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HomeMy WebLinkAboutEstablish a Replacement Reserve Fund for Properties Operated by PD Housing Authoirity PALM DESERT REDEVELOPMENT AGENCY/ PALM DESERT HOUSING AUTHORITY STAFF REPORT REQUEST: AUTHORIZATION TO ESTABLISH A REPLACEMENT RESERVE FUND FOR PROPERTIES OPERATED BY THE HOUSING AUTHORITY SUBMITTED BY: Janet M. Moore, Director of Housing DATE: February 10, 2011 CONTENTS: Reserve Study Summary Five-Year Deposit and Expense Lists (California Villas, Candlewood, Catalina Gardens, Desert Pointe, La Rocca Villas, Laguna Palms, Las Serenas, Neighbors, One Quail Place, Palm Village, Pueblos, and Taos Palms) Sample Report* for Catalina Gardens *A complete copy of all reports (the Reserve Study) is on file in the office of the City Clerk. Recommendation By Minute Motion that the Agency and Authority Boards: 1) Authorize the Director of Finance to establish a Reserve Fund ("Fund") in the amount of $3,587,500 for the properties identified below operated by the Housing Authority; and 2) Authorize the Director of Finance to make the first annual deposit based on the Association Reserves, Inc. (ARI) studies of $1,775,600 and annually deposit the ARI recommended amount for five years with a review of the Fund's use after three years; and 3) Allow the use of the Fund in the event of a major disaster, for any expenditures that would be needed immediately in order to secure the properties until such time as additional aid could be obtained. (The Fund would be replenished as monetary aid becomes available); and 4) Appropriate funds from the unobligated Housing Set-Aside fund for this purpose. Commission Recommendation The Housing Commission will review the recommendation at the regularly scheduled meeting of February 9, 2011. Staff will provide a verbal report upon request at the Authority Board. Staff Report - Replacement Reserve Analysis February 10, 2011 Page 2 of 4 Executive Summary A full replacement reserve study was completed on certain Housing Authority operated properties. The purpose of the study was to obtain a complete inventory of physical assets at each property, their condition, value and schedule for replacement. The replacement schedule includes costs in order to recommend an amount to reserve annually for the purpose of long-term maintenance. Although there are several methods of funding the reserve based on the results of the study, staff recommends a conservative approach which attempts to evenly distribute contributions in order to responsibly plan for long-term maintenance. The recommended initial special appropriation, because no reserve is currently established, is $3,587,500. The recommended first year contribution is $1,775,600. Staff recommends that the Director of Finance be authorized to establish the Fund and make the noted deposits immediately. Background During the 2009-2010 fiscal year budget process, the Agency Board requested that staff conduct a full replacement reserve study for certain Housing Authority properties. The ultimate goal of the study was to prepare a realistic funding plan for reserves. The study was to provide the Agency with a complete up-to-date inventory of physical assets of each designated property, including their condition, value, replacement cost as well as an