOSALS-REPLACE Quantity: (150) 1/3 HP Units Location: Under kitchen sinks Evaluation: Conditions and ages vary. Replacement cost is relatively small and replacement cycle is unpredictable. Replace on as-needed basis as operating expense. Useful Life: Remaining Life: Best Case: Worst Case: Cost Source: void February 29,2000 Page 27 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas TOP Comp#: 1001 BACKFLOW DEVICES REPLACE Quantity: (21) Backflow devices Location: Throughout property Evaluation: All appear intact, minor corrosion, no leaks noted. Overall fair condition. Typical life varies form 15-20 years. Useful Life: 18 years Remaining Life: 8 years 41, Best Case: $13,650.00 Worst Case: $15,230.00 $650/each, Estimate to replace $725/each, Higher estimate Cost Source:ARI Cost Database 46, Comp#: 1003 IRR.TIMECLOCKS-REPLACE Quantity: (3)Controllers Location: Various areas Evaluation: These are 12-24 station Irritrol controllers.All are in good working order with no reported problem, no exterior signs of excessive wear.. Overall fair condition • Useful Life: 110, i 15 years „. " Remaining Life: • 7 . 5 years • Best Case: $2,700.00 Worst Case: $3,150.00 $900/each, Estimate to replace $1150/each, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 28 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1005 LANDSCAPING-REPLENISH -err Quantity: Extensive Area Location: Throughout common areas Evaluation: Plant material appears to be relatively health and well maintained and irrigated. Regular maintenance carried out. Complete replacement not expected,but plan on partial replacement as-needed as landscape maintenance expense. Useful Life: tp .M. Remaining Life: - t - s :'„ ccr. i T 9f h d Best Case: Worst Case: Cost Source: woad Comp#: 1101 FRONT DOORS-REPAINT Quantity: (152)3 x 7 doors Location: Entry to each unit Evaluation: Conditions vary depending on level of exposure,but overall condition and appearance is poor. Recommend painting at this time to restore appearance. Plan on.5-year cycle for future painting. , .,; : .411 : 7 Useful Life: I 5 years j* Remaining Life: 0 years ., Best Case: $6,840.00 Worst Case: $8,360.00 $45/door, Estimate to paint $55/door, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 29 of 43 4 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas ti.. Comp#: 1105 BLOCK WALL FENCE-REPAINT Quantity: Approx. 12550 GSF Location: Perimeter of property(partrial),planter walls Evaluation: Small areas could use touch-up painting at this time, but overall condition and appearance is fair. Minor staining and discoloration at some base locations due to irrigation water. Useful Life: . 10 years . Remaining Life: 5 years Best Case: $5,020.00 Worst Case: $5,650.00 $0.40/GSF, Estimate to repaint $0.45/GSF, Higher estimate Cost Source:ARI Cost Database CComp#: 1107 METAL FENCE/RAIL-REPAINT Quantity: Approx.5980 LF Location: Pools, patio enclosures Evaluation: Painting is carried out by in-house maintenance personnel as needed. Not considered a capital project. Useful Life: � � t*i f •,- =� �;z. Remaining Life: _ • s ts "$ • ' § ice '"ac. _ate, '.• t. m Best Case: Worst Case: Cost Source: e February 29,2000 Page 30 of 43 • Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1110 CLUBHOUSE INTERIOR-REPAINT IOW Quantity: Minimal area Location: Clubhouse interior surfaces Evaluation: Like the unit interiors,this project has typically been a maintenance expense and not a capital project. w 3x=,Y1 Useful Life: Remaining Life: .• - 4* oft , t !Wm rill 1. � � }� t x Frio ri.4 w Best Case: Worst Case: Cost Source: Comp#: 1110 INTERIOR SURFACES-REPAINT(units) Quantity: Approx.248,900 GSF Location: Unit walls&ceilings Evaluation: Some history or repainting. Typically done during new move-ins. Expect all future painting to be accomplished as a maintenance expense and not as a capital project. Useful Life: Remaining Life: *midi Best Case: Worst Case: I Cost Source: February 29,2000 Page 31 of 43 I Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas .v411°" Comp#: 1113 CARPORTS-REPAINT Quantity: Approx. 10500 GSF Location: Adjacent to driveways Evaluation: This includes posts, beams and fascia elements (excludes roof). Minor to moderate surface wear, some sections are only one-year old. Plan on repainting in approximately 6 years and every 10 years thereafter to protect metal. r + y Useful Life: 10 years • s$e- s"` Remaining Life: ,•• 'F ' -�*- � .NV* RP 6 years Best Case: $8,400.00 Worst Case: $10,500.00 $80/GSF, Estimate to repaint $100/GSF, Higher estimate Cost Source: ARI Cost Database Comp#: 1115 STUCCO-REPAINT Quantity: Approx. 105,000 GSF Location: Exterior building surfaces Evaluation: Original color coat with minor to moderate discoloration and staining, very few hairline cracks observed. Overall fair condition and appearance. Plan on 10-year painting cycle after initial painting. Useful Life: 10 years { Remaining Life: 5 years wn . r • - • Best Case: $73,500.00 Worst Case: $89,250.00 $0.70/GSF, Estimate to repaint $0.85/GSF, Higher estimate Cost Source:ARI Cost Database rr�► February 29,2000 Page 32 of 43 Association Reserves, Inc. Inventory Appendix • Client: 8209A Las Serenas Comp#: 1116 WOOD SURFACES-REPAINT Quantity: (152) Units,Clubhouse Location: Building exterior trim, utility doors, pool shade structures Evaluation: Significant surface wear and fading of paint,early signs of paint failure,very dry&chalky. Recommend painting at this time to restore appearance and protect wood. ~Useful Life: 5 years ' d Remaining Life: 0 years I S. ,.i.„_. ii , , I - ., .,,, ,. Best Case: $38,250.00 Worst Case: $49,700.00 $250/unit, Estimate to repaint $325/unit, Higher estimate Cost Source: ARI Cost Database Comp#: 1120 POOL SHADE TRELLIS- REPLACE -mid Quantity: Approx.425 GSF Location: At pools Evaluation: Original wood structures, minor deterioration of wood, minor instability. Minor repairs may be needed to maintain integrity of structures, but replacement not expected for a few years. Yr t R. Useful Life: " - 20 years r` : .. Remaining Life: t.• i - rimilir--- 11 years .,,-b. �- , 1 I l } �-- _.' Best Case: $5,300.00 Worst Case: $6,600.00 $12.50/GSF, Estimate to replace $15.50/GSF, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 33 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1202 POOLS-RESURFACE Quantity: (3) Pools, 375 LF Location: Adjacent to clubhouse and at front& rear of common area Evaluation: Original tile and plaster. Plaster is generally smooth with minor discoloration and pitting,tile surfaces are intact. Overall fair conditions at this time. Useful Life: 12 years Remaining Life: 3 years Best Case: $11,400.00 Worst Case: $13,050.00 $3800/pool, Estimate to resurface $4350/pool, Higher estimate Cost Source: ARI Cost Database Cif Comp#: 1204 SPA- RESURFACE Quantity: (1)9 ft. diameter spa Location: Adjacent to clubhouse Evaluation: More advanced wear due to high temperatures and chemical usage. General wear and aging of surface, plan on resurfacing in near future. • Useful Life: 10 years Al '1\6\1)k Remaining Life: 1 years • Best Case: $1,500.00 Worst Case: $1,850.00 Estimate to resurface Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 34 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1207 POOL FILTER-REPLACE Quantity: (1) 36 GSF Filter Location: At rear pool Evaluation: Approximately 4 years old, newer condition and appearance, no external signs of unusual wear. -^ 0 e� Useful Life: 15 years 3 Remaining Life: . - 11 years III . 'IIIIIIIIIIIIIIIIIIIIIA Best Case: $850.00 Worst Case: $1,000.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database Comp#: 1207 POOL FILTER-REPLACE Quantity: (2)60 GSF Filter Location: Main and front pool Evaluation: Original filters, adequate water pressure and flows, moderate exterior wear.Overall fair conditions at this time. r Useful Life: -2 15 years Remaining Life: ,:., £ , 5 years A10 ' v. K ram;" r it ..„,_ 7. . ,„ , Best Case: $1,900.00 Worst Case: $2,200.00 $950/filter, Estimate to replace $1100/filter, Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 35 of 43 4 Association Reserves, Inc. Inventory Appendix A. Client: 8209A Las Serenas MP Comp#: 1207 SPA FILTER-REPLACE Quantity: (1)48 GSF Filter Location: Clubhouse Evaluation: Original filter,currently in functional condition, moderate corrosion and wearing of canister. Overall fair condition. 1111 -",-",,,.r.-r"."':',-"'!°/. '414-7) _ --"4 .4%.4%., Useful Life: Imre 15 years '',�'. Remaining Life: 1 5 years ii i • -:--- -,. - ,z-- Best Case: $800.00 Worst Case: $950.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database 1 Comp#: 1208 POOL HEATER-REPLACE 'Illir Quantity: (1) Raypak 333000 BTU Location: Front pool Evaluation: Original heater, some scaling and rusting of burners, heater is fully functional. Older heater, nearing end of effective useful life. Useful Life: .l41' 10 years / •. . Remaining Life: `'---� 0 years 4,_ J s, .r Best Case: $1,950.00 Worst Case: $2,200.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database C February 29,2000 Page 36 of 43 Association Reserves, Inc. Inventory Appendix • Client: 82O9A Las Serenas Comp#: 1208 POOL HEATER-REPLACE '.." Quantity: (1) Raypak 399000 BTU Location: Main pool Evaluation: Replaced in 1998, newer condition, minor internal wear,currently in good working order. Expect full useful life. Ellill= Useful Life:10 years , A Remaining Life: • 8 years Best Case: $1,900.00 Worst Case: $2,200.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database Comp#: 1208 POOL HEATER-REPLACE Quantity: (1) Raypak 399000 BTU '' Location: Rear pool Evaluation: Replaced in 1999, brand new condition,good working order, no internal signs of unusual conditions. Outside location will tend to shorten life expectancy. -4""'"4:71 ,, ,.. , ....,-;„ -. . d Alliiiir1111.1.1"."-- ) ®. s Useful Life: .•`' t I 10 years .e Remaining Life: ate,,'. 9 years - f , t 4 Best Case: $1,950.00 Worst Case: $2,200.00 Estimate to replace Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 37 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas Comp#: 1208 SPA HEATER-REPLACE Quantity: (1) Raypak 333000 BTU Location: At clubhouse Evaluation: Marginal working order,extensive rusting and scaling of burners, nearing end of effective useful life. Replacement recommended at this time. IF Y Useful Life: . — 10 years II Remaining Life: +• : .� 0 years -' _ , . ..., ,,� ,y itea•.a ,..., ... Best Case: $1,900.00 Worst Case: $2,150.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database IL Comp#: 1210 POOL/SPA PUMPS- REPLACE Quantity: (5)2 HP Pumps Location: At pool equipment areas Evaluation: Conditions and ages vary. No expectation to replace all at one time. Replace individual pumps or motors on as- needed basis as operating expense. . 4 Useful Life: ' Remaining Life: ,`� tj ,, / - il ,., it Best Case: Worst Case: Cost Source: C February 29,2000 Page 38 of 43 Association Reserves, Inc. Inventory Appendix' • Client: 8209A Las Serenas Comp#: 1302 CAP SHEET ROOF-REPLACE Quantity: Approx.23500 GSF Location: Flat roofed sections of units Evaluation: Membrane is intact with evidence of wear and deterioration. History of ponding water ion some locations. No reported leaks. Replacement expected in next 2 years. -444144114601116.41 to -0111.1.4111elleilli:, . Useful Life: - 1 s , '-� 12 years . , »`':� Remaining Life: ., ,:vr: .. •.t$ ,j i ,.. 2 years 1 e 4 _r• it . -i'V s Best Case: $47,000.00 Worst Case: $56,400.00 $2.00/GSF, Estimate to replace $2.40/GSF, Higher estimate Cost Source: ARI Cost Database Comp#: 1304 TILE ROOF-REPAIR Quantity: Approx.78,300 GSF Location: Sloped sections of units,clubhouse roof Evaluation: These are concrete tiles that are generally very durable and typically not life limited. No cracked or broken tiles observed. Expect partial replacement of underlayment and flashing in future. ' 4 % 'y '"e1W.....y Useful Life: """,--- —R ,. "^ --,., -.°.. a„, . .60- 20 years ��'" " sus+ '-"-ter. ',. " y. ;.'' ' Remaining Life: `-ems" .�r►j " 9 years .: . , Best Case: $78,300.00 Worst Case: $107,600.00 $2.00/GSF x 50%,Allowance for partial $2.75/GSF x 50%, Higher allowance. replacement of underlayment Cost Source:ARI Cost Database February 29,2000 Page 39 of 43 1 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1315 CARPORT ROOFS REPLACE Quantity: Approx. 17,460 GSF Location: Adjacent to driveways Evaluation: These are the original metal carports. Roofs exhibit no wear at this time. All are intact. Extended life possible, but plan on future replacement. — s Useful Life: 30 years Remaining Life: 19 years Best Case: $61,100.00 Worst Case: $78,600.00 $3.50/GSF, Estimate to replace $4.50/GSF, Higher estimate Cost Source: ARI Cost Database C. Comp#: 1315 CARPORT ROOFS-REPLACE Quantity: Approx.9,900 GSF Location: Adjacent to driveways Evaluation: These carports were erected in 1999 and are in new condition. Expect full useful life of roof. Useful Life: 30 years .- Remaining Life: 29 years 4« Best Case: $34,650.00 Worst Case: $44,550.00 $3.50/GSF, Estimate to replace $4.50/GSF, Higher estimate Cost Source: ARI Cost Database IL February 29,2000 Page 40 of 43 Association Reserves, Inc. Inventory Appendix Client: 8209A Las Serenas Comp#: 1402 SIGNAGE-REPLACE '— Quantity: (2)4 x 6 monument type Location: Adjacent to main driveway Evaluation: These are concrete slab-type monument signs.Typically a very extended or indefinite life expected under normal circumstances. Replacement not expected. . Z ` r Useful Life: 0. s : _ { flJ f«w Remaining Life: ,.., ,,,Y e. „, SENIOR COMNIIvITY f 73-315 .11 _. wPititj ,_; Best Case: Worst Case: Cost Source: Comp#: 1405 BLDG. I.D. LETTERS-REPLACE Quantity: (19) Foam letters Location: One at each buildiing Evaluation: Letters are starting to delaminate, surfaces are peeling. Appearance is declining. Although not all are poor, replacement of all is recommended at one time in order to maintain consistent appearance. 11 6 `r s..1., '• Useful Life: ,r ' ? 12 years : . c--" e-. r ! - , 1,. • is Remaining Life: :,- `''--•, - s � 1 years �� µ I '1* tM1. T• .1 " t- A. x Best Case: $1,420.00 Worst Case: $1,900.00 $75/letter, Estimate to replace $100/letter, Higher estimate Cost Source:ARI Cost Database a February 29,2000 Page 41 of 43 Association Reserves, Inc. Inventory Appendix Client: 82O9A Las Serenas '4111" Comp#: 1610 HORSEHOE PITS-REFURBISH Quantity: (2)Sand pits Location: Rear of clubhouse Evaluation: Fairly low maintenance amenity. Replenish sand and repair boards ass needed. Not considered a capital project. Useful Life: Remaining Life: M� Best Case: Worst Case: Cost Source: Comp#: 1808 TREES-TRIM Quantity: Numerous mature trees Location: Throughout common areas Evaluation: Moderate overgrowth,fair shape. Trimming cycle varies depending on species and size of tree. Plan on major trimming every 4 years. tr` • Useful Life: ' ;► 40 4 years ._ Remaining Life: r • 1 years New Au,l� it('„I �i�,,p �► o imil 9 i iNl1il I i !: • <<w Best Case: $6,000.00 Worst Case: $7,000.00 Estimate to trim Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 42 of 43 Association Reserves, Inc. Inventory Appendix' Client: 8209A Las Serenas Comp#: 1810 UTILITY VEHICLES-REPLACE Quantity: (1) 1983 EZ-GO cart Location: Clubhouse Evaluation: Older model, still in working order, some history of repairs,daily usage assumed. Expect replacement in next 2- 3 years. r if ►. timili Useful Life: 15 years . .. • MU �� , ;Si i . .it '.-'z_ Remaining Life: »ar t ■ �,,°• Y 2 ears .".- . .. Jt C)_�-. -' -ri_ Best Case: $2,500.00 Worst Case: $3,000.00 Estimate to replace Higher estimate Cost Source: ARI Cost Database I February 29,2000 Page 43 of 43 A Corporate Office SSOCIATION Local Offices P.O.Box 8637 ESERVES, INC. Phoenix,AZ Calabasas, CA 91372San Francisco, CA TEL 800/733-1365 Denver,CO FAX 800/733-1581 Honolulu,HI www.ReserveStudy.com Reserve Studies forCommunity Associations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN° .' .;,• S , .'1 'fait. •_ 4 4. •Y,� +- '1-. .c.,,,.. . -iii say :.-. _ iiti r_ ___ ,. — --""...--...4,911 ' -414''' •'' . .-- - - ....,........: 4.oj .7,74, • iiiii 106a, ,rt.„, -,. ., Neighbors Garden Apartments Palm Desert, CA For the Period From: January 1, 2000 Through: December 31, 2000 Report# 8206-0 Date Prepared: February 29, 2000 TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY Report #: 8206-0 Property Name: Neighbors Garden Apartments Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $109,916 Recommended Capital Contribution: $2,420/month Neighbors Garden Apartments is a relatively small 24 unit facility, which has recently undergone a major renovation project. The facility consists of 3 residential buildings, a laundry building, four carports, and a pool. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (carport and wall lights, perimeter block wall, window treatments, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding has not been designated. Note that laundry machines were not included since they are owned and maintained by a laundry machine service company. �... You will note we have separated between the two roofing material types (flat building rooftops and metal carport roof surfaces). Note also that we have assumed that some projects (kitchen appliance replacement) will be accomplished on a partial basis each year due to the observed array of conditions of existing equipment. Other interior unit projects (carpeting, linoleum) are projected to occur in one of two groups based on the age of the component. Our recommended capital contribution set-aside of$2,420/month during Fiscal 2000 presumes a starting Reserve Cash Balance of$109,916 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. Association Reserves, Inc. Executive Summary® 8206-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Neighbors Garden Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 205 CONCRETE DRIVE - REPAIR 20 7 $28,700 $35,297 303 FURNACES - REPLACE 25 12 $38,400 $54,749 303 HEAT PUMPS - REPLACE 18 5 $33,600 $38,952 403 MAILBOXES - REPLACE 20 7 $975 $1,199 404 PATIO FURNITURE - REPLACE 5 3 $2,250 $2,459 503 METAL FENCE/RAIL- REPLACE 18 9 $3,375 $4,404 601 CARPET- REPLACE (98/99) 6 4 $8,813 $9,919 601 CARPET- REPLACE (old) 6 0 $6,000 $7,164 602 LINOLEUM FLOOR - REPLACE (new) 6 4 $1,438 $1,618 602 LINOLEUM FLOOR - REPLACE (old) 6 0 $3,713 $4,433 702 UTILITY DOORS - REPLACE 18 10 $1,100 $1,478 803 WATER HEATER/TANK- REPLACE 2 1 $1,600 $1,648 904 KITCHEN COUNTER/CABINET- REPLA 1 0 $1,900 $1,957 909 BATHROOM - REFURBISH 1 0 $6,250 $6,438 920 REFRIGERATORS - REPLACE 1 0 $1,200 $1,236 922 STOVE/OVEN - REPLACE 1 0 $1,000 $1,030 923 DISHWASHER - REPLACE 1 0 $600 $618 1003 IRR. TIMECLOCKS - REPLACE 15 5 $525 $609 1101 FRONT/UTILITY DOORS - REPAINT 5 4 $1,875 $2,110 1105 BLOCK WALL FENCE - REPAINT 5 4 $3,400 $3,827 1107 METAL FENCE/RAIL- REPAINT 4 3 $1,075 $1,175 1115 STUCCO - REPAINT 10 9 $20,225 $26,389 1202 POOL- RESURFACE 10 3 $4,400 $4,808 1207 POOL FILTER - REPLACE 12 2 $1,000 $1,061 1208 POOL HEATER - REPLACE 10 5 $2,000 $2,319 1301 FLAT ROOFS - REPLACE 12 11 $33,100 $45,818 1315 METAL CARPORT ROOF - REPLACE 20 15 $19,075 $29,718 1808 TREES -TRIM 4 0 $2,300 $2,589 28 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY 1 INTRODUCTION The property described in this Report is a relatively small apartment building that has undergone •.- recent significant renovation by the City of Palm Desert. This development includes residential facilities, a pool, laundry facilities, and covered parking. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. Now Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. Association Reserves, Inc. 1 Capital Replacement Plan • OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan • GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with v.r. the history and operating practices of the building. These included: pool service company, City personnel, and management personnel. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. New Association Reserves, Inc. 3 Capital Replacement Plan • GENERAL REMARKS Neighbors Garden Apartments is a relatively small 24 unit facility which has recently undergone a major renovation project. The facility consists of three residential buildings,a laundry building, and a pool. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (carport and wall lights, perimeter block wall, window treatments, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Note that laundry machines were not included since they are owned and maintained by a laundry machine service company. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. You will note we have separated between the two roofing material types (flat building rooftops and metal carport roof surfaces). Note also that we have assumed that some projects (kitchen appliance replacement, bathroom renovation, kitchen counter/cabinet replacement, etc.) will be accomplished on a partial basis each year due to the observed array of conditions of existing equipment. Other interior unit projects (carpet and linoleum replacement) are projected to occur in one of two groups based on the age of the component. Our recommended capital contribution set-aside of $2,420/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $109,916 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. The expenditures for future years can be summarized as follows: 0 - 5 years: $103,110 5 - 10 years: $208,039 10 - 15 years: $236,385 15 - 20 years: $220,128 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. I Association Reserves, Inc. 4 Capital Replacement Plan I ^ O V J (n t\\ \\\�\ �\`�\�\�\\� Coc) W T \\\\\\\' \\\\\\ (I) CC (TIC g\\ * \\ \ \ to D Q m\ \ N O '' r\ T \ ''- " I— L.u"' \ \ \\ k\\\\\\ \\\\\\\s Q a) \\\\\\\�\ N 0 �\\\\\\\\\\\\\\\\\ o,-c\J W cc 0_ 0 t,\\\\\\\\\\\\\�\\\\\\\)- o w �\\\\\\\\\ N X § t >- \\�\\\\\\1, W + k, : �wvvvvvvvvvvvvvvvwv,..„ vv� 1�\\\\\\\\_\\\\\\\\\\\\\\\\ o t\\\ \\\\\\\\\ 0 CC 0 6 \�\\\ I. Q) � Avv\vv\:vc \ W cm t\\\\4\\\\\ N r n (� t\\\\' i W saj, 0 0 C I C 4:-:--::C-''..- N 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 d 0 d 0 0 0 0 0 0 0 co CO '1- N O CO Co ct' N -EA Eft Eft EA EA Ea EA EA -E (spuesnoq ) S1diOl1V(1 NNV 8206-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Neighbors Garden Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 205 CONCRETE DRIVE-REPAIR Approx. 16400 GSF 20 7 $24,600 $32,800 303 FURNACES-REPLACE (24)2 ton units 25 12 $33,600 $43,200 303 HEAT PUMPS-REPLACE (24) Ruud units 18 5 $28,800 $38,400 403 MAILBOXES-REPLACE (24) Individual boxes 20 7 $850 $1,100 404 PATIO FURNITURE-REPLACE (18)Assorted pieces 5 3 $1,800 $2,700 503 METAL FENCE/RAIL-REPLACE Approx.350 LF 18 9 $3,000 $3,750 601 CARPET-REPLACE(98/99) Approx.880 GSY 6 4 $7,925 $9,700 601 CARPET-REPLACE(old) Approx.600 GSY 6 0 $5,400 $6,600 602 LINOLEUM FLOOR-REPLACE(new) Approx. 110 GSY 6 4 $1,325 $1,550 602 LINOLEUM FLOOR-REPLACE(old) Approx.285 GSY 6 0 $3,425 $4,000 702 UTILITY DOORS-REPLACE (13)3 x 7 doors 18 10 $900 $1,300 803 WATER HEATER/TANK-REPLACE (25)40 gallon heaters 2 1 $1,400 $1,800 904 KITCHEN COUNTER/CABINET-REPLAC (24) Kitchens 1 0 $1,500 $2,300 909 BATHROOM-REFURBISH (48) Restrooms 1 0 $3,500 $9,000 920 REFRIGERATORS-REPLACE (24)Various types 1 0 $1,000 $1,400 922 STOVE/OVEN-REPLACE (24) Units 1 0 $800 $1,200 923 DISHWASHER-REPLACE (24) Dishwashers 1 0 $500 $700 1003 IRR.TIMECLOCKS-REPLACE (1) Rainbird, 12 station 15 5 $450 $600 1101 FRONT/UTILITY DOORS-REPAINT (37)3 x 7 doors 5 4 $1,500 $2,250 1105 BLOCK WALL FENCE-REPAINT Approx.7150 GSF 5 4 $2,850 $3,950 1107 METAL FENCE/RAIL-REPAINT Approx.350 LF 4 3 $900 $1,250 1115 STUCCO-REPAINT Approx.24500 GSF 10 9 $18,400 $22,050 1202 POOL-RESURFACE (1) 16 x 40 pool 10 3 $3,800 $5,000 1207 POOL FILTER-REPLACE (1)Titan,60 GSF 12 2 $800 $1,200 1208 POOL HEATER-REPLACE (1) Laars,400000 BTU 10 5 $1,800 $2,200 1301 FLAT ROOFS-REPLACE Approx. 16550 GSF 12 11 $29,800 $36,400 1315 METAL CARPORT ROOF-REPLACE Approx.6350 GSF 20 15 $15,900 $22,250 1808 TREES-TRIM Numerous trees 4 0 $1,800 $2,800 28 COMPONENTS REQUIRING FUNDING a ASSOCIATION RESERVES, INC. PAGE 6 8206-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $109,916 $119,429 $140,305 $162,979 $177,659 $183,366 $165,834 Annual Contribution $29,040 $29,911 $30,809 $31,733 $32,685 $33,665 $34,675 Interest Earnings $3,436 $3,891 $4,543 $5,103 $5,408 $5,231 $5,196 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $142,392 $153,231 $175,656 $199,814 $215,752 $222,262 $205,706 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $38,952 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $2,459 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(98/99) $0 $0 $0 $0 $9,919 $0 $0 601 CARPET-REPLACE(old) $6,000 $0 $0 $0 $0 $0 $7,164 602 LINOLEUM FLOOR-REPLACE(new) $0 $0 $0 $0 $1,618 $0 $0 602 LINOLEUM FLOOR-REPLACE(old) $3,713 $0 $0 $0 $0 $0 $4,433 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE $0 $1,648 $0 $1,748 $0 $1,855 $0 904 KITCHEN COUNTER/CABINET-REP $1,900 $1,957 $2,016 $2,076 $2,138 $2,203 $2,269 909 BATHROOM-REFURBISH $6,250 $6,438 $6,631 $6,830 $7,034 $7,245 $7,463 920 REFRIGERATORS-REPLACE $1,200 $1,236 $1,273 $1,311 $1,351 $1,391 $1,433 922 STOVE/OVEN-REPLACE $1,000 $1,030 $1,061 $1,093 $1,126 $1,159 $1,194 923 DISHWASHER-REPLACE $600 $618 $637 $656 $675 $696 $716 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $609 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $0 $2,110 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $3,827 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $1,175 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $4,808 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $1,061 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $2,319 $0 1301 FLAT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $2,300 $0 $0 $0 $2,589 $0 $0 Total Expenditures $22,963 $12,927 $12,678 $22,155 $32,387 $56,428 $24,672 ASSOCIATION RESERVES,INC. PAGE 7 8206-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $181,034 $168,735 $191,281 $180,693 $195,385 $176,475 Annual Contribution $35,716 $36,787 $37,891 $39,027 $40,198 $41,404 Interest Earnings $5,240 $5,393 $5,572 $5,634 $5,571 $4,667 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $221,989 $210,915 $234,743 $225,354 $241,154 $222,546 # Expenditures 205 CONCRETE DRIVE-REPAIR $35,297 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $54,749 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $1,199 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $2,850 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $4,404 $0 $0 $0 601 CARPET-REPLACE(98/99) $0 $0 $0 $11,843 $0 $0 601 CARPET-REPLACE (old) $0 $0 $0 $0 $0 $8,555 602 LINOLEUM FLOOR-REPLACE(new) $0 $0 $0 $1,932 $0 $0 602 LINOLEUM FLOOR-REPLACE(old) $0 $0 $0 $0 $0 $5,293 702 UTILITY DOORS-REPLACE $0 $0 $0 $1,478 $0 $0 803 WATER HEATER/TANK-REPLACE $1,968 $0 $2,088 $0 $2,215 $0 904 KITCHEN COUNTER/CABINET-REP $2,337 $2,407 $2,479 $2,553 $2,630 $2,709 909 BATHROOM-REFURBISH $7,687 $7,917 $8,155 $8,399 $8,651 $8,911 920 REFRIGERATORS-REPLACE $1,476 $1,520 $1,566 $1,613 $1,661 $1,711 922 STOVE/OVEN-REPLACE $1,230 $1,267 $1,305 $1,344 $1,384 $1,426 923 DISHWASHER-REPLACE $738 $760 $783 $806 $831 $855 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $2,446 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $4,436 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $1,322 $0 $0 $0 $1,488 $0 1115 STUCCO-REPAINT $0 $0 $26,389 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1301 FLAT ROOFS-REPLACE $0 $0 $0 $0 $45,818 $0 1 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $2,914 $0 $0 $0 $3,279 Total Expenditures $53,254 $19,635 $54,050 $29,969 $64,678 $87,488 { 4 ,, ASSOCIATION RESERVES, INC. PAGE 8 8206-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $135,058 $153,836 $176,658 $173,079 $187,369 $220,738 Annual Contribution $42,646 $43,926 $45,243 $46,601 $47,999 $49,439 Interest Earnings $4,328 $4,951 $5,239 $5,400 $6,113 $6,873 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $182,032 $202,712 $227,140 $225,079 $241,481 $277,049 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $3,304 $0 $0 $0 $0 $3,830 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(98/99) $0 $0 $0 $14,141 $0 $0 601 CARPET-REPLACE(old) $0 $0 $0 $0 $0 $10,215 602 LINOLEUM FLOOR-REPLACE(new) $0 $0 $0 $2,307 $0 $0 602 LINOLEUM FLOOR-REPLACE(old) $0 $0 $0 $0 $0 $6,320 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE $2,350 $0 $2,493 $0 $2,645 $0 904 KITCHEN COUNTER/CABINET-REP $2,790 $2,874 $2,960 $3,049 $3,140 $3,235 909 BATHROOM-REFURBISH $9,178 $9,454 $9,737 $10,029 $10,330 $10,640 920 REFRIGERATORS-REPLACE $1,762 $1,815 $1,870 :; :j''; $1,926 $1,983 $2,043 922 STOVE/OVEN-REPLACE $1,469 $1,513 $1,558 $1,605 $1,653 $1,702 923 DISHWASHER-REPLACE $881 $908 $935 $963 $992 $1,021 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 ;i< $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $2,836 $0 $0 $0 $0 1105 BLOCK WALL FENCE-REPAINT $0 $5,143 $0 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $1,675 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1202 POOL-RESURFACE $6,462 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $1,513 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $3,116 $0 $0 $0 1301 FLAT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $29,718 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $3,691 $0 $0 Total Expenditures $28,196 $26,054 $54,061 $37,711 $20,743 $39,007 • ASSOCIATION RESERVES, INC. PAGE 9 8206-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $238,042 $227,329 $262,233 $301,352 $325,769 $219,599 Annual Contribution $50,922 $52,449 $54,023 $55,644 $57,313 $59,032 Interest Earnings $6,971 $7,334 $8,443 $9,394 $8,170 $6,704 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $295,935 $287,112 $324,699 $366,390 $391,251 $285,335 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $66,313 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $0 $4,441 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(98/99) $0 $0 $0 $16,886 $0 $0 601 CARPET-REPLACE(old) $0 $0 $0 $0 $0 $12,197 602 LINOLEUM FLOOR-REPLACE(new) $0 $0 $0 $2,754 $0 $0 602 LINOLEUM FLOOR-REPLACE(old) $0 $0 $0 $0 $0 $7,547 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATER/TANK-REPLACE $2,806 $0 $2,976 $0 $3,158 $0 904 KITCHEN COUNTER/CABINET-REP $3,332 $3,432 $3,535 $3,641 $3,750 $3,862 909 BATHROOM-REFURBISH $10,959 $11,288 $11,627 $11,976 $12,335 $12,705 920 REFRIGERATORS-REPLACE $2,104 $2,167 $2,232 $2,299 $2,368 $2,439 922 STOVE/OVEN-REPLACE $1,754 $1,806 $1,860 $1,916 $1,974 $2,033 923 DISHWASHER-REPLACE $1,052 $1,084 $1,116 $1,150 $1,184 $1,220 1003 IRR.TIMECLOCKS-REPLACE $0 $948 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $3,288 $0 $0 $0 $0 $3,811 1105 BLOCK WALL FENCE-REPAINT $5,962 $0 $0 $0 $0 $6,911 1107 METAL FENCE/RAIL-REPAINT $1,885 $0 $0 $0 $2,122 $0 1115 STUCCO-REPAINT $35,465 $0 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $8,684 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1301 FLAT ROOFS-REPLACE $0 $0 $0 $0 $65,326 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $4,154 $0 $0 $0 $4,675 Total Expenditures $68,606 $24,879 $23,347 $40,621 $171,653 $57,401 ASSOCIATION RESERVES, INC. PAGE 10 8206-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $227,934 $265,667 $311,164 $280,860 $294,490 $281,891 Annual Contribution $60,803 $62,627 $64,506 $66,441 $68,435 $70,488 Interest Earnings $7,394 $8,641 $8,869 $8,619 $8,634 $8,883 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $296,131 $336,935 $384,539 $355,921 $371,559 $361,262 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $63,751 $0 $0 $0 303 FURNACES-REPLACE $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $2,166 $0 $0 $0 404 PATIO FURNITURE-REPLACE $0 $0 $0 $5,148 $0 $0 503 METAL FENCE/RAIL-REPLACE $0 $0 $7,497 $0 $0 $0 601 CARPET-REPLACE(98/99) $0 $0 $0 $20,162 $0 $0 601 CARPET-REPLACE (old) $0 $0 $0 $0 $0 $14,564 602 LINOLEUM FLOOR-REPLACE(new) $0 $0 $0 $3,289 $0 $0 602 LINOLEUM FLOOR-REPLACE(old) $0 $0 $0 $0 $0 $9,011 702 UTILITY DOORS-REPLACE $0 $0 $0 $2,517 $0 $0 803 WATER HEATER/TANK-REPLACE $3,350 $0 $3,554 $0 $3,771 $0 904 KITCHEN COUNTER/CABINET-REP $3,978 $4,098 $4,220 $4,347 $4,477 $4,612 909 BATHROOM-REFURBISH $13,086 $13,479 $13,883 $14,300 $14,729 $15,170 920 REFRIGERATORS-REPLACE $2,513 $2,588 $2,666 $2,746 $2,828 $2,913 922 STOVE/OVEN-REPLACE $2,094 $2,157 $2,221 $2,288 $2,357 $2,427 923 DISHWASHER-REPLACE $1,256 $1,294 $1,333 $1,373 $1,414 $1,456 1003 IRR.TIMECLOCKS-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $0 $4,419 $0 1105 BLOCK WALL FENCE-REPAINT $0 $0 $0 $0 $8,012 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $2,388 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $47,662 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $2,157 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $4,188 $0 $0 $0 $0 $0 1301 FLAT ROOFS-REPLACE $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $5,262 $0 $0 Total Expenditures $30,464 $25,771 $103,679 $61,431 $89,667 $50,153 ASSOCIATION RESERVES,INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 103 CONCRETE DECK/WALK-REPAIR Quantity: Extensive GSF Location: Pool deck, sidewalks Evaluation: Some minor hairline cracks noted. No lifted sections or tripping hazards were noted during inspection. No well defined life expectancy. Plan on repairs and replacements as needed with general maintenance funds. • Useful Life: Remaining Life: 14c, = ' _ r r ` '« • I r. • . _ '_ Best Case: Worst Case: Cost Source: Comp#: 205 CONCRETE DRIVE-REPAIR Quantity: Approx. 