expected replacement schedule. The study would also include a 30-year funding plan that the Agency could use as a long-term planning tool for budgeting, as well as a guideline for expected replacements and deferred maintenance. ARI was selected as the most qualified consultant through an extensive RFP process. ARI began work by visiting each site and doing an inventory of physical assets. ARI then identified the condition of a sampling of like assets and assigned a replacement value along with an anticipated replacement date. Staff and ARI had extensive communications on the first drafts prior to ARI resuming work on the remainder of the study to identify concerns over the samplings, assumptions as to the asset's conditions, and the calculations for both the `special appropriation' and the annual contributions. ARI confirmed that the study was based on industry standards and experience with similar properties and equipment. This was a lengthy process but staff feels that the reviews were necessary to ensure that the information was useful to the Agency and Authority for the purpose of planning for the next five years. Staff compared the recommended replacements that are identified in the next five years and found them to be consistent with the Authority's past experience as well as the currently planned projects for the properties. Such replacements includes; unit renovations; HVAC replacements; appliance replacements; roof repair; pool resurfacing; exterior painting; deck repair/replacements; fencing/wall repair and replacement. G:\rda\Patty Leon\JMM\staff report\Reserve Study Staff Report 2-10-11.doc Staff Report - Replacement Reserve Analysis February 10, 2011 Page 3 of 4 In order to determine the appropriate balance for the Fund, ARI's reports detail the differences between a `Fully Funded Reserve Balance' (100%), a 'Baseline Reserve Balance' (less than 20%) and a 'Threshold Reserve Balance' (between 20% and 100%). The Fully Funded Reserve Balance is currently calculated to be $11,312,624 for the identified properties. Staff does not recommend that this amount be deposited at this time because the same results can be achieved through a proportional process utilizing the Threshold Reserve method. The long-term goal is to have evenly distributed contributions, after the initial appropriation, to responsibly plan for long-term deferred maintenance. Using ARI's Threshold Reserve recommendations, the initial special appropriation and first annual contribution are summarized as follows: (1- n'.Fq i 4 `76I Aa1Fil (;) ,c ";, d_t,a 't e`k-: +l,t, .F � � � �B Amy +ra,. W wY^48.11`.10401!. California Villas - 225,000 225,000 Candlewood 700,000 45,000 745,000 Catalina Gardens 550,000 95,000 645,000 Desert Pointe - 96,000 96,000 La Rocca Villas - 25,000 25,000 Laguna Palms - 62,900 62,900 Las Serenas 277,500 283,000 560,500 Neighbors 280,000 45,000 325,000 One Quail Place 1,600,000 750,000 2,350,000 Palm Village - 76,500 76,500 Pueblos 180,000 25,000 205,000 Taos Palms - 47,200 47,200 Total 3,673,000 1,775,600 5,363,100 + 5% increase annually During the first five years, if all the replacements are completed, the Fund ranges from 18% to 41% funded. It is possible that some of the anticipated replacements will not be necessary which will raise the funded percentage