16400 GSF Location: Driveway and parking areas Evaluation: A few minor cracks were noted throughout lot. Cracks were not effecting the structural integrity of the driveway. Entire area should not require replacement at same time. However, plan on repairs to 25%of area every 20 years. Useful Life: k � ' 20 years - Remaining Life: a trx 7 yearsx �c°Y -4 , i f 421* • e- Best Case: $24,600.00 Worst Case: $32,800.00 Estimate for replacement to 25%of area at this Higher estimate for more repairs interval at$6.00 per GSF Cost Source:ARI Cost Database February 29,2000 Page 1 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 303 FURNACES-REPLACE Quantity: (24)2 ton units Location: Interior closet inside each unit Evaluation: No reports of any being replaced. Of the units inspected,all were similar size and model (#24VDXO-HP). Replacement cycle depends on level of use and maintenance. t Useful Life: `r, ��ti. 25 years . .� i Remaining Life: 12 years i ` '. ° Best Case: $33,600.00 Worst Case: $43,200.00 $1400/unit; Estimate to replace with similar size $1800/unit; Higher estimate units 11, Cost Source: ARI Cost Database Comp#: 303 HEAT PUMPS-REPLACE Quantity: (24) Ruud units Location: Exterior of units Evaluation: All are older and original. Does not appear that any units have been replaced. Labels were faded, so unable to get model number and size,but appear to be 2-3 ton units. Expect to replace these more frequently than furnaces due to exterior location. ,. MI Useful Life: � 18 years Remaining Life: 5 years t yt t _ i Best Case: $28,800.00 Worst Case: $38,400.00 $1200/unit; Estimate to replace $1600/unit; Higher estimate for more efficient unit 61110 Cost Source: ARI Cost Database February 29,2000 Page 2 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 324 CARPORT LIGHTS-REPLACE "" Quantity: (15) Florescent lights Location: Ceilings of carports Evaluation: Lights were turned off during inspection.Assume all were functioning properly. Individual replacement cost is too small for separate funding. Replace as needed with general maintenance. Useful Life: Remaining Life: — — ll .1 Best Case: Worst Case: Cost Source: Comp#: 324 EXTERIOR WALL LIGHTS-REPLACE Quantity: Approx.45 lights Location: Attached to walls of buildings, and adjacent to unit doors Evaluation: All appear to be functioning normally without any major problems. Replace as needed as maintenance. Useful Life: Remaining Life: r,A 3r714.`1. q. yC -N 4. 3l q, 11 a ` * 7!m a- ° t Ftom*"-6 - `,^5".: it, iiiigt 1 ...-,...2.r.„-.- .4 --.. mit? Best Case: Worst Case: 1 Cost Source: February 29,2000 Page 3 of 20 4 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Now Comp#: 325 INTERIOR LIGHTS-REPLACE Quantity: Numerous fixtures Location: Interiors of units Evaluation: No reports of problems or malfunctioning.These are replaced as needed as a maintenance issue. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: Comp#: 403 MAILBOXES-REPLACE vNiellw Quantity: (24) Individual boxes Location: Adjacent to driveway Evaluation: Overall fair condition with some typical signs of wear and age.Typical life expectancy ranges from 15-20 years, depending on level of exposure to elements and overall care. ■ Useful Life: 20 years 111111 Remaining Life: 7 years Best Case: $850.00 Worst Case: $1,100.00 $35/box; Estimate to replace $45/box; Higher estimate for better quality Cost Source: ARI Cost Database February 29,2000 Page 4 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 404 PATIO FURNITURE-REPLACE Quantity: (18)Assorted pieces Location: Adjacent to pool Evaluation: All are in good to fair condition. Replacement cycle depends on level of care and use. In these elements, expect to replace every 4-6 years. (8)Chairs, (6)chaise lounges, (2)tables, (2) umbrellas. • Useful Life: 5 years Remaining Life: t•! , 1 fll!ails . •• T� 3 years %- .' �+, 3 t % _ . . Best Case: $1,800.00 Worst Case: $2,700.00 Estimate to replace with similar quantity and quality Higher estimate for more quantity Cost Source: ARI Cost Database Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx. 1400 LF Location: Perimeter of complex,trash enclosures Evaluation: Wall was structurally stable and intact at time of inspection.These types of walls have an extended life expectancy and should not require complete replacement. Repair if needed as a maintenance issue. Useful Life: •. 17:4 ,�' '` `. - Remaining Life: , q- ft- - , Best Case: Worst Case: Cost Source: February 29,2000 Page 5 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments \41111" Comp#: 503 METAL FENCE/RAIL-REPLACE Quantity: Approx. 350 LF Location: Pool perimeter, section of fence along San Pablo Evaluation: No signs of significant rust or deterioration. About half of area is installed on top of a block wall and should not require replacement due to limited exposure to irrigation. However, plan on eventual replacement to 6'high fence. Useful Life: 18 years Remaining Life: Photo Not Available 9 years Best Case: $3,000.00 Worst Case: $3,750.00 Estimate to replace 6'high fence (approx. 150 LF) Higher estimate for additional repairs to 2'high fence Cost Source:ARI Cost Database Comp#: 507 METAL GATE-REPLACE Quantity: (2) 10 LF gates Location: Trash Enclosures Evaluation: Currently in good condition with minimal signs of abuse and deterioration. No well defined life expectancy. Replace individually as needed with maintenance funds. " -/g •� - 1 i. _ �,1�,` g £4 .P.. • Useful Life: ~,�' Pi�r.•�+ ;, w �,t. , 1 Remaining Life: ,4` r1i rt Best Case: Worst Case: Cost Sourceale February 29,2000 Page 6 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 601 CARPET-REPLACE(98/99) .011111. Quantity: Approx. 880 GSY Location: Units#1,3,4,5,6,7,9,10, 13,14,18,21,22,24 Evaluation: These units have had the carpeting replaced in 1998 and 1999. Conditions ranges from very new and good shape to poor. Expect to replace every 6 years on the average,depending on level of use and care. Useful Life: 6 years Remaining Life: 4 years Best Case: $7,925.00 Worst Case: $9,700.00 $9/GSY; Estimate to replace with commercial grade $11/GSY; Higher estimate for better quality carpet Cost Source:ARI Cost Database Comp#: 601 CARPET-REPLACE(old) Quantity: Approx.600 GSY Location: Unit#2,8,11,12,15,16,17,19,20, and 23 Evaluation: These units have not reportedly been replaced recently.Access to a few of these units revealed conditions that ranges from poor to very poor.Assume all are in need of replacement in near future. Useful Life: 6 years Remaining Life: `" 0 years i Best Case: $5,400.00 Worst Case: $6,600.00 $9/GSY; Estimate to replace with commercial grade $11/GSY; Higher estimate for better grade Cost Source:ARI Cost Database February 29,2000 Page 7 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments '4111" Comp#: 602 LINOLEUM FLOOR- REPLACE(new) Quantity: Approx. 110 GSY Location: Laundry room, unit#1,9,13,14,20,24 Evaluation: These units had new flooring installed in kitchens, restrooms,entries in roughly same time period as carpet. „4"...- :. Useful Life: E 6 years Remaining Life: t' K± 4 years ` it ��`.„ ;--1aP par Best Case: $1,325.00 Worst Case: $1,550.00 $12/GSY; Estimate to replace $14/GSY; Higher estimate for better quality Cost Source:ARI Cost Database Comp#: 602 LINOLEUM FLOOR- REPLACE(old) 8440Per Quantity: Approx. 285 GSY Location: Unit#2-8,10-12,15-19,21-23 Evaluation: No reports of replacing the flooring in these units. Expect to replace in near future based on assumed and observed condition. Useful Life: ' 6 years g = '_ Remaining Life: , 0 years j # , .,v 4lz '. Best Case: $3,425.00 Worst Case: $4,000.00 $12/GSY; Estimate to replace $14/GSY; Higher estimate for better quality Cost Source: ARI Cost Database February 29,2000 Page 8 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 702 UTILITY DOORS-REPLACE —o' Quantity: (13)3 x 7 doors Location: Pool building, ends of each building Evaluation: Overall condition is good with no warping or deterioration noted.Typical life expectancy ranges from 15-20 years. Useful Life: . ,A..; 4*V,4v4,-rvc; 18 years , ,r ! 1 ,. t 3 ,. ,,,. 1o;• Remaining Life: 1,1A'',A_ :, 10 years _ : .. r Y } 4 e a xi t^ S k "r ,, fk Best Case: $900.00 Worst Case: $1,300.00 $70/door; Estimate to replace $100/door; Higher estimate for better quality Cost Source: ARI Cost Database Comp#: 803 WATER HEATER/TANK-REPLACE Quantity: (25)40 gallon heaters Location: All units, laundry room Evaluation: A few were observed to have been replaced recently.The condition of the others ranged from good to poor. Plan on replacing 4 heaters every other year. t t Useful Life: ` . ' w 2 years Remaining Life: r. 1 years •. Best Case: $1,400.00 Worst Case: $1,800.00 Estimate to replace 4 heaters at this interval and Higher estimate install Cost Source:ARI Cost Database February 29,2000 Page 9 of 20 Association Reserves, Inc. Inventory Appendix Client: 82O6A Neighbors Garden Apartments Comp#: 904 KITCHEN COUNTER/CABINET- REPLACE Quantity: (24) Kitchens Location: Interior of each unit Evaluation: Conditions vary depending on amount of use and abuse. Expect to replace the cabinets in 1 kitchen per year,on average. Useful Life: 1 years Remaining Life: 0 years • Best Case: $1,500.00 Worst Case: $2,300.00 $1500/kitchen; estimate to replace one set of $2300/kitchen; Higher estimate cabinets per year Cost Source: ARI Cost Database Comp#: 908 WINDOW TREATMENTS-REPLACE Quantity: Vertical and mini blinds Location: Interior of each unit Evaluation: Conditions vary. Replace individually as needed with general maintenance, not as a capital project. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 10 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 909 BATHROOM-REFURBISH Quantity: (48) Restrooms Location: Each unit has 2 bathrooms Evaluation: Conditions vary from unit to unit,depending on level of use and care. Expect to refurbish 1-2 units per year, targeting an effective 18 yr Useful Life. Useful Life: 1 years Remaining Life: Photo Not Available 0 years Best Case: $3,500.00 Worst Case: $9,000.00 $1750/bathroom; Low estimate for minor refurbish $2250/bathroom; Higher cost estimate,for two project to 1 unit(2 bathrooms) units(4 bathrooms) Cost Source: ARI Cost Database Comp#: 910 LAUNDRY ROOM-REMODEL Quantity: (1) 11 x 8 room Location: Adjacent to pool Evaluation: Overall in good condition with the flooring recently being replaced,and walls being painted. Expect minor maintenance refurbishment's. Do not expect a complete remodel. Useful Life: 64444 Remaining Life: „r: Irt • 4 Best Case: Worst Case: Cost Source: I February 29,2000 Page 11 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 920 REFRIGERATORS-REPLACE Quantity: (24)Various types Location: Kitchens of all units Evaluation: These are replaced as needed. Manufactures range from Magic Chef, Kenmore,and GE. Plan on replacing 2 units per year, on average. • Useful Life: 1 years • • �,_, 11/) Remaining Life: 0 years MIN • 11 1 i ;'C Best Case: $1,000.00 Worst Case: $1,400.00 $500/unit; Estimate to replace 2 per year $700/unit; Higher estimate for a better unit(2 per year) Cost Source: ARI Cost Database Nos. Comp#: 922 STOVE/OVEN-REPLACE Quantity: (24) Units Location: Kitchens of all units Evaluation: These are replaced as needed. (2)units were observed to have been replaced recently. Plan on replacing 2 units per year,on average,for an effective 12 yr Useful Life. - Useful Life: = 1 years omilit el e Remaining Life: 0 years Best Case: $800.00 Worst Case: $1,200.00 $400/unit; Estimate to replace 2 units per year $600/unit; Higher estimate for better quality(2 per year) Cost Source: ARI Cost Database February 29,2000 Page 12 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 923 DISHWASHER-REPLACE Quantity: (24) Dishwashers Location: Kitchens of all units Evaluation: A couple units have had their dishwashers replaced recently. Majority of units are Magic Chef with basic features.These are replaced as needed. Plan on replacing 2 units per year,on average,for an effective 12 yr Useful Life. • Useful Life: 1 years Remaining Life: 0 years �> Best Case: $500.00 Worst Case: $700.00 Estimate to replace 2 units per year @ $250 each. Higher cost estimate to replace two units ($350/dishwasher) Cost Source: ARI Cost Database -401 Comp#: 928 WASHERS/DRYERS-REPLACE Quantity: (3)of each Location: Laundry room Evaluation: These units are leased through Excalibur. No funding for replacement is required. Useful Life: 1 Remaining Life: ;: f • j Best Case: Worst Case: Cost Source: February 29,2000 Page 13 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments "No' Comp#: 1003 IRR.TtMECLOCKS-REPLACE Quantity: (1) Rainbird, 12 station Location: Utility closet Evaluation: Older unit still functional. Replacement cycle typically range from 10- 15 years,depending on exposure to elements and quality of clock. -- it. Useful Life: I ' i 15 years ., Remaining Life: �- 5 years k \ ' -` ! Best Case: $450.00 Worst Case: $600.00 $450/unit; Estimate to replace $600/unit; Higher estimate Cost Source: ARI Cost Database '%s. Comp#: 1005 LANDSCAPE-REPLENISH Quantity: Moderate ground coverage Location: Common areas throughout complex Evaluation: Overall in good condition. Expect to perform ongoing repairs and replenishment to maintain appearance. Do not expect a complete capital project. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 14 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 1101 FRONT/UTILITY DOORS- REPAINT .....- Quantity: (37) 3 x 7 doors Location: Laundry Room,sides of each building,entry to each unit Evaluation: Recently painted and in good condition.Touch up or repaint as needed by maintenance staff. Expect to completely repaint every 5 years. Useful Life: 5 years 3 W= Remaining Life: "� 't , "� 4 years • ::: •,,, . `.1` 1 ' a Best Case: $1,500.00 Worst Case: $2,250.00 $40/door; Estimate to repaint $60/door; Higher estimate for more prep work Cost Source: ARI Cost Database Comp#: 1105 BLOCK WALL FENCE-REPAINT Quantity: Approx. 7150 GSF Location: Perimeter of complex,trash enclosures Evaluation: All surfaces are in good condition and recently painted in 1999. Due to heavy exposure to irrigation and other elements,expect to repaint these surfaces every 4-5 years. fir: �' ,, i;°� s ' Useful Life: tF •' ' "` 1. ` 5 years ..11 Remaining Life: 4 years h , ttAlf.- k , 4 r Best Case: $2,850.00 Worst Case: $3,950.00 $.40/GSF; Estimate to repaint $.55/GSF; Higher estimate for more prep work Cost Source: ARI Cost Database February 29,2000 Page 15 of 20 • Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments — Comp#: 1107 METAL FENCE/RAIL-REPAINT Quantity: Approx. 350 LF Location: Pool perimeter, section of fence along San Pablo Evaluation: All fencing was recently painted in 1999. Expect to paint these surfaces every 3-5 years. I Useful Life: 4 years ;, ��►�� '. Remaining Life: — ' , II 11LP1fl1 • Best Case: $900.00 Worst Case: $1,250.00 $2.50/LF; Estimate to repaint Higher estimate for more prep work Cost Source:ARI Cost Database Comp#: 1110 INTERIOR SURFACES-REPAINT `1110v Quantity: Extensive GSF Location: Interior walls of units, laundry room Evaluation: Surfaces are repainted as needed or as a tenant moves out.This work is performed as a maintenance issue. No separate funding required. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 16 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 1115 STUCCO-REPAINT Quantity: Approx.24500 GSF Location: Pool/laundry building, exterior walls of each building Evaluation: All surfaces were repainted in 1999,and still in good condition.This type of surface will need to be painted every 10- 12 years to maintain appropriate appearance. • Useful Life: 10 years • Remaining Life: 441 9 years a 44 - Best Case: $18,400.00 Worst Case: $22,050.00 $.75/GSF; Estimate to repaint $.90/GSF; Higher estimate Cost Source:ARI Cost Database Comp#: 1202 POOL-RESURFACE Quantity: (1) 16 x 40 pool Location: Pool/spa area Evaluation: General roughness and thinning of plaster was noted. Some minor cracks and rust spots were also noted.This pool is subject to heavy use and abuse during summer months. Expect to resurface every 10 years due to level of use. 1 #A Useful Life: 10 years #- ;s - - Remaining Life: ✓�+ f 3 years . Best Case: $3,800.00 Worst Case: $5,000.00 Estimate to resurface and retile Higher estimate for more labor Cost Source:ARI Cost Database February 29,2000 Page 17 of 20 Association Reserves, Inc. Inventory Appendix Client: 82O6A Neighbors Garden Apartments `"' Comp#: 1207 POOL FILTER-REPLACE Quantity: (1)Titan,60 GSF Location: Pool equipment area, semi-enclosed Evaluation: Older unit nearing end of useful life.According to service person,this has about 2 more years left before replacement will be needed. - - Useful Life: riiiii).. 4 12 years n , ' 1 ;x t. Remaining Life: ax 1}�.� 2 years IAN _. w r« ' , G ' '',1 •)1: t , Best Case: $800.00 Worst Case: $1,200.00 Estimate to replace Higher estimate Cost Source: Research with Local Vendor/Contractor IComp#: 1208 POOL HEATER-REPLACE Quantity: (1) Laars, 400000 BTU Location: Pool equipment area, semi-enclosed Evaluation: Reported that this heater is not used. It is still in good shape since rarely used. Extend the remaining life due to not being used. Useful Life: 10 years .--- .-r Remaining Life: ''`"_. Tyk N.1:• 5 years pp r sws�.a �'A w t \ 4 � , /' m - _ Best Case: $1,800.00 Worst Case: $2,200.00 Estimate to replace Higher estimate Cost Source: Research with Local Vendor/Contractor t February 29,2000 Page 18 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments Comp#: 1210 POOL PUMP-REPLACE Quantity: (1)Solid switch Location: Pool equipment area,semi-protected Evaluation: No reports of problems or malfunctioning. Useful life varies too much and replacement cost is too small for separate funding. Replace when needed with general maintenance funds. • mg- Useful Life: < • Remaining Life: 4104:13".' "ffr"' ' r 4'A. Best Case: Worst Case: Cost Source: Comp#: 1301 FLAT ROOFS-REPLACE Quantity: Approx. 16550 GSF Location: Rooftop of buildings Evaluation: All roofs were recently replaced in 1999.This type of roof will have a life expectancy of 10- 15 years under normal conditions. • Useful Life: `- 12 years j RemainingLife: L - T 11 years r ` • • Best Case: $29,800.00 Worst Case: $36,400.00 $1.80/GSF; Estimate to replace $2.20/GSF; Higher estimate Cost Source: Client Cost History 3 February 29,2000 Page 19 of 20 Association Reserves, Inc. Inventory Appendix Client: 8206A Neighbors Garden Apartments 'ft" Comp#: 1315 METAL CARPORT ROOF-REPLACE Quantity: Approx.6350 GSF Location: Parking areas Evaluation: Overall fair conditions with no significant signs of deterioration noted during inspection. Expect to replace every 20 years. Useful Life: :.- - ,✓ 20 years Remaining Life: 15 years / •�1 v i ifi]Vl J/ rs Ai 4- • Best Case: $15,900.00 Worst Case: $22,250.00 $2.50/GSF; Estimate to replace $3.50/GSF; Higher estimate Cost Source: ARI Cost Database Voir Comp#: 1808 TREES-TRIM Quantity: Numerous trees Location: Throughout common areas Evaluation: Some encroachment on buildings were noted. These should be maintained frequently to avoid damage to buildings. Expect to trim every 4 years. Useful Life: 4 years Remaining Life: Photo Not Available 0 years Best Case: $1,800.00 Worst Case: $2,800.00 Estimate for minor trimming Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 20 of 20 Corporate Office SSOCIATION Local Offices P.O. Box 8637 Phoenix,AZ Calabasas, CA 91372 ESERVES, IN v 1C. San Francisco, CA 11RL *'"' TEL 800/733-1365 - Denver,CO FAX 800/733-1581 Honolulu,HI www.ReserveStudy.com Reserre Studies forCommunity Associations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN° --.-...c.,.:.-4.-- , :- 7.41.-t-t4 i .4p: ,- 4.0 4. .: • .3:7- t ..., ... !~ ' '• �', �, � � ' �M _,,.t"� J Wit. ` • • • •a . fi •a ' .11Z,%". • ; } - r• ' ! I'� ' •yT j ' • te •• ra i.,,s H , •4 , 31' S1! • ..'-`f.4,` , ,. A W• -- - . -- _ ,..- .---,my,:, .t s' th, r fir. • •i , :. , lg..-.... ..,4 jN/ �.`7 1 :-, ,, I , r----. • ..aii.f ie' 704 . 4 I 41/4--- ----7....---------7-',:-..-..------"''":---.7- 411: -4..< -- .-'.1 :::-..::. 1; *I'''. tic One Quail Place Palm Desert, CA For the Period From: January 1 , 2000 Through: December 31, 2000 Report# 8208-0 Date Prepared: February 29, 2000 `or . TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix • CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY Report #: 8208-0 Property Name: One Quail Place Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $1,597,904 Recommended Capital Contribution: $34,500/month One Quail Place is a relatively large 384 unit facility, which has recently undergone a major renovation project. The facility consists of 43 residential buildings, four pools, three tennis courts and a play court, along with clubhouse and management facilities. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (wall lights, perimeter chain link, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding has not been designated. Note that laundry machines were not included since they are owned and maintained by a laundry machine service company. fir.. You will note we have separated between the three roofmg material types (flat building rooftops, tile roof areas, carport roof surfaces). Note also that we have divided the flat building roof areas into two portions to separate between the areas re-roofed in 1993 and 1999. Our recommended capital contribution set-aside of$34,500/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $1,597,904 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. Association Reserves, Inc. Executive Summary© 8208-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY One Quail Place USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 104 POOL DECKS - RESURFACE 16 0 $41,200 $66,114 105 POOL DECKS - SEAL/REPAIR 4 4 $14,725 $16,573 106 REC BLDG DECKS - RESURFACE 16 0 $1,975 $3,169 107 REC BLDG DECKS - SEAL/REPAIR 4 4 $725 $816 109 WOOD BRIDGES/DECKS - REPLACE 12 11 $17,850 $24,709 201 ASPHALT- RESURFACE 20 19 $175,875 $308,398 201 ENTRY ASPHALT - RESURFACE 15 14 $12,725 $19,248 202 ASPHALT- SEAL/REPAIR 4 3 $24,250 $26,499 206 STAMPED CONCRETE - REPLACE 20 6 $11,075 $13,224 303 A/C CONDENSERS - REPLACE (Ph1) 18 3 $176,400 $192,757 303 A/C CONDENSERS - REPLACE (Ph2) 18 4 $176,400 $198,540 303 A/C CONDENSERS - REPLACE (Ph3) 18 5 $176,400 $204,496 303 A/C CONDENSERS - REPLACE (Ph4) 18 6 $176,400 $210,631 320 POLE LIGHTS - REPLACE 5 0 $10,200 $11,825 323 COURT LIGHTS - REPLACE 25 9 $16,800 $21,920 403 MAILBOXES - REPLACE 20 0 $17,825 $32,194 404 POOL FURNITURE - REPLACE 5 3 $11,150 $12,184 405 PLAY EQUIPMENT- REPLACE 12 8 $31,500 $39,903 407 GAS BBQ - REPLACE 8 7 $9,500 $11,684 502 COURT CHAIN LINK- REPLACE 25 9 $17,425 $22,736 503 IRON FENCE/RAIL- REPLACE 20 5 $32,500 $37,676 505 WOOD FENCE - REPLACE 20 4 $7,875 $8,863 506 TRASH GATES - REPLACE 20 5 $5,500 $6,376 601 REC BLDG CARPET- REPLACE (#1) 8 7 $5,775 $7,103 601 REC BLDG CARPET- REPLACE (#4) 8 0 $5,775 $7,316 601 UNIT CARPET- 1/6 REPLACE 1 0 $46,200 $47,586 602 LINOLEUM FLOOR - 1/10 REPLACE 1 0 $6,775 $6,978 602 VINYL FLOOR - REPLACE 8 5 $1,488 $1,724 703 ENTRY SYSTEM - REPLACE 12 6 $6,000 $7,164 705 GATE OPERATOR - REPLACE 8 4 $12,600 $14,181 801 BOILER - REPLACE (A) 20 2 $96,000 $101,846 801 BOILER - REPLACE (B) 20 5 $75,000 $86,946 802 BOILER PUMP - REPLACE (A) 5 0 $7,700 $8,926 802 BOILER PUMP - REPLACE (B) 5 2 $4,200 $4,456 802 BOILER PUMP - REPLACE (C) 5 4 $3,500 $3,939 803 WATER STORAGE TANK - REPLACE 8 7 $14,300 $17,587 902 EXERCISE EQUIPMENT- REPLACE (A) 10 9 $6,300 $8,220 902 EXERCISE EQUIPMENT - REPLACE (B) 20 5 $22,000 $25,504 903 REC BLDG FURNITURE - REPLACE (#1) 10 9 $15,750 $20,550 904 KITCHEN COUNTER/CABINET- REPLA 1 0 $40,725 $41,947 905 SAUNA HEATERS - REPLACE 18 3 $3,600 $3,934 909 BATHROOM - REFURBISH 1 0 $35,500 $36,565 910 REC BLDG KITCHEN - REMODEL 20 5 $5,150 $5,970 910 RESTROOMS - REMODEL (#1,4) 18 3 $20,400 $22,292 910 RESTROOMS - REMODEL (#2,3) 12 0 $11,000 $15,683 912 OFFICE EQUIPMENT- REPLACE 5 3 $4,750 $5,190 920 REFRIGERATOR - REPLACE 1 0 $18,400 $18,952 922 OVEN - REPLACE 1 0 $15,200 $15,656 ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY 8208-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY 923 DISHWASHER - REPLACE 1 0 $9,600 $9,888 923 MICROWAVE - REPLACE 1 0 $9,600 $9,888 1003 IRRIGATION TIMERS - REPLACE 20 3 $6,650 $7,267 1106 COURT CHAIN LINK - REPAINT 5 4 $4,800 $5,402 1107 IRON FENCE/RAIL- REPAINT 4 0 $24,650 $27,744 1114 SIGNAGE - REPAINT 5 4 $650 $732 1115 STUCCO - REPAINT 10 9 $145,300 $189,584 1116 WOOD SURFACES - REPAINT 5 4 $52,800 $59,427 1117 WOOD SURFACES - REPAIR 5 4 $26,900 $30,276 1202 POOL- RESURFACE 10 2 $22,400 $23,764 1203 SPA - RESURFACE 7 0 $7,200 $8,855 1207 POOL FILTER - REPLACE (#1,3,4) 12 6 $4,000 $4,776 1207 POOL FILTER - REPLACE (#2) 12 1 $1,000 $1,030 1207 SPA FILTER - REPLACE (#1,3) 10 0 $1,500 $2,016 1207 SPA FILTER - REPLACE (#2,4) 10 4 $1,500 $1,688 1208 POOL HEATER - REPLACE (#1) 10 6 $2,000 $2,388 1208 POOL HEATER - REPLACE (#2,3,4) 10 0 $6,000 $8,063 1208 SPA HEATER - REPLACE (#1,3,4) 10 0 $4,800 $6,451 1208 SPA HEATER - REPLACE (#2) 10 8 $1,600 $2,027 1210 POOL/SPA PUMP - REPLACE (#1,4) 10 8 $1,550 $1,963 1301 CARPORT ROOF - REPLACE 15 2 $166,950 $177,117 1302 FLAT ROOF - REPLACE (A) 12 5 $216,500 $250,983 1302 FLAT ROOF - REPLACE (B) 12 11 $533,300 $738,212 1304 TILE ROOF - REPAIR 20 5 $56,450 $65,441 1402 SIGNAGE - REPLACE 20 19 $18,900 $33,141 1604 TENNIS COURTS - RESURFACE 5 4 $7,675 $8,638 1606 BASKETBALL EQP - REPLACE 8 5 $1,400 $1,623 1703 STREAM BEDS - REPAIR 3 1 $5,000 $5,150 1704 STREAM PUMPS - REPLACE 2 0 $15,000 $15,914 1810 GOLF CARTS - REPLACE 8 0 $6,900 $8,741 78 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY • INTRODUCTION • The property described in this is a large apartment building that has undergone recent significant renovation by the City of Palm Desert. This development includes residential facilities, recreation facilities (tennis, exercise, pools, etc.), and covered parking. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as 4111. appropriate to minimize negative financial and physical implications to the building. Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan 4 GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with "%o' the history and operating practices of the building. These included: pool service company, boiler service company, stream service company, City personnel, and management personnel. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. 'Naar Now Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS One Quail Place is a relatively large 384 unit facility which has recently undergone a major renovation project. The facility consists of 43 residential buildings, four pools, three tennis courts and a play court, along with clubhouse and management facilities. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (wall lights, perimeter chain link fening, all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. You will note we have separated between the three roofing material types (flat building rooftops, tile roof areas, and carport roof surfaces). Note also that we have divided the flat building roof areas into two portions to separate between the areas re-roofed in 1993 and 1999. Our recommended capital contribution set-aside of $34,500/month during Fiscal 2000 presumes a starting Reserve Cash Balance of$1,597,904 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. The expenditures for future years can be summarized as follows: 0 - 5 years: $2,126,717 5 - 10 years: $2,708,699 10 - 15 years: $2,549,859 15 - 20 years: $3,352,537 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. I I Association Reserves, Inc. 4 Capital Replacement Plan. 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Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 104 POOL DECKS-RESURFACE Approx 11,770 Sq Ft 16 0 $35,300 $47,100 105 POOL DECKS-SEAL/REPAIR Approx 11,770 Sq Ft 4 4 $11,800 $17,650 106 REC BLDG DECKS-RESURFACE Approx 560 Sq Ft 16 0 $1,700 $2,250 107 REC BLDG DECKS-SEAL/REPAIR Approx 560 Sq Ft 4 4 $600 $850 109 WOOD BRIDGES/DECKS-REPLACE (60) Bridges, (63) Decks 12 11 $17,250 $18,450 201 ASPHALT-RESURFACE Approx 175,830 Sq Ft 20 19 $149,550 $202,200 201 ENTRY ASPHALT-RESURFACE Approx 10,600 Sq Ft 15 14 $10,600 $14,850 202 ASPHALT-SEAL/REPAIR Approx 186,430 Sq Ft 4 3 $18,650 $29,850 206 STAMPED CONCRETE-REPLACE Approx 885 Sq Ft 20 6 $8,850 $13,300 303 A/C CONDENSERS-REPLACE(Ph1) 25%of(392)Condensers 18 3 $147,000 $205,800 303 NC CONDENSERS-REPLACE(Ph2) 25%of(392) Condensers 18 4 $147,000 $205,800 303 NC CONDENSERS-REPLACE(Ph3) 25%of(392) Condensers 18 5 $147,000 $205,800 303 A/C CONDENSERS-REPLACE(Ph4) 25%of(392) Condensers 18 6 $147,000 $205,800 320 POLE LIGHTS-REPLACE 20%of(170) Poles 5 0 $8,500 $11,900 323 COURT LIGHTS-REPLACE (8) Double, (20)Single 25 9 $14,000 $19,600 403 MAILBOXES-REPLACE (396) Mailboxes 20 0 $15,850 $19,800 404 POOL FURNITURE-REPLACE (94)Assorted Pieces 5 3 $9,500 $12,800 405 PLAY EQUIPMENT-REPLACE (5)Assorted Pieces 12 8 $28,000 $35,000 407 GAS BBC-REPLACE (19) Ducane BBQs 8 7 $7,600 $11,400 502 COURT CHAIN LINK-REPLACE Approx 870 Linear Ft 25 9 $15,700 $19,150 503 IRON FENCE/RAIL-REPLACE Approx 1,140 Linear Ft 20 5 $28,500 $36,500 505 WOOD FENCE-REPLACE Approx 450 Linear Ft 20 4 $6,750 $9,000 506 TRASH GATES-REPLACE (11) Iron Gates,6x5 20 5 $4,400 $6,600 601 REC BLDG CARPET-REPLACE(#1) Approx 274 Sq Yds 8 7 $4,950 $6,600 601 REC BLDG CARPET-REPLACE(#4) Approx 274 Sq Yds 8 0 $4,950 $6,600 601 UNIT CARPET-1/6 REPLACE Approx 27,715 Sq Yds 1 0 $41,600 $50,800 602 LINOLEUM FLOOR-1/10 REPLACE Approx 5,200 Sq Yds 1 0 $6,250 $7,300 4 602 VINYL FLOOR-REPLACE Approx 114 Sq Yds 8 5 $1,375 $1,600 703 ENTRY SYSTEM-REPLACE (2)Telephone Systems 12 6 $5,000 $7,000 705 GATE OPERATOR-REPLACE (6) Elite Operators 8 4 $10,800 $14,400 801 BOILER-REPLACE(A) (6)Teledyne,1.1 M BTU 20 2 $90,000 $102,000 801 BOILER-REPLACE(B) (5)Teledyne,925000 BTU 20 5 $70,000 $80,000 802 BOILER PUMP-REPLACE(A) (11)Armstrong Pumps 5 0 $6,600 $8,800 802 BOILER PUMP-REPLACE(B) (6)Armstrong Pumps 5 2 $3,600 $4,800 802 BOILER PUMP-REPLACE(C) (5)Armstrong Pumps 5 4 $3,000 $4,000 803 WATER STORAGE TANK-REPLACE (11) Raypak,80-Gallon 8 7 $12,100 $16,500 902 EXERCISE EQUIPMENT-REPLACE (A) (3)Assorted Pieces 10 9 $5,600 $7,000 902 EXERCISE EQUIPMENT-REPLACE (B) (8) Nautilus Stations 20 5 $20,000 $24,000 903 REC BLDG FURNITURE-REPLACE (#1) (37)Assorted Pieces 10 9 $13,000 $18,500 904 KITCHEN COUNTER/CABINET-REPLAC (384) Kitchens 1 0 $35,350 $46,100 1 905 SAUNA HEATERS-REPLACE (4) Ultra Heaters 18 3 $3,200 $4,000 909 BATHROOM-REFURBISH (532) Bathrooms 1 0 $29,600 $41,400 910 REC BLDG KITCHEN-REMODEL (1) Kitchen 20 5 $4,300 $6,000 910 RESTROOMS-REMODEL(#1,4) (4) Restrooms 18 3 $17,600 $23,200 1 910 RESTROOMS-REMODEL(#2,3) (4) Restrooms 12 0 $9,200 $12,800 912 OFFICE EQUIPMENT-FIEPLACE (7)Assorted Pieces 5 3 $4,100 $5,400 920 REFRIGERATOR-REPLACE (384) Refrigerators 1 0 $12,800 $24,000 922 OVEN-REPLACE 923 DISHWASHER-REPLACE (384) Ovens 1 0 $11,200 $19,200 (384) Dishwashers 1 0 $7,200 $12,000 923 MICROWAVE-REPLACE (384) Microwaves 1 0 $7,200 $12,000 1003 IRRIGATION TIMERS-REPLACE (7) Irrrtrol Timers 20 3 $5,950 $7,350 1106 COURT CHAIN LINK-REPAINT Approx 870 Linear Ft 5 4 $4,350 $5,250 1107 IRON FENCE/RAIL-REPAINT Approx 5,800 Linear Ft 4 0 $20,300 $29,000 1114 SIGNAGE-REPAINT (2) Monument, (16) Other 5 4 $600 $700 1115 STUCCO-REPAINT Approx 261,700 Sq Ft 10 9 $117,800 $172,800 1116 WOOD SURFACES-REPAINT Approx 195,515 Sq Ft 5 4 $48,000 $57,600 1117 WOOD SURFACES-REPAIR Approx 195,515 Sq Ft 5 4 $24,450 $29,350 1202 POOL-RESURFACE (4) Large Pools 10 2 $19,900 $24,900 1203 SPA-RESURFACE (4) Spas,approx 10'dia 7 0 $6,400 $8,000 1207 POOL FILTER-REPLACE(#1,3,4) (4) Purex,60 Sq Ft 12 6 $3,600 $4,400 ASSOCIATION RESERVES, INC. PAGE 6 4 8208-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 One Quail Place Useful Rem. Life Life Current Rep!.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 1207 POOL FILTER-REPLACE(#2) (1) Purex,72 Sq Ft 12 1 $900 $1,100 1207 SPA FILTER-REPLACE(#1,3) (2) Purex,36 Sq Ft 10 0 $1,300 $1,700 1207 SPA FILTER-REPLACE(#2,4) (2) Purex,36&48 Sq Ft 10 4 $1,300 $1,700 1208 POOL HEATER-REPLACE(#1) (1) Raypak,333600 BTU 10 6 $1,800 $2,200 1208 POOL HEATER-REPLACE(#2,3,4) (3)Teledyne,325000 BTU 10 0 $5,400 $6,600 1208 SPA HEATER-REPLACE(#1,3,4) (3)Teledyne,250000 BTU 10 0 $4,200 $5,400 1208 SPA HEATER-REPLACE(#2) (1) Raypak,264100 BTU 10 8 $1,400 $1,800 1210 POOL/SPA PUMP-REPLACE (#1,4) (2) Purex WhisperFlo 10 8 $1,400 $1,700 1301 CARPORT ROOF-REPLACE Approx 74,200 Sq Ft 15 2 $148,400 $185,500 1302 FLAT ROOF-REPLACE(A) Approx 55,870 Sq Ft 12 5 $195,550 $237,450 1302 FLAT ROOF-REPLACE(B) Approx 137,540 Sq Ft 12 11 $481,400 $585,200 1304 TILE ROOF-REPAIR Approx 50,165 Sq Ft 20 5 $50,200 $62,700 1402 SIGNAGE-REPLACE (2) Monument, (16) Other 20 19 $16,800 $21,000 1604 TENNIS COURTS-RESURFACE (3) Courts,(1) Playground 5 4 $6,500 $8,850 1606 BASKETBALL EQP-REPLACE (2) Backboards 8 5 $1,200 $1,600 1703 STREAM BEDS-REPAIR Numerous Sq Ft 3 1 $4,500 $5,500 1704 STREAM PUMPS-REPLACE 50%of(13) Pumps 2 0 $13,200 $16,800 1810 GOLF CARTS-REPLACE (3) Carts 8 0 $6,000 $7,800 78 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. PAGE 6A 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $1,597,904 $1,717.850 $2,006,420 $1,989,308 $2,032,953 $1,954,472 $1,568,711 Annual Contribution $414,000 $426.420 $439,213 $452,389 $465,961 $479,939 $494,338 Interest Earnings $49,671 $55,790 $59,857 $60,254 $59,732 $52,778 $48,032 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $2,061,575 $2,200,060 $2,505,489 $2,501,951 $2,558,646 $2,487,190 $2,111,081 # Expenditures 104 POOL DECKS-RESURFACE $41,200 $0 $0 $0 $0 $0 $0 105 POOL DECKS-SEAL/REPAIR $0 $0 $0 $0 $16,573 $0 $0 106 REC BLDG DECKS-RESURFACE $1,975 $0 $0 $0 $0 $0 $0 107 REC BLDG DECKS-SEAUREPAIR $0 $0 $0 $0 $816 $0 $0 109 WOOD BRIDGES/DECKS-REPLACE $0 $0 $0 $0 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 $0 201 ENTRY ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $26,499 $0 $0 $0 206 STAMPED CONCRETE-REPLACE $0 $0 $0 $0 $0 $0 $13,224 303 A/C CONDENSERS-REPLACE(Ph1) $0 $0 $0 $192,757 $0 $0 $0 303 A/C CONDENSERS-REPLACE(Ph2) $0 $0 $0 $0 $198,540 $0 $0 303 A/C CONDENSERS-REPLACE(Ph3) $0 $0 $0 $0 $0 $204,496 $0 303 A/C CONDENSERS-REPLACE(Ph4) $0 $0 $0 $0 $0 $0 $210,631 320 POLE LIGHTS-REPLACE $10,200 $0 $0 $0 $0 $11,825 $0 323 COURT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $17,825 $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $12,184 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $0 $0 $0 $0 $0 502 COURT CHAIN LINK-REPLACE $0 $0 $0 $0 $0 $0 $0 503 IRON FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $37,676 $0 505 WOOD FENCE-REPLACE $0 $0 $0 $0 $8,863 $0 $0 506 TRASH GATES-REPLACE $0 $0 $0 $0 $0 $6,376 $0 601 REC BLDG CARPET-REPLACE(#1) $0 $0 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#4) $5,775 $0 $0 $0 $0 $0 $0 601 UNIT CARPET-1/6 REPLACE $46,200 $47,586 $49,014 $50,484 $51,999 $53,558 $55,165 602 LINOLEUM FLOOR-1/10 REPLACE $6,775 $6,978 $7,188 $7,403 $7,625 $7,854 $8,090 602 VINYL FLOOR-REPLACE $0 $0 $0 $0 $0 $1,724 $0 703 ENTRY SYSTEM-REPLACE $0 $0 $0 $0 $0 $0 $7,164 705 GATE OPERATOR-REPLACE $0 $0 $0 $0 $14,181 $0 $0 801 BOILER-REPLACE(A) $0 $0 $101,846 $0 $0 $0 $0 801 BOILER-REPLACE (B) $0 $0 $0 $0 $0 $86,946 $0 802 BOILER PUMP-REPLACE(A) $7,700 $0 $0 $0 $0 $8,926 $0 802 BOILER PUMP-REPLACE(B) $0 $0 $4,456 $0 $0 $0 $0 802 BOILER PUMP-REPLACE(C) $0 $0 $0 $0 $3,939 $0 $0 803 WATER STORAGE TANK-REPLACE $0 $0 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $0 $25,504 $0 903 REC BLDG FURNITURE-REPLACE( $0 $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $40,725 $41,947 $43,205 $44,501 $45,836 $47,211 $48,628 905 SAUNA HEATERS-REPLACE $0 $0 $0 $3,934 $0 $0 $0 909 BATHROOM-REFURBISH $35,500 $36,565 $37,662 $38,792 $39,956 $41,154 $42,389 910 REC BLDG KITCHEN-REMODEL $0 $0 $0 $0 $0 $5,970 $0 910 RESTROOMS-REMODEL(#1,4) $0 $0 $0 $22,292 $0 $0 $0 4 910 RESTROOMS-REMODEL(#2,3) $11,000 $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $5,190 $0 $0 $0 920 REFRIGERATOR-REPLACE $18,400 $18,952 $19,521 $20,106 $20,709 $21,331 $21,971 922 OVEN-REPLACE $15,200 $15,656 $16,126 $16,609 $17,108 $17,621 $18,150 923 DISHWASHER-REPLACE $9,600 $9,888 $10,185 $10,490 $10,805 $11,129 $11,463 923 MICROWAVE-REPLACE $9,600 $9,888 $10,185 $10,490 $10,805 $11,129 $11,463 1003 IRRIGATION TIMERS-REPLACE $0 $0 $0 $7,267 $0 $0 $0 1106 COURT CHAIN LINK-REPAINT $0 $0 $0 $0 $5,402 $0 $0 1107 IRON FENCE/RAIL-REPAINT $24,650 $0 $0 $0 $27,744 $0 $0 1114 SIGNAGE-REPAINT $0 $0 $0 $0 $732 $0 $0 ASSOCIATION RESERVES, INC. PAGE 7 4 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 0 Year 2000 2001 2002 2003 2004 2005 2006 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $59,427 $0 $0 1117 WOOD SURFACES-REPAIR $0 $0 $0 $0 $30,276 $0 $0 1202 POOL-RESURFACE $0 $0 $23,764 $0 $0 $0 $0 1203 SPA-RESURFACE $7,200 $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $0 $4,776 1207 POOL FILTER-REPLACE(#2) $0 $1,030 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#1,3) $1,500 $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#2,4) $0 $0 $0 $0 $1,688 $0 $0 1208 POOL HEATER-REPLACE(#1) $0 $0 $0 $0 $0 $0 $2,388 1208 POOL HEATER-REPLACE(#2,3,4) $6,000 $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#1,3,4) $4,800 $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#2) $0 $0 $0 $0 $0 $0 $0 1210 POOL/SPA PUMP-REPLACE (#1,4) $0 $0 $0 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $177,117 $0 $0 $0 $0 1302 FLAT ROOF-REPLACE(A) $0 $0 $0 $0 $0 $250,983 $0 1302 FLAT ROOF-REPLACE(B) $0 $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $65,441 $0 1402 SIGNAGE-REPLACE $0 $0 $0 $0 $0 $0 $0 1604 TENNIS COURTS-RESURFACE $0 $0 $0 $0 $8,638 $0 $0 1606 BASKETBALL EQP-REPLACE $0 $0 $0 $0 $0 $1,623 $0 1703 STREAM BEDS-REPAIR $0 $5,150 $0 $0 $5,628 $0 $0 1704 STREAM PUMPS-REPLACE $15,000 $0 $15,914 $0 $16,883 $0 $17,911 1810 GOLF CARTS-REPLACE $6,900 $0 $0 $0 $0 $0 $0 Total Expenditures $343,725 $193,640 $516,181 $468,998 $604,173 $918,478 $473,412 IP Cr ASSOCIATION RESERVES,INC. PAGE 7A 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $1,637,669 $1,889,469 $2,093,129 $2,069,502 $2,380,487 $1,970,317 Annual Contribution $509,168 $524,443 $540,176 $556,381 $573,073 $590,265 Interest Earnings $52,837 $59,660 $62,357 $66,662 $65,176 $62,676 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $2,199,674 $2,473,572 $2,695,662 $2,692,545 $3,018,736 $2,623,258 # Expenditures 104 POOL DECKS-RESURFACE $0 $0 $0 $0 $0 $0 105 POOL DECKS-SEALJREPAIR $0 $18,653 $0 $0 $0 $20,994 106 REC BLDG DECKS-RESURFACE $0 $0 $0 $0 $0 $0 107 REC BLDG DECKS-SEAL/REPAIR $0 $918 $0 $0 $0 $1,034 109 WOOD BRIDGES/DECKS-REPLACE $0 $0 $0 $0 $24,709 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 201 ENTRY ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $29,824 $0 $0 $0 $33,568 $0 206 STAMPED CONCRETE-REPLACE $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph1) $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph2) $0 $0 $0 $0 $0 $0 303 A/C CONDENSERS-REPLACE(Ph3) $0 $0 $0 $0 $0 $0 303 A/C CONDENSERS-REPLACE(Ph4) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $13,708 $0 $0 323 COURT LIGHTS-REPLACE $0 $0 $21,920 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $14,124 $0 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $39,903 $0 $0 $0 $0 407 GAS BBQ-REPLACE $11,684 $0 $0 $0 $0 $0 502 COURT CHAIN LINK-REPLACE $0 $0 $22,736 $0 $0 $0 503 IRON FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 505 WOOD FENCE-REPLACE $0 $0 $0 $0 $0 $0 506 TRASH GATES-REPLACE $0 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#1) $7,103 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#4) $0 $7,316 $0 $0 $0 $0 601 UNIT CARPET-1/6 REPLACE $56,820 $58,525 $60,281 $62,089 $63,952 $65,870 602 LINOLEUM FLOOR-1/10 REPLACE $8,332 $8,582 $8,840 $9,105 $9,378 $9,660 602 VINYL FLOOR-REPLACE $0 $0 $0 $0 $0 $0 703 ENTRY SYSTEM-REPLACE $0 $0 $0 $0 $0 $0 705 GATE OPERATOR-REPLACE $0 $0 $0 $0 $0 $17,965 801 BOILER-REPLACE(A) $0 $0 $0 $0 $0 $0 801 BOILER-REPLACE (B) $0 $0 $0 $0 $0 $0 802 BOILER PUMP-REPLACE(A) $0 $0 $0 $10,348 $0 $0 802 BOILER PUMP-REPLACE(B) $5,165 $0 $0 $0 $0 $5,988 802 BOILER PUMP-REPLACE(C) $0 $0 $4,567 $0 $0 $0 803 WATER STORAGE TANK-REPLACE $17,587 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE( $0 $0 $8,220 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $0 $0 903 REC BLDG FURNITURE-REPLACE( $0 $0 $20,550 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $50,087 $51,589 $53,137 $54,731 $56,373 $58,064 905 SAUNA HEATERS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $43,661 $44,970 $46,319 $47,709 $49,140 $50,615 910 REC BLDG KITCHEN-REMODEL $0 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#1,4) $0 $0 $0 $0 $0 $0 $15,6 910 RESTROOMS-REMODEL(#2,3) $0 $0 $0 $0 $0 83 912 OFFICE EQUIPMENT-REPLACE $0 $6,017 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $22,630 $23,309 $24,008 $24,728 $25,470 $26,234 922 OVEN-REPLACE $18,694 $19,255 $19,833 $20,428 $21,040 $21,672 923 DISHWASHER-REPLACE $11,807 $12,161 $12,526 $12,902 $13,289 $13,687 923 MICROWAVE-REPLACE $11,807 $12,161 $12,526 $12,902 $13,289 $13,687 1003 IRRIGATION TIMERS-REPLACE $0 $0 $0 $0 $0 $0 1106 COURT CHAIN LINK-REPAINT $0 $0 $6,263 $0 $0 $0 1107 IRON FENCE/RAIL-REPAINT $0 $31,226 $0 $0 $0 $35,145 1114 SIGNAGE-REPAINT $0 $0 $848 $0 $0 $0 ASSOCIATION RESERVES, INC. PAGE 8 8208 0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 1115 STUCCO-REPAINT $0 $0 $189,584 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $68,892 $0 $0 $0 1117 WOOD SURFACES-REPAIR $0 $0 $35,098 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $31,937 1203 SPA-RESURFACE $8,855 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE(#2) $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#1,3) $0 $0 $0 $2,016 $0 $0 1207 SPA FILTER-REPLACE(#2,4) $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#1) $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#2,3,4) $0 $0 $0 $8,063 $0 $0 1208 SPA HEATER-REPLACE(#1,3,4) $0 $0 $0 $6,451 $0 $0 1208 SPA HEATER-REPLACE(#2) $0 $2,027 $0 $0 $0 $0 1210 POOL/SPA PUMP-REPLACE(#1,4) $0 $1,963 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1302 FLAT ROOF-REPLACE(A) $0 $0 $0 $0 $0 $0 1302 FLAT ROOF-REPLACE(B) $0 $0 $0 $0 $738,212 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1402 SIGNAGE-REPLACE $0 $0 $0 $0 $0 $0 1604 TENNIS COURTS-RESURFACE $0 $0 $10,014 $0 $0 $0 1606 BASKETBALL EQP-REPLACE $0 $0 $0 $0 $0 $0 1703 STREAM BEDS-REPAIR $6,149 $0 $0 $6,720 $0 $0 1704 STREAM PUMPS-REPLACE $0 $19,002 $0 $20,159 $0 $21,386 1810 GOLF CARTS-REPLACE $0 $8,741 $0 $0 $0 $0 Total Expenditures $310,205 $380,443 $626,161 $312,057 $1,048.419 $409,621 ASSOCIATION RESERVES, INC. PAGE 8A 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $2,213,637 $2,589,893 $2,821,075 $3,160,382 $3,467,477 $3,311,766 Annual Contribution $607,973 $626,212 $644,999 $664,348 $684,279 $704,807 Interest Earnings $71,958 $81,057 $89,603 $99,286 $101,554 $105,597 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $2,893,568 $3,297,163 $3,555,677 $3,924,016 $4,253,310 $4,122,170 # Expenditures 104 POOL DECKS-RESURFACE $0 $0 $0 $66,114 $0 $0 105 POOL DECKS-SEAL/REPAIR $0 $0 $0 $0 $0 $0 106 REC BLDG DECKS-RESURFACE $0 $0 $0 $3,169 $0 $0 107 REC BLDG DECKS-SEAL/REPAIR $0 $0 $0 $0 $0 $0 109 WOOD BRIDGES/DECKS-REPLACE $0 $0 $0 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 201 ENTRY ASPHALT-RESURFACE $0 $19,248 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $37,781 $0 $0 $0 206 STAMPED CONCRETE-REPLACE $0 $0 $0 $0 $0 $0 303 A/C CONDENSERS-REPLACE(Ph1) $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph2) $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph3) $0 $0 $0 $0 $0 $0 303 A/C CONDENSERS-REPLACE(Ph4) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $15,891 $0 $0 $0 323 COURT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $16,374 $0 $0 $0 $0 $18,982 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $14,801 $0 $0 $0 502 COURT CHAIN LINK-REPLACE $0 $0 $0 $0 $0 $0 503 IRON FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 505 WOOD FENCE-REPLACE $0 $0 $0 $0 $0 $0 506 TRASH GATES-REPLACE $0 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#1) $0 $0 $8,997 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#4) $0 $0 $0 $9,267 $0 $0 601 UNIT CARPET-1/6 REPLACE $67,846 $69,882 $71,978 $74,137 $76,362 $78,652 602 LINOLEUM FLOOR-1/10 REPLACE $9,949 $10,248 $10,555 $10,872 $11,198 $11,534 602 VINYL FLOOR-REPLACE $2,184 $0 $0 $0 $0 $0 703 ENTRY SYSTEM-REPLACE $0 $0 $0 $0 $0 $10,215 705 GATE OPERATOR-REPLACE $0 $0 $0 $0 $0 $0 801 BOILER-REPLACE(A) $0 $0 $0 $0 $0 $0 801 BOILER-REPLACE(B) $0 $0 $0 $0 $0 $0 802 BOILER PUMP-REPLACE(A) $0 $0 $11,996 $0 $0 $0 802 BOILER PUMP-REPLACE(B) $0 $0 $0 $0 $6,942 $0 802 BOILER PUMP-REPLACE(C) $0 $5,294 $0 $0 $0 $0 803 WATER STORAGE TANK-REPLACE $0 $0 $22,279 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $0 $0 903 REC BLDG FURNITURE-REPLACE( $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $59,806 $61,600 $63,448 $65,352 $67,312 $69,332 905 SAUNA HEATERS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $52,133 $53,697 $55,308 $56,967 $58,676 $60,436 910 REC BLDG KITCHEN-REMODEL $0 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#1,4) $0 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#2,3) $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $6,976 $0 $0 $0 $0 $8,087 920 REFRIGERATOR-REPLACE $27,021 $27,832 $28,667 $29,527 $30,412 $31,325 922 OVEN-REPLACE $22,322 $22,991 $23,681 $24,392 $25,123 $25,877 923 DISHWASHER-REPLACE $14,098 $14,521 $14,956 $15,405 $15,867 $16,343 923 MICROWAVE-REPLACE $14,098 $14,521 $14,956 $15,405 $15,867 $16,343 1003 IRRIGATION TIMERS-REPLACE $0 $0 $0 $0 $0 $0 1106 COURT CHAIN LINK-REPAINT $0 $7,260 $0 $0 $0 $0 1107 IRON FENCE/RAIL-REPAINT $0 $0 $0 $39,556 $0 $0 1114 SIGNAGE-REPAINT $0 $983 $0 $0 $0 $0 ASSOCIATION RESERVES, INC. PAGE 9 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 IIIIYear 2013 2014 2015 2016 2017 2018 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $79,865 $0 $0 $0 $0 1117 WOOD SURFACES-REPAIR $0 $40,6139 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1203 SPA-RESURFACE $0 $10,891 $0 $0 $0 $0 1207 POOL FILTER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $6,810 1207 POOL FILTER-REPLACE(#2) $1,469 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#1,3) $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#2,4) $0 $2,269 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#1) $0 $0 $0 $3,209 $0 $0 1208 POOL HEATER-REPLACE(#2,3,4) $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#2) $0 $0 $0 $0 $0 $2,724 1210 POOL/SPA PUMP-REPLACE(#1,4) $0 $0 $0 $0 $0 $2,639 1301 CARPORT ROOF-REPLACE $0 $0 $0 $0 $275,943 $0 1302 FLAT ROOF-REPLACE(A) $0 $0 $0 $0 $357,842 $0 1302 FLAT ROOF-REPLACE(B) $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1402 SIGNAGE-REPLACE $0 $0 $0 $0 $0 $0 1604 TENNIS COURTS-RESURFACE $0 $11,609 $0 $0 $0 $0 1606 BASKETBALL EQP-REPLACE $2,056 $0 $0 $0 $0 $0 1703 STREAM BEDS-REPAIR $7,343 $0 $0 $8,024 $0 $0 1704 STREAM PUMPS-REPLACE $0 $22,889 $0 $24,071 $0 $25,536 1810 GOLF CARTS-REPLACE $0 $0 $0 $11,072 $0 $0 Total Expenditures $303,674 $476,088 $395,295 $456,539 $941,545 $384.835 illy ASSOCIATION RESERVES,INC. PAGE 9A 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $3,737,335 $3,395,819 $3,654,548 $3,806,333 $3,752,870 $2,721,107 Annual Contribution $725,952 $747,730 $770,162 $793,267 $817,065 $841,577 Interest Earnings $106,856 $105,616 $111,765 $113,238 $96,981 $78,781 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $4,570,142 $4,249,165 $4,536,475 $4,712,837 $4,666,916 $3,641,465 # Expenditures 104 POOL DECKS-RESURFACE $0 $0 $0 $0 $0 $0 105 POOL DECKS-SEAL/REPAIR $0 $26,595 $0 $0 $0 $29,933 106 REC BLDG DECKS-RESURFACE $0 $0 $0 $0 $0 $0 107 REC BLDG DECKS-SEAL/REPAIR $0 $1,309 $0 $0 $0 $1,474 109 WOOD BRIDGES/DECKS-REPLACE $0 $0 $0 $0 $35,229 $0 201 ASPHALT-RESURFACE $308,398 $0 $0 $0 $0 $0 201 ENTRY ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $42,523 $0 $0 $0 $47,859 $0 206 STAMPED CONCRETE-REPLACE $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph1) $0 $0 $328,156 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph2) $0 $0 $0 $338,001 $0 $0 303 A/C CONDENSERS-REPLACE(Ph3) $0 $0 $0 $0 $348,141 $0 303 A/C CONDENSERS-REPLACE(Ph4) $0 $0 $0 $0 $0 $358,585 320 POLE LIGHTS-REPLACE $0 -$18,422 $0 $0 $0 $0 323 COURT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $32,194 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $0 $0 $0 $22,005 $0 405 PLAY EQUIPMENT-REPLACE $0 $56,893 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $0 $0 $18,749 $0 502 COURT CHAIN LINK-REPLACE $0 $0 $0 $0 $0 $0 503 IRON FENCE/RAIL-REPLACE $0 $0 $0 $0 $0 $0 505 WOOD FENCE-REPLACE $0 $0 $0 $0 $0 $16,008 506 TRASH GATES-REPLACE $0 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#1) $0 $0 $0 $0 $11,397 $0 601 REC BLDG CARPET-REPLACE(#4) $0 $0 $0 $0 $0 $11,739 601 UNIT CARPET-1/6 REPLACE $81,012 $83,442 $85,946 $88,524 $91,180 $93,915 602 LINOLEUM FLOOR-1/10 REPLACE $11,880 $12,236 $12,603 $12,982 $13,371 $13,772 602 VINYL FLOOR-REPLACE $0 $0 $2,767 $0 $0 $0 703 ENTRY SYSTEM-REPLACE $0 $0 $0 $0 $0 $0 705 GATE OPERATOR-REPLACE $0 $22,757 $0 $0 $0 $0 801 BOILER-REPLACE(A) $0 $0 $0 $183,946 $0 $0 801 BOILER-REPLACE (B) $0 $0 $0 $0 $0 $0 802 BOILER PUMP-REPLACE (A) $0 $13,907 $0 $0 $0 $0 802 BOILER PUMP-REPLACE(B) $0 $0 $0 $8,048 $0 $0 802 BOILER PUMP-REPLACE(C) $6,137 $0 $0 $0 $0 $7,115 803 WATER STORAGE TANK-REPLACE $0 $0 $0 $0 $28,222 $0 902 EXERCISE EQUIPMENT-REPLACE ( $11,047 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE( $0 $0 $0 $0 $0 $0 903 REC BLDG FURNITURE-REPLACE ( $27,618 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $71,412 $73,554 $75,760 $78,033 $80,374 $82,786 905 SAUNA HEATERS-REPLACE $0 $0 $6,697 $0 $0 $0 909 BATHROOM-REFURBISH $62,249 $64,117 $66,040 $68,022 $70,062 $72,164 910 REC BLDG KITCHEN-REMODEL $0 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#1,4) $0 $0 $37,950 $0 $0 $0 910 RESTROOMS-REMODEL(#2,3) $0 $0 $0 $0 $0 $22,361 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $0 $9,375 $0 920 REFRIGERATOR-REPLACE $32,265 $33,232 $34,229 $35,256 $36,314 $37,403 922 OVEN-REPLACE $26,653 $27,453 $28,276 $29,125 $29,999 $30,898 923 DISHWASHER-REPLACE $16,834 $17,339 $17,859 $18,395 $18,946 $19,515 923 MICROWAVE-REPLACE $16,834 $17,339 $17,859 $18,395 $18,946 $19,515 1003 IRRIGATION TIMERS-REPLACE $0 $0 $0 $0 $13,124 $0 1106 COURT CHAIN LINK-REPAINT $8,417 $0 $0 $0 $0 $9,757 1107 IRON FENCE/RAIL-REPAINT $0 $44,521 $0 $0 $0 $50,108 1114 SIGNAGE-REPAINT $1,140 $0 $0 $0 $0 $1,321 ASSOCIATION RESERVES, INC. PAGE 10 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 1115 STUCCO-REPAINT $254,784 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $92,585 $0 $0 $0 $0 $107,332 1117 WOOD SURFACES-REPAIR $47,169 $0 $0 $0 $0 $54,682 1202 POOL-RESURFACE $0 $0 $0 $42,921 $0 $0 1203 SPA-RESURFACE $0 $0 $13,394 $0 $0 $0 1207 POOL FILTER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE(#2) $0 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#1,3) $0 $2,709 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#2,4) $0 $0 $0 $0 $0 $3,049 1208 POOL HEATER-REPLACE(#1) $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#2,3,4) $0 $10,837 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#1,3,4) $0 $8,669 $0 $0 $0 $0 1208 SPA HEATER-REPLACE(#2) $0 $0 $0 $0 $0 $0 1210 POOL/SPA PUMP-REPLACE(#1,4) $0 $0 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $0 - $0 $0 $0 1302 FLAT ROOF-REPLACE(A) $0 $0 $0 $0 $0 $0 1302 FLAT ROOF-REPLACE(B) $0 $0 $0 $0 $1,052,514 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1402 SIGNAGE-REPLACE $33,141 $0 $0 $0 $0 $0 1604 TENNIS COURTS-RESURFACE $13,458 $0 $0 $0 $0 $15,602 1606 BASKETBALL EDP-REPLACE $0 $0 $2,604 $0 $0 $0 1703 STREAM BEDS-REPAIR $8,768 $0 $0 $9,581 $0 $0 1704 STREAM PUMPS-REPLACE $0 $27,092 $0 $28,742 $0 $30,492 1810 GOLF CARTS-REPLACE $0 $0 $0 $0 $0 $14,026 Total Expenditures $1,174,323 $594,617 $730,142 $959,968 $1,945,808 $1,103,553 ASSOCIATION RESERVES, INC. PAGE 10A 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2026 2029 2030 STARTING BALANCE $2,537,912 $2,639,550 $3,166,305 $3,721,631 $4,143,866 $3,638,819 Annual Contribution $866,824 $892,829 $919,614 $947,202 $975,618 $1,004,887 Interest Earnings $77,559 $86,973 $103,182 $117,826 $116,586 $117,205 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $3,482,295 $3,619,351 $4,189,101 $4,786,659 $5,236,070 $4,760,911 # Expenditures 104 POOL DECKS-RESURFACE $0 $0 $0 $0 $0 $0 105 POOL DECKS-SEAL/REPAIR $0 $0 $0 S33,690 $0 $0 106 REC BLDG DECKS-RESURFACE $0 $0 $0 $0 $0 $0 107 REC BLDG DECKS-SEAL/REPAIR $0 $0 $0 $1,659 $0 $0 109 WOOD BRIDGES/DECKS-REPLACE $0 $0 $0 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 i 201 ENTRY ASPHALT-RESURFACE $0 $0 $0 $0 $29,987 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $53,866 $0 $0 $0 206 STAMPED CONCRETE-REPLACE $0 $23,884 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph1) $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph2) $0 SO $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph3) $0 $0 $0 $0 $0 $0 303 NC CONDENSERS-REPLACE(Ph4) $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $21,357 $0 $0 $0 $0 $24,758 323 COURT LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 - $0 $0 $25,510 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 407 GAS BBQ-REPLACE $0 $0 $0 $0 $0 $0 502 COURT CHAIN LINK-REPLACE $0 $0 $0 $0 $0 $0 503 IRON FENCE/RAIL-REPLACE $68,048 $0 $0 $0 $0 $0 505 WOOD FENCE-REPLACE $0 $0 $0 $0 $0 $0 506 TRASH GATES-REPLACE $11,516 $0 $0 $0 $0 $0 601 REC BLDG CARPET-REPLACE(#1) $0 $0 $0 • $0 $0 $0 601 REC BLDG CARPET-REPLACE(#4) $0 $0 $0 $0 $0 $0 601 UNIT CARPET-1/6 REPLACE $96,733 $99,635 $102,624 $105,702 $108,873 $112,140 602 LINOLEUM FLOOR-1/10 REPLACE $14,185 $14,611 $15,049 $15,501 $15,966 $16,445 602 VINYL FLOOR-REPLACE $0 $0 $0 $0 $3,505 $0 703 ENTRY SYSTEM-REPLACE $0 $0 $0 $0 $0 $14,564 705 GATE OPERATOR-REPLACE $0 $0 $0 $28,828 $0 $0 801 BOILER-REPLACE(A) $0 $0 $0 $0 $0 $0 801 BOILER-REPLACE(B) $157,033 $0 $0 $0 $0 $0 802 BOILER PUMP-REPLACE(A) $16,122 $0 $0 $0 $0 $18,690 802 BOILER PUMP-REPLACE(B) $0 $0 $9,329 $0 $0 $0 802 BOILER PUMP-REPLACE(C) $0 $0 $0 $0 $8,248 $0 803 WATER STORAGE TANK-REPLACE $0 $0 $0 $0 $0 $0 902 EXERCISE EQUIPMENT-REPLACE ( $0 $0 $0 $0 $14,846 $0 902 EXERCISE EQUIPMENT-REPLACE ( -$46,063 $0 $0 $0 $0 $0 1 903 REC BLDG FURNITURE-REPLACE ( $0 $0 $0 $0 $37,116 $0 904 KITCHEN COUNTER/CABINET-REP $85,269 $87,827 $90,462 $93,176 $95,971 $98,850 905 SAUNA HEATERS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $74,329 $76,559 $78,856 $81,221 $83,658 $86,168 910 REC BLDG KITCHEN-REMODEL $10,783 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#1,4) $0 $0 $0 $0 $0 $0 910 RESTROOMS-REMODEL(#2,3) $0 $0 $0 $0 $0 $0 912 OFFICE EQUIPMENT-REPLACE $0 $0 $0 $10,868 $0 $0 920 REFRIGERATOR-REPLACE $38,526 S39,681 $40,872 $42,098 $43,361 $44,662 922 OVEN-REPLACE $31,825 $32,780 $33,764 $34,777 $35,820 $36,894 923 DISHWASHER-REPLACE $20,100 $20,703 $21,324 $21,964 $22,623 $23,302 923 MICROWAVE-REPLACE $20,100 $20,703 $21,324 $21,964 $22,623 $23,302 1003 IRRIGATION TIMERS-REPLACE $0 $0 $0 $0 $0 $0 1106 COURT CHAIN LINK-REPAINT $0 $0 $0 $0 $11,312 $0 1107 IRON FENCE/RAIL-REPAINT $0 $0 $0 $56,397 $0 $0 1114 SIGNAGE-REPAINT $0 $0 $0 $0 $1,532 $0 ASSOCIATION RESERVES, INC. PAGE 11 8208-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 1115 STUCCO-REPAINT $0 $0 $0 $0 $342,409 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $124,427 $0 1117 WOOD SURFACES-REPAIR $0 $0 $0 $0 $63,392 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1203 SPA-RESURFACE $0 $0 $0 $16,473 $0 $0 1207 POOL FILTER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $9,709 1207 POOL FILTER-REPLACE(#2) $2,094 $0 $0 $0 $0 $0 1207 SPA FILTER-REPLACE(#1,3) $0 - ` $0 $0 $0 $0 $3,641 1207 SPA FILTER-REPLACE(#2,4) $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#1) $0 $4,313 $0 $0 $0 $0 1208 POOL HEATER-REPLACE(#2,3,4) $0 $0 $0 $0 $0 $14,564 1208 SPA HEATER-REPLACE(#1,3,4) $0 $0 $0 $0 $0 $11,651 1208 SPA HEATER-REPLACE(#2) $0 $0 $0 $3,661 $0 $0 1210 POOL/SPA PUMP-REPLACE(#1,4) $0 $0 $0 $3,546 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1302 FLAT ROOF-REPLACE(A) $0 $0 $0 $0 $510,196 $0 1302 FLAT ROOF-REPLACE(B) $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $118,194 $0 $0 $0 $0 $0 1402 SIGNAGE-REPLACE $0 $0 $0 $0 $0 $0 1604 TENNIS COURTS-RESURFACE $0 $0 $0 $0 $18,087 $0 1606 BASKETBALL EQP-REPLACE $0 $0 $0 $0 $3,299 $0 1703 STREAM BEDS-REPAIR $10,469 $0 $0 $11,440 $0 $0 1704 STREAM PUMPS-REPLACE $0 $32,349 $0 $34,319 $0 $36,409 1810 GOLF CARTS-REPLACE $0 $0 $0 $0 $0 $0 Total Expenditures $842,746 $453,046 $467,470 $642,793 $1,597,251 $575,747 limmov L ASSOCIATION RESERVES,INC. PAGE 11A • Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 104 POOL DECKS-RESURFACE ~` Quantity: Approx 11,770 Sq Ft Location: Pool/spa areas#1, 2, 3, and 4 • Evaluation: The pool decks are in poor condition. There is staining,cracking,and voids. Resurfacing is recommended. • Useful Lifer ' d. - _ r' 16 years �� i _ a ....orate .-�., . Remaining Life: . - �; ` , r. 0 years 4, 3� _ . x...,,i,-- - t 'd- ' c ,.- *1""' r ',Ae.+ '-7 !A e- - - it rt `shy 74:. Best Case: $35,300.00 Worst Case: $47,100.00 $3.00/Sq Ft; Estimate to resurface $4.00/Sq Ft; Higher estimate Cost Source: ARI Cost Database Comp#: 105 POOL DECKS-SEAL/REPAIR j Quantity: Approx 11,770 Sq Ft •✓ Location: Pool/spa areas#1,2,3, and 4 Evaluation: Poor condition. Decks need resurfacing rather than seal coating and minor repairs at this time. Reseal periodically to restore the appearance and to preserve the decking integrity. Useful Life: - • s =. '`. mpg "4 years IN. A V> Y , '' 1, Remaining Life: ' ". 4 years • 4 • Best Case: $11,800.00 Worst Case: $17,650.00 $1.00/Sq Ft; Estimate to reseal $1.50/Sq Ft; Higher estimate to include minor repairs Cost Source: ARI Cost Database s i i February 29,2000 Page 1 of 47 4 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 106 REC BLDG DECKS- RESURFACE Quantity: Approx 560 Sq Ft Location: Upper level decks at the#1 and#4 Recreation buildings Evaluation: This decking surface is aged and worn. Staining and bubbles noted. At clubhouse#1 (pool#1)there is lifting and peeling. Overall poor condition. • 6 7 : f • Useful Life: 16 years et& ;._*FX r - , — Remaining Life: - = h "` ,.• S 0 years w Best Case: $1,700.00 Worst Case: $2,250.00 $3.00/Sq Ft; Estimate to resurface $4.00/Sq Ft; Higher estimate Cost Source: ARI Cost Database Nor Comp#: 107 REC BLDG DECKS-SEAL/REPAIR Quantity: Approx 560 Sq Ft Location: Upper level decks at the#1 and#4 Recreation buildings Evaluation: Poor condition. Decks need resurfacing at this time. Seal coat and repair regularly to preserve the decks. Useful Life: 4 years .:,.- �: • ;± Remaining Life: r 4 years r .e } Best Case: $600.00 Worst Case: $850.00 $1.00/Sq Ft; Estimate to resurface $1.50/Sq Ft; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 2 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 109 WOOD BRIDGES/DECKS-REPLACE Quantity: (60) Bridges, (63) Decks Location: Walkway bridges throughout and various lower level unit patios Evaluation: Conditions vary throughout the property. Replacement was in process at the time of inspection. The replacement cost budgeted reflects only material costs as installation is treated as a maintenance issue by the on-site staff. Useful Life: --_ - _ 12 years - - , Remaining Life: �;,;...: '" 11 years 1�N--w`'„,,^I.• '44.,.4:._. . .,.., .' lli ;)., :. • • <. ,/' `,� __ t. ,.. e� , Best Case: $17,250.00 Worst Case: $18,450.00 $140/Each; Estimate for replacement materials only $150/Each; Higher cost for materials Cost Source: Estimate Provided by Client void Comp#: 110 WOOD BRIDGES/DECKS- RESEAL Quantity: (60) Bridges, (63) Decks Location: Walkway bridges throughout and various lower level unit patios Evaluation: Some of the bridges and decks are varnished while others are not. This seal coating is addressed as a maintenance issue by the on-site staff. d f.. e Useful Life: • - ..�, 2'Y. _ ti .,�s'' .;ai Remaining Life: A i`>i `t :1 Y ivit., ..0--Ri it Best Case: Worst Case: Cost Source: February 29,2000 Page 3 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place *,..• Comp#: 201 ASPHALT-RESURFACE Quantity: Approx 175,830 Sq Ft Location: Driveways and parking areas Evaluation: There is extensive cracking throughout the property. Some areas are experiencing significant deterioration. Anticipate a new resurface project in early 2000. - • 4i� .fly �..p�� 3k> hiT�� -...r } Useful Life: „" `'• - � `� • . 20 years .� v - ,, t �-�. g Remaining Life: . - ^ �,.,,.-'i b-14 ,:i .,, : °£` � 19 years �.. Fri Lst -, ''I s 4. 4 f r r _..b. _ - rJ Best Case: $149,550.00 Worst Case: $202,200.00 $0.85/Sq Ft; New topcoat $1.15/Sq Ft; Higher estimate for partial replacement Cost Source: ARI Cost Database Comp#: 201 ENTRY ASPHALT-RESURFACE Quantity: Approx 10,600 Sq Ft Location: Entry driveway Evaluation: The entry driveway asphalt is not experiencing significant deterioration or cracking. Resurfacing is anticipated in early 2000. Useful Life: 15 years Remaining Life: Photo Not Available 14 years Best Case: $10,600.00 Worst Case: $14,850.00 $1.00/Sq Ft; New topcoat $1.40/Sq Ft; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 4 of 47 Association Reserves, Inc. Inventory Appendix . Client: 8208A One Quail Place Comp#: 202 ASPHALT-SEAL/REPAIR Quantity: Approx 186,430 Sq Ft Location: Driveways and parking areas Evaluation: The seal coat is worn and faded. Cracking is evident throughout. Anticipate a seal project in early 2000. Reseal regularly to preserve and to protect the surface in future years. )411 Useful Life: - 4 years Aiir Remaining Life: � 3 years Best Case: $18,650.00 Worst Case: $29,850.00 $0.10/Sq Ft; Estimate for seal coat $0.16/Sq Ft; Includes minor patching and repairs Cost Source: ARI Cost Database Comp#: 206 STAMPED CONCRETE- REPLACE Quantity: Approx 885 Sq Ft Location: Entry drive Evaluation: The stamped concrete is looking old and worn. Discoloration was also noted. There is no significant cracking or splitting occurring. Recommend replacing at some point in the future to restore the appearance. - pli Useful Life: . - w.- 20 years Remaining Life: • * ,► 6 years L- r Fl [•�e�S Best Case: $8,850.00 Worst Case: $13,300.00 $10.00/Sq Ft; Estimate for replace $15.00/Sq Ft; Higher estimate Cost Source: ARI Cost Database Nohow February 29,2000 Page 5 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 303 A/C CONDENSERS-REPLACE(Ph1) Quantity: 25%of(392)Condensers Location: Recreation buildings and unit roofs Evaluation: The air conditioners on this property are original from 1985. Some look weathered and rusted. Due to the number of air conditioners,there is no expectancy to replace all of them at the same time. Project will be phased over four years. r • Useful Life: ' .`` 18 years , •r IIIII ,:- Remaining Life: \` - _ . ! ' 3 years \ it x ,1 • • , • '_'`' . 'his 1-* 5 1 . Best Case: $147,000.00 Worst Case: $205,800.00 $1,500/Unit; Estimate to replace 25%of the total $2,100/Unit; Higher estimate to replace 25% Cost Source: ARI Cost Database Comp#: 303 A/C CONDENSERS-REPLACE(Ph2) Quantity: 25%of(392)Condensers Location: Recreation buildings and unit roofs Evaluation: Phase 2 of the replacement project. These rooftop condensers have faded surfaces and rusted grills. Aged and weathered appearances. s'y, ` ,�< .4- T .- Useful Life: r;; • ''' 1 18 years *-� ! h ' - . Remaining Life: i. a -- , ,k 4 years ... ,a•: -r ` ., w , .a, z �__-.- .: i 7. Best Case: $147,000.00 Worst Case: $205,800.00 $1,500/Unit; Estimate to replace 25%of the total $2,100/Unit; Higher estimate to replace 25% Cost Source: ARI Cost Database fir` February 29.2000 Page 6 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 303 NC CONDENSERS-REPLACE(Ph3) ""' Quantity: 25%of(392)Condensers Location: Recreation buildings and unit roofs Evaluation: Phase 3 of the replacement project. 'li Useful Life: i 'i ;.: i 4 • 18 years >F Remaining Life: ? ri i - 5 years I * - Best Case: $147,000.00 Worst Case: $205,800.00 $1,500/Unit; Estimate to replace 25%of the total $2,100/Unit; Higher estimate to replace 25% Cost Source:ARI Cost Database Comp#: 303 NC CONDENSERS-REPLACE(Ph4) Quantity: 25%of(392)Condensers -4411 Location: Recreation buildings and unit roofs Evaluation: Phase 4 of the replacement project. Useful Life: �."—.. rr. .. ._ .. . ' t� ,: ' 18 years 10+ _ �.- . Remaining Life: ': •` /_ T t 1 6 years /. ... .,. # i ......, '-le ...- 4.:.....%-11.2 ; sW' . . Best Case: $147,000.00 Worst Case: $205,800.00 $1,500/Unit; Estimate to replace 25%of the total $2,100/Unit; Higher estimate to replace 25% Cost Source: ARI Cost Database msoil February 29,2000 Page 7 of 47 • • Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 320 POLE LIGHTS-REPLACE Quantity: 20%of(170) Poles Location: Throughout common area Evaluation: Conditions vary. Some fixtures are broken and pushed over. There is abuse evident on many fixtures. • A • • • • • Useful Life: • 5 years .