of the Fund. With the 5 percent (5%) increases to contributions annually, and special appropriations of $477,500 in 2011/2012, $200,000 in 2012/2013, and $200,000 in 2013/2014, staff considers this approach conservative, but appropriate for long-term planning. Staff also recommends reevaluating the deposits at the end of the third year to ensure that the Fund balance is still adequate. Although not a part of the study, staff additionally recommends that in the event of a major disaster that the Fund balance be made available for any necessary expenditures that would be needed immediately in order to secure the properties until such time as additional aid could be obtained. A major disaster, for this purpose, means an event caused by one or more damaging or destructive events that cause serious loss, destruction, or hardship that monetarily are expected to cost in excess of $1 million G:\rda\Patty Leon\JMM\staff report\Reserve Study Staff Report 2-10-11.doc Staff Report - Replacement Reserve Analysis February 10, 2011 Page 4 of 4 dollars in immediate need. Once monetary aid is available, the Fund would be replenished to the balance available prior to the disaster. The full property report for Catalina Gardens is attached as a sample which explains the method used to create the report and its contents. Because much of the methodology is duplicated in every report, staff has not attached a complete set of reports but simply the five-year deposit and expense listing for each property. A full and complete set of reports "the study" is on file in the office of the City Clerk. Fiscal Analysis The costs associated with the establishment and deposits to the Fund will be from the Housing Set-Aside Fund. Therefore, there is no impact to the General Fund. Submitted By: Department Head: l anet oore, Director of Housing J ti McCarthy, ACM for Re lopment Appr val: C ` C 8Y RDA S C Paul S. Gibson, Director of Finance ON "VERIFIED BY " jV n //it 1 Original on file with City 1 . Wohlmuth, Exec Director r.lr.. fffip //4- Y '�`�'�B Y HOD G Aril" ON, -I I VERIFIED BY: Yii /T 1 Original on file with City CI `s Offsc G:\rda\Patty Leon\JMM\staff report\Reserve Study Staff Report 2-10-11.doc Palm Desert Housing Authority Reserve Study Summary DEPOSITS Recommended Special First Year Dep Reserve FullyFunded Appropriation @ 20%Reserve Total 1st Year Balance 10111 Funding Contribution California Villas 709,535 - 225,000 225,000 Candlewood 829,336 700,000 45,000 745,000 Catalina Gardens 814,198 550,000 95,000 645,000 Desert Pointe 891,699 96,000 96,000 La Rocca Villas 111,760 - 25,000 25,000 Laguna Palms 143,393 - 62,900 62,900 Las Serenas 2,470,281 277,500 283,000 560,500 Nieghbors Gardens 460,536 280,000 45,000 325,000 One Quail Place 4,086,044 1,600,000 750,000 2,350,000 Palm Village 189,055 - 76,500 76,500 Pueblos 291,893 180,000 25,000 205,000 Taos Palms 314,894 - 47,200 47,200 Total 11,312,624 3,587,500 1,775,600 5,363,100 + 5%increase annually Palm Desert Housing Authority Reserve Study Summary EXPENSES Year 1 Exp Year 2 Exp Year 3 Exp Year 4 Exp Year 5 Exp California Villas 32,100 213,184 257,984 46,414 42,347 Candlewood 690,300 2,730 2,811 10,654 45,189 Catalina Gardens 212,425 201,700 321,108 74,852 52,336 Desert Pointe 36,365 228,171 356,993 326,086 54,897 La Rocca Villas 4,687 - - 5,121 Laguna Palms 2,732 4,193 Las Serenas 356,125 462,874 285,393 404,554 304,906 Nieghbors Gardens 210,700 109,541 6,259 -One Quail Place 1,704,050 630,360 666,298 433,430 484,925 Palm Village 26,471 - 4,617 28,926 Pueblos 97,150 126,035 29,831 Taos Palms 9,888 29,520 2,898 Total 3,339,215 1,889,606 2,052,401 1,333,170 1,025,738 Coverage: 18% 22% 23% 31% 41% Annual Contribution: 1,775,600 1,864,380 1,957,599 2,055,479 2,158,253 Special Appropriation: 3,587,500 477,500 200,000 200,000 Attachment to Reserve Study coy=ub�:,,,a,a,wu,n.,, =.,a .mev»n.==.=umwmm..a=•�,n,e�, Staff Report February 10,2011 Page 1 Palm Desert Housing Authority California Villas Reserve Analysis tyro® 4) s ,.. . 5:: ,.., .,<. ' Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $192,900 $215,966 $206,044 $420,097 Annual Reserve Contribution $225,000 $236,250 $248,063 $260,466 $273,489 Special Appropriation $0 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $1 Subtotal $225,000 $429,150 $464,029 $466,510 $693,586 # Component 108 Patio Decks-Resurface $0 $0 $0 $0 $0 303 HVAC Units-Replace(common) $0 $0 $0 $0 $0 303 HVAC Units-Replace(laundry) $0 $0 $0 $0 $0 303 HVAC Units-Replace(partial) $13,750 $14,163 $14,587 $15,025 $15,476 324 Wall Lights-Replace $0 $0 $0 $0 $0 501 Block Wall-Repair(patios) $0 $0 $0 $0 $0 503 Metal Fence/Gates-Repair $0 $0 $0 $0 $0 702 Utility Doors-Replace $0 $0 $0 $0 $0 1113 Carport Frames-Repaint $18,350 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1301 Asphalt/Gravel Roof-Replace $0 $0 $0 $0 $0 1308 Metal Carport Roofs-Replace $0 $0 $0 $0 $0 1905 Utility Closets-Refurbish(Ph 1) $0 $180,250 $0 $0 $0 1905 Utility Closets-Refurbish(Ph 2) $0 $0 $212,180 $0 $0 803 Water Heaters-Replace(units) $0 $0 $0 $0 $0 901 Refrigerators-Replace $0 $10,738 $11,060 $11,392 $11,733 901 Stoves-Replace $0 $8,034 $8,275 $8,523 $8,779 909 Unit-Renovate(mgr) $0 $0 $0 $0 $0 909 Units-Renovate $0 $0 $0 $0 $0 909 Units-Renovate $0 $0 $0 $0 $0 803 Water Heater-Replace(common) $0 $0 $0 $0 $0 901 Appliances-Replace $0 $0 $0 $0 $0 910 Office/Main Room -Renovate $0 $0 $0 $0 $0 911 Furniture-Replace $0 $0 $0 $0 $0 912 Office Equipment-Replace $0 $0 $0 $0 $0 k J x7•# ,t�',,,`, S.. ...y� v _ � . ";„a,:1. . .-,,, ,4vr.�"?*a.a•. e2, . i Y es. --ra „a sA., H E xn�. . a,.,,.� +�a� t{�-s,- 105 Pool Deck-Resurface $0 $0 $0 $0 $0 404 Pool Furniture-Replace $0 $0 $0 $0 $6,359 1202 Pool-Resurface $0 $0 $11,882 $0 $0 1203 Spa-Resurface $0 $0 $0 $0 $0 1810 Utility Vehicle-Replace(B) $0 $0 $0 $5,464 $0 1207 Pool/Spa Filters-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $0 $0 $0 1208 Spa Heater-Replace $0 $0 $0 $0 $0 1210 Pool/Spa Pumps-Replace $0 $0 $0 $0 $0 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 California Villas 4:32 PM Palm Desert Housing Authority California Villas Reserve Analysis .xwvaarm .,.. , ,u.. ...: 1:41 ,. - a"fa,PVig 4on 7;eoa,:u, 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 1004 Irrigation Enclosures-Replace $0 $0 $0 $0 $0 '«a'43! ,. ., , 7.kd' ,44, y . ww ,14..ta , ,e.rs..P.,'' 103 Concrete Deck/Walk-Repair $0 $0 $0 $6,010 $0 320 Pole Lights-Replace $0 $0 $0 $0 $0 707 Trash Enclosure Gates-Replace $0 $0 $0 $0 $0 1121 Wood Pergolas-Replace $0 $0 $0 $0 $0 1810 Utility Vehicle-Replace(A) $0 $0 $0 $0 $0 Subtotal $32,100 $213,184 $257,984 $46,414 $42,347 Ending Reserve Balance: $192,900 $215,966 $206,044 $420,097 $651,239 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 California Villas 4:32 PM Palm Desert Housing Authority Candlewood Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $54,700 $100,121 $148,830 $193,302 Annual Reserve Contribution $45,000 $48,150 $51,521 $55,127 $58,986 Special Appropriation $700,000 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $745,000 $102,850 $151,641 $203,957 $252,288 # Component 104 Upper Walkways-Replace $60,000 $0 $0 $0 $0 303 HVAC Units-Replace(Newer) $0 $0 $0 $0 $0 303 HVAC Units-Replace(Old) $36,250 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 401 Exterior Shades-Replace $0 $0 $0 $0 $37,142 503 Balcony/Patio Rails-Replace(New) $0 $0 $0 $0 $0 503 Balcony/Patio Rails-Replace(Old) $19,950 $0 $0 $0 $0 1115 Stucco-Repaint $31,500 $0 $0 $0 $0 1301 Asphalt/Gravel Roof-Replace $174,100 $0 $0 $0 $0 1304 Tile Roof-Replace Underlayment $47,000 $0 $0 $0 $0 1910 Bridge-Rebuild $10,000 $0 $0 $0 $0 walsonr,N....tira "vet-.v .ig e47 , +x ;sti'. 1 .«R tent A.. iki:.,,..: 803 Water Heater-Replace $2,650 $2,730 $2,811 $2,896 $2,983 901 Dishwasher-Replace $12,000 $0 $0 $0 $0 901 Range-Replace $12,750 $0 $0 $0 $0 901 Refrigerator-Replace $18,000 $0 $0 $0 $0 910 Unit-Renovation(1 BR/IBA) $221,000 $0 $0 $0 $0 910 Unit-Renovation(2BR/1BA) $38,000 $0 $0 $0 $0 �f a r s a m ac 4 ss ggirth e - 1, e r - $! 4 1 Stun .' ,c.c.s., ,..�c"ca����;t�kd.�s".l£ '``x°. r'a �� -,�. ''`�ws,�, w�:�+'u";.`#�z '�s ..�.3«�;�n 104 Pool/Walkway Deck-Resurface $0 $0 $0 $0 $0 404 Pool Fumiture-Replace/Refurbish $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1203 Spa-Resurface $0 $0 $0 $0 $5,065 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1207 Spa Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $0 $0 $0 1208 Spa Heater-Replace $0 $0 $0 $0 $0 1210 Pool/Spa Pumps-Replace $0 $0 $0 $0 $0 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Candlewood 4:32 PM Palm Desert Housing Authority Candlewood Reserve Analysis 200 Asphalt-Overlay $0 $0 $0 $0 $0 201 Asphalt-Remove&Replace $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $7,100 $0 $0 $7,758 $0 320 Pole Lights-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 503 Pool Fence-Replace $0 $0 $0 $0 $0 704 Intercom-Replace $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 1801 Elevator-Modernize $0 $0 $0 $0 $0 1802 Elevator Cab-Remodel $0 $0 $0 $0 $0 Subtotal $690,300 $2,730 $2,811 $10,654 $45,189 Ending Reserve Balance: $54,700 $100,121 $148,830 $193,302 $207,099 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Candlewood 4:32 PM Palm Desert Housing Authority Catalina Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $432,575 $329,675 $111,319 $143,330 Annual Reserve Contribution $95,000 $98,800 $102,752 $106,862 $111,137 Special Appropriation $550,000 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $645,000 $531,375 $432,427 $218,181 $254,466 # Component .. 7 a ... ,7 ',` , , kii' `tC"'' `, .; c{js?.. +Y xe9.y lV. igg.,`)'. 