•• ' ,) : ' Remaining Life: i 'ti�'� „v. . 0 years .w Best Case: $8,500.00 Worst Case: $11,900.00 $250/Pole; Estimate to replace 20%of the pole $350/Pole; Higher estimate to replace 20% fixtures Cost Source: ARI Cost Database WilW Comp#: 323 COURT LIGHTS- REPLACE Quantity: (8) Double, (20) Single Location: Tennis, handball, and volleyball courts Evaluation: The court lights are in good condition. They are all structurally sound and not experiencing any deterioration. No expectancy to replace the entire pole assembly, but future replacement of the fixture heads should be anticipated. Useful Life: , 25 years Remaining Life: " " Lx • .; 9 years # ' l• rat, ` �I • 1 1 i • • • ; Best Case: $14,000.00 Worst Case: $19,600.00 $500/Fixture; Estimate to replace, installed $700/Fixture; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 8 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 324 WALL LIGHTS-REPLACE Quantity: Approx(380) Lights Location: Building exteriors Evaluation: A lot of the exterior wall lights look aged and worn. There is no expectancy to replace all of them. The on-site maintenance crew can repair or replace the fixtures individually as needed. Useful Life: L. L- Remaining Life: i 4tet A F 4 • Best Case: Worst Case: Cost Source- Comp#: 403 MAILBOXES-REPLACE Quantity: (396) Mailboxes Location: Throughout common area Evaluation: The mailboxes are original from 1985. No damage or abuse noted. Surfaces do look aged and weathered though. Surface pitting, staining, and tarnishing also noted. Still intact and functional. • — E . + Useful Life: 20 years ' - - , Remaining Life: • 'i _ 0 years t ' Lfr r-,,t�'` fir" x • yt „„,,4 r • (i lea R Itt • Best Case: $15,850.00 Worst Case: $19,800.00 $40.00/Box; Estimate to replace, installed $50.00/Box; Higher quality boxes Cost Source: ARI Cost Database February 29,2000 Page 9 of 47 I Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place `+ Comp#: 404 POOL FURNITURE- REPLACE Quantity: (94)Assorted Pieces Location: Pool/spa areas Evaluation: The furniture includes: (48) Lounges, (26)Chairs, (7)Tables, (7) Umbrellas, and (3) Cocktail Tables. Overall fair conditions observed. The frames are all in good shape. Some of the straps are faded and stained;a few of them were also broken. ) t i, , i , \ Of Useful Life: _ _ i ) 5 years , k. » Remaining Life: 3 years % 7 i t +his{..4.'' : `{�y�"', ".' _ - Best Case: $9,500.00 Worst Case: $12,800.00 Estimate for replacement pieces Higher estimate for more pieces or better quality Cost Source:ARI Cost Database 'Vow Comp#: 405 PLAY EQUIPMENT- REPLACE Quantity: (5)Assorted Pieces Location: Recreation area Evaluation: The equipment includes a large play structure, a swing set, and three benches. Good conditions observed. Some minor wear, but no abuse noted. • ^7n. .4 � ' .e Useful Life: :-. .rdek• • 1; ., 12 years Remaining Life: „` `'''1 IUiI W .: '• \,I:'`: a.'` 4., • =,paE a *s z Best Case: $28,000.00 Worst Case: $35,000.00 Estimate to replace, installed Higher estimate Cost Source:ARI Cost Database February 29.2000 Page 10 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 407 GAS BBC)- REPLACE -.....- Quantity: (19) Ducane BBQs Location: Pool areas and throughout the development Evaluation: These barbecues vary in age;they were installed between the late 1980s and early 1990s. All of them look aged and worn. Some of them may not be functional. Full replacement is anticipated in the near future,so budget for next cycle of replacement. a . 1 i - - Useful Life: 4 _ -- - - .. 8 years - r Remaining Life: ,f4,?!a f;_ ' ..i. .. i "' 7 years %/i/' p' r t t '., Best Case: $7,600.00 Worst Case: $11,400.00 $400/BBQ; Estimate to replace, installed $600/BBQ; Higher estimate Cost Source:ARI Cost Database Comp#: 502 COURT CHAIN LINK-REPLACE Quantity: Approx 870 Linear Ft Location: Tennis courts and playground Evaluation: The fences are structurally sound and in good to fair condition. There is no significant damage or deterioration. Due to its location,this fencing should be subject to a lot of use and abuse. Future replacement should be anticipated. Useful Life: • ;i _.. c , .'• -...:- . -4, . ft ,1*. : I .:: 25 years • • Remaining Life: T `N'T°�oa r" ! a W 9 years 4�',. t ,, 44 0441.1,11;::;.:1.41;' ':,....;';';,'''''''''''''2.,(5.:: -v. ..., _ ._ Best Case: $15,700.00 Worst Case: $19,150.00 $18.00/LF; Estimate to replace $22.00/LF; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 11 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place So'' Comp#: 502 PERIMETER CHAIN LINK- REPLACE Quantity: Approx 1,210 Linear Ft Location: Property perimeter Evaluation: Good to fair condition. There is no expectancy to replace this fencing. Repair or replace individual sections as needed with operating funds. Useful Life: Remaining Life: Best Case: Worst Case: Cost Source: ' �► Comp#: 503 IRON FENCE/RAIL- REPLACE Quantity: Approx 1,140 Linear Ft Location: Pool perimeters and property entrance Evaluation: The iron is structurally sound. There are no signs of significant rusting or corrosion. This portion of the iron is exposed to regular irrigation. Future replacement should be anticipated. Paint regularly to preserve and protect the surface. � i { e• i Useful Life: 20 years I taTii Remaining Life: 5 years • tf • • t r+,tom• 1.7;°- \. Best Case: $28,500.00 Worst Case: $36,500.00 $25.00/LF; Estimate to replace $32.00/LF; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 12 of 47 Association Reserves, Inc. Inventory Appendix . Client: 8208A One Quail Place Comp#: 505 WOOD FENCE-REPLACE Quantity: Approx 450 Linear Ft Location: Boiler enclosures Evaluation: This wood fencing can be found around each boiler. It is older and likely still original. Several spots are looking worn and have minor damage. Recommend coordinating replacement with the next wood painting project. i� : 3 • Useful Life: , 20 years • Ili - 11 , . -- Remaining Life: 4 years .{ . lik!..t 111 Best Case: $6,750.00 Worst Case: $9,000.00 $15.00/Linear Ft; Estimate to replace $20.00/Linear Ft; Higher estimate Cost Source:ARI Cost Database Comp#: 506 TRASH GATES-REPLACE Quantity: (11) Iron Gates,6x5 Location: Garbage enclosures throughout property Evaluation: Several of the gates look abused and damaged. Some repairs are evident. These are heavy-duty gates, but given their location and levels of potential abuse, future replacement should be anticipated. itrir .1.4:.....- .. _,, , _.._ F f M�2 n -It..., - .;Y-- -r • Useful Life: te_ ^`{ • ! ;" 20 years ..4—iimil It Remaining Life: .' i_ _ 5 ears • . v..._#• . ` a - y l �.a_ -. _t •1 -T !� _ • f Best Case: $4,400.00 Worst Case: $6,600.00 $400/Gate; Estimate to replace, installed $600/Gate; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 13 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place 'tier Comp#: 601 REC BLDG CARPET- REPLACE(#1) Quantity: Approx 274 Sq Yds Location: Recreation building adjacent to pool#1 Evaluation: The carpet in this building is in good condition. It was recently replaced during July 1999. No significant wear or damage observed. r Useful Life: ' , • 8 years `{�.. Remaining Life: : `%'` • �` 7 years = FF. s � F Best Case: $4,950.00 Worst Case: $6,600.00 $18.00/Sq Yd; Replacement carpet, installed $24.00/Sq Yd; Higher quality carpet Cost Source: Client Cost History Comp#: 601 REC BLDG CARPET- REPLACE(#4) Quantity: Approx 274 Sq Yds Location: Recreation building adjacent to pool #4 Evaluation: The carpet in this building is in poor condition. It shows wear and staining. This recreation building was shut down at the time of inspection due to vandalism. 1:74 _ • _lit: Useful Life: • 8 years - Remaining Life: • 0 years Best Case: $4,950.00 Worst Case: $6,600.00 $18.00/Sq Yd; Replacement carpet, installed $24.00/Sq Yd; Higher quality carpet Cost Source: Client Cost History February 29,2000 Page 14 of 47 Association Reserves, Inc. Inventory Appendix , Client: 8208A One Quail Place Comp#: 601 UNIT CARPET-1/6 REPLACE Quantity: Approx 27,715 Sq Yds Location: Unit interiors Evaluation: Conditions vary throughout. Some of the unit carpet is in poor condition while other units have new carpet. No expectancy to replace all of this carpet at the same time. This component budgets to replace 1/6 per year. Useful Life: . --.2 14'4 :;.... -:- - : ,V .1, 1 years Remaining Life: 0 years M Best Case: $41,600.00 Worst Case: $50,800.00 $9.00/Sq Yd; Estimate to replace 1/6 of the total $11.00/Sq Yd; Higher estimate to replace 1/6 Cost Source: ARI Cost Database Comp#: 602 LINOLEUM FLOOR-1/10 REPLACE Quantity: Approx 5,200 Sq Yds Location: Unit kitchens, bathrooms, and entry areas Evaluation: Conditions vary throughout. Those units observed were still in decent shape. There is no expectancy to replace all of this flooring at the same time. This component budgets to replace 1/10 of the flooring per year. 1 y Useful Life: i — r- 1 years j Remaining Life: / 0 years / _ Best Case: $6,250.00 Worst Case: $7,300.00 $12.00/Sq Yd; Estimate to replace 1/10 of the total $14.00/Sq Yd; Higher estimate to replace 1/10 Cost Source: ARI Cost Database voadi February 29.2000 Page 15 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 602 VINYL FLOOR- REPLACE Quantity: Approx 114 Sq Yds Location: Laundry rooms Evaluation: This vinyl flooring is in fair condition. Reportedly not too old at this time. Already looking scuffed and worn in spots. r ill Useful Life: N. 8 years Remaining Life: 5 years _- / Best Case: $1,375.00 Worst Case: $1,600.00 $12/Sq Yd; Estimate to replace $14/Sq Yd; Higher estimate Cost Source: ARI Cost Database Now Comp#: 703 ENTRY SYSTEM- REPLACE Quantity: (2)Telephone Systems Location: Entry areas of driveway Evaluation: tntroVtThilf driYftrittional and in good shape. No abuse or damage observed. The surface is fading and beginning to look aged. Good to fair condition. . IIII ` 1 Useful Life: 1. 12 years 0 -!k' yIs'.S ' r�4 • "kF. Remaining Life: . ' r, 6 years 7 ... _ I r '' _ ••• = .41 14 ,};r:: Best Case: $5,000.00 Worst Case: $7,000.00 $2,500/System; Estimate to replace, installed $3,500/System; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 16 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 705 GATE OPERATOR-REPLACE Quantity: (6) Elite Operators Location: Driveway entry/exits Evaluation: These operators were installed in early 1996. Still functional and in decent shape. They are starting to look aged however. or 1 • ! s. Useful Life: 8 years Remaining Life: • •u" ; 4 years • �f.f err 4 Best Case: $10,800.00 Worst Case: $14,400.00 $1,800/Operator; Estimate to replace, installed $2,400/Operator; Higher estimate Cost Source: ARI Cost Database Comp#: 801 BOILER- REPLACE(A) Quantity: (6)Teledyne, 1.1 M BTU Location: Adjacent to building#'s 4,8, 11, 24, 30, and 37 Evaluation: The boilers included in this list are#'s 1,2, 3, 7,8, and 10. All of them are over one million BTU. Due to new air quality regulations, boilers this size and age must be replaced by July 1, 2002. • ,• S. ,� zy, 1 a • a d . t Useful Life: `" ; 20 years - Remaining Life: 2 years • Best Case: $90,000.00 Worst Case: $102,000.00 $15,000/Boiler; Estimate to replace, installed $17,000/Boiler; Higher estimate Cost Source: Research with Local Vendor/Contractor February 29,2000 Page 17 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Sib Comp#: 801 BOILER-REPLACE(B) Quantity: (5)Teledyne, 925000 BTU Location: Adjacent to building#'s 14, 18,21, 33,and 40 Evaluation: The boilers included in this list are#'s 4, 5,6,9, and 11. Due to new air quality regulations, boilers this size and age must be replaced by January 1,2006. ~Tt� i'7RC. Useful Life: 20 years Remaining Life: v * 5 years i Best Case: $70,000.00 Worst Case: $80,000.00 $14,000/Boiler; Estimate to replace, installed $16,000/Boiler; Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 802 BOILER PUMP- REPLACE(A) Quantity: (11)Armstrong Pumps Location: Boiler enclosures throughout property Evaluation: These pumps were installed in 1995, 1994,and earlier. This set of pumps is either nearing the end of their useful lives or have already exceeded the typical life span. ,• Useful Life: 5years " . ; gia fr • Remaining Life: 0 years , x /� • Best Case: $6,600.00 Worst Case: $8,800.00 $600/Pump; Estimate to replace, installed $800/Pump; Higher estimate Cost Source: Research with Local Vendor/Contractor tie February 29.2000 Page 18 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 802 BOILER PUMP-REPLACE(B) Quantity: (6)Armstrong Pumps Location: Boiler enclosures throughout property Evaluation: These pumps were installed during 1997. They are functional and in fair condition. Useful Life: 5 years -i, - Remaining Life: Life: 2 years Best Case: $3,600.00 Worst Case: $4,800.00 $600/Pump; Estimate to replace, installed $800/Pump; Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 802 BOILER PUMP-REPLACE(C) Quantity: (5) Armstrong Pumps salad Location: Boiler enclosures throughout property Evaluation: These pumps were installed over 1998 and 1999. They are relatively new and in good condition. Useful Life: H /• "; y' . 5 years 41* Remaining Life:4years • • Best Case: $3,000.00 Worst Case: $4,000.00 $600/Pump; Estimate to replace, installed $800/Pump; Higher estimate Cost Source: Research with Local Vendor/Contractor .41.604 February 29,2000 Page 19 of 47 Association Reserves, Inc. Inventory Appendix client: 8208A One Quail Place '18P.. Comp#: 803 WATER STORAGE TANK-REPLACE Quantity: (11) Raypak, 80-Gallon Location: Boiler enclosures Evaluation: All of these storage tanks were installed during 1999. They are in good condition with no rust or corrosion developing. Useful Life: 8 years Remaining Life: 7 years Best Case: $12,100.00 Worst Case: $16,500.00 $1,100/Tank; Estimate to replace, installed $1,500/Tank; Higher estimate Cost Source: ARI Cost Database tiF Comp#: 901 LAUNDRY MACHINES-REPLACE Quantity: (32)Washers, (32) Dryers Location: Laundry rooms at each recreation building Evaluation: The laundry machines are not owned by the property. No replacement funding required. I At Useful Life: -- : . Remaining Life: ' Best Case: Worst Case: Cost Source: L February 29,2000 Page 20 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 902 EXERCISE EQUIPMENT-REPLACE(A) Quantity: (3)Assorted Pieces Location: Recreation building adjacent to pool#4 Evaluation: This area has been vandalized and will be refurbished. This equipment consists of a treadmill, a bicycle,a weight bench,and several other small pieces. Some of this equipment is damaged. Replacement is recommended. Useful Life: 10 years Remaining Life: Photo Not Available 9 years • Best Case: $5,600.00 Worst Case: $7,000.00 Estimate for replacement pieces Higher estimate for more pieces or better quality Cost Source: ARI Cost Database Comp#: 902 EXERCISE EQUIPMENT-REPLACE(B) Quantity: (8) Nautilus Stations Location: Recreation building adjacent to pool#4 Evaluation: This equipment is still intact and looks functional,but it is outdated. Periodic replacement should be anticipated. i/i Useful Life: 20 years ~ 1 `f.` • , z•,H ` k .? Le Remaining Life: t 5 years I • ;� �. _ - Best Case: $20,000.00 Worst Case: $24,000.00 $2,500/Station; Estimate to replace $3,000/Station; Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 21 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place ' Comp#: 903 REC BLDG FURNITURE- REPLACE(#1) Quantity: (37)Assorted Pieces Location: Recreation building at pool area#1 Evaluation: The furniture in this building is in good condition. It looks relatively new. No wear or damage noted. hn • . -�- Useful Life: 10 years . Remaining Life: � IN l;, 9 years Q 4 • • S4.' Best Case: $13,000.00 Worst Case: $18,500.00 Estimate for replacement pieces Higher estimate for more pieces or better quality Cost Source: ARI Cost Database Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE `err. Quantity: (384) Kitchens Location: Unit interiors Evaluation: Most of the cabinetry is reportedly still original from 1985. The cabinetry is replaced mainly when a tenant moves out of the property. This component budgets to refurbish 1/25 of the kitchens annually. ti. J s i Useful Life: 1 years Remaining Life: 0 years • .' i -�" • i. _ • Best Case: $35,350.00 Worst Case: $46,100.00 $2,300/Kitchen; Estimate to replace cabinetry in $3,000/Kitchen; Higher estimate to refurbish 1/25 1/25 of the units Cost Source: ARI Cost Database Vissv February 29.2000 Page 22 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 905 SAUNA HEATERS-REPLACE Quantity: (4) Ultra Heaters Location: Sauna rooms at the pool#1 and#4 recreation buildings Evaluation: The heaters look aged and worn. They are likely still original from 1985. Life span will depend on the amount of use and abuse heaters receive. • Useful Life: 18 years Remaining Life: 3 years • Best Case: $3,200.00 Worst Case: $4,000.00 $800/Heater; Estimate to replace, installed $1,000/Heater; Higher estimate Cost Source:ARI Cost Database Comp#: 906 SAUNA ROOMS-REFURBISH Quantity: (4) Sauna Rooms Location: Recreation buildings at pool areas#1 and #4 Evaluation: Fair condition. Rooms inspected had no damage or noticeable abuse. There is no expectancy to replace or significantly refurbish these rooms. Treat any minor repairs as a maintenance issue. } t . Useful Life: • Remaining Life: '• _-- - Best Case: Worst Case: Cost Source: February 29,2000 Page 23 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place 'kw- Comp#: 908 WINDOW TREATMENTS-REPLACE Quantity: Numerous Windows Location: Unit interiors Evaluation: Conditions and styles of window coverings vary throughout. Blinds and drapes are replaced individually as needed. No capital funding required. r y� •fj(9w.f •i• Useful Life: •IR ' -r e} x - 'r 41 11 t .a-„..' 1 A" Remaining Life: - rr ,,p .1. - _., .iF try Y V 4,_. - i Best Case: Worst Case: Cost Source: *fts. Comp#: 909 BATHROOM-REFURBISH Quantity: (532) Bathrooms Location: Unit interiors Evaluation: The bathrooms vary in condition. Most are in fair shape. There is no expectancy to refurbish all bathrooms at the same time. This component budgets to refurbish 1/18 annually. . O4#' a / • Useful Life: V 1 ,� 1 years d Remaining Life: ` +- 0 years :,:..,_;;:i.war . . ,., -4- : . , �*, E -y� I. i r:. Best Case: $29,600.00 Worst Case: $41,400.00 $1,000/Bathroom; Estimate to refurbish 1/18 of the $1,400/Bathroom; Higher estimate to replace 1/18 total Cost Source: ARI Cost Database February 29,2000 Page 24 of 47 Association Reserves, Inc. Inventory Appendix , Client: 8208A One Quail Place Comp#: 910 REC BLDG KITCHEN-REMODEL "" Quantity: (1) Kitchen Location: Recreation building adjacent to pool#1 Evaluation: Remodeling includes replacement of the counters,cabinetry,flooring, and appliances. This area is older, but still in decent shape. It appears to receive minimal use. —.i --_ rig vs- ttaztimmemmt. Useful Life: - _ ? 20 years r Remaining Life: =/ r . p ,5 years . -• Best Case: $4,300.00 Worst Case: $6,000.00 Estimate to remodel kitchen Higher estimate Cost Source:ARI Cost Database Comp#: 910 RESTROOMS-REMODEL(#1,4) imioe Quantity: (4) Restrooms Location: Recreation building restrooms at pools#1 and#4 Evaluation: These restrooms are located inside the recreation buildings and are more difficult to access than at the other recreation areas. Still in fair condition. No significant wear or damage noted. 1 Useful Life: t' y. 18 years Remaining Life: 3 years : l Y „ * � . L _ „,.,:.„...:, „v. .. . .,....„. , ...., ,.:4,.,.:.,„_,....„,,.., _.,.}..„..„..,..,........,, ,,.; Best Case: $17,600.00 Worst Case: $23,200.00 $4,400/Restroom;Allowance to remodel $5,800/Restroom; Higher allowance Cost Source:ARI Cost Database voloil February 29,2000 Page 25 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Si"' Comp#: 910 RESTROOMS-REMODEL(#2,3) Quantity: (4) Restrooms Location: Recreation building restrooms at pools#2 and#3 Evaluation: These restrooms look aged and outdated. They appear to receive more use than the larger recreation area restrooms. Some of the toilet partitions do not lock and are developing rust. Useful Life: 12 years Remaining Life: L. 0 years _ Best Case: $9,200.00 Worst Case: $12,800.00 $2,300/Restroom; Allowance to remodel $3,200/Restroom; Higher allowance Cost Source: ARI Cost Database Comp#: 912 OFFICE EQUIPMENT-REPLACE Quantity: (7)Assorted Pieces Location: Recreation building at pool area#1 Evaluation: The equipment includes computers, printers, fax machines, and a small copy machine. Equipment looks relatively new and in good shape. Due to the frequent technological advances, periodic replacement should be anticipated. Useful Life: • 5 years Remaining Life: • ej 3 years71 x ` . • ik 11 mis V. Best Case: $4,100.00 Worst Case: $5,400.00 Estimate for replacement pieces Higher estimate for better quality or more pieces Cost Source: ARI Cost Database New February 29,2000 Page 26 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 920 REFRIGERATOR-REPLACE Quantity: (384) Refrigerators Location: Unit kitchens Evaluation: The refrigerators vary in age and condition. Anticipate replacing a portion of them annually. This component budgets to replace 1/12 annually. , .. ' ! • t Useful Life: 1 years F R Remaining Life: 0 years •ii ---""si 4 Best Case: $12,800.00 Worst Case: $24,000.00 $400/Refrigerator; Estimate to replace 1/12 of the $750/Refrigerator; Higher estimate to replace 1/12 total Cost Source:ARI Cost Database Comp#: 922 OVEN-REPLACE Quantity: (384)Ovens Location: Unit kitchens Evaluation: The ovens vary in age and condition. Anticipate replacing a portion of them annually. This component budgets to replace 1/12 annually. Useful Life: 1 years _ Remaining Life: 0 years Best Case: $11,200.00 Worst Case: $19,200.00 $350/Oven; Estimate to replace 1/12 of the total $600/Oven; Higher estimate to replace 1/12 Cost Source: ARI Cost Database February 29,2000 Page 27 of 47 • Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Sow Comp#: 923 DISHWASHER-REPLACE Quantity: (384) Dishwashers Location: Unit kitchens Evaluation: The dishwashers vary in age and condition. Anticipate replacing a portion of them annually. This component budgets to replace 1/12 annually. Useful Life: • ` • 1 years - ,..c' 1;.,64r- Remaining Life: f, 0 years • Best Case: $7,200.00 Worst Case: $12,000.00 $225/Dishwasher; Estimate to replace 1/12 of the $375/Dishwasher; Higher estimate to replace 1/12 total Cost Source: ARI Cost Database Comp#: 923 MICROWAVE-REPLACE Quantity: (384) Microwaves Location: Unit kitchens Evaluation: The microwaves vary in age and condition. Anticipate replacing a portion of them annually. This component budgets to replace 1/12 annually. • _ i f ?• I V5 4y •t•�. f Useful Life: _ = F _. Ai t; 1 years — Remaining Life: i r�"• - 0 years r L Best Case: $7,200.00 Worst Case: $12,000.00 $225/Microwave; Estimate to replace 1/12 of the $375/Microwave; Higher estimate to replace 1/12 total Cost Source: ARI Cost Database Now February 29,2000 Page 28 of 47 Association Reserves, Inc. Inventory Appendix . Client: 8208A One Quail Place Comp#: 1002 IRRIGATION/LANDSCAPE-REPAIR ""' Quantity: Numerous Pieces Location: Throughou common area Evaluation: Annual repair and/or replacement of valves,sprinklers, and backflows should be anticipated. Since these are ongoing issues, expenses should be addressed with operating funds. V 411 V )1 4 -:I i - 41r. .. Useful Life: --AP—. .._ „..-, �•► __ • Remaining Life: - ' -:"'�_ �" i i ti 1 Best Case: Worst Case: Cost Source: Comp#: 1003 IRRIGATION TIMERS- REPLACE Quantity: (7) Irritrol Timers Location: Attached to buildings 2, 8, 12,24, 33, 37, and 40 Evaluation: The irrigation timeclocks are reportedly still original. They look aged but are reportedly still in decent shape. Landscaper expects a longer than average life span, because the timers are repaired when they fail rather than replaced. i4 tk, o i Useful Life: �% 20 years �t •, Remaining Life: rt r1a; L. 3 years -- ;f•:..... - r 3e,,� -� �€i" 7-,,,„ 414 .. -4„,.. Best Case: $5,950.00 Worst Case: $7,350.00 $850/Timer; Estimate to replace, installed $1,050/Timer; Higher estimate Cost Source: Research with Local Vendor/Contractor 1 February 29,2000 Page 29 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place ,t• Comp#: 1101 DOORS-REPAINT Quantity: (810)Assorted Doors Location: Unit doors, storage doors, utility doors, and recreation building doors Evaluation: The doors include: (384) Unit doors, (384)Storage doors, (22) Utility doors,and (20) Recreation building doors. Surfaces are in good shape. Repainting is included with the wood surfaces under component#1116. I Useful Life: d►► 5f ' Remaining Life: 7. ;»;= , ...lip fl . 1 Best Case: Worst Case: Cost Source: '' Comp#: 1105 HANDBALL COURT- REPAINT Quantity: Approx 1,370 Sq Ft Location: Recreation area Evaluation: Poor condition. The painted court walls are chipped and cracked. The block lines are beginning to show through the paint. Repainting should be treated as a maintenance issue by the on-site staff. 4+r- .4, Useful Life: - : _:s ;. ' ‘Ti. -47. 4 ., Remaining Life: r • Best Case: Worst Case: Cost Source: February 29,2000 Page 30 of 47 Association Reserves, Inc. Inventory Appendix . Client: 8208A One Quail Place Comp#: 1106 COURT CHAIN LINK-REPAINT ""' Quantity: Approx 870 Linear Ft Location: Tennis courts and playground Evaluation: Painting was in progress at the time of inspection. Good condition. .'�` :I' • • �' ' VTR tis: Useful Life: .i , a 'i" "1.. - r,. 5 years v 1/ I p, f c;-may.;..• -•arc'',- }r T .. Remaining Life: rr' , 'sr ^': 4 years _ g y_ t► • • .:. .,v Best Case: $4,350.00 Worst Case: $5,250.00 $5.00/LF; Estimate to repaint $6.00/LF; Higher estimate Cost Source: ARI Cost Database Comp#: 1107 IRON FENCE/RAIL- REPAINT ki Quantity: Approx 5,800 Linear Ft Location: Pool perimeters,entry drives, stair rails, and roof ladders Evaluation: The paint is faded and dirty. There are areas of chipping and peeling. There is no significant rusting or corrosion. Paint regularly to inhibit rusting and to restore the appearance. Useful Life: 4 years Remaining Life: 0 years r" : . . Best Case: $20,300.00 Worst Case: $29,000.00 1 $3.50/LF; Estimate to repaint $5.00/LF; Includes additional surface prep A Cost Source: ARI Cost Database g 1 I 1 February 29,2000 Page 31 of 47 1 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Numerous Sq Ft Location: Units and recreation buildings Evaluation: The interior surfaces vary in condition. Some of the units were recently repainted and are in good shape. Repainting interior surfaces is addressed as a maintenance issue when needed. — z.: 8 Useful Life: Remaining Life: • =t• • Best Case: Worst Case: Cost Source: Comp#: 1114 SIGNAGE- REPAINT Quantity: (2) Monument, (16)Other Location: Property entrances and throughout common area Evaluation: The signs are getting dry and dirty. Some splitting wood observed, but no damage or rotting noted. Paint regularly to preserve the appearance and protect the wood. • Useful Life: . 1,vim UNITS5 years - - r - _�- • _ . Remaining Life: 4 years - .i` , ..S ' Best Case: $600.00 Worst Case: $700.00 Estimate to repaint Higher estimate Cost Source: ARI Cost Database a.► February 29.2000 Page 32 of 47 Association Reserves, Inc. Inventory Appendix • Client: 8208A One Quail Place Comp#: 1115 STUCCO-REPAINT Quantity: Approx 261,700 Sq Ft Location: Exterior building surfaces Evaluation: The stucco surfaces were repainted during 1999. Surfaces are generally clean and in good condition. ,`_ !0 . _ .. may':I Useful Life: u % `, A. ' •? :ti • - 10 years • • Remaining Life: 1 R • ., 9 years let ill iiip Best Case: $117,800.00 Worst Case: $172,800.00 $0.45/Sq Ft; Estimate to repaint $450/Unit; Higher estimate Cost Source: Client Cost History Comp#: 1116 WOOD SURFACES-REPAINT Quantity: Approx 195,515 Sq Ft vied Location: Building trim, wood fencing, and assorted doors Evaluation: The wood was repainted during 1999 with the stucco surfaces. The garage (adjacent to Maintenance bldg)was not, but it should be painted as a maintenance issue and included in future projects. • fir *- k '-'8‘ *C7iffikluktit i...----- di— Useful Life: 5 years '= ;=, t¢ l ,. s Remaining Life: ice. :,r+. 4 years ., x r "'e. a ° A .. ' ,..,...-- . Jr.- :, -7. Best Case: $48,000.00 Worst Case: $57,600.00 $125/Unit; Estimate to repaint $150/Unit; Higher estimate Cost Source:Client Cost History I I. February 29,2000 Page 33 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1117 WOOD SURFACES-REPAIR Quantity: Approx 195,515 Sq Ft Location: Building exterior surfaces Evaluation: The wood is in good shape overall. Some of it is aged and worn. Periodic repair and replacement of rotted or damaged wood should be anticipated and coordinated with future painting projects. "rfr": - 4 Useful Life: Ch' 5 years Remaining Life: t ,, :- 4 years r a "' Best Case: $24,450.00 Worst Case: $29,350.00 $2.50/Sq Ft; Estimate to replace 5%of the wood $3.00/Sq Ft; Higher estimate to replace 5% Cost Source: ARI Cost Database `_ Comp#: 1118 PARKING SPACES- RESTRIPE Quantity: Numerous Spaces Location: Carports and driveways throughout development Evaluation: The asphalt parking spaces will be restriped periodically in conjunction with either resurfacing or slurry sealing. The concrete parking spaces will be restriped as needed by the on-site maintenance staff. MUIR II. Useful Life: jr., Remaining Life: 4. ,4 "- ; �; ,� r *; r4 .,. • Best Case: Worst Case: Cost Source: February 29,2000 Page 34 of 47 Association Reserves, Inc. Inventory Appendix . Client: 8208A One Quail Place Comp#: 1202 POOL-RESURFACE Quantity: (4) Large Pools Location: Pool/spa areas#1,2, 3, and 4 Evaluation: Overall fair condition. All of the pool surfaces have rough surfaces. Staining and chipping also noted. Pool service suggests that resurfacing is not a priority right now, but does recommend resurfacing all at the same time. Useful Life: 10 years Remaining Life: _ 2 years (. . ;'. Best Case: $19,900.00 Worst Case: $24,900.00 Estimate to replaster and retile Higher estimate for more labor and materials cost Cost Source:ARI Cost Database Comp#: 1203 SPA-RESURFACE Quantity: (4)Spas, approx 10'dia Location: Pool/spa areas#1,2, 3,and 4 Evaluation: All of the spa surfaces are in poor condition. They are rough and stained. Spa surfaces typically do not last as long as pool surfaces due to the increased heat and chemical levels. ii - i Useful Life: _ 7 years • Remaining Life: 0 years 4 f =4 p , Best Case: $6,400.00 Worst Case: $8,000.00 $1,600/Spa; Estimate to replaster and retile $2,000/Spa; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 35 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place ~` Comp#: 1207 POOL FILTER-REPLACE(#1,3,4) Quantity: (4) Purex, 60 Sq Ft Location: #1, 3,and 4 pool/spa equipment areas Evaluation: All four of these filters were installed around 1994. They are still in overall fair condition but have an aged appearance. Some even have rusting and peeling paint. Useful Life: . P . '' 12 years , Pr- Remaining Life: r- _ ` µ 6 years % e I 4 Best Case: $3,600.00 Worst Case: $4,400.00 $900/Filter; Estimate to replace, installed $1,100/Filter; Higher estimate Cost Source: Research with Local Vendor/Contractor "wow Comp#: 1207 POOL FILTER- REPLACE(#2) Quantity: (1) Purex, 72 Sq Ft Location: #2 pool/spa equipment area Evaluation: This filter appears to still be original. It has surface rusting and signs of prior water leaks. Still functional, but replacement should be anticipated in the near future. 0 ,,, Useful Life: - 12 years4 _.. km ,. }; Remaining Life: • _ •_ k-' •1 years • 'I. g, t Best Case: $900.00 Worst Case: $1,100.00 $900/Filter; Estimate to replace, installed $1,100/Filter; Higher estimate Cost Source: Research with Local Vendor/Contractor February 29,2000 Page 36 of 47 Association Reserves, Inc. Inventory Appendix • Client: 8208A One Quail Place Comp#: 1207 SPA FILTER- REPLACE(#1,3) Quantity: (2) Purex, 36 Sq Ft Location: #1 and 3 pool/spa equipment areas Evaluation: These filters are old and likely original. Rusting and corrosion noted on the filter tanks. Replacement should be anticipated in the near future. Useful Life: • 0 ;t; 10 years " k' ; ,' t `` •Remaining Life: 1) ^• i, .. ,i.7 0 years t lr i. 1�. . ... i 'Y Best Case: $1,300.00 Worst Case: $1,700.00 $650/Filter; Estimate to replace, installed $850/Filter; Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 1207 SPA FILTER- REPLACE(#2,4) Quantity: (2) Purex, 36&48 Sq Ft Location: #2 and 4 pool/spa equipment areas Evaluation: Both filters were installed around 1994. Surfaces are already faded and have surface rust. Fair condition. i ice„ Useful Life: 10 years I • f Remaining Life: 0,00.0.0001 4 years -i'- • ' :';: it �: P4..,,I-2 ayI • r ••• :::24 -,...,,.. 4,.:-.., _ .._Y r, _ - - ,• ^ ?, , .. s Best Case: $1,300.00 Worst Case: $1,700.00 $650/Filter; Estimate to replace, installed $850/Filter; Higher estimate Cost Source: Research with Local Vendor/Contractor 3 • February 29,2000 Page 37 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place ..„' Comp#: 1208 POOL HEATER-REPLACE(#1) Quantity: (1) Raypak,333600 BTU Location: #1 pool/spa equipment area Evaluation: This heater was replaced during 1996. It already looks somewhat worn with interior rust and scale. Still in fair condition overall. Useful Life: 1111 -4-- _ I ' i3. 4 10 years It.; t• `-7" - . . . .ir: . . . =` 1.%� ' Remaining Life: " � . � �. r! 1 6 ears 4 1 • I. ' 'i _.m . Best Case: $1,800.00 Worst Case: $2,200.00 $1,800/Heater; Estimate to replace, installed $2,200/Heater; Higher estimate Cost Source: Research with Local Vendor/Contractor "%ow Comp#: 1208 POOL HEATER- REPLACE(#2,3,4) Quantity: (3)Teledyne, 325000 BTU Location: #2, 3, and 4 pool/spa equipment areas Evaluation: All three of these heaters are still original from 1985. Rusting and corrosion noted. They have already lasted beyond the typical life span. Overall poor conditions reported and observed. 1.. 1 4 Useful Life: * . - i 10 years 'i I 1 Remaining Life: . : ! 'za-;.1-,-*:-.11t4-71- ---;---- • 0years V. a, ' ti Y•:,..-1-',-;;- Z. i t fr r�i"n f. Best Case: $5,400.00f Worst Case: $6,600.00 $1,800/Heater; Estimate to replace, installed $2,200/Heater; Higher estimate Cost Source: Research with Local Vendor/Contractor *11100 February 29,2000 Page 38 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1208 SPA HEATER-REPLACE(#1,3,4) al Quantity: (3)Teledyne,250000 BTU Location: #1,3, and 4 pool/spa equipment areas Evaluation: These three spa heaters are original from 1985. Still functional,but looking aged and worn. Replacement should be anticipated in the near future. Tli. • ....i..... t...... r A 7 tj 1 ` F' ., • Useful Life: — - f N , al%. 10 years r- Remaining Life: - �^ ,. 0 years ' . ,. u :r l rif, 1141 `�-ram�;.w�� •�: ji _ .�,s Best Case: $4,200.00 Worst Case: $5,400.00 $1,400/Heater; Estimate to replace, installed $1,800/Heater; Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 1208 SPA HEATER-REPLACE(#2) ' Quantity: (1) Raypak, 264100 BTU Location: #2 pool/spa equipment area Evaluation: This heater was installed in 1998. Surfaces are generally clean with no rusting observed. Good condition. Useful Life: -^. `� � ,,: I10 years ' \` . Y a I-#Remaining Life: ..- � •�, 8 years 1 it �' R v 0 - - ...- •\ \ tr{ii Best Case: $1,400.00 Worst Case: $1,800.00 $1,400/Heater; Estimate to replace, installed $1,800/Heater; Higher estimate Cost Source: Research with Local Vendor/Contractor February 29,2000 Page 39 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1210 POOL/SPA PUMP- REPLACE Quantity: (14) Brass Pumps Location: #1,2, 3,and 4 pool/spa equipment areas Evaluation: Brass pumps typically have long and unpredictable life spans. This makes them inappropriate for Reserve funding. Address repairs, replacements, and motor replacements individually as needed with operating funds. 4 . ;i Useful Life: 1f•t .w.� v-:• °. .1 . '- i ' Remaining Life: g , - d- t r• •.t t,t f. =-K • • • ry. t y Best Case: Worst Case: Cost Source: Comp#: 1210 POOLJSPA PUMP- REPLACE(#1,4) Quantity: (2) Purex WhisperFlo Location: #1 and 4 pool/spa equipment areas Evaluation: The WhisperFlo pumps are made of plastic and will typically last around 10 years. Both of these pumps were installed during 1998 and are in good condition. is. r ti. .. _ ` Useful Life: ,, ," 10 years x < ' •;" Remaining Life: �• '+ ` �; %: ` 8 years ' ' Y s• '` ...,:.:::4L14.7....,:i T Best Case: $1,400.00 Worst Case: $1,700.00 $700/Pump; Estimate to replace, installed $850/Pump; Higher estimate Cost Source: Research with Local Vendor/Contractor February 29,2000 Page 40 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1301 CARPORT ROOF-REPLACE Quantity: Approx 74,200 Sq Ft Location: Carport roofs Evaluation: The carports have flat, asphalt/gravel roofs. They are reportedly still original. Based on age, they should be replaced, but there are no problems at this time. Some rotted sheeting reported. Replacement should be anticipated in the near future. • ire?a�rZ� Useful Life: „ $•�#" =^ .u, •"‘ 15 years - Remaining Life: AI 4.. r�E • .ti • E-zf. 2years r , 2.� A*r • �1. r , • l + ! ; • Best Case: $148,400.00 Worst Case: $185,500.00 $2.00/Sq Ft; Estimate to reroof $2.50/Sq Ft; Higher estimate Cost Source: ARI Cost Database Comp#: 1302 FLAT ROOF- REPLACE(A) Quantity: Approx 55,870 Sq Ft Location: Unit roofs Evaluation: These roofs were reportedly replaced around 1993. Fair condition. No soft spots or bubbling tar noted. Unit buildings include#'s 2, 3, 8-12,24, 25, and 33. Useful Life: 12 years ` Remaining Life: Er' 5 years ` .. • Best Case: $195,550.00 Worst Case: $237,450.00 $3.50/Sq Ft; Estimate to reroof $4.25/Sq Ft; Higher estimate Cost Source: Client Cost History February 29,2000 Page 41 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place `` Comp#: 1302 FLAT ROOF-REPLACE(B) Quantity: Approx 137,540 Sq Ft Location: Unit roofs, storage bldg#20, maintenance bldg#36 and garage roofs Evaluation: These roofs were replaced in early to mid 1999. Good conditions observed. No soft spots or ponding water noted. Unit buildings include#'s 4-7, 13-19, 21-23,27,29-32,34, 35, 37,and 39-43. \i • Useful Life: •s_ - —. 12 years _,;,F- -- - r ifirlir ►__ ,.. �.� 1r_ '•_-`srs x .i- 11 Remaining Life: -e. � � w t!". tr :.- . .t-='i'�7t-- •- F, Lam. rt .�i .•5 - ---• --A7,1"):'-'"7.):-4;7;-:,V4,4‘tI-• --.7.4.4-'7, 1;:,t4:*-.• ;kflt-''' Ilttliz. :` ,`ice M7 •`t '1-.'..., ', Best Case: $481,400.00 Worst Case: $585,200.00 $3.50/Sq Ft; Estimate to reroof $4.25/Sq Ft; Higher estimate Cost Source: Client Cost History '`r' Comp#: 1304 TILE ROOF-REPAIR Quantity: Approx 50,165 Sq Ft Location: Rooftop of recreation buildings and mansard areas of unit buildings Evaluation: The tile roofs are still original and in good shape. No problems reported at this time. There are several cracked tiles because of the painters. There is no expectancy to completely replace this type of roofing, but repairs should be anticipated. y� r, h-� . L '' a, L V .M ll Useful Life: 'y''►,r• I' ki I • 20 years \ - " 7- t •skii4np,14 Ir.. .i .-1 Remaining Life: tip, ` .4 :. 5years ,\ ,;?...,•, iIf;.� �`. L .- . ...�i:ii�tiN._ •i.T Best Case: $50,200.00 Worst Case: $62,700.00 $4.00/Sq Ft; Estimate to repair 25%of the total area $5.00/Sq Ft; Higher estimate to repair 25% Cost Source: ARI Cost Database February 29,2000 Page 42 of 47 Association Reserves, Inc. Inventory Appendix, Client: 8208A One Quail Place Comp#: 1402 SIGNAGE-REPLACE Quantity: (2) Monument, (16)Other Location: Property entrances and throughout common area Evaluation: Signs are assumed to be original from 1985. They are still structurally sound although the wood has begun to crack. Repaint regularly to restore the appearance and to preserve the wood. Replacement anticipated in early 2000. I . O -i) ft. Useful Life: , L 'ils . 20 years • M., r ; /.e"�, qr Remaining Life: 11r, r.°« -- 19 years • • •;f. • , Best Case: $16,800.00 Worst Case: $21,000.00 Estimate to replace, installed Higher estimate Cost Source: ARI Cost Database Comp#: 1604 TENNIS COURTS- RESURFACE Quantity: (3)Courts,(1) Playground Location: Recreation area Evaluation: The courts and playground were resurfaced in June 1999. Surfaces are in good condition. Some minor fading and water ponding observed. , ' ; .fir` . • ?apt• . .J • _ ! Useful Life: 5 years Remaining Life: "-- - 4 years ..�_. r Best Case: $6,500.00 Worst Case: $8,850.00 Estimate to resurface Higher estimate Cost Source: Client Cost History February 29.2000 Page 43 of 47 • Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place Comp#: 1606 BASKETBALL EQP-REPLACE Quantity: (2) Backboards Location: Recreation area Evaluation: The backboards are structurally sound and in good condition. There is not a lot rusting. Some fading noted,but no damage observed. Life span is dependent on the level of use and abuse. Useful Life: Op , �ti •+ 8 years _ Remaining Life: 5 years 9 i i Best Case: $1,200.00 Worst Case: $1,600.00 $600/Each; Estimate to replace, installed $800/Each; Higher estimate Cost Source:ARI Cost Database `*41. Comp#: 1607 BASKETBALL COURT-RESURFACE Quantity: (1) Court, 90x50 Location: Recreation area Evaluation: The basketball court is a concrete surface with painted stripes. No expectancy to replace or resurface. Restripe as a maintenance issue. No Reserve funding required. 'ram 7 Useful Life: # � - : � 7- Remaining Life: - ;> .- - j. kts 1^.' c^ 4nc.d'1.� .i.Y TJ 4" 4444510, Best Case: Worst Case: Cost Source: February 29,2000 Page 44 of 47 Association Reserves, Inc. Inventory Appendix, Client: 8208A One Quail Place Comp#: 1608 HANDBALL COURTS-RESURFACE Quantity: (2) Handball Courts Location: Recreation area Evaluation: The handball courts are concrete and do not have a decking topcoat,so resurfacing is not an issue. Minor cracking and pitting noted. There is no expectancy to replace or resurface. Useful Life: _ w f vp.� Remaining Life: *. `,.- •�. ti. yr Best Case: Worst Case: Cost Source: Comp#: 1609 VOLLEYBALL COURTS-REPLACE Quantity: (2) Sand Courts Location: Recreation area Evaluation: Both courts are filled with sand. Sand appears to be getting thin in spots. No expectancy to replace the sand, but expect to periodically add more sand to the courts. Suggest treating this as an operating expense. 0 y • • • Useful Life: • -- •111 Remaining Life: 0 ''q, xJ5r +„ ;:i '€ r ♦ > if SW"- BestCase: Worst Case: Cost Source: February 29,2000 Page 45 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place 'tow Comp#: 1703 STREAM BEDS-REPAIR Quantity: Numerous Sq Ft Location: Throughout common area Evaluation: The stream beds are concrete. Many areas reportedly have extensive cracking due to tree roots. There is no expectancy to completely replace the concrete. Periodic patching and repairs should be anticipated. Useful Life: • 3 years ' Remaining Life:. -#" • 1 years • t - ... •Jam` ..'. -. ...or :�'; ' S Ai. Best Case: $4,500.00 Worst Case: $5,500.00 Allowance for patching and repairs Higher allowance for more repairs Cost Source: Research with Local Vendor/Contractor '4,1s. Comp#: 1704 STREAM PUMPS- REPLACE Quantity: 50%of(13) Pumps Location: Underground vaults throughout property Evaluation: No access to inspect the pumps. Conditions and ages vary throughout. The stream servicer suggests budgeting to replace half of the pumps every two years. • Useful Life: , a..see ' •-_ -' . • - 2 years Remaining Life: ' •- ' .• - 0 years = j .s;y; i-, �' � L t '• ►, •• Best Case: $13,200.00 Worst Case: $16,800.00 $2,200/Pump;Allowance to replace(6)pumps $2,800/Pump; Higher allowance to replace(6) pumps Cost Source: Research with Local Vendor/Contractor 'Vie. February 29,2000 Page 46 of 47 Association Reserves, Inc. Inventory Appendix Client: 8208A One Quail Place (1) Comp#: 1810 GOLF CARTS-REPLACE Quantity: (3)Carts Location: Maintenance building#36 Evaluation: Five carts exist,only one is functional. In the future, only fund for three (2 for maint, 1 for office). Used carts should be readily available in this area and at a reduced price. Replacement cost assumes the purchase of used carts. 1 tt , � :•, 1; x ` • Useful Life: • 8 years 1 Remaining Life: 0 years Best Case: $6,000.00 Worst Case: $7,800.00 $2,000/Cart; Estimate to replace $2,600/Cart; Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 47 of 47 Corporate Office filiRLSSOCIATIOI�I Local Offices P.O. Box 8637 ` ,F c Phoenix,AZ Calabasas, CA 91372 ESER Y ES, INC.C. San Francisco,CA TEL 800/733-1365 Denver,CO FAX 800/733-1581 Honolulu,HI www.ReserveStudy.com Reserve Studies for Community Associations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN© , . , f ,A , 4 .. . - , - -- '. _ _________ . . ... _ . .i....„,,,..., ... . r .'" % - r;.71" . I - t .1n may, " _ I a.. ,. , 7,-,, ,� , -,r. ' Pueblos Apartments Palm Desert, CA For the Period From: January 1, 2000 Through: December 31, 2000 Report# 8207-0 Date Prepared: February 29, 2000 TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix 4�� CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY Report #: 8207-0 Property Name: Pueblos Apartments Report Period: 01/01/2000 through 12/31/2000 Recommended Fund Balance: $137,531 Recommended Capital Contribution: $1,200/month The Pueblos Apartments is a small 15-unit development. It consists of two residential buildings and a pool area. There is one small room attached to the large building used as a laundry facility. Each unit is a studio with air conditioning, central heating, and kitchen appliances. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled as an ongoing maintenance issue (light fixtures, ceiling fans, window treatments, replacement of a simple irrigation timeclock, and painting of all interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. You should note that our recommended Capital contribution of $1,200 per month during Fiscal 2000 presumes a starting Reserve Cash Balance of $137,531 as of January 1, 2000. It also presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual increases in your contributions will be required to help offset inflationary pressures on future expenditures. Association Reserves, Inc. Executive Summary© 8207-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Pueblos Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 205 CONCRETE DRIVE - REPAIR 20 11 $11,150 $15,434 303 HEAT PUMPS - REPLACE 15 6 $49,500 $59,106 324 EXTERIOR LIGHTS - REPLACE 15 6 $2,050 $2,448 403 MAILBOXES - REPLACE 15 6 $675 $806 404 POOL FURNITURE - REPLACE 6 2 $1,425 $1,512 503 POOL FENCE - REPLACE 20 11 $2,450 $3,391 601 CARPET- REPLACE 6 0 $5,710 $6,818 602 LINOLEUM FLOOR - REPLACE 10 0 $1,716 $2,306 702 UTILITY DOORS - REPLACE 15 5 $2,275 $2,637 803 WATER HEATERS - REPLACE 10 2 $6,800 $7,214 904 KITCHEN COUNTER/CABINET- REPLA 25 6 $24,000 $28,657 909 BATHROOMS - REFURBISH 18 3 $18,000 $19,669 920 REFRIGERATORS - REPLACE 12 3 $8,625 $9,425 922 OVENS - REPLACE 12 3 $7,125 $7,786 925 TRASH COMPACTORS - REPLACE 12 3 $7,125 $7,786 1107 POOL FENCE - REPAINT (iron) 5 0 $250 $290 1115 STUCCO - REPAINT 10 0 $12,100 $16,261 1116 WOOD SURFACES - REPAINT 5 0 $2,075 $2,405 1117 CARPORT WOOD - REPAINT 10 0 $950 $1,277 1202 POOL- RESURFACE 12 3 $3,400 $3,715 1207 POOL FILTER - REPLACE 12 5 $1,000 $1,159 1208 POOL HEATER - REPLACE 10 4 $2,000 $2,251 1210 POOL PUMP - REPLACE 10 2 $800 $849 1301 CARPORT ROOF - REPLACE 12 3 $3,025 $3,305 1301 FLAT ROOF - REPLACE 12 3 $8,625 $9,425 1304 TILE ROOF - REPAIR 20 11 $10,525 $14,569 1808 TREE TRIMMING - PERIODIC 4 2 $1,050 $1,114 27 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY INTRODUCTION The property described in this report is a small development consisting of two single story buildings. It was reportedly constructed in 1991, and since then, there have been no capital replacement projects. This development includes residential facilities, a small pool area, and covered parking. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the development. Soy Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of a property. This document is intended to provide a clear and independent review of the status of the development, projecting upcoming expenses for internal and external disclosure purposes. Association Reserves, Inc. 1 Capital Replacement Plan • OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and investigating the history of any precedents that have been set, then performing an on-site inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined -• for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with the history and operating practices of the building. These included: management and the pool service company. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. `glor Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS The Pueblos Apartments is a small 15-unit development. It consists of two residential buildings and a pool area. There is one small room attached to the large building used as a laundry facility. Each unit is a studio with air conditioning, central heating, and kitchen appliances. At the time of our inspection on 12/9/1999, the property is nearing nine years of age and no capital projects had been completed to date. The exterior fencing, stucco, and wood surfaces need repairs and paint. Although conditions vary somewhat between the units, the interior flooring (carpet and linoleum) needs replacement. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled as an ongoing maintenance issue (light fixtures, ceiling fans, window treatments, replacement of a simple irrigation timeclock, and painting of all interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. You should note that our recommended Capital contribution of$1,200 per month during Fiscal 2000 presumes a starting Reserve Cash Balance of $137,531 as of January 1, 2000. It also presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual increases in your contributions will be required to help offset inflationary pressures on future expenditures. The expenditures for future years can be summarized as follows: First five years: $96,852 Five to ten years: $107,385 Ten - 15 years: $83,521 15 - 20 years: $75,869 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. Association Reserves, Inc. 4 Capital Replacement Plan I O ^ � W (1) N CC Q� N D Q O N I— W 0 u) t\ \ . \\\ \ \\ \\- '*\ * '' ca � N z 1yy W - 1nCC OU) r�\ \ T W . rlt- \\ N X W .4 -, �\\ \ 0 W o , N W N Q��\V o W > OC S. v. \\\ A 8 1 1 1 1 1 1 1 O O O O O 0 0 0 O O O O O O O O N 0 c0 C0 dt N fa T Tn. �rn�. d y, ta LT7 VJ f__ (spuesnoq ) Si vial_ 1Vfl N NV 8207-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Pueblos Apartments Useful Rem. Life Lite Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 205 CONCRETE DRIVE-REPAIR Approx 6,360 Sq Ft 20 11 $9,550 $12,750 303 HEAT PUMPS-REPLACE (15) Rheem Units 15 6 $42,000 $57,000 324 EXTERIOR LIGHTS-REPLACE (29) Light Fixtures 15 6 $1,750 $2,350 403 MAILBOXES-REPLACE (15)Aluminum Boxes 15 6 $600 $750 404 POOL FURNITURE-REPLACE (11)Assorted Pieces 6 2 $1,200 $1,650 503 POOL FENCE-REPLACE Approx 120 Linear Ft 20 11 $2,100 $2,800 601 CARPET-REPLACE Approx 570 Sq Yds 6 0 $5,150 $6,270 602 LINOLEUM FLOOR-REPLACE Approx 132 Sq Yds 10 0 $1,584 $1,848 702 UTILITY DOORS-REPLACE (15)Wood Doors 15 5 $1,900 $2,650 803 WATER HEATERS-REPLACE (16)American,40-Gallon 10 2 $5,600 $8.000 904 KITCHEN COUNTER/CABINET-REPLAC (15) Kitchens 25 6 $21,000 $27,000 909 BATHROOMS-REFURBISH (15) Bathrooms 18 3 $15,000 $21,000 920 REFRIGERATORS-REPLACE (15)White-Westinghouse 12 3 $6,000 $11,250 922 OVENS-REPLACE (15)White-Westinghouse 12 3 $5,250 $9,000 925 TRASH COMPACTORS-REPLACE (15)White-Westinghouse 12 3 $5,250 $9,000 1107 POOL FENCE-REPAINT(iron) Approx 54 Linear Ft 5 0 $200 $300 1115 STUCCO-REPAINT Approx 20,130 Sq Ft 10 0 $10,100 $14,100 1116 WOOD SURFACES-REPAINT Doors&Trim 5 0 $1,800 $2,350 1117 CARPORT WOOD-REPAINT Approx 1,560 Sq Ft 10 0 $800 $1,100 1202 POOL-RESURFACE (1) Pool,approx 75 LF 12 3 $3,000 $3,800 1207 POOL FILTER-REPLACE (1)Sta-Rite Fitter 12 5 $900 $1,100 1208 POOL HEATER-REPLACE (1) Raypak,333000 BTU 10 4 $1,800 $2,200 1210 POOL PUMP-REPLACE (1) Pump 10 2 $700 $900 1301 CARPORT ROOF-REPLACE Approx 1,560 Sq Ft 12 3 $2,750 $3,300 1301 FLAT ROOF-REPLACE Approx 3,920 Sq Ft 12 3 $7,450 $9,800 1304 TILE ROOF-REPAIR Approx 9,335 Sq Ft 20 11 $9,350 $11,700 1808 TREE TRIMMING-PERIODIC Several Large Trees 4 2 $900 $1,200 1 27 COMPONENTS REQUIRING FUNDING 4 4 a x ASSOCIATION RESERVES,INC. PAGE 6 1 t 8207-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 IP Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $137,531 $133,185 $152,294 $161,584 $120,433 $138,265 $152,827 Annual Contribution $14,400 $14,832 $15,277 $15,735 $16,207 $16,694 $17,194 Interest Earnings $4,055 $4,277 $4,702 $4,225 $3,875 $4,361 $3,403 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $155,986 $152,294 $172,273 $181,544 $140,516 $159,319 $173,425 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 $59,106 324 EXTERIOR LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $2,448 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $806 404 POOL FURNITURE-REPLACE $0 $0 $1,512 $0 $0 $0 $0 503 POOL FENCE-REPLACE $0 $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $5,710 $0 $0 $0 $0 $0 $6,818 602 LINOLEUM FLOOR-REPLACE $1,716 $0 $0 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $2,637 $0 803 WATER HEATERS-REPLACE $0 $0 $7,214 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 $28,657 909 BATHROOMS-REFURBISH $0 $0 $0 $19,669 $0 $0 $0 920 REFRIGERATORS-REPLACE $0 $0 $0 $9,425 $0 $0 $0 922 OVENS-REPLACE $0 $0 $0 $7,786 $0 $0 $0 925 TRASH COMPACTORS-REPLACE $0 $0 $0 $7,786 $0 $0 $0 1107 POOL FENCE-REPAINT(iron) $250 $0 $0 $0 $0 $290 $0 1115 STUCCO-REPAINT $12,100 $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $2,075 $0 $0 $0 $0 $2,405 $0 1117 CARPORT WOOD-REPAINT $950 $0 $0 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $3,715 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $1,159 $0 thy 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $2,251 $0 $0 1210 POOL PUMP-REPLACE $0 $0 $849 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $0 $3,305 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $9,425 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 $0 1808 TREE TRIMMING-PERIODIC $0 $0 $1,114 $0 $0 $0 $1,254 Total Expenditures $22,801 $0 $10,689 $61,111 $2,251 $6,492 $99,088 ASSOCIATION RESERVES, INC. PAGE 7 8207-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $74,336 $94,577 $114,140 $136,686 $135,739 $126,201 Annual Contribution $17,710 $18,241 $18,789 $19,352 $19,933 $20,531 Interest Earnings $2,530 $3,127 $3,757 $4,081 $3,924 $3,862 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $94,577 $115,945 $136,686 $160,119 $159,596 $150,595 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $15,434 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 324 EXTERIOR LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $1,805 $0 $0 $0 $0 503 POOL FENCE-REPLACE $0 $0 $0 $0 $3,391 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $8,141 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $2,306 $0 $0 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE $0 $0 $0 $0 $0 $9,695 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $0 $0 $0 $0 $0 $0 922 OVENS-REPLACE $0 $0 $0 $0 $0 $0 925 TRASH COMPACTORS-REPLACE $0 $0 $0 $0 $0 $0 1107 POOL FENCE-REPAINT(iron) $0 $0 $0 $336 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $16,261 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $2,789 $0 $0 1117 CARPORT WOOD-REPAINT $0 $0 $0 $1,277 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1210 POOL PUMP-REPLACE $0 $0 $0 $0 $0 $1,141 1301 CARPORT ROOF-REPLACE $0 -$0 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $14,569 $0 1808 TREE TRIMMING-PERIODIC $0 $0 $0 $1,411 $0 $0 Total Expenditures $0 $} $0 $24,380 $33,395 $18,977 ASSOCIATION RESERVES,INC. PAGE 8 8207-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $131,618 $157,089 $177,108 $141,609 $169,319 $196,836 Annual Contribution $21,147 $21,781 $22,435 $23,052 $23,686 $24,337 Interest Earnings $4,325 $5,006 $4,774 $4,658 $5,485 $6,182 Supplemental Capital Contrilos. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $157,089 $183,877 $204,317 $169,319 $198,489 $227,355 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 324 EXTERIOR LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITUFsE-REPLACE $0 $2,155 $0 $0 $0 $0 503 POOL FENCE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $9,721 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $0 $0 $13,437 $0 $0 $0 922 OVENS-REPLACE $0 $0 $11,101 $0 $0 $0 925 TRASH COMPACTORS-REPLACE $0 $0 $11,101 $0 $0 $0 1107 POOL FENCE-REPAINT(iron) $0 $0 $389 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $3,233 $0 $0 $0 1117 CARPORT WOOD-REPAINT $0 $0 • $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $5,297 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $1,653 $0 1208 POOL HEATER-REPLACE $0 $3,025 $0 $0 $0 $0 1210 POOL PUMP-REPLACE $0 $0 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $4,713 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $13,437 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1808 TREE TRIMMING-PERIODIC $0 $1,588 $0 $0 $0 $1,788 Total Expenditures $0 $6,769 $62,708 $0 $1,653 $11,508 ASSOCIATION RESERVES, INC. PAGE 9 8207-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $215,847 $247,799 $243,298 $144,875 $159,994 $193,157 Annual Contribution $25,006 $25,694 $26,400 $27,126 $27,872 $28,639 Interest Earnings $6,945 $7,357 $5,815 $4,567 $5,290 $6,072 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $247,799 $280,849 $275,514 $176,568 $193,157 $227,868 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $92,085 $0 $0 $0 324 EXTERIOR LIGHTS-REPLACE $0 $0 $3,814 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $1,256 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $2,574 $0 $0 $0 $0 503 POOL FENCE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $11,607 602 LINOLEUM FLOOR-REPLACE $0 $3,099 $0 $0 $0 $0 702 UTILITY DOORS-REPLACE $0 $4,109 $0 $0 $0 $0 803 WATER HEATERS-REPLACE $0 $0 $0 $13,030 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $33,485 $0 $0 $0 920 REFRIGERATORS-REPLACE $0 $0 $0 $0 $0 $0 922 OVENS-REPLACE $0 $0 $0 $0 $0 $0 925 TRASH COMPACTORS-REPLACE $0 $0 $0 $0 $0 $0 1107 POOL FENCE-REPAINT(iron) $0 $452 $0 $0 $0 $0 1115 STUCCO-REPAINT $0 $21,854 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $3,748 $0 $0 $0 $0 1117 CARPORT WOOD-REPAINT $0 $1,716 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 • 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $4,066 1210 POOL PUMP-REPLACE $0 $0 $0 $1,533 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1808 TREE TRIMMING-PERIODIC $0 $0 $0 $2,012 $0 $0 Total Expenditures $0 $37,551 $130,639 $16,574 $0 $15,673 ASSOCIATION RESERVES,INC. PAGE 10 8207-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $212,195 $243,581 $276,267 $230,686 $270,109 $309,231 Annual Contribution $29,427 $30,236 $31,067 $31,922 $32,799 $33,701 Interest Earnings $6,828 $7,787 $7,594 $7,502 $8,679 $9,038 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $248,449 $281,604 $314,928 $270,109 $311,587 $351,970 # Expenditures 205 CONCRETE DRIVE-REPAIR $0 $0 $0 $0 $0 $0 303 HEAT PUMPS-REPLACE $0 $0 $0 $0 $0 $0 324 EXTERIOR LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 404 POOL FURNITURE-REPLACE $0 $3,073 $0 $0 $0 $0 503 POOL FENCE-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $13,860 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $4,165 702 UTILITY DOORS-REPLACE $0 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATORS-REPLACE $0 $0 $19,159 $0 $0 $0 922 OVENS-REPLACE $0 $0 $15,827 $0 $0 $0 925 TRASH COMPACTORS-REPLACE $0 $0 $15,827 $0 $0 $0 1107 POOL FENCE-REPAINT(iron) $523 $0 $0 $0 $0 $607 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $29,370 1116 WOOD SURFACES-REPAINT $4,345 $0 $0 $0 $0 $5,037 1117 CARPORT WOOD-REPAINT $0 $0 $0 $0 $0 $2,306 1202 POOL-RESURFACE $0 $0 $7,552 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $2,357 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1210 POOL PUMP-REPLACE $0 $0 $0 $0 $0 $0 1301 CARPORT ROOF-REPLACE $0 $0 $6,719 $0 $0 $0 1301 FLAT ROOF-REPLACE $0 $0 $19,159 $0 $0 $0 1304 TILE ROOF-REPAIR $0 $0 $0 $0 $0 $0 1808 TREE TRIMMING-PERIODIC $0 $2,264 $0 $0 $0 $2,549 Total Expenditures $4,868 $5,338 $84,242 $0 $2,357 $57,893 ASSOCIATION RESERVES, INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 205 CONCRETE DRIVE-REPAIR Quantity: Approx 6,360 Sq Ft Location: Entry drive Evaluation: Good condition. There is no abnormal chipping or cracking. No expectancy to completely replace, but repairs and/or partial replacement should be anticipated at some point in time. Useful Life: - 20 years Remaining Life: 11 years 41.7 .44.4 4411S14-46 Best Case: $9,550.00 Worst Case: $12,750.00 $6.00/Sq Ft; Estimate to replace 25%of the total $8.00/Sq Ft; Higher estimate to replace 25% Cost Source: ARI Cost Database Comp#: 303 HEAT PUMPS-REPLACE Quantity: (15) Rheem Units Location: Rooftop of buildings Evaluation: These are packaged units of heat and air conditioning. Given the rooftop location,they receive a lot of exposure and look aged. Repairs looked to have been in progress during inspection and should be treated as an operating issue. Useful Life: 15 years ' Remaining Life: 6 years i ' a 1�F �` xm �` a of *y •� t f. wi _ .,t Best Case: $42,000.00 Worst Case: $57,000.00 $2,800/Unit; Estimate to replace, installed $3,800/Unit; Higher estimate Cost Source: ARI Cost Database void February 29,2000 Page 1 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments 'slew Comp#: 324 EXTERIOR LIGHTS-REPLACE Quantity: (29) Light Fixtures Location: Adjacent to various unit front doors and at each unit's patio Evaluation: The lights are original from 1991. They look somewhat aged and worn. Periodic replacement should be anticipated to maintain a uniform appearance throughout the property. Useful Life: ; aniumag d xi 15 years `� • ` iI 1111.11111.111114`= Remaining Life: 111P.111101 f� 6 years w> a . Tf Best Case: $1,750.00 Worst Case: $2,350.00 $60.00/Fixture; Estimate to replace, installed $80.00/Fixture; Higher estimate Cost Source:ARI Cost Database Comp#: 325 INTERIOR LIGHTS-REPLACE Quantity: Numerous Fixtures Location: Unit interiors Evaluation: Overall fair condition. There is no expectancy to replace all of the fixtures throughout the property. Treat repairs or individual replacements as a maintenance issue. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 2 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 403 MAILBOXES-REPLACE Quantity: (15)Aluminum Boxes Location: Adjacent to driveway Evaluation: Good to fair condition. No rusting observed. There was no evidence of damage or abuse either. The surfaces are faded though due to the level of weather exposure they receive. 1 Useful Life: 15 years - Remaining Life: Fr,. 6 years _l It r Best Case: $600.00 Worst Case: $750.00 $40.00/Box; Estimate to replace, installed $50.00/Box; Higher quality boxes Cost Source:ARI Cost Database Comp#: 404 POOL FURNITURE- REPLACE Quantity: (11)Assorted Pieces Location: Adjacent to pool Evaluation: Fair condition. No signs of rusting on the frames. The straps are fading, but still structurally sound. Furniture appears to receive low use and abuse. Useful Life: ,.` " rt4 t-, 6 years a ;r y"�q`*�` Remaining Life: 2 years • � �. ff j r'',, 7/ tit '-_-_, : ''': ':'., - ' Ali Best Case: $1,200.00 Worst Case: $1,650.00 Estimate for replacement pieces Higher estimate for better quality or more pieces Cost Source:ARI Cost Database 1 February 29,2000 Page 3 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments W. Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx 605 Linear Ft Location: Property perimeter Evaluation: The block wall is structurally sound. There are no missing or broken blocks. These walls are designed to last the life of the property without replacement under normal circumstances. Paint and repair the stucco under component#1115. =!• _ 1 ;� Useful Life: �—{�_ +_'' , , Remaining Life: i` ''', - `;1 tf; ' ‘1.1t• ': ..' '''''i ':1 ti. 11 •1 t 4. Best Case: Worst Case: Cost Source: IP Comp#: 503 POOL FENCE-REPLACE Quantity: Approx 120 Linear Ft Location: Pool perimeter: approx 54 LF of iron and 66 LF of chain link Evaluation: The fencing is structurally sound. No significant corrosion or rusting noted. Replacement should be anticipated at some point in the future. Cost reflects replacement with both iron and chain link as it is now. y Useful Life: 20 years i ter. �• _ i -fit, , 14 "! G Remaining Life: H } , k a i 1J f , ' \ 1 10,- . ', k 0, Best Case: $2,100.00 Worst Case: $2,800.00 Estimate to replace pool fencing Higher estimate Cost Source:ARI Cost Database Illi, February 29,2000 Page 4 of 20 Association Reserves, Inc. Inventory Appendix Client: 82O7A Pueblos Apartments Comp#: 601 CARPET-REPLACE Quantity: Approx 570 Sq Yds Location: Unit interiors Evaluation: There are wear patterns apparent in many areas. Seams are beginning to show, and there are areas pulling apart. Unit#108 recently received new carpet,but it is still in poor shape. Complete replacement is recommended. Useful Life: 6 years Remaining Life: 0 years Best Case: $5,150.00 Worst Case: $6,270.00 $9.00/Sq Yd; Replacement carpet, installed $11.00/Sq Yd; Higher estimate Cost Source: ARI Cost Database Comp#: 602 LINOLEUM FLOOR-REPLACE ire Quantity: Approx 132 Sq Yds Location: Unit bathrooms, unit kitchens, and the laundry room Evaluation: Conditions tend to vary throughout. The kitchen flooring is in the worst shape and may need replacement soon. Other areas do look aged and show wear. Recommend complete replacement to maintain uniform appearance and conditions. /! 