303 HVAC Units-Replace(i) $0 $0 $36,919 $0 $0 303 HVAC Units-Replace(ii) $0 $0 $0 $0 $0 303 HVAC Units-Replace(iii) $0 $0 $0 $0 $0 303 Maintenance/Staff HVAC-Replace $0 $0 $0 $0 $0 303 Rec Bldg Condenser-Replace $0 $0 $0 $0 $0 324 Rec Bldg Wall Lights-Replace $0 $0 $0 $0 $0 401 Awnings-Replace $0 $0 $0 $9,835 $0 515 Wood Trellis-Replace $0 $0 $0 $0 $0 720 Water Heater Doors-Replace $0 $0 $0 $0 $0 803 Unit Water Heater-Partial Replace $4,125 $4,249 $4,376 $4,507 $4,643 1115 Stucco(rec bldg)-Repaint $0 $0 $0 $0 $0 1115 Stucco(units,pool bldg)-Repaint $0 $0 $68,746 $0 $0 1116 Wood Surfaces-Repaint $9,000 $0 $0 $0 $0 1301 Flat Gravel Roof-Replace(x) $62,025 $0 $0 $0 $0 1301 Flat Gravel Roof-Replace(y) $0 $63,886 $0 $0 $0 1301 Flat Gravel Roof-Replace(z) $0 $0 $65,802 $0 $0 1301 Flat Rec Bldg Roof-Replace $0 $0 $0 $0 $0 1304 Rec Tile Roof-Repl.Underlayment $0 $0 $0 $0 $0 1304 Tile Roof-Repl.Underlayment(x) $87,300 $0 $0 $0 $0 1304 Tile Roof-Repl.Underlayment(y) $0 $89,919 $0 $0 $0 1304 Tile Roof-Repl.Underlayment(z) $0 $0 $92,617 $0 $0 1315 Metal Carport Roof-Replace $0 $0 $0 $0 {y" $0 >2 v v. ., ,-,.�,.. $.»: n y. atY *` ;in .-YS.t` A 1,-*t_ .i. :iApT - . 901 Range-Replace $2,975 $3,064 $3,156 $3,251 $3,348 901 Refrigerator-Replace $5,400 $5,562 $5,729 $5,901 $6,078 904 Unit-Renovation $34,000 $35,020 $36,071 $37,153 y $38,267 r k- ' • ., a .pK=k e .4- t., ^'a f �t. 'gas" ; y+s ,k,kw.,.�amts��'E,.ma. a'4..:�,i ...n,= .,:; - ,,. , a...>, '�4!?_`4n T r ll 901 Appliances-Replace $0 $0 $0 $0 $0 910 Recreation Room-Renovation $0 $0 $0 $0 $0 911 Furniture(rec bldg)-Replace $0 $0 $0 $0 $0 x .a.,a 105 Pool Deck-Resurface $0 $0 $0 $0 $0 404 Pool Furniture-Replace $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $0 $0 $0 1210 Pool Pump-Replace $0 $0 $0 $0 $0 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Catalina 4:32 PM Palm Desert Housing Authority Catalina Reserve Analysis °+'S.4kS '''' 7" t^ kSa�rC.. T Sd Ni n x �` � r W.�ry��"�yrrreak:!w4 LFr it?pu*et. 1003 Irri.Controllers-Replace(2007) $0 $0 $0 $0 $0 1003 Irri.Controllers-Replace(old) $0 $0 $0 $5,901 $0 y r rr aaro,a.„„� x, a-.n ��' `'# - ' ,. «. ,.,,xn:ta'sA�:�� n +�y -^ . �tx^, �� � at:av ?a'+m.�xa1tla 200 Asphalt-Remove and Replace $0 $0 $0 $0 $0 201 Asphalt-Overlay $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $7,600 $0 $0 $8,305 $0 206 Entry Concrete-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $7,692 $0 $0 503 Pool Fence-Replace $0 $0 $0 $0 $0 Subtotal $212,425 $201,700 $321,108 $74,852 $52,336 Ending Reserve Balance: $432,575 $329,675 $111,319 $143,330 $202,130 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Catalina 4:32 PM Palm Desert Housing Authority Desert Pointe Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $59,635 $132,264 $81,111 $66,157 Annual Reserve Contribution $96,000 $100,800 $105,840 $111,132 $116,689 Planned Special Assessments $0 $200,000 $200,000 $200,000 $0 Interest Earnings $0 $0 $0 $0 $0 Total Income $96,000 $360,435 $438,104 $392,243 $182,846 4 Component 104 Balcony Decks-Seal/Repair $8,800 $0 $0 $9,616 $0 105 Balcony Decks-Resurface $0 $0 $0 $39,420 $0 106 Corridor Flooring-Resurface $0 $0 $0 $0 $21,722 303 HVAC Units-Replace(partial) $6,600 $6,798 $7,002 $7,212 $7,428 324 Wall Lights-Replace $0 $0 $5,649 $0 $0 503 Metal Fence/Rail-Repair $0 $0 $0 $0 $0 506 Wood Patio Fencing-Replace $0 $0 $23,632 $0 $0 702 Exterior Doors-Replace $0 $0 $7,824 $0 $0 1110 Corridor Wall Surfaces-Repaint $0 $0 $0 $0 $7,963 1113 Metal Carports-Repaint $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $50,393 $0 $0 1116 Wood Surfaces-Repaint $0 $0 $14,614 $0 $0 1121 Wood Trellis-Replace $0 $0 $27,875 $0 $0 1301 Flat Roof-Replace $0 $0 $0 $239,034 $0 1308 Metal Carport Roof-Replace $0 $0 $0 $0 $0 ta d v t'. d� ,.v... �e�,.. ��.