4 a ;4 ' Useful Life: 10 years Remaining Life: 0 years . , =3 M t Best Case: $1,584.00 Worst Case: $1,848.00 $12.00/Sq Yd; Estimate to replace, installed $14.00/Sq Yd; Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 5 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments lir Comp#: 702 UTILITY DOORS-REPLACE Quantity: (15)Wood Doors Location: Exterior locations on buildings Evaluation: The utility doors show signs of warping. Paint the doors regularly to preserve and protect the door surfaces. J •04#0 ,..„*.r, Useful Life: 15 years ti Remaining Life: ~ 5 years k , k �"...^*t x '' lid *,, :- e" Best Case: $1,900.00 Worst Case: $2,650.00 $125/Door; Estimate to replace, installed $175/Door; Higher estimate Cost Source: ARI Cost Database Comp#: 709 CLOSET DOORS-REPLACE Quantity: Numerous Doors Location: Unit interiors Evaluation: Good to fair condition overall. There is no expectancy to completely replace all of these doors. Repair or replace individually as needed with operating funds. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: 'v.. February 29,2000 Page 6 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments I Comp#: 803 WATER HEATERS-REPLACE Quantity: (16)American,40-Gallon Location: Utility closet areas and laundry room Evaluation: Fair condition. Some rusting noted on the seams. Corrosion also noted on the connections. They are original heaters from 1991 and are starting to look aged. Y 1 �(, -- ' lb , t. a•\.. �'T4it Useful Life: . 10 years y Remaining Life: y , T r'+••• 2 years ' _ i. ay, E i a . Best Case: $5,600.00 Worst Case: $8,000.00 $350/Heater; Estimate to replace, installed $500/Heater; Higher estimate Cost Source:ARI Cost Database Comp#: 901 LAUNDRY MACHINES-REPLACE Quantity: (2)Washers, (2) Dryers .....- Location: Laundry room Evaluation: The laundry machines are not owned by the property. No Reserve funding required. Useful Life: i " I. /% ), Remaining Life: 4 4 9� 1 e .SUM •a,' b { ,.,' i , Irk , • . ,,,,,,,,.. .. ...,, ,, , _._ Best Case: Worst Case: Cost Source: I void February 29,2000 Page 7 of 20 i Association Reserves, Inc. Inventory Appendix Client: 82O7A Pueblos Apartments Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE Quantity: (15) Kitchens Location: Unit interiors Evaluation: The cabinetry and counters are still in decent shape. Some scratching and wear, but no damage or deterioration. *7' y ' Useful Life: 4- ,„ 25 years Remaining Life: 6 years tsok I. 9 r.. Best Case: $21,000.00 Worst Case: $27,000.00 $1,400/Kitchen; Estimate to replace cabinetry and $1,800/Kitchen; Higher estimate counters Cost Source: ARI Cost Database tio, Comp#: 908 WINDOW TREATMENTS-REPLACE Quantity: Numerous Windows Location: Unit interiors Evaluation: There is no expectancy to replace all of the window treatments at the same time. Repair or replace individually as a maintenance issue. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: L February 29,2000 Page 8 of 20 Association Reserves, Inc. Inventory Appendix Client: 82O7A Pueblos Apartments Comp#: 909 BATHROOMS-REFURBISH s. Quantity: (15) Bathrooms Location: Unit interiors Evaluation: Refurbishment involves replacing the toilet, sink,shower/tub,and the small cabinet. Fixtures are still functional and not showing signs of major deterioration. They are beginning to look aged however. • "rd51`h .� Useful Life: 18 years Remaining Life: \' 3 years s , 1014 Best Case: $15,000.00 Worst Case: $21,000.00 $1,000/Bathroom; Estimate to refurbish $1,400/Bathroom; Higher estimate Cost Source:ARI Cost Database Comp#: 910 LAUNDRY ROOM-REFURBISH Quantity: (1) Room Location: Adjacent to large building Evaluation: There are no significant refurbishment issues to address. Flooring is included with the rest of the property's linoleum, and painting is treated as an ongoing maintenance issue. Useful Life: fix"* Remaining Life: ,.. (• Best Case: Worst Case: Cost Source: February 29,2000 Page 9 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 920 REFRIGERATORS-REPLACE Quantity: (15)White-Westinghouse Location: Unit kitchens Evaluation: Refrigerators are still original from 1991. Fair condition. There is no major deterioration occurring, and no abuse evident. They are getting older and should be nearing the end of their useful life spans. z I)- 1 . 4 iliiti;', , NI 4± ! 4 Useful Life: M -...., ,,. 12 years 4.. r Remaining Life: 3 ears r`: Y fall 4 :07 Best Case: $6,000.00 Worst Case: $11,250.00 $400/Refrigerator; Estimate to replace $750/Refrigerator; Higher estimate Cost Source: ARI Cost Database Comp#: 922 OVENS-REPLACE Quantity: (15)White-Westinghouse Location: Unit kitchens Evaluation: No abnormal conditions were observed upon inspection. These units are getting older. Avoid abuse and keep clean to achieve full useful life. �;. t - Useful Life: 12 years a -, • • Remaining Life: t ?fat 3 years ` W �" i , 4J7 Best Case: $5,250.00 Worst Case: $9,000.00 $350/Oven; Estimate to replace $600/Stove; Higher estimate Cost Source: ARI Cost Database L February 29,2000 Page 10 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 925 TRASH COMPACTORS-REPLACE Quantity: (15)White-Westinghouse Location: Unit kitchens Evaluation: The trash compactors are getting older. They show signs of age and wear. Use properly and avoid abuse to achieve full useful life. • Useful Life: _ 12 years Remaining Life: 0. ! '" 3 years 4 "�;, '� Best Case: $5,250.00 Worst Case: $9,000.00 $350/Compactor; Estimate to replace $600/Compactor; Higher estimate Cost Source:ARI Cost Database Comp#: 1003 IRRIGATION TIMER- REPLACE Quantity: (1) Irritrol Rain Dial Location: Laundry room Evaluation: The timeclock is in good condition. No signs of premature deterioration. The timer is in a well protected location. The cost to replace this timer is too small for Reserve designation. Treat as an operating expense. Malan__- - 252.1582 -f Useful Life: • _ Remaining Life: • dos Best Case: Worst Case: Cost Source: February 29,2000 Page 11 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Nem, Comp#: 1005 LANDSCAPE-REPLENISH Quantity: Trees, Shrubbery,etc. Location: Throughout common area Evaluation: Landscaping is an ongoing operating issue for regular maintenance as well as replenishing plants. No Reserve funding required. • Useful Life: i _ ' • Remaining Life: _ • t, _ ! i 1 ®' ws Best Case: Worst Case: Cost Source: Comp#: 1101 FRONT DOORS-REPAINT Isar Quantity: (15)Wood Doors Location: Entry to each unit Evaluation: The doors are getting dry and faded. Paint regularly to preserve the appearance and surface integrity. Repainting is included with the wood surfaces under component#1116. Useful Life: Remaining Life: Best Case: Worst Case: Cost Source: February 29,2000 Page 12 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 1103 UTILITY DOORS-REPAINT Quantity: (15)Wood Doors Location: Exterior building surfaces Evaluation: The utility doors are dry and faded. Many of the doors are beginning to warp. Paint the doors regularly to preserve the surface integrity and appearance of the doors. Painting is included with the wood surfaces under component#1116. _r • Useful Life: h Remaining Life: 3 =a "ir )3 hT 999 A. k Best Case: Worst Case: Cost Source: Nilid Comp#: 1105 BLOCK WALL-REPAINT Quantity: Approx 600 Linear Ft Location: Property perimeter s Evaluation: The paint/stucco surface is in poor hape. It is cracked and chipping. Painting and repairs should be included with the stucco surfaces under component#1115. ,,,,4,440, „ . Useful Life: alis• T RemainingLife: •t {' ` K `;�t .,,`�u,A is 'A1141p� '°t '= rj 9 ..�~k: *_�d\ *b>_a,1.,. '�`� -a`^.i4 �ctS.G• 2x-rw..o::",... ' ,,"? Best Case: Worst Case: Cost Source: 141) February 29,2000 Page 13 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments ice„ Comp#: 1107 POOL FENCE- REPAINT(iron) Quantity: Approx 54 Linear Ft Location: Pool perimeter Evaluation: The paint on the iron is fading and getting chipped. There is rust beginning to form on the surface. Paint regularly to restore the appearance and to inhibit rusting. i • 1■`! j t -ar 1 Useful Life: k 5 years .\ Remaining Life: i t. i o years 1 I --Nuroakum / ‘ // 4 \ 4t;;fey... Best Case: $200.00 Worst Case: $300.00 $4.00/Linear Ft; Estimate to repaint $5.00/Linear Ft; Includes additional surface prep Cost Source: ARI Cost Database Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Numerous Sq Ft Location: Unit interiors Evaluation: The interior surfaces vary in condition. Future painting will be addressed as a maintenance issue rather than as a Reserve project. Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 14 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 1115 STUCCO-REPAINT Quantity: Approx 20,130 Sq Ft Location: Exterior building surfaces and perimeter walls Evaluation: Some of the stucco is chipped and stained. A few areas appear to be experiencing major deterioration. Painting and minor repairs are recommended. Overall the stucco is in poor condition. Useful Life: jl �' 10 years x -_._.: i- _ _-- tf Remaining Life: 0 yearsilf- viglINA Best Case: $10,100.00 Worst Case: $14,100.00 $0.50/Sq Ft; Estimate to repaint $0.70/Sq Ft; Higher estimate to include minor repairs Cost Source:ARI Cost Database Comp#: 1116 WOOD SURFACES-REPAINT ',I Quantity: Doors&Trim Location: Unit front doors, utility doors,and wood trellis' Evaluation: The wood surfaces are becoming faded and weathered. Repaint regularly to preserve the wood and to restore the appearance. N., \ • 3 Useful Life: \+ ' ,. ' 5 years , f Ytya Y Remaining Life: ti y p t ` 0 years tom +, 4 r.1 Y ` •.'3'i.. z c, •,fie Best Case: $1,800.00 Worst Case: $2,350.00 Estimate to repaint Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 15 of 20 • Association Reserves, Inc. Inventory Appendix Client: 82O7A Pueblos Apartments *gar Comp#: 1117 CARPORT WOOD-REPAINT Quantity: Approx 1,560 Sq Ft Location: Carport ceiling Evaluation: The painted wood under the carport is getting dry; it is also chipping in some areas. They are not subject to a lot of exposure and are not fading extensively. Coordinate with stucco surfaces if possible. Useful Life: 10 years Remaining Life: 0 years _N ti Best Case: $800.00 Worst Case: $1,100.00 $0.50/Sq Ft; Estimate to repaint $0.70/Sq Ft; Higher estimate Cost Source: ARI Cost Database Comp#: 1202 POOL-RESURFACE Quantity: (1) Pool,approx 75 LF Location: Pool area Evaluation: The pool surface is discolored and dirty. There is no major chipping or cracking occurring. The pool looks to get low use and is not showing any signs of abuse. It is expected to last longer than the typical life span. _ t - L ka-otat • Useful Life: 12 years Remaining Life: , i• 3 years ;tri*e W- "44- i Best Case: $3,000.00 Worst Case: $3,800.00 Estimate to replaster and retile Higher estimate for more labor and materials cost Cost Source: ARI Cost Database February 29,2000 Page 16 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 1207 POOL FILTER-REPLACE Quantity: (1)Sta-Rite Filter Location: Pool equipment area,exposed Evaluation: The filter is original from 1991. There are signs of leaking and corrosion occurring. The filter is functional but is loud when operating. Overall fair condition. Useful Life: M ,,;,_ ..,:;,,,,,t,_..___,_...„4.1111.., ' r 12 years �. ,,,,,' i. Remaining Life: -e 5 years -_. K - t s Best Case: $900.00 Worst Case: $1,100.00 Estimate to replace, installed Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 1208 POOL HEATER-REPLACE MOW- Quantity: (1) Raypak,333000 BTU Location: Pool equipment area,exposed Evaluation: There is a lot of soot and dirt on the bottom of the heater. Rust is building up as well. Reportedly functioning well. F' ::'fix 2,t. Y.w t _ r. Useful Life: �`: I 10 years Y. Remaining Life: `= 4 years ;�.. _-° . : i t fe J Best Case: $1,800.00 Worst Case: $2,200.00 Estimate to replace, installed Higher estimate Cost Source: Research with Local Vendor/Contractor Nod February 29,2000 Page 17 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 1210 POOL PUMP-REPLACE Quantity: (1) Pump Location: Pool equipment area, exposed Evaluation: This pump is original from 1991. It is reportedly still in decent shape. Useful Life: 10 years Remaining Life: Photo Not Available 2 years Best Case: $700.00 Worst Case: $900.00 Estimate to replace, installed Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 1301 CARPORT ROOF-REPLACE err Quantity: Approx 1,560 Sq Ft Location: Carport roof Evaluation: Fair condition. The gravel is getting thin in some areas. The roof is structurally sound. No deterioration noted. Aittleta 't Q �� Useful Life: 12 years � Remaining Life: 3 years .. . Y � ` 40.y_ - �e`}9t�_ie.3 P • 3Y_JZ Best Case: $2,750.00 Worst Case: $3,300.00 $1.75/Sq Ft; Estimate to reroof $2.10/Sq Ft; Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 18 of 20 Association Reserves, Inc. Inventory Appendix Client: 8207A Pueblos Apartments Comp#: 1301 FLAT ROOF-REPLACE Quantity: Approx 3,920 Sq Ft Location: Unit roofs Evaluation: The roofs are original from 1991. Overall fair condition. The gravel is thinning in a lot of areas. There are some areas where the asphalt surface has sun exposure. Many soft spots were observed during the inspection. L Useful Life: 12 years - -:411 Remaining Life: w ';:---- �• 3 years tiYr. i'�_ a t% ,,,4 ;i is �j2", Best Case: $7,450.00 Worst Case: $9,800.00 $1.90/Sq Ft; Estimate to reroof $2.50/Sq Ft; Higher estimate Cost Source:ARI Cost Database Comp#: 1304 TILE ROOF-REPAIR Quantity: Approx 9,335 Sq Ft Location: Rooftop of buildings Evaluation: The tile roofing does not show any signs of deterioration. This type of roofing has a long life span with no expectancy for complete replacement. Periodic repair and replacement to a portion of the underlayment should be anticipated. y a y Useful Life: y ,; , y!� , 1; _ 20 years Remaining Life: ''� �f „_ r 11 years ,,,w .. . - �. c, ir.'! Best Case: $9,350.00 Worst Case: $11,700.00 $4.00/Sq Ft; Estimate to repair 25%of the total area $5.00/Sq Ft; Higher estimate to repair 25% Cost Source:ARI Cost Database "Mil/ February 29,2000 Page 19 of 20 Association Reserves, Inc. Inventory Appendix Client: 82O7A Pueblos Apartments Comp#: 1808 TREE TRIMMING-PERIODIC Quantity: Several Large Trees Location: Throughout common areas Evaluation: Large trees require more extensive trimming and pruning than typically addressed as regular landscaping maintenance. • Useful Life: _ t 4 years _ Remaining Life: - ' ;�—•�•�L 2 years --� t ` tt .� s t.~t Best Case: $900.00 Worst Case: $1,200.00 Allowance for tree trimming Higher allowance Cost Source:ARI Cost Database February 29,2000 Page 20 of 20 Corporate Office SSOCIATION Local Offices P.O.Box 8637 Phoenix,AZ Calabasas,CA 91372 ESERVES, I1 1N C. San Francisco,CA TEL 800/733-1365 Denver,CO FAX 800/733-1581 Honolulu,HI www.ReserveStudy.com Reserve Studies for Community Associations J.as Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN© /:y ftio � t � 3x tx-T Santa Rosa Apartments Palm Desert, CA For the Period From: January 1 , 2000 Through: December 31 , 2000 Report # 8584-0 (fr Date Prepared: February 29, 2000 TABLE of CONTENTS EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY *ft` Report #: 8584-0 Property Name: Santa Rosa Apartments Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $9,459 Recommended Capital Contribution: $2,050/month The Santa Rosa Apartments is a small 20 unit facility, recently completely renovated. The facility consists of five residential buildings and a tot lot. Two of the buildings have small rooms attached to their sides, one being a laundry facility and one a maintenance supply room. Each of the buildings contain two two-bedroom units downstairs and two two- bedroom units upstairs. All units are similar with the exception of right and left handedness and the ceiling height. At the time of our inspection on 12/3/1999, the tot lot equipment was still bundled on pallets (not yet installed), and the metal carports likewise were bundled in the parking area and awaiting installation. Stairways had yet to be resurfaced, but otherwise the property appeared to be ready for occupation. The components which we have identified as significant for Capital Planning are summarized on the following page. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (light fixtures, ceiling fans, replacement of a simple 6-station irrigation timeclock, painting of balcony decks, and all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding has not been designated. You will note we have separated between the two roofing material types (building rooftops and utility closet rooftops). For economies of scale, it may be cost-effective to consider replacement of the utility closet rooftops (even if they have not reached the end of their Useful Life) when the building rooftops require replacement. Note also that our recommended capital contribution set-aside of$2,050/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $9,459 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. Association Reserves, Inc. Executive Summary® 8584-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Santa Rosa Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 303 LAUNDRY HVAC - REPLACE 12 12 $2,125 $3,030 303 UNIT HVAC - REPLACE 10 10 $42,500 $57,116 405 PLAY EQUIPMENT- REPLACE 8 7 $8,750 $10,761 601 CARPET- REPLACE 6 6 $16,000 $19,105 602 LINOLEUM FLOOR - REPLACE 6 6 $5,200 $6,209 803 LAUNDRY WATER HEATER - REPLACE 12 12 $1,400 $1,996 803 UNIT WATER HEATER - REPLACE 10 10 $13,000 $17,471 904 KITCHEN COUNTER/CABINET- REPLA 25 25 $47,500 $99,454 909 BATHROOM - REFURBISH 18 18 $40,000 $68,097 920 REFRIGERATOR - REPLACE 12 12 $11,500 $16,396 922 OVEN - REPLACE 12 12 $9,500 $13,545 923 DISHWASHER - REPLACE 12 12 $6,000 $8,555 1101 FRONT/UTILITY DOORS - REPAINT 5 4 $3,613 $4,066 1107 METAL FENCE/RAIL- REPAINT 4 3 $600 $656 1115 STUCCO - REPAINT 10 9 $18,750 $24,464 1116 WOOD SURFACES - REPAINT 5 4 $5,750 $6,472 1302 CAP SHEET ROOF - REPLACE 12 11 $28,725 $39,762 1303 COMP SHINGLE ROOF - REPLACE 15 14 $1,113 $1,683 1315 METAL CARPORT ROOF - REPLACE 20 20 $14,400 $26,008 1808 TREES -TRIM 4 0 $2,000 $2,251 20 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY INTRODUCTION The property described in this Report is a small apartment building that has undergone recent • significant renovation by the City of Palm Desert. This development includes residential facilities, minor recreation facilities (a small tot lot), and covered parking. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2)projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. 1 Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS The information contained in this Report was compiled from a number of sources familiar with the history and operating practices of the building. These included: contractor involved with the renovation, City personnel, (future) management personnel, and the roofing sub-contractor. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. `r. Association Reserves, Inc. 3 Capital Replacement Plan GENERAL REMARKS The Santa Rosa Apartments is a small 20 unit facility, recently completely renovated (new plumbing, new stucco exterior, new carpet & flooring & appliances & bathroom fixtures, new roofing, new furnace and A/C units, new water heaters, new driveways and walkways, new "" ground floor patios, new landscaping, etc.). The facility consists of five residential buildings and a tot lot. Two of the buildings have small rooms attached to their sides, one being a laundry facility and one a maintenance supply room. Each of the five buildings contain two two- bedroom & one bathroom units downstairs and the same two bedroom and one bathroom units upstairs. At the time of our inspection on 12/3/1999, the tot lot equipment was still bundled on pallets(not yet installed), and the metal carports likewise were bundled in the parking area awaiting installation. Stairways had yet to be resurfaced, but otherwise the property appeared to be ready for occupation. Since we did not have the benefit of observing the property over any significant period of time (weeks or months), we expect that future versions of this Report will contain revisions to life and cost estimates as the property begins to exhibit maintenance trends and needs. The components which we have identified as significant for Capital Planning are summarized on Table 1, page 6. In future years, costs have been increased by 3% per year to account for inflationary effects. Due to extended life expectancy or the expectation that repairs or replacements would be handled on an ongoing maintenance basis (light fixtures, ceiling fans, replacement of a simple 6-station irrigation timeclock, painting of balcony deck surfaces, all painting of interior walls and ceilings, etc.), there are a number of components that exist for which future capital funding was determined to be inappropriate. Additional information on all inspected components can be found in the Inventory section of this document. The resulting expenditures expected over the next 30 years from these components are summarized graphically in Figure 1, page 5. You will note we have separated between the two roofing material types (building rooftops and utility closet rooftops). For economies of scale, it may be cost-effective to consider replacement of the utility closet rooftops (even if they have not reached the end of their Useful Life) when the building rooftops require replacement. Note also that our recommended capital contribution set-aside of $2,050/month during Fiscal 2000 presumes a starting Reserve Cash Balance of $9,459 on 1/1/2000, and presumes that all interest earnings from the Reserve Cash Balance accrue to that fund. In future years, we expect that nominal annual "inflation-offsetting" increases will be required to this contribution rate. The expenditures for future years can be summarized as follows: First five years: $15,445 5 - 10 years: $76,027 10 - 15 years: $207,623 15 - 20 years: $287,605 Details of these expenditures through the years can be found on Table 2, beginning on Page 7. We hope this information is helpful to ownership and management as you plan your Capital Planning budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. Association Reserves, Inc. 4 Capital Replacement Plan A • O NN � CC tiNC D 0-, r .V"\; "'- (c )i I— W4--- N .\\\\\\\\\\\\\�\\\\\\\\\\\\\ _O oG)(n k\\\\\\\\\ \\\\ \\\\ \\\\\\�\\\\\\\�\\\\\\�-N Z Cif K��\\��\�N W -I- I , cc ii TQ 0 k\��' N w Ws I,vwwvv�wv�wvvywvvvvv vvI- t\\��\ �\\�\�� O Wm k\\�\\�`�\\\\ N > 15 1\NN� CC i ��\ _ O Wir N (11 V, t W > �o Q O N 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O co CO ct' N O CO CO d' N {�} N T T T T T {a -Ea {f} - (spuesnogj) timk S1d101 -ldfl N N`d 8584-0 00MPONENTS REQUIRING RESERVE FUNDING TABLE 1 Santa Rosa Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 303 LAUNDRY HVAC-REPLACE (1)2.5T York System 12 12 $1,750 $2,500 303 UNIT HVAC-REPLACE (20)York Systems 10 10 $35,000 $50,000 405 PLAY EQUIPMENT-REPLACE One small tot lot 8 7 $7,500 $10,000 601 CARPET-REPLACE Approx 1600 Sq Yds 6 6 $14,400 $17,600 602 LINOLEUM FLOOR-REPLACE Approx 400 Sq Yd 6 6 $4,800 $5,600 803 LAUNDRY WATER HEATER-REPLACE (1)50 Gal,50000 BTU 12 12 $1,200 $1,600 803 UNIT WATER HEATER-REPLACE (20)40 Gal,36000 BTU 10 10 $10,000 $16,000 904 KITCHEN COUNTER/CABINET-REPLAC (20) Kitchen areas 25 25 $35,000 $60,000 909 BATHROOM-REFURBISH (20) Bathrooms 18 18 $35,000 $45,000 920 REFRIGERATOR-REPLACE (20) 18 Cu Ft Roper brand 12 12 $8,000 $15,000 922 OVEN-REPLACE (20)Stove/Oven 12 12 $7,000 $12,000 923 DISHWASHER-REPLACE (20) Dishwashers 12 12 $4,500 $7,500 1101 FRONT/UTILITY DOORS-REPAINT (72)doors 5 4 $2,900 $4,325 1107 METAL FENCE/RAIL-REPAINT Approx 140 Linear Ft 4 3 $500 $700 1115 STUCCO-REPAINT Approx 23275 Sq Ft 10 9 $17,500 $20,000 1116 WOOD SURFACES-REPAINT Minimal total Sq Ft 5 4 $4,500 $7,000 1302 CAP SHEET ROOF-REPLACE Approx 12350 Sq Ft 12 11 $23,500 $33,950 1303 COMP SHINGLE ROOF-REPLACE Approx 220 Sq Ft 15 14 $900 $1,325 1315 METAL CARPORT ROOF-REPLACE (2) Metal carports 20 20 $12,600 $16,200 1808 TREES-TRIM Numerous mature trees 4 0 $1,500 $2,500 20 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. PAGE 6 8584-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 (lir , Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $9,459 $32,690 $59,408 $87,710 $117,002 $135,686 $168,765 Annual Contribution $24,600 $25,338 $26,098 $26,881 $27,688 $28,518 $29,374 Interest Earnings $631 $1,380 $2,204 $3,067 $3,785 $4,561 $5,195 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $34,690 $59,408 $87,710 $117,658 $148,475 $168,765 $203,334 # Expenditures 303 LAUNDRY HVAC-REPLACE $0 $0 $0 $0 $0 $0 $0 303 UNIT HVAC-REPLACE $0 $0 $0 $0 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $0 $19,105 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $0 $6,209 803 LAUNDRY WATER HEATER-REPLA $0 $0 $0 $0 $0 $0 $0 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $0 $0 $0 $0 $0 $0 $0 922 OVEN-REPLACE $0 $0 $0 $0 $0 $0 $0 923 DISHWASHER-REPLACE $0 $0 $0 $0 $0 $0; $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $0 $4,066 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $656 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $6,472 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1303 COMP SHINGLE ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $2,000 $0 $0 $0 $2,251 $0 $0 IPTotal Expenditures $2,000 $0 $0 $656 $12,789 $0 $25,314 e ASSOCIATION RESERVES, INC. PAGE 7 8584-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $178,020 $202,475 $237,698 $240,275 $205,425 $205,033 Annual Contribution $30,255 $31,163 $32,097 $33,060 $34,052 $35,074 Interest Earnings $5,700 $6,594 $7,160 $6,677 $6,149 $5,605 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $213,975 $240,232 $276,956 $280,012 $245,626 $245,712 # Expenditures 303 LAUNDRY HVAC-REPLACE $0 $0 $0 $0 $0 $3,030 303 UNIT HVAC-REPLACE $0 $0 $0 $57,116 $0 $0 405 PLAY EQUIPMENT-REPLACE $10,761 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $22,812 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $7,414 803 LAUNDRY WATER HEATER-REPLA $0 $0 $0 $0 $0 $1,996 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $17,471 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $0 $0 $0 $0 $0 $16,396 922 OVEN-REPLACE $0 $0 $0 $0 $0 $13,545 923 DISHWASHER-REPLACE $0 $0 $0 $0 $0 $8,555 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $4,713 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $738 $0 $0 $0 $831 $0 1115 STUCCO-REPAINT $0 $0 $24,464 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $7,502 $0 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $39,762 $0 1303 COMP SHINGLE ROOF-REPLACE $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $2,534 $0 $0 $0 $2,852 Total Expenditures $11,499 $2,534 $36,680 $74,587 $40,593 $76,599 ASSOCIATION RESERVES, INC. PAGE 8 4 8584-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $169,113 $210,932 $239,038 $270,429 $315,472 $366,346 Annual Contribution $36,126 $37,210 $38,326 $39,476 $40,660 $41,880 Interest Earnings $5,693 $6,741 $7,632 $8,777 $10,214 $10,195 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $210,932 $254,882 $284,996 $318,681 $366,346 $418,421 # Expenditures 303 LAUNDRY HVAC-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT HVAC-REPLACE $0 $0 $0 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $13,632 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $27,239 602 LINOLEUM FLOOR-REPLACE •$0 $0 $0 $0 $0 $8,853 803 LAUNDRY WATER HEATER-REPLA $0 $0 $0 $0 $0 $0 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $68,097 920 REFRIGERATOR-REPLACE $0 $0 $0 $0 $0 $0 922 OVEN-REPLACE $0 $0 $0 $0 $0 $0 923 DISHWASHER-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $5,464 $0 $0 $0 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $935 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $8,697 $0 $0 $0 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $0 $0 1303 COMP SHINGLE ROOF-REPLACE $0 $1,683 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $3,209 $0 $0 Total Expenditures $0 $15,844 $14,567 $3,20$i; $0 $104,189 ASSOCIATION RESERVES, INC. PAGE 9 8584-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $314,232 $316,468 $239,366 $293,106 $349,874 $333,517 Annual Contribution $43,136 $44,430 $45,763 $47,136 $48,550 $50,007 Interest Earnings $9,448 $8,326 $7,977 $9,632 $10,237 $8,954 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $366,816 $369,225 $293,106 $349,874 $408,661 $392,478 # Expenditures 303 LAUNDRY HVAC-REPLACE $0 $0 $0 $0 $0 $4,320 303 UNIT HVAC-REPLACE $0 $76,760 $0 $0 $0 $0 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $17,269 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 S32,525 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $10,571 803 LAUNDRY WATER HEATER-REPLA $0 $0 $0 $0 $0 $2,846 803 UNIT WATER HEATER-REPLACE $0 $23,479 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $0 $0 $0 $0 $0 $23,377 922 OVEN-REPLACE $0 $0 $0 $0 $0 $19,312 923 DISHWASHER-REPLACE $0 $0 $0 $0 $0 $12,197 1101 FRONT/UTILITY DOORS-REPAINT $6,335 $0 $0 $0 $0 $7,343 1107 METAL FENCE/RAIL-REPAINT $1,052 $0 $0 $0 $1,184 $0 1115 STUCCO-REPAINT $32,878 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $10,083 $0 $0 $0 $0 $11,689 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $56,691 $0 1303 COMP SHINGLE ROOF-REPLACE $0 $0 $0 $0 $0 $0 1315 METAL CARPORT ROOF-REPLACE $0 $26,008 $0 >:" $0 $0 $0 1808 TREES-TRIM $0 $3,612 $0 $0 $0 $4,066 Total Expenditures $50,348 $129,859 $0 $0 $75,144 $125,244 4 ASSOCIATION RESERVES,INC. PAGE 10 8584-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $264,234 $223,594 $284,254 $347,022 $410,070 $411,478 Annual Contribution $51,507 $53,052 $54,644 $56,283 $57,972 $59,711 Interest Earnings $7,308 $7,608 $9,457 $11,341 $12,307 $10,592 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $323,049 $284,254 $348,354 $414,646 $480,349 $481,781 # Expenditures 303 LAUNDRY HVAC-REPLACE $0 $0 $0 $0 $0 $0 303 UNIT HVAC-REPLACE $0 $0 $0 $0 $0 $103,159 405 PLAY EQUIPMENT-REPLACE $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE $0 $0 $0 $0 $0 $38,836 602 LINOLEUM FLOOR-REPLACE $0 $0 $0 $0 $0 $12,622 803 LAUNDRY WATER HEATER-REPLA $0 $0 $0 $0 $0 $0 803 UNIT WATER HEATER-REPLACE $0 $0 $0 $0 $0 $31,554 904 KITCHEN COUNTER/CABINET-REP $99,454 $0 $0 $0 $0 $0 909 BATHROOM-REFURBISH $0 $0 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $0 $0 $0 $0 $0 $0 922 OVEN-REPLACE $0 $0 $0 $0 $0 $0 923 DISHWASHER-REPLACE $0 $0 $0 $0 $0 $0 1101 FRONT/UTILITY DOORS-REPAINT $0 $0 $0 $0 $8,513 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $1,333 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $44,186 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $13,550 $0 1302 CAP SHEET ROOF-REPLACE $0 $0 $0 $0 $0 $0 1303 COMP SHINGLE ROOF-REPLACE $0 $0 $0 $0 $2,622 $0 1315 METAL CARPORT ROOF-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $4,576 $0 $0 Total Expenditures $99,454 $0 $1,333 $4,576 $68,871 $186,171 ASSOCIATION RESERVES, INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 103 CONCRETE PATIO-REPAIR Quantity: (10)Small patios Location: (10)Ground floor units. Evaluation: Newly poured concrete at time of reconstruction. No cracking, no deterioration. Sturdy appearing untreated concrete surface. No expectation for future capital replacement funding from this component. Useful Life: Remaining Life: • Best Case: Worst Case: Cost Source: Comp#: 103 CONCRETE SIDEWALK-REPAIR Quantity: Extensive Sq Ft Location: Passageways between buildings and units Evaluation: Intact,good condition. New surface. No deterioration. No expectation for anything other than minor local repairs. • • Useful Life: . • ,.ots e • Remaining Life: s . - • 4: tea .,ram . y yf .5 111 Best Case: Worst Case: Cost Source: February 29,2000 Page 1 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 205 CONCRETE DRIVE-REPAIR Quantity: Extensive Sq Ft Location: Sides and rear of property Evaluation: No cracking, appears to have sufficient expansion joints to avoid future cracking and deterioration. Minor local staining from vehicles. Raw, not painted. Useful Life: ' Remaining Life: .1"" Best Case: Worst Case: Cost Source: sow Comp#: 303 LAUNDRY HVAC-REPLACE Quantity: (1)2.5T York System Location: Furnace(in closet)and condensor(on ground outside building) Evaluation: Clean, good near-new condition. Useful Life: 111 12 years Remaining Life: • 12 years sj Best Case: $1,750.00 Worst Case: $2,500.00 Lower estimate to remove and replace Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 2 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 303 UNIT HVAC-REPLACE Quantity: (20)York Systems Location: Furnaces in closets inside units,condensors on ground at rear of units. Evaluation: Clean, good near-new condition. ; itl-i' ' c 1 ,r, . Useful Life: L 4e, F 10 years i eo. 1 • ' Remaining Life: M .e Y` i i 10 years .5 �,A= n.r ...... „... .__ _. ,.. _-___,... ____ . ..., ..,.,,, „ .... . .., . „, Best Case: $35,000.00 Worst Case: $50,000.00 Lower estimate to remove and replace, $1750 ea., Higher estimate,$2500 ea, installed installed Cost Source:ARI Cost Database Comp#: 324 WALL LIGHTS-REPLACE �,;d Quantity: Approx 20 lights Location: One per unit,exteriors of buildings Evaluation: Intact, good physical condition. No expectation for total replacement, expect only minor local repairs or replacements. 1 Useful Life: Remaining Life: Photo Not Available Best Case: Worst Case: Cost Source: February 29,2000 Page 3 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments yam, Comp#: 325 INTERIOR LIGHTS-REPLACE Quantity: Numerous lights Location: Walls(of upper story units)and ceilings(of lower story units) Evaluation: Good current condition. New. Expect some local repairs and replacements of fixtures in the future on an as- needed basis, no expectation for property-wide replacement of all fixtures. Useful Life: u , Remaining Life: - A � Best Case: Worst Case: Cost Source: Comp#: 405 PLAY EQUIPMENT-REPLACE Quantity: One small tot lot Location: Rear of property Evaluation: New equipment, not yet installed at time of site inspection (still bundled from shipping). Commercial grade plastic/metal equipment,expect to install on a cushioned wood chip surface. -„ . Useful Life: 8 years Remaining Life: 7 years x�.' 'fir r Best Case: $7,500.00 Worst Case: $10,000.00 Lower estimate to replace Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 4 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 501 BLOCK WALL-REPLACE Quantity: Approx 811 Linear Ft Location: Rear perimeter of property, garbage collection area, rear utility closet areas Evaluation: Sturdy, structurally stable. No cracking or looseness. No expectation to eventually replace,only minor local repairs anticipated. .16 1 .Useful Life: re . - �,. . Remaining Life: • x,. Best Case: Worst Case: Cost Source: Comp#: 503 METAL FENCE/RAIL- REPLACE Quantity: Approx 140 Linear Ft Location: Perimeter of tot lot Evaluation: Structurally sound, new material and installation. No expectation for complete replacement with minor local repairs and periodic painting. lti'1 �� `iI � i � � r `' �� ! � iIia }, Useful Life: ) ) i I Remaining Life: 1. Best Case: Worst Case: Cost Source: February 29,2000 Page 5 of 19 • Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 601 CARPET-REPLACE Quantity: Approx 1600 Sq Yds Location: Living rooms and bedrooms of all 20 units Evaluation: Currently in.new condition. Not high grade carpet,showing some minor seams and minor discoloration due to different orientations of grain and exposure from open windows. fi47/onfmr,' — s-1— 1 Useful Life: 6 years Remaining Life: , 6 years : ,... ....F- .• Best Case: $14,400.00 Worst Case: $17,600.00 Lower estimate to replace with medium grade Higher estimateinstalled c,addcn material and laborYd costs, carpet,$9.00/Sq Yd resulting in ost of$11.00/Sq Cost Source:ARI Cost Database Comp#: 602 LINOLEUM FLOOR-REPLACE Quantity: Approx 400 Sq Yd. Location: Bathrooms and kitchens of each unit Evaluation: Minor unevenness, no curling or seams showing. Not a heavy grade material, but no wear and no deterioration at time of inspection. t k.- Useful Life: 6 years Remaining Life: 6 years • Best Case: $4,800.00 Worst Case: $5,600.00 Lower estimate for replacement flooring, $12/Sq Yd, Higher estimate,$14/Sq Yd installed Cost Source: ARI Cost Database February 29,2000 Page 6 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 609 STAIRWAY-RESURFACE Quantity: (5)Staircases Location: Central core of each building Evaluation: Currently a very deteriorated,old surface. To be covered by a heavy grade tile or pool coping surface for long life expectancy and durability. Expect future repairs,but not eventual future replacement. a Useful Life: s.. *� sx`'� 1 _ „ ' S Remaining Life: -..,..7,.ri , t . ' ' °'_'.._ 1- , y Best Case: Worst Case: Cost Source: Comp#: 709 CLOSET DOORS-REPLACE Quantity: (40)Closet doors Location: (2) Bedrooms in each of 20 units Evaluation: New mirrored closet doors. Two sliders per bedroom. Good, new condition when inspected, no deterioration. Expect to repair or replace on an individual basis in the future as required. i II Useful Life: 4. Remaining Life: µz v„ , Best Case: Worst Case: Cost Source: -rid February 29,2000 Page 7 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments `,, Comp#: 803 LAUNDRY WATER HEATER-REPLACE Quantity: (1)50 Gal,50000 BTU Location: Utility closet in laundry room. Evaluation: Clean, no usage yet at time of site inspection. No deterioration,good sheltered location. Useful Life: 12 years Y Remaining Life: 12 years -- s 3 6 1 ; t . Best Case: $1,200.00 Worst Case: $1,600.00 Lower estimate to remove and replace with similar Higher estimate unit Cost Source: ARI Cost Database NewComp#: 803 UNIT WATER HEATER-REPLACE Quantity: (20)40 Gal,36000 BTU Location: Rear utility closets of each building (2/closet) Evaluation: Clean, new, no significant usage when inspected. No deterioration. mil ,-.. Useful Life: I 10 years --. Remaining Life: t... , 10 years ! r. ar't' V ` Best Case: $10,000.00 Worst Case: $16,000.00 Lower estimate to remove and replace, $500 ea Higher estimate,$800/unit Cost Source: ARI Cost Database February 29,2000 Page 8 of 19 • Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE Quantity: (20) Kitchen areas Location: Interior of each unit. Evaluation: Clean, new condition. No wear on counters or cabinetry. Expect eventual need for refurbishment to these high use areas. • . r. Useful Life: 25 years Remaining Life: : a 25 years • Best Case: $35,000.00 Worst Case: $60,000.00 Lower estimate for minor cabinet work and new Higher estimate,$3000/kitchen countertop, $1750/kitchen Cost Source:ARI Cost Database Comp#: 908 WINDOW TREATMENTS-REPLACE ""`1 Quantity: No Window Treatments Location: Windows of 20 units Evaluation: No window treatments had been installed at time of inspection. Expect that some will be installed, but will be maintained or replaced on a maintenance basis in the future, not as a capital project. r.y i , Useful Life: Remaining Life: 11 „it • ra` Best Case: Worst Case: Cost Source: February 29,2000 Page 9 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 909 BATHROOM- REFURBISH Quantity: (20) Bathrooms Location: Central area of each unit Evaluation: New toilet, new sink(and small cabinet), new shower/tub and fixtures. Good current condition. Expect eventual future need for refurbishing(new fixtures, repaired or replaced cabinet, etc.) c • ° .' ar Useful Life: 18 years sr � Remaining Life: §. 18 years z t ^ate 4rt res ' # 4.- F � Best Case: $35,000.00 Worst Case: $45,000.00 Lower estimate for minor refurbish project, Higher estimate, $2250/bathroom $1750/bathroom Cost Source:ARI Cost Database Comp#: 910 LAUNDRY ROOM- REFURBISH Quantity: (1)33 x 9 room Location: Attached to side of Building#4 Evaluation: Tile floor in good, new condition. Simple painted walls, clean. One small utility sink. Expect minor maintenance type refurbishing, but no overall remodel projects. ra. Useful Life - f• Remaining Life: t _ Best Case: Worst Case: Cost Source: February 29,2000 Page 10 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 910 MAINTENANCE/STORAGE-REFURBISH Quantity: (1) 33 x 9 room Location: Attached to end of building#5 Evaluation: Unfinished room, used for storage of maintenance and building supplies. No expectation for remodel costs. {t Useful Life: �. I + ,' Remaining Life: li A .__.._., . , ,. .,.. Best Case: Worst Case: Cost Source: Comp#: 920 REFRIGERATOR-REPLACE Quantity: (20) 18 Cu Ft Roper brand Location: Kitchens of each unit Evaluation: New condition, packing and warranty paperwork still inside unit. No wear or deterioration. •c - *mod._ fx , • Useful Life: s s , 1100,_e 12 years ':0' •, x° ...,,, a• ' �^` r3.: ---- 7, .•._..._ Remaining Life: A i�. . :; •- 12 years i ' ,` k ; b� y} k A t Best Case: $8,000.00 Worst Case: $15,000.00 Lower estimate for replacement refrig, installed @ Higher estimate, $750 ea. $400 ea Cost Source: ARI Cost Database February 29,2000 Page 11 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 922 OVEN-REPLACE Quantity: (20)Stove/Oven Location: Kitchens of each unit Evaluation: Amana or Frigidaire ovens with 4 burners on top, with NuTone range-hood. Gas. New condition, packing materials still inside oven. t7► C�► Useful Life: 12 years 444444440 o' Remaining Life: 12 years • Best Case: $7,000.00 Worst Case: $12,000.00 Lower estimate to replace,$350/oven& range-hood Higher estimate,$600 ea set. Cost Source: ARI Cost Database nor Comp#: 923 DISHWASHER-REPLACE Quantity: (20) Dishwashers Location: Kitchen of each unit Evaluation: Frigidaire units, simple controls, minimal special features. New units, packing materials and paperwork still inside dishwasher. fi Useful Life: 12 years K ` ali • i 771-- Remaining Life: , '': ; 12 years .rk ;1t 1 !t Y'�tL�•S' Best Case: $4,500.00 Worst Case: $7,500.00 Lower estimate to remove and replace with similar Higher estimate, $375 ea. unit,$225 ea. Cost Source:ARI Cost Database February 29,2000 Page 12 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 924 GARBAGE DISPOSAL-REPLACE Quantity: (20) 1/2 HP Disposals Location: Under kitchen sink. Evaluation: Good condition(new). No deterioration yet. Expect to replace on an ongoing maintenance basis(not as an overall property-wide capital replacement project) in the future as units are subject to different amount of usage and abuse. • • Useful Life: BsP' + • -I- Remaining Life: z .Y 1 :'Y ..r,.:s. .y v ..a. Best Case: Worst Case: Cost Source: Comp#: 1003 IRR.SYSTEM-REPLACE Quantity: (1)6-station system Location: Small timer and valves adjacent to side of building Evaluation: Timer too small for Reserve/capital designation. Expect minor ongoing repairs to system, no expectation for overall replacement. Useful Life: ,Y4 k • " • Remaining Life: • - - , , - Best Case: Worst Case. Cost Source: 3 Page 13 of 19 February 29,2000 • Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments `. Comp#: 1005 LANDSCAPE-REPLENISH Quantity: Minor landscape asset Location: Common areas throughout property, between buildings Evaluation: Generally attractive low water type plants. Small grassy area in front of property. Newly installed as part of reconstruction effort. Expect that ongoing care will keep this asset continually in good condition. .:-.. ....,., • • .4e,_Vtia - , 21."..: -.T Useful Life: "4, RemainingLife: :> M' ,�'. N { # 1'• -, e?t�� : - . Best Case: Worst Case: Cost Source: Comp#: 1101 FRONT/UTILITY DOORS- REPAINT Quantity: (72)doors Location: Unit entry areas, patios, utility closets, laundry,and maintenance room. Evaluation: (20) Front doors, (40) patio/balcony access, (10) utility doors, maint& laundry doors. Metal doors will need periodic paint. Expect to repaint with wood trim project,and touch up in-between as necessary. Useful Life: 5 years .,. Remaining Life: ` 4 years Best Case: $2,900.00 Worst Case: $4,325.00 Lower estimate to prep and paint,$40/door Higher estimate,$60/door Cost Source:ARI Cost Database (..„ February 29,2000 Page 14 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 1107 METAL FENCE/RAIL- REPAINT Quantity: Approx 140 Linear Ft Location: Perimeter of tot lot Evaluation: Paint is shiny(no dullness or deterioration). No fading or chipping. General near-new condition. MIROjll • ;, I ', .11/F ‘ Useful Life: — J " i �t 4 years Jr I 9 „at..li• l l t u l it ,e:ti 4•V 1 - f, RemainingLife: i i JAC ,II ! it 1 !III jIjiJijii; 3 years .4 all e I tc*A g'i- — - -,...„.„z„,..74—M, 44111416 Best Case: $500.00 Worst Case: $700.00 Lower estimate to repaint professionally, Higher estimate, $5.00/LF $3.50/Linear Ft Cost Source:ARI Cost Database Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Approx 64000 Sq Ft Location: Interior wall surfaces of 20 units Evaluation: Clean and intact, no staining or scuffing. Expect future painting to be accomplished as a maintenance issue, not as a capital replacement or repair project. "S Useful Life: =£. 'ai< `A I Remaining Life: Best Case: Worst Case: Cost Source: February 29,2000 Page 15 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 1115 STUCCO-REPAINT Quantity: Approx 23275 Sq Ft Location: Building exterior surfaces Evaluation: New surface. Minor landscape staining in some local areas. Generally good and attractive appearance. Useful Life: 10 years Remaining Life: r' 9 years ` _ s t Best Case: $17,500.00 Worst Case: $20,000.00 Lower estimate to prep and paint, .75/Sq Ft Higher estimate, $1000/unit Cost Source:ARI Cost Database Comp#: 1116 WOOD SURFACES- REPAINT ,, Quantity: Minimal total Sq Ft Location: Roof line trim -upper roof and utility closet areas Evaluation: Good shiny appearance of wood painted surfaces. Upper roof line areas do not have a smooth surface-old wood shows through. Expect that minor touchups will be done, and surfaces will be prepared appropriately in future paint cycles. Useful Life: 5 years I Remaining Life: 4years Best Case: $4,500.00 Worst Case: $7,000.00 Lower estimate to prep surfaces and repaint, Higher estimate,$350/unit $225/unit Cost Source:ARI Cost Database February 29,2000 Page 16 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 1130 BALCONY SURFACE-REPAINT Quantity: (10) Upper Balconies Location: Balconies of(10) upper story units Evaluation: 18x7 each, simple painted concrete surface. Approx 1260 Sq Ft total surface area of all balconies. Expect to touchup paint as necessary as a minor maintenance project as needed based on wear and usage. • Useful Life: • Remaining Life: a4 ms« f Best Case: Worst Case: Cost Source: Comp#: 1302 CAP SHEET ROOF-REPLACE Quantity: Approx 12350 Sq Ft Location: Upper rooftop areas and rooftops of laundry and maintenance storage areas Evaluation: Sturdy composition cap sheets. Heavy material. No exposed seams, no unevenness or bubbling. Good general near-new condition. No equipment requiring access on roof meaning minimal foot traffic. moo— -ter ." ',,, • Useful Life: _„as . ""rz > —.ri, ium 12 years l Remaining Life: 11 years •n y • 3 s Best Case: $23,500.00 Worst Case: $33,950.00 Lower estimate to replace-$1.90/Sq Ft Higher estimate,$2.75/Sq Ft Cost Source:ARI Cost Database 3 February 29,2000 Page 17 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 1303 COMP SHINGLE ROOF- REPLACE Quantity: Approx 220 Sq Ft Location: 10 rear utility closet rooftop areas. Evaluation: Good condition, near new installation. No deterioration of material at this time. Useful Life: 15 years -ter.. "'+.. Remaining Life: 14 years r - ark s i Best Case: $900.00 Worst Case: $1,325.00 Lower estimate to remove and replace. Relatively Higher estimate, $6.00/Sq Ft high cost due to small areas,$4.00/Sq Ft Cost Source: ARI Cost Database leo Comp#: 1315 METAL CARPORT ROOF-REPLACE Quantity: (2) Metal carports Location: Rear of property Evaluation: Not yet installed during inspection. Reportedly a 4-space and a 16-space carport will be installed, approx 3600 Sq Ft total. Very extended life anticipated, but expect eventual replacement due to normal deterioration and aesthetic reasons. 111. Useful Life: • • 20 years n� r Y Remaining Life: ti*s 1 1 ^ 20 years .{ .` At Best Case: $12,600.00 Worst Case: $16,200.00 Lower estimate for replacement metal carport Higher estimate,$4.50/Sq Ft roofing,$3.50/Sq Ft(installed) Cost Source: ARI Cost Database February 29,2000 Page 18 of 19 Association Reserves, Inc. Inventory Appendix Client: 8584A Santa Rosa Apartments Comp#: 1808 TREES-TRIM Quantity: Numerous mature trees Location: Scattered through property. Evaluation: Some trees encroaching on buildings. Reportedly some trees were removed during reconstruction effort, but some remain and require trimming. �• y t'tt• •t'' ' - Useful Life: 4 years •: • • Remaining Life: ; • " 0 years ; A'�r. t • • t r • r, • 'IA 3rA Best Case: $1,500.00 Worst Case: $2,500.00 Lower estimate for professional tree trimming Higher estimate project for this 20 unit property. Cost Source:ARI Cost Database February 29,2000 Page 19 of 19 HOME IMPROVEMENT PROGRAM PROJECTS Since June 30, 1999 Prepared by Bryce Lynn White February 28, 2000 ADDRESS SCOPE OF WORK STATUS 76-822 New York Ave. Remove existing roof and Complete replace with new Replace electric conduit in Complete garage and breakers Install new wooden fence Complete 74-166 Parosella St. Trim palm trees; install new front Complete yard grass and colored sand landscape Remove existing roof and Complete replace with new Repair drywall Complete 74-300 Goleta Ave. Remove existing and install Complete new furnace, condenser, compressor and duct work Remove existing roof and Complete replace with new 77-818 Calypso Rd. Install new furnace, condenser, Complete and compressor Repair electric conduit and Complete breaker Repair stucco next to eaves Complete 77-050 Michigan Dr. Remove existing and install new Complete furnace, condenser, compressor and additional duct work Wooden fence rear yard Complete 73-527 Silvermoon Trail Install rigid roof insulation Complete Remove existing roof and Complete replace with new 77-045 Michigan Dr. Build 6' slump-stone block wall Complete frontage of corner lot 1 ADDRESS SCOPE OF WORK STATUS 74-036 De Anza Way Remove deteriorated asphalt Complete driveway and replace with concrete Build carport Complete 73-220 Catalina Way Install evaporative cooler and Complete repair window opening 73-100 San Gorgonio Way Build block wall Complete Repair fences Complete New lawn landscaping Complete 72-760 Davis Rd. Replace garage door Complete Replace section of fascia Complete Replace garage window Complete Repair electric lines Complete 44-810 San Clemente Cr. Close opening between sun Complete room and house Security gates and decorative In progress archways on both sides of house Replace garage and front door Complete Paint house Complete 77-200 Indiana Ave. Front yard landscaping Complete Repair double gate Complete 74-761 Leslie Ave. Correct code compliance Complete violations Paint house Complete Landscape Complete Install new septic system Complete 42-696 Rebecca Rd. Remove deteriorated asphalt Complete driveway and replace with concrete Build carport Complete 2 ADDRESS SCOPE OF WORK STATUS 72-638 Pitahaya St. Build up plat areas of roof Complete Repair electrical In progress Replace roof Complete 74-082 Catalina Way Replace A/C system Complete Replace kitchen faucet and Complete repair toilet 77-060 Michigan Dr. Rehabilitate bathroom and Complete shower Build carport Complete Concrete patio and trim palm Complete trees 44-755 San Benito Circle Abandon septic system and Complete connect to sewer Repair leak shower area In progress Repair wood siding & paint In progress exterior 42-675 Kansas Street Paint house In progress Wrought Iron fence front yard Soliciting proposals Landscape front yard Soliciting proposals 43-865 Carmel Ave. Block wall; new roof Processing application 42-584 Rebecca Rd. County EDA- remodel kitchen Soliciting proposals 45-685 Verba Santa Dr. Install concrete driveway Processing application Block wall 43-505 Warner Trail Paint house In progress Install new garage door Complete Install new roof Complete 44-106 San Luis Dr. New roof Soliciting Proposals New concrete drive Soliciting Proposals 44-670 San Clemente Circle Stucco entire house Soliciting Proposals Reset kitchen sink Soliciting Proposals Replace garage door Soliciting Proposals New fence Soliciting Proposals e 3 • HOME IMPROVEMENT PROGRAM Totals to Date Completed: 25 Grants 2 Matching Fund Grants 12 Loans 2 County EDA Loans In Progress: 2 Grants 1 Loan 1 County EDA Loan Processing: 2 Grants tip 3 Loans 1 County EDA Loan TOTAL HOME IMPROVEMENT PROGRAM: 51 MAKE A DIFFERENCE DAYS: 44 TOTAL IN PROGRAMS: 95 G:\RDA\Diana Leal\WPDOCS\TL\H-I-P\WHITE\PROJSTA2.feb.wpd 4 UPDATE: February 28, 2000 PREPARED BY: Charlene Sumpter New RETROFITTING OF LANDSCAPING One Quail Place Ron Gregory and Associates received contract documents 2/24/00. They will be returning the contract documents on the week of February 28t. They are scheduled to begin design work on the week of March 6th. REPAIR AND RESURFACING Staff consulting with JMS Engineering to define the scope of work. • PALM VILLAGE APARTMENTS Staff is currently negotiating with adjacent property owner. CARPORTS Desert Pointe: Completed. Catalina Gardens: Work has begun. S 1 • PALM DESERT REDEVELOPMENT AGENCY MEMORANDUM DATE: MARCH 3, 2000 TO: HOUSING COMMISSION MEMBERS FROM: DIANA LEAL, SENIOR OFFICE ASSISTANT SUBJECT: RPM PROPOSED BUDGETS Enclosed is a copy of the amended Budget Comparison Totals for All Housing Authority Properties. Please discard sheets which were previously mailed to you as part of the RPM Proposed budgets and replace them with the enclosed sheets. Thank you. G:\RDA\Diana Leal\WPDOCS\TL\HOUSING.COM\AGENDAS\tpmamen.sht.wpd Zts .8- c• d�, ci E > U a, d c v N 4 c EE. a> i x -ca C. 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TEL 800/733-1365 Denver,CO FAX 800/733-1581 z ' '-' ,` -.f Honolulu,HI www.ReserveStudy.com Resew,r Studies forCommunity Associations Las Vegas,NV Seattle,WA CAPITAL REPLACEMENT PLAN© • liftw-*--s_;%7', 4 •• , ill ! ell - ... • S Re Ili ,.:- . . T • Taos Palms Palm Desert, CA For the Period From: January 1 , 2000 Through: December 31 , 2000 Report # 8213-0 Date Prepared: February 29, 2000 TABLE of CONTENTS r.. EXECUTIVE SUMMARY SECTION I Introduction 1 Objectives & Methodology 2 General Assumptions & Practical Considerations 3 General Remarks 4 SECTION II FIGURES Figure 1 - Annual Reserve Expenditures 5 TABLES Table 1 - Components Requiring Reserve Funding 6 Table 2 - Yearly Cash Flow Details 7 SECTION III Photographic Inventory Appendix CAPITAL REPLACEMENT PLAN EXECUTIVE SUMMARY Report #: 8213-0 Property Name: Taos Palms Apartments Report Period: 01/01/00 through 12/31/00 Recommended Fund Balance: $86,295 Recommended Capital Contribution: $1,400/month The Taos Palms Apartments include four separate one-story buildings with a total of (16) 2-bedroom units. The complex includes a pool, small laundry room and asphalt driveways & parking areas. The age of the buildings are unknown. The information in this Report is based on our on-site inspection of the property and some background investigation into recently completed projects. The various building components identified for inclusion in the Capital Replacement Plan are summarized on the following page. This page also includes Useful Life & Remaining life estimates and replacement cost estimates for each component. A number of smaller components have not been included for funding due to their low cost or would be handled as on-going maintenance expenses. This would include sliding closet doors, exterior & interior light fixtures, interior painting and irrigation timer. A number of capital projects were recently completed. These include re-roof-mg all buildings, complete exterior painting and partial replacement of unit carpeting & linoleum flooring. There are a few components that were found to be in poor condition at the time of inspection and have been programmed for the year 2000. These include repairing & re- coating concrete decks & walkways, sealing all asphalt areas, replacing carpeting in (4) units and refurbishing 4 unit bathrooms. Interior components such as refrigerators and stoves had a variety of conditions and we have programmed these components for partial replacement each cycle. Based on our assessment and evaluation of the complex, we are recommending minimum capital contribution set-aside of $1,400 per month during the initial year of this Report (year 2000). This is also based on the assumption that a starting Reserve Cash Balance of $86,295 is available as of 1/1/2000. It also assumes that any interest earnings on the Reserve deposits will accrue to the Reserve fund. Our 30-year analysis assumes that future set-asides will need to be increased at the rate of 3% each year in order to offset inflation.. r.. Association Reserves, Inc. Executive Summary® 8213-0 COMPONENTS REQUIRING RESERVE FUNDING SUMMARY Taos Palms Apartments USEFUL REMAINING LIFE LIFE CURRENT FUTURE # Component (YRS) (YRS) COST COST 103 CONCRETE DECK/WALK- REPAIR 20 0 $4,950 $8,940 104 CONC DECK/WALKS- RECOAT 5 0 $2,045 $2,371 201 ASPHALT - RESURFACE 20 5 $11,395 $13,210 202 ASPHALT- SEAL/REPAIR 5 5 $1,220 $1,414 303 HVAC UNITS - REPLACE 20 5 $31,500 $36,517 303 HVAC UNITS - REPLACE 20 18 $4,500 $7,661 320 POLE LIGHTS - REPLACE 20 10 $1,100 $1,478 403 MAILBOXES - REPLACE 15 9 $695 $907 503 METAL FENCE/RAIL- REPAIR 8 3 $695 $759 601 CARPET- REPLACE (A) 6 0 $1,900 $2,269 601 CARPET- REPLACE (B) 6 2 $2,363 $2,506 601 CARPET- REPLACE (C) 6 5 $3,325 $3,855 602 LINOLEUM FLOOR - REPLACE (A) 6 2 $713 $756 602 LINOLEUM FLOOR - REPLACE (B) 6 4 $700 $788 602 LINOLEUM FLOOR - REPLACE (C) 6 5 $1,500 $1,739 803 WATER HEATERS - REPLACE (A) 12 1 $5,400 $5,562 803 WATER HEATERS - REPLACE (B) 12 3 $6,075 $6,638 904 KITCHEN COUNTER/CABINET- REPLA 25 23 $44,000 $86,838 908 WINDOW TREATMENTS - REPLACE 15 7 $14,400 $17,710 909 BATHROOMS - REFURBISH 5 0 $5,400 $6,260 920 REFRIGERATOR - REPLACE 3 1 $2,100 $2,163 922 OVENS - REPLACE 3 2 $2,700 $2,864 1107 METAL FENCE/RAIL- REPAINT 4 3 $655 $716 1115 STUCCO - REPAINT 10 9 $8,640 $11,273 1116 WOOD SURFACES - REPAINT 5 4 $7,630 $8,588 1202 POOL- RESURFACE 12 6 $4,200 $5,015 1207 POOL FILTER - REPLACE 15 5 $1,000 $1,159 1208 POOL HEATER - REPLACE 12 6 $2,025 $2,418 1301 ASPHALT/GRAVEL ROOF - REPLACE 12 11 $17,460 $24,169 1311 SKYLIGHTS - REPLACE 25 11 $6,000 $8,305 1808 TREES -TRIM 4 2 $1,750 $1,857 31 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES, INC. EXECUTIVE SUMMARY INTRODUCTION 'g` The property described herein is a small 16-unit apartment building. This development includes a pool area, surface parking and laundry facilities. We believe the fundamental responsibility of the ownership is to protect and maintain the facility assets, to maximize their utility and maximize property values. A key element in being able to make responsible future plans is the existence of a reliable Capital Replacement Plan. Budgeting properly for upcoming Capital Repairs and Replacements means establishing a "method of funding" that accommodates long-term Capital expenditures arising from the future repair, replacement, and additions to those major components which the ownership is obligated to maintain. It is also wise to spread these repair and replacement costs evenly over the years to stabilize cash flow issues. A Capital Replacement Plan is designed to help the ownership address the funding and timing of future repair, replacement, and additions to the property, facility, and related systems. This involves: 1) identifying the major common area components appropriate for Capital Planning, 2) projecting the Useful Life, Remaining Useful Life and replacement cost of these common area components, and 2) projecting an array of future expenditures from these components. This Capital Replacement Plan assists the managing agent by providing some information in the area of Capital Planning. It remains the responsibility of the managing agent and ownership to budget appropriately in light of their Capital Replacement requirements, planning ahead as appropriate to minimize negative financial and physical implications to the building. Lenders, insurance carriers, and accounting professionals are increasing their scrutiny of the physical and financial assets of the property. This document is intended to provide a clear and independent review of the status of the building, projecting upcoming expenses for internal and external disclosure purposes. saw Association Reserves, Inc. 1 Capital Replacement Plan OBJECTIVES AND METHODOLOGY The objectives of this Capital Replacement Plan are: 1. To compile a useful, informative inventory of all common area components 2. To determine which components are appropriate for Capital funding 3. To project future Capital spending requirements This Study addresses the normal deterioration of properly built and installed components with predictable life expectancies, above a minimum threshold cost. The inspection and evaluation of plumbing, electrical wiring, and telephone lines is specifically excluded from this Study on the basis that these components are inaccessible and have indeterminate life expectancies. This Study also excludes the evaluation of repairs or replacements arising from original construction defects, environmental hazards (radon, asbestos, etc.), and acts of nature. If the scope, magnitude and timing of such issues have been disclosed, a reasonable effort has been made to incorporate these repair and replacement expenses in this study. First, a list of major components which the ownership is responsible to maintain is established. This is determined by a discussion with the managing agent and an investigating the history of any precedents that have been set, then performing an onsite inspection of the property. These common area components are then visually inspected and inventoried. The Useful Life, Remaining Useful Life, and Current Replacement Cost of each component that requires Capital funding is established. Replacement costs are most often estimated from our internal database of "actual" costs experienced by similar client properties. As a backup, we may interview vendors familiar with the building or compare our cost estimates with standard construction industry estimating techniques. A high "worst case" and low "best case" estimate is determined for each component. This information is then entered into a custom-designed computer program which projects future costs over a 30 year period. These projections are based on current estimated replacement costs, adjusted in future years by the assumed values of inflation (3% in this document). This Report graphically displays a projection of the property's financial future, providing a "blueprint" of upcoming anticipated capital expenditures. This graphically presents the short term and long term need for appropriate budgeting, and the short and long term effects that inflationary trends have on the Capital funding obligations. Association Reserves, Inc. 2 Capital Replacement Plan GENERAL ASSUMPTIONS The information contained in this study was compiled from a number of sources familiar with the history and operating practices of the building. These included: contractor involved with the renovation, City personnel, (future) management personnel, and the roofing sub-contractor. The long term nature of this study requires that certain assumptions and predictions be made about future events. Since there can be no guarantee that such future events will actually occur, it is important that the recommendations always be viewed in light of circumstances at the time the recommendations were made. Every reasonable effort has been made to insure that the recommendations in this report are based on reliable information. It is also important to remember that the recommendations in this study are for the base year period only. Even though Capital expenditures are projected over a 30 year period, many factors can change over the course of a year, and they all may have some effect on the inter- relationship between projected expenditures and the accuracy of future projections. PRACTICAL CONSIDERATIONS If ownership of management wishes to adjust or possibly improve the building's cash flow situation, future Capital Replacement Plan updates can accommodate varying assumptions about postponing or phasing certain projects. These options have strategic advantages and disadvan- tages which the ownership and management must consider and weigh. 'Now Association Reserves, Inc. 3 Capital Replacement Plan • GENERAL REMARKS The Taos Palms Apartments include four separate one-story buildings with a total of (16) 2- bedroom units. The complex includes a pool, small laundry room and asphalt driveways & parking areas. The age of the buildings are unknown. The information in this Report is based "`"` on our on-site inspection of the property and some background investigation into recently completed projects. Since we did not have the benefit of observing your association over any significant period of time, we expect that future versions of this Report may contain revisions to life expectancies and life remaining estimates. The various building components identified for inclusion in the Capital Replacement Plan are summarized on Table 1 (page 6). This table also includes Useful Life & Remaining life estimates and replacement cost estimates for each component. A number of smaller components have not been included for funding due to their low cost or would be handled as on-going maintenance expenses. This would include sliding closet doors, exterior&interior light fixtures, interior painting and irrigation timer. A number of capital projects were recently completed. These include re-roofing all buildings, complete exterior painting and partial replacement of unit carpeting & linoleum flooring. There are a few components that were found to be in poor condition at the time of inspection and have been programmed for the year 2000. These include repairing & re-coating concrete decks & walkways, sealing all asphalt areas, replacing carpeting in (4) units and refurbishing 4 unit bathrooms. Interior components such as refrigerators and stoves had a variety of conditions and we have programmed these components for partial replacement each cycle. Based on our assessment and evaluation of the complex, we are recommending minimum capital contribution set-aside of $1,400 per month during the initial year of this Report (year 2000). This is also based on the assumption that a starting Reserve Cash Balance of $86,295 is available as of 1/1/2000. It also assumes that any interest earnings on the Reserve deposits will accrue to the Reserve fund. Our 30-year analysis assumes that future set-asides will need to be increased at the rate of 3% each year in order to offset inflation. The expenditures for future years can be summarized as follows: First five years: $49,855 5 to 10 years: $131,995 10 to 15 years: $100,643 15 to 20 years: $99,967 We hope this information is helpful to the Agency as you plan your long term budget. If there are any questions that arise from this Report, please feel free to contact our office for clarification. Now that the task of compiling the common area inventory has been completed, future annual updates to this Report will be made available for a reduced fee. We look forward to continued involvement with future Capital Replacement planning. Association Reserves, Inc. 4 Capital Replacement Plan O (4 (n \��\\\��\\ \\\\\ \ o W CE � \ 0 \ N N o o \ o \ o ZU \\ \ N h\\\\ \ W v' 1 n CC a. r)" Q t�\\\\\\\\\\\\ o w X § I. mt,___,\ c\1 W � o WM liessi indmoi \ \\A\'1 o `4' CC � wvv\v\\vw\� Q) t\\\\\\\\\\\\�\\\\\\\\\\\\\\\\\\\\\\\\\\_� o W 0) N (1) 1 Q . W C) o CIC S O N r 1 1 1 1 1 O O 0 0 0 0 0 0 O O O O O O O O N O Co CO d' N ta lr r Tp V V7 L J (spuesnoq ) SiVIO11d(1 NNV 8213-0 COMPONENTS REQUIRING RESERVE FUNDING TABLE 1 Taos Palms Apartments Useful Rem. Life Life Current Repl.Cost # Component Quantity (YRS) (YRS) Best Case Worst Case 103 CONCRETE DECK/WALK-REPAIR Approx 3720 GSF 20 0 $4,500 $5,400 104 CONC DECK/WALKS-RECOAT Approx 3720 GSF 5 0 $1,860 $2,230 201 ASPHALT-RESURFACE Approx 10,600 GSF 20 5 $9,540 $13,250 202 ASPHALT-SEAL/REPAIR Approx 10,600 GSF 5 5 $1,060 $1,380 303 HVAC UNITS-REPLACE (14)2-ton heat pumps 20 5 $28,000 $35,000 303 HVAC UNITS-REPLACE (2)2-ton heat pumps 20 18 $4,000 $5,000 320 POLE LIGHTS-REPLACE (4) Pole Fixture 20 10 $1,000 $1,200 403 MAILBOXES-REPLACE (16) Individual boxes 15 9 $640 $750 503 METAL FENCE/RAIL-REPAIR Approx 155 LF 8 3 $620 $770 601 CARPET-REPLACE(A) (4) Units,190 GSY 6 0 $1,700 $2,100 601 CARPET-REPLACE(B) (5) Units,235 GSY 6 2 $2,125 $2,600 601 CARPET-REPLACE (C) (7) units,330 GSY 6 5 $3,000 $3,650 602 LINOLEUM FLOOR-REPLACE(A) (4) Units,55 GSY 6 2 $650 $775 602 LINOLEUM FLOOR-REPLACE(B) (4) Units,55 GSY 6 4 $650 $750 602 LINOLEUM FLOOR-REPLACE(C) (8)units,115 GSY 6 5 $1,400 $1,600 803 WATER HEATERS-REPLACE(A) (8)40 Gal Heaters 12 1 $4,800 $6,000 803 WATER HEATERS-REPLACE(B) (9)40 Gal heaters 12 3 $5,400 $6,750 904 KITCHEN COUNTER/CABINET-REPLAC Approx 400 LF 25 23 $40,000 $48,000 908 WINDOW TREATMENTS-REPLACE (1600) GSF,Vert Blinds 15 7 $12,800 $16,000 909 BATHROOMS-REFURBISH (16) 5x7 baths 5 0 $4,800 $6,000 920 REFRIGERATOR-REPLACE (16) 18 cf.Refrigerators 3 1 $1,800 $2,400 922 OVENS-REPLACE (16) GE,4-Burner 3 2 $2,400 $3,000 1107 METAL FENCE/RAIL-REPAINT Approx 155 LF 4 3 $540 $770 1115 STUCCO-REPAINT Approx 12800 GSF 10 9 $7,680 $9,600 1116 WOOD SURFACES-REPAINT Approx'9250 GSF 5 4 $6,940 $8,320 1202 POOL-RESURFACE (1) Pool,115 LF 12 6 $3,800 $4,600 1207 POOL FILTER-REPLACE (1) Purex 48 GSF 15 5 $900 $1,100 1208 POOL HEATER-REPLACE (1)Teledyne 325000 BTU 12 6 $1,850 $2,200 1301 ASPHALT/GRAVEL ROOF-REPLACE Approx 10750 GSF 12 11 $16,120 $18,800 1311 SKYLIGHTS-REPLACE (16)2x3,acrylic 25 11 $5,600 $6,400 1808 TREES-TRIM (10) Mature Trees 4 2 $1,500 $2,000 31 COMPONENTS REQUIRING FUNDING ASSOCIATION RESERVES,INC. PAGE 6 8213-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2000 2001 2002 2003 2004 2005 2006 STARTING BALANCE $86,295 $91,463 $103,969 $117,121 $131,084 $142,349 $95,737 Annual Contribution $16,800 $17,304 $17,823 $18,358 $18,909 $19,476 $20,060 Interest Earnings $2,663 $2,928 $3,312 $3,718 $4,096 $3,567 $3,038 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $105,758 $111,694 $125,105 $139,197 $154,088 $165,392 $118,834 # Expenditures 103 CONCRETE DECK/WALK-REPAIR $4,950 $0 $0 $0 $0 $0 $0 104 CONC DECK/WALKS-RECOAT $2,045 $0 $0 $0 $0 $2,371 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $13,210 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $0 $0 $0 $1,414 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $36,517 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPAIR $0 $0 $0 $759 $0 $0 $0 601 CARPET-REPLACE(A) $1,900 $0 $0 $0 $0 $0 $2,269 601 CARPET-REPLACE(B) $0 $0 $2,506 $0 $0 $0 $0 601 CARPET-REPLACE(C) $0 $0 $0 $0 $0 $3,855 $0 602 LINOLEUM FLOOR-REPLACE(A) $0 $0 $756 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(B) $0 $0 $0 $0 $788 $0 $0 602 LINOLEUM FLOOR-REPLACE(C) $0 $0 $0 $0 $0 $1,739 $0 803 WATER HEATERS-REPLACE(A) $0 $5,562 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE(B) $0 $0 $0 $6,638 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $5,400 $0 $0 $0 $0 $6,260 $0 920 REFRIGERATOR-REPLACE $0 $2,163 $0 $0 $2,364 $0 $0 922 OVENS-REPLACE $0 $0 $2,864 $0 $0 $3,130 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $0 $716 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $8,588 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 $5,015 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $1,159 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 $2,418 1301 ASPHALT/GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $0 $0 1311 SKYLIGHTS-REPLACE $0 $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $1,857 $0 $0 $0 $2,090 Total Expenditures $14,295 $7,725 $7,983 $8,113 $11,739 $69,655 $11,791 ASSOCIATION RESERVES,INC. PAGE 7 8213-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2007 2008 2009 2010 2011 2012 STARTING BALANCE $107,043 $109,856 $127,376 $131,031 $138,407 $120,786 Annual Contribution $20,662 $21,282 $21,920 $22,578 $23,255 $23,953 Interest Earnings $3,249 $3,554 $3,871 $4,036 $3,883 $3,997 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $130,954 $134,691 $153,167 $157,645 $165,545 $148,736 # Expenditures 103 CONCRETE DECK/WALK-REPAIR $0 $0 $0 $0 $0 $0 104 CONC DECK/WALKS-RECOAT $0 $0 $0 $2,748 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAUREPAIR $0 $0 $0 $1,640 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $1,478 $0 $0 403 MAILBOXES-REPLACE $0 $0 $907 $0 $0 $0 503 METAL FENCE/RAIL-REPAIR $0 $0 $0 $0 $962 $0 601 CARPET-REPLACE(A) $0 $0 $0 $0 $0 $2,709 601 CARPET-REPLACE(B) $0 $2,993 $0 $0 $0 $0 601 CARPET-REPLACE(C) $0 $0 $0 $0 $4,603 $0 602 LINOLEUM FLOOR-REPLACE(A) $0 $903 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(B) $0 $0 $0 $941 $0 $0 602 LINOLEUM FLOOR-REPLACE(C) $0 $0 $0 $0 $2,076 $0 803 WATER HEATERS-REPLACE(A) $0 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE(B) $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $17,710 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $0 $7,257 $0 $0 920 REFRIGERATOR-REPLACE $2,583 $0 $0 $2,822 $0 $0 922 OVENS-REPLACE $0 $3,420 $0 $0 $3,737 $0 1107 METAL FENCE/RAIL-REPAINT $806 $0 $0 $0 $907 $0 1115 STUCCO-REPAINT $0 $0 $11,273 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $0 $9,955 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1301 ASPHALT/GRAVEL ROOF-REPLACE $0 $0 $0 $0 $24,169 $0 1311 SKYLIGHTS-REPLACE $0 $0 $0 $0 $8,305 $0 1808 TREES-TRIM $0 $0 $0 $2,352 $0 $0 Total Expenditures $21,098 $7,316 $22,135 $19,238 $44,759 $2,709 ASSOCIATION RESERVES,INC. PAGE 8 8213-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2013 2014 2015 2016 2017 2018 STARTING BALANCE $146,027 $164,333 $171,858 $179,307 $207,568 $229,445 Annual Contribution $24,671 $25,412 $26,174 $26,959 $27,768 $28,601 Interest Earnings $4,649 $5,036 $5,261 $5,795 $6,547 $7,042 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $175,347 $194,781 $203,292 $212,062 $241,883 $265,088 # Expenditures 103 CONCRETE DECK/WALK-REPAIR $0 $0 $0 $0 $0 $0 104 CONC DECK/WALKS-RECOAT $0 $0 $3,186 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $0 $1,901 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $7,661 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPAIR $0 $0 $0 $0 $0 $0 601 CARPET-REPLACE(A) $0 $0 $0 $0 $0 $3,235 601 CARPET-REPLACE(B) $0 $3,573 $0 $0 $0 $0 601 CARPET-REPLACE(C) $0 $0 $0 $0 $5,496 $0 602 LINOLEUM FLOOR-REPLACE(A) $0 $1,078 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(B) $0 $0 $0 $1,123 $0 $0 602 LINOLEUM FLOOR-REPLACE(C) $0 $0 $0 $0 $2,479 $0 803 WATER HEATERS-REPLACE(A) $7,930 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE(B) $0 $0 $9,465 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $0 $0 $8,413 $0 $0 $0 920 REFRIGERATOR-REPLACE $3,084 $0 $0 $3,370 $0 $0 922 OVENS-REPLACE $0 $4,084 $0 $0 $4,463 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $1,020 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $0 $11,541 $0 $0 $0 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $7,150 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $3,447 1301 ASPHALT/GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $0 1311 SKYLIGHTS-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $2,647 $0 $0 $0 $2,979 Total Expenditures $11,014 $22,923 $23,985 $4,493 $12,438 $24,472 ASSOCIATION RESERVES, INC. PAGE 9 8213-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2019 2020 2021 2022 2023 2024 STARTING BALANCE $240,615 $242,736 $243,536 $28'2,672 $287,087 $189,949 Annual Contribution $29,459 $30,343 $31,253 $32,191 $33,156 $34,151 Interest Earnings $7,241 $7,284 $7,883 $8,535 $7,146 $5,981 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $277,315 $280,363 $282,672 $323,397 $327,389 $230,081 # Expenditures 103 CONCRETE DECK/WALK-REPAIR $0 $8,940 $0 $0 $0 $0 104 CONC DECK/WALKS-RECOAT $0 $3,693 $0 $0 $0 $0 201 ASPHALT-RESURFACE $0 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $0 $2,203 $0 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $0 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $1,413 503 METAL FENCE/RAIL-REPAIR $1,219 $0 $0 $0 $0 $0 601 CARPET-REPLACE(A) $0 $0 $0 $0 $0 $3,862 601 CARPET-REPLACE(B) $0 $4,267 $0 $0 $0 $0 601 CARPET-REPLACE(C) $0 $0 $0 $0 ' $6,562 $0 602 LINOLEUM FLOOR-REPLACE(A) $0 $1,287 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(B) $0 $0 $0 $1,341 $0 $0 602 LINOLEUM FLOOR-REPLACE(C) $0 $0 $0 $0 $2,960 $0 803 WATER HEATERS-REPLACE(A) $0 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE(B) $0 $0 $0 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $86,838 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $27,592 $0 $0 909 BATHROOMS-REFURBISH $0 $9,753 $0 $0 $0 $0 920 REFRIGERATOR-REPLACE $3,682 $0 $0 $4,024 $0 $0 922 OVENS-REPLACE $0 $4,877 $0 $0 $5,329 $0 1107 METAL FENCE/RAIL-REPAINT $1,149 $0 $0 $0 $1,293 $0 1115 STUCCO-REPAINT $15,150 $0 $0 $0 $0 $0 1116 WOOD SURFACES-REPAINT $13,379 $0 $0 $0 $0 $15,510 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $0 1207 POOL FILTER-REPLACE $0 $1,806 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $0 1301 ASPHALT/GRAVEL ROOF-REPLACE $0 $0 $0 $0 $34,459 $0 1311 SKYLIGHTS-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $0 $0 $3,353 $0 $0 Total Expenditures $34,579 $36,827 $0 $36,310 $137,441 $20,785 ASSOCIATION RESERVES,INC. PAGE 10 8213-0 YEARLY CASH FLOW DETAIL(AVG CASE EXPENSES) TABLE 2 Year 2025 2026 2027 2028 2029 2030 STARTING BALANCE $209,295 $125,832 $149,966 $175,669 $213,530 $203,290 Annual Contribution $35,175 $36,231 $37,318 $38,437 $39,590 $40,778 Interest Earnings $5,020 $4,132 $4,878 $5,830 $6,244 $6,078 Supplemental Capital Contribs. $0 $0 $0 $0 $0 $0 TOTAL FUNDS AVAILABLE $249,491 $166,195 $192,162 $219,936 $259,365 $250,147 # Expenditures 103 CONCRETE DECK/WALK-REPAIR $0 $0 $0 $0 $0 $0 104 CONC DECK/WALKS-RECOAT $4,282 $0 $0 $0 $0 $4,964 201 ASPHALT-RESURFACE $23,859 $0 $0 $0 $0 $0 202 ASPHALT-SEAL/REPAIR $2,554 $0 $0 $0 $0 $2,961 303 HVAC UNITS-REPLACE $65,954 $0 $0 $0 $0 $0 303 HVAC UNITS-REPLACE $0 $0 $0 $0 $0 $0 320 POLE LIGHTS-REPLACE $0 $0 $0 $0 $0 $2,670 403 MAILBOXES-REPLACE $0 $0 $0 $0 $0 $0 503 METAL FENCE/RAIL-REPAIR $0 $0 $1,544 $0 $0 $0 601 CARPET-REPLACE(A) $0 $0 $0 $0 $0 $4,612 601 CARPET-REPLACE(B) $0 $5,095 $0 $0 $0 $0 601 CARPET-REPLACE (C) $0 $0 $0 $0 $7,836 $0 602 LINOLEUM FLOOR-REPLACE(A) $0 $1,537 $0 $0 $0 $0 602 LINOLEUM FLOOR-REPLACE(B) $0 $0 $0 $1,602 $0 $0 602 LINOLEUM FLOOR-REPLACE(C) $0 $0 $0 $0 $3,535 $0 803 WATER HEATERS-REPLACE(A) $11,306 $0 $0 $0 $0 $0 803 WATER HEATERS-REPLACE(B) $0 $0 $13,494 $0 $0 $0 904 KITCHEN COUNTER/CABINET-REP $0 $0 $0 $0 $0 $0 908 WINDOW TREATMENTS-REPLACE $0 $0 $0 $0 $0 $0 909 BATHROOMS-REFURBISH $11,306 $0 $0 $0 $0 $13,107 920 REFRIGERATOR-REPLACE $4,397 $0 $0 $4,805 $0 $0 922 OVENS-REPLACE $0 $5,823 $0 $0 $6,363 $0 1107 METAL FENCE/RAIL-REPAINT $0 $0 $1,455 $0 $0 $0 1115 STUCCO-REPAINT $0 $0 $0 $0 $20,361 $0 1116 WOOD SURFACES-REPAINT $0 $0 $0 $0 $17,981 $0 1202 POOL-RESURFACE $0 $0 $0 $0 $0 $10,195 1207 POOL FILTER-REPLACE $0 $0 $0 $0 $0 $0 1208 POOL HEATER-REPLACE $0 $0 $0 $0 $0 $4,915 1301 ASPHALT/GRAVEL ROOF-REPLACE $0 $0 $0 $0 $0 $0 1311 SKYLIGHTS-REPLACE $0 $0 $0 $0 $0 $0 1808 TREES-TRIM $0 $3,774 $0 $0 $0 $4,248 Total Expenditures $123,659 $16,228 $16,493 $6,406 $56,074 $47,671 ASSOCIATION RESERVES,INC. PAGE 11 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 103 CONCRETE DECK/WALK-REPAIR ,.,r Quantity: Approx 3720 GSF Location: Throughout common area Evaluation: Overall fair condition, isolated cracks, repairs needed at this time to restore condition. No expectation to replace all,but plan on repairs or partial replacement ; . .rfr\', Useful Life: • 20 years Remaining Life: , +r 0 years `, .a ,l :-. f4Jfix, ;. . Best Case: $4,500.00 Worst Case: $5,400.00 $6/GSF x 20%of total,Allowance for repairs and $7.25/GSF x 20%, Higher allowance partial replacement Cost Source: ARI Cost Database Comp#: 104 CONC DECK/WALKS-RECOAT `"` Quantity: Approx 3720 GSF Location: Walkways, pool deck Evaluation: Extensive chipping and peeling,very unattractive appearance. Needs recoating now to restore appearance. Plan on 5-year cycle for future coatings. 1 Useful Life: J 5 years ,4.„,ir 4-- Remaining Life: IPPP';II,*LaPw f "'0* ,,-' 0 years . 414."fi, , '�^ , Best Case: $1,860.00 Worst Case: $2,230.00 $0.50/GSF, Estimate to recoat $0.60/GSF, Higher estimate Cost Source: ARI Cost Database ° void February 29,2000 Page 1 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms "is. Comp#: 201 ASPHALT-RESURFACE Quantity: Approx 10,600 GSF Location: Driveways Evaluation: Older surfaces,general wear and tear, slurry coating will help restore condition,but plan on complete overlay in approximately 5 years. .5, Useful Life: 20 years * " ---- - r • Remaining Life: 5 years . ` " " � s k 'y '. .,„. , 4t. ip Best Case: $9,540.00 Worst Case: $13,250.00 $0.90/GSF, Estimate to resurface $1.25/GSF, Higher estimate Cost Source:ARI Cost Database Comp#: 202 ASPHALT-SEAL/REPAIR Quantity: Approx 10,600 GSF Location: Driveways Evaluation: Advanced surface wear, loss of seal, aggregate is loose. Recommend complete sealing at this time. t Y . ' 11 ._ Useful Life: 5 years - ?`-� Remaining Life: 5 years 44. t__ .; Best Case: $1,060.00 Worst Case: $1,380.00 $0.10/GSF, Estimate for sealing and minor repairs $0.13/GSF, Higher estimate, more extensive repairs Cost Source: ARI Cost Database February 29,2000 Page 2 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 303 HVAC UNITS-REPLACE Quantity: (14)2-ton heat pumps Location: Roof Evaluation: Older units, still in good working order at this time. No exterior signs of unusual wear,well maintained and serviced as needed. Expect at least 5 more years. --+ Useful Life: - 20 years Remaining Life: 5 years t:a Best Case: $28,000.00 Worst Case: $35,000.00 $2,000/unit, Estimate to replace $2,500/unit, Higher estimate Cost Source:ARI Cost Database Comp#: 303 HVAC UNITS-REPLACE Quantity: (2)2-ton heat pumps Location: Roof Evaluation: Newer units, replacement in the last 2-3 years assumed. Expect full useful life. 1 am Useful Life: 20 years Remaining Life: w 18 years Best Case: $4,000.00 Worst Case: $5,000.00 $2,000/unit, Estimate to replace $2,500/unit, Higher estimate Cost Source:ARI Cost Database voof February 29,2000 Page 3 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 320 POLE LIGHTS-REPLACE Quantity: (4) Pole Fixture Location: Interior courtyard Evaluation: All are intact and functional,structurally sound and stable, overall good to fair condition. Extended life possible, but plan on future replacement visa Useful Life: "": 20 years • Remaining Life: I .t ; ; 10 years Best Case: $1,000.00 Worst Case: $1,200.00 $250/fixture, Estimate to replace $300/fixture, Higher estimate Cost Source: ARI Cost Database Comp#: 324 WALL LIGHTS-REPLACE Nes Quantity: Approx 32 fixtures Location: Exterior walls Evaluation: Conditions vary somewhat depending on location and level of exposure. Overall fair condition. No expectation to replace all at one time. Replace on as-needed basis as operating expense. ter ° Useful Life: A' Remaining Life: Best Case: Worst Case: Cost Source: February 29,2000 Page 4 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 325 INTERIOR LIGHTS-REPLACE Quantity: Extensive fixtures Location: Interior of units Evaluation: Varying conditions, no expectation to replace all fixtures at same time. Individual replacement cost is relatively low. Replace fixtures on as-needed basis as operating expense. Useful Life: .1. , ,,,- Remaining Life: 4 -are, Best Case: Worst Case: Cost Source: Comp#: 403 MAILBOXES-REPLACE Quantity: (16) Individual boxes Location: Adjacent to main entrance Evaluation: Overall good to fair condition and appearance, minimal surface wear, all boxes are intact, minor scratching of finish. Outside location will tend to shorten useful life. x t # - a--`OV— "# r1 % A - Useful Life: 15 years ' • III ' Remaining Life: ' 9 years ....,, -' Best Case: $640.00 Worst Case: $750.00 $40/box, Estimate to replace $47/box, Higher estimate Cost Source:ARI Cost Database February 29,2000 Page 5 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 503 METAL FENCE/RAIL-REPAIR Quantity: Approx 155 LF Location: Pool perimeter,various gates Evaluation: All sections intact, minor structural instability noted. No expectation to completely replace under normal conditions,but plan on repairs or partial replacement. ,, "1-0141.1111111Ptikiff„. . .0,- ii1 i 1111 i /I. Useful Life: 11.141tr..1.1.'11 1 "*. al iti ® r 8years ` 311 ��...111110 Remaining Life: Best Case: $620.00 Worst Case: $770.00 $4/LF,Allowance for repairs and partial replacement $5/LF, Higher allowance Cost Source: ARI Cost Database Comp#: 601 CARPET-REPLACE(A) QuantitY: ( ) 4 Units, 190 GSY Location: Units Evaluation: Older carpeting, significant wear in high-traffic areas, some staining noted. Recommend replacement at this time. 41 Useful Life: '' a 6 years "., S 'k .�' 8) Remaining Life: lopt 0 years $0 Best Case: $1,700.00 Worst Case: $2,100.00 $9/GSY, Estimate to replace $11.00//GSY, Higher estimate Cost Source: Client Cost History February 29,2000 Page 6 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 601 CARPET-REPLACE(B) .. Quantity: (5) Units,235 GSY Location: Units Evaluation: Overall fair condition, some fading and moderate wear and tear,expect 2 more years before replacement. Plan on 10-year replacement cycle. it 0 t Useful Life: 6 years Remaining Life: 2 years ___ Best Case: $2,125.00 Worst Case: $2,600.00 $9/GSY, Estimate to replace $11.00/GSY, Higher estimate Cost Source: Client Cost History Comp#: 601 CARPET-REPLACE(C) Quantity: (7) units, 330 GSY Location: Units Evaluation: Near new condition and appearance, no signs of wear, recently installed(1999). Expect full useful life. Useful Life: 6 years Remaining Life: Photo Not Available 5 years I Best Case: $3,000.00 Worst Case: $3,650.00 $9.00/GSY, Estimate to replace $11.00/GSY, Higher estimate Cost Source: Client Cost History February 29,2000 Page 7 of 20 1 I Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms leo Comp#: 602 LINOLEUM FLOOR-REPLACE(A) Quantity: (4) Units,55 GSY Location: Unit kitchens,dining area Evaluation: General wear, older material,still in satisfactory condition,overall fair condition and appearance. Expect 2-3 more years before replacement lovet tci Useful Life: 6 years , Remaining Life: ' 2 years , f )1\ Best Case: $650.00 Worst Case: $775.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source: Client Cost History rComp#: 602 LINOLEUM FLOOR-REPLACE(B) Quantity: (4) Units,55 GSY Location: Unit kitchens,dining areas Evaluation: Overall fair condition, some wear, appearance is adequate. Plan on replacing in next 4-5 years. r- , �. Useful Life: ."� }• . .. . . • 6 years Remaining Life 4 years t Best Case: $650.00 Worst Case: $750.00 $12/GSY, Estimate to replace $14/GSY, Higher estimate Cost Source:Client Cost History IIII February 29,2000 Page 8 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 602 LINOLEUM FLOOR-REPLACE(C) Quantity: (8)units, 115 GSY Location: Unit kitchens,dining areas Evaluation: Recently installed (1999), near new condition and appearance. Useful Life: 6 years Remaining Life: Photo Not Available 5 years Best Case: $1,400.00 Worst Case: $1,600.00 $12.00/GSY, Estimate to replace $14.00/GSY, Higher estimate Cost Source:Client Cost History Comp#: 709 CLOSET DOORS-REPLACE Quantity: (64)Sliding Doors ' Location: Bedrooms at units Evaluation: Conditions vary from unit to unit, but overall fair. Expect to repair or replace on an individual basis in the future as required. No Reserve funding required. 1 Useful Life: I Remaining Life: Photo Not Available I i Best Case: Worst Case: Cost Source: wadad February 29,2000 Page 9 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 803 WATER HEATERS-REPLACE(A) Quantity: (8)40 Gal Heaters Location: Utility room in units Evaluation: These are older heaters. Still in functional condition. Assume fair to poor condition based on age and observed condition of tanks. Plan on replacing in near future. i Useful Life: - Z 12 years ►r, Remaining Life: 1 years t 4 ; ', Best Case: $4,800.00 Worst Case: $6,000.00 $600 per heater, Estimate to replace $750 per heater, Higher estimate Cost Source: ARI Cost Database Now Comp#: 803 WATER HEATERS-REPLACE(B) Quantity: (9)40 Gal heaters Location: Utility room area in units Evaluation: Overall fair condition. Not new,but in serviceable condition. No leaks observed. Expect replacement in next 3-4 years. Useful Life: 12 years .. Remaining Life: 3 years '',:`::!::-: --.1-.2.:'-' r <7 lio atfl`7 t -^"` �... �P Tate.. rill Best Case: $5,400.00 Worst Case: $6,750.00 $600 per heater, Estimate to replace $750 per heater, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 10 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 904 KITCHEN COUNTER/CABINET-REPLACE Quantity: Approx 400 LF Location: Kitchens Evaluation: Relatively newer cabinetry,average quality. No signs of abuse or excessive wear. Expect 25-year life (approximately)in this application. i , Useful Life: t. 25 years Remaining Life: 23 years 4 i i w` 0 .11. ill , Al*it Best Case: $40,000.00 Worst Case: $48,000.00 $100/LF, Estimate to replace $120/LF, Higher estimate Cost Source: ARI Cost Database Comp#: 908 WINDOW TREATMENTS-REPLACE t Quantity: (1600)GSF,Vert Blinds Location: Unit interiors Evaluation: Moderate wear,current appearance is fair at this time. Fairly durable material with extended life possible, but plan on future replacement. Useful Life: 15 years '" Remaining Life: 7 years ..i , .- ,- r'-'t.9 t,, f a _. Best Case: $12,800.00 Worst Case: $16,000.00 $8 GSF, Estimate to replace $10 GSF, Higher estimate Cost Source: ARI Cost Database a February 29,2000 Page 11 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Nils, Comp#: 909 BATHROOMS-REFURBISH Quantity: (16) 5x7 baths Location: One at each unit Evaluation: Conditions vary from good to poor. Some flooring is older with some curling and significant surface wear,tile tub backs are fair. No expectation to refurbish all at one time. Plan on doing 4 baths every 5 years on average. Useful Life: �. 5 years Remaining Life: 0 years Best Case: $4,800.00 Worst Case: $6,000.00 $1200/bath x 4 units,Allowance for flooring,tile, $1500/bath x 4 units, Higher allowance. fixtures,etc. Cost Source:ARI Cost Database Comp#: 910 LAUNDRY ROOM-REFURBISH Quantity: (1)6 x 8 Room Location: Adjacent to building. Evaluation: Relatively small room with minimal maintenance required. Refurbishing cost to small for Reserve designation. Maintain on as-needed basis as operating expense. Useful Life: Remaining Life: ' • • Best Case: Worst Case: Cost Source: February 29,2000 Page 12 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 920 REFRIGERATOR-REPLACE V Quantity: (16) 18 cf. Refrigerators Location: Kitchens Evaluation: Conditions and ages vary from unit to unit,Typical life expectancy is 12 years. Plan on replacing approximately 4 refrigerators(25%of total)every 3 years on average. Useful Life: 3 years `" Remaining Life: ,--- 1 years - r: . i ' .; Best Case: $1,800.00 Worst Case: $2,400.00 $450/unit x 4 units, Estimate for partial replacement $600/unit x 4 units, Higher cost Cost Source:ARI Cost Database Comp#: 922 OVENS-REPLACE Quantity: (16)GE,4-Burner Location: Kitchens Evaluation: All reported in functional condition at this time. Conditions vary from unit to unit. Stoves/ovens are generally fairly durable and should last 12-20 years. Plan on replacing approx 4 stoves every 3 years (25%of total) ----"' 111401r '''. Useful Life: -.. -, ; =✓� 3 years r _ _ Remaining Life: 2 years t 11\t .....---amix100"......... '' °; p„ a l_a Best Case: $2,400.00 Worst Case: $3,000.00 $600/stove x 4 Units, Estimate to replace $750/stove x 4 units, Higher estimate Cost Source:ARI Cost Database 3 February 29,2000 Page 13 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms `, Comp#: 924 GARBAGE DISPOSAL-REPLACE Quantity: (16) 1/2 HP Disposals Location: Under kitchen sinks Evaluation: Conditions vary depending on age, some are newer than others. Expect to replace on an ongoing basis as needed. Cost is relatively small and should be operating expense. *..4 Useful Life: Remaining Life: 4 ` r • Best Case: Worst Case: Cost Source: 'IgorComp#: 1003 IRR.TIMECLOCKS-REPLACE Quantity: (1) Rainbird ESP-8 Location: Pool equipment area Evaluation: Newer controller with no reported problems. Very small replacement cost. Replace in future on as-needed basis as operating expense. • Useful Life: Remaining Life: • t. Best Case: Worst Case: Cost Source: tilow February 29,2000 Page 14 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1005 LANDSCAPE- REPLENISH Quantity: Approx 4800 GSF Location: Courtyard and front of property Evaluation: Plant material is generally healthy and well maintained and irrigated. Some turf areas are thin. Replacement of this asset is typically carried out as landscape maintenance expense and not Reserves. • Useful Life: .` ,1 omplaUe. le _ • Remaining Life: i f.. 5 r , . .. , _. ...,. . . •• , k —cif, Best Case: Worst Case: Cost Source: Comp#: 1101 FRONT DOORS- REPAINT Quantity: (32) 3x7 French Doors i Location: Entry to each unit (one pair at each unit) Evaluation: Recently painted as part of wood trim. Include future painting with other wood surfaces(see Comp#1116). Useful Life: f r r Remaining Life: ., : r _ ,._ , i , � ZZ— . ... ...,..-:,_ _ f f 4 Best Case: Worst Case: Cost Source: 1 February 29,2000 Page 15 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1107 METAL FENCE/RAIL- REPAINT Quantity: Approx 155 LF Location: Pool perimeter,various gates Evaluation: Overall good condition and appearance,surfaces are generally bright and shiny. No fading or surface wear noted. • t •^ < Useful Life: 111111 , 4 years 1011 III/ Remaining Life: 3 years iIi1II1IiDlJ,a,1 • Best Case: $540.00 Worst Case: $770.00 $3.50/LF, Estimate to paint $5.00/LF, Higher estimate Cost Source:ARI Cost Database Comp#: 1110 INTERIOR SURFACES-REPAINT Quantity: Approx 35460 GSF Location: Unit interior walls&ceilings Evaluation: Conditions and appearance varies, some surfaces are better than others. Expect all interior painting to be accomplished on as-needed basis as a maintenance issue. Useful Life: -t 1 Remaining Life: 'r Best Case: Worst Case: Cost Source: February 29,2000 Page 16 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1115 STUCCO-REPAINT Quantity: Approx 12800 GSF Location: Exterior building surfaces Evaluation: Recently painted, good coverage, uniform color,very good appearance. Expect 10-year painting cycle for all stucco. Useful Life: to404. ji, 10years ow .ww MOW>R Ilirn Remaining Life: fart INN 10" 9 years - Asp4.. OP Best Case: $7,680.00 Worst Case: $9,600.00 $0.60/GSF, Estimate to paint $0.75/GSF, Higher estimate Cost Source:ARI Cost Database Comp#: 1116 WOOD SURFACES-REPAINT Quantity: Approx 9250 GSF Location: Building exterior trim,decorative trellis,divider fencing. Evaluation: Recently painted,overall good condition and appearance, no fading, good coverage. Expect 5-year life cycle under normal conditions. _a ___ Useful Life: " 5 years .— r-- .AO Remaining Life: „ _ " .e•. 4 years .... ' f TlirY w.......".i. Best Case: $6,940.00 Worst Case: $8,320.00 $0.75/GSF, Estimate to paint $0.90/GSF, Higher estimate Cost Source: ARI Cost Database February 29,2000 Page 17 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1202 POOL- RESURFACE Quantity: (1) Pool, 115 LF Location: Center of property Evaluation: Plaster is generally smooth with minimal pitting, some discoloration. Tile surface are older, but currently intact. Overall fair condition. Useful Life: . - , �, )#. ,�, 12 years f Remaining Life: F w"' 6 years , , 'A T , -_ �e. ,,,-;_-_: .,--.,.... Best Case: $3,800.00 Worst Case: $4,600.00 Estimate to resurface Higher estimate Cost Source: ARI Cost Database Comp#: 1207 POOL FILTER- REPLACE Quantity: (1) Purex 48 GSF Location: Pool equipment area, exposed Evaluation: Adequate water pressure and flows at this time,exterior of canister exhibits moderate wear. Fully functional and overall fair condition at this time. I Useful Life: 15 years Remaining Life: `de s # -i 5 years of c, ,,.. F.. �S f 1111." . --., i '-, tirig /410 - - , ..- Best Case: $900.00 Worst Case: $1,100.00 Estimate to replace Higher estimate Cost Source: Research with Local Vendor/Contractor February 29,2000 Page 18 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1208 POOL HEATER-REPLACE Quantity: (1)Teledyne 325000 BTU Location: Pool equipment area,exposed Evaluation: Moderate rusting and scaling of burners, heater is fully functional at this time. Exposed location will tend to shorten useful life. Useful Life: " * 12 years �- �. llir, 1 Remaining Life: - , 6years ,rr �,. •ti + Mt its MOP9 ;f Best Case: $1,850.00 Worst Case: $2,200.00 Estimate to replace Higher estimate Cost Source: Research with Local Vendor/Contractor Comp#: 1301 ASPHALT/GRAVEL ROOF-REPLACE -4400 Quantity: Approx 10750 GSF Location: Rooftop of buildings Evaluation: Near new condition, re-roofed in 1999.Good drainage, no sings of wear or aging. Expect 12-year useful life. • r „ t• Useful Life: — 12 years �.._ —is Remaining Life: j: • - 41... 11 years r .*+.. .. Best Case: $16,120.00 Worst Case: $18,800.00 $1.50/GSF, Estimate to re-roof $1.75/GSF, Higher estimate Cost Source: Client Cost History February 29,2000 Page 19 of 20 Association Reserves, Inc. Inventory Appendix Client: 8213A Taos Palms Comp#: 1311 SKYLIGHTS-REPLACE Quantity: (16)2x3,acrylic Location: Roof Evaluation: All appear intact,good flashing, no reported leaks. Extended life possible, but plan on future replacement. Coordinate with next re-roofing. Useful Life: ; _ r ,5 ` 25 years �i; ,,f • Remaining Life: , 11 years _, . '^ ' ; , %, • r� ti Best Case: $5,600.00 Worst Case: $6,400.00 $350/skylight, Estimate to replace $400/skylight, Higher estimate Cost Source: ARI Cost Database Comp#: 1808 TREES-TRIM Nov Quantity: (10) Mature Trees Location: Throughout common areas Evaluation: Minimal overgrowth, good to fair shape. Plan on 4-year cycle for trimming. p. T C Useful Life: •. 4 years •Remaining Life: �_ '. ''' 2 years " . • - • Best Case: $1,500.00 Worst Case: $2,000.00 $150/tree, Estimate to trim $200/tree, Higher estimate Cost Source:ARI Cost Database tow February 29,2000 Page 20 of 20