`�k:.si^:�a' .a+`^�w`"a"�rc` t• .. e � �,�ae;d.:7+. �'L 1W��, s'^si3 803 Water Heater-Replace(A) $0 $0 $0 $0 $6,078 803 Water Heaters-Replace(units) $2,500 $2,575 $2,652 $2,732 $2,814 901 Refrigerators-Replace(partial) $4,900 $5,047 $5,198 $5,354 $5,515 901 Stoves-Replace(partial) $3,000 $3,090 $3,183 $3,278 $3,377 909 Units-Renovate(1-BR) $0 $0 $194,940 $0 $0 909 Units-Renovate(2-BR) $0 $0 $0 $0 $0 909 Units Renovate(1-BR) $0 $0 $0 $0 $0 909 Units Renovate(2-BR) $0 $0 $0 $0 $0 909 Units Renovate(studios) $0 $0 $0 $0 $0 909 Units-Renovate(studios) $0 $201,880 $0 $0 $0 803 Water Heater-Replace(Laundry A) $0 $0 $3,846 $0 $0 803 Water Heater-Replace(Laundry B) $0 $0 $0 $0 $0 910 Laundry Room-Renovate $0 $0 $0 $0 $0 910 Office-Renovate $0 $0 $3,740 $0 $0 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Desert Pointe 4:32 PM Palm Desert Housing Authority Desert Pointe Reserve Analysis ?3 "r:... si`'s' itgi,' , J a fi e 74r:.111Crimu.as .° n 105 Pool Deck-Resurface $0 $0 $0 $6,174 $0 404 Pool Furniture-Replace $0 $0 $0 $4,781 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $2,732 $0 $0 1210 Pool Pump-Replace $0 $0 $0 $0 $0 itgli .teio e is v, r _ 5 »,�}. 3 a .� t A.. ".rnt�g'"Fr... �,,., .{, . .. .. .. :� �+1 'ir . . _ "'1t-� �5 .:. .,'k7 `Yr3d,�.�=" "V. tY` C.:,. 405 Play Equipment-Replace $0 $0 $0 $0 $0 416 Play Surface-Replace $0 $2,807 $0 $0 $0 46.3 . A i.,ark z.'EC .ri s`4;:;. ,.., '--..,: ...:,:'Il-).21 . 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 Migicrir:.7.',• ,. ,y; .t oCPI Mit Y.)? g.,, tilLi;$,rm44. A4 ;;44:71.tay.lx ; .,+ t \r ,,•. drk 103 Concrete Deck/Walk-Repair $0 $0 $3,713 $0 $0 200 Asphalt-Remove and Replace $0 $0 $0 $0 $0 201 Asphalt-Overlay $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $7,765 $0 $0 $8,485 $0 204 Concrete Swales-Repair $0 $0 $0 $0 $0 320 Parking Lot Lights-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $5,974 $0 $0 $0 708 Metal Trash Gate-Replace $0 $0 $0 $0 $0 1105 Block Wall Fence-Repaint $0 $0 $0 $0 $0 1402 Signage-Replace $2,800 $0 $0 $0 $0 Total Expenses $36,365 $228,171 $356,993 $326,086 $54,897 Ending Reserve Balance: $59,635 $132,264 $81,111 $66,157 $127,949 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Desert Pointe 4:32 PM Palm Desert Housing Authority La Rocca Villas Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $25,000 $47,314 $76,474 $107,966 Annual Reserve Contribution $25,000 $27,000 $29,160 $31,493 $34,012 Special Appropriation $0 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $25,000 $52,000 $76,474 $107,966 $141,979 # Component 4" .. . ., -c r.Yc..,.illit.74 n. i l'i .a° asm3%'` ira6'att 303 HVAC Units-Replace $0 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 802 Solar System-Replace $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1301 Asphalt/Gravel Roof-Replace $0 $0 $0 $0 $0 1304 Tile Roof-Replace Undertayment $0 $0 $0 $0 $0 1308 Metal Carport Roof-Replace $0 $0 $0 $0 $0 �'R21 rrg sr nx g„- u- a, x i ,x ,li,�...�„�,�k��'� ':�::' `4�*'. ;' .���i�r gib`; ;'.. a'� .t '�°r�a410 803 Water Heater-Replace $0 $0 $0 $0 $0 901 Dishwasher-Replace $0 $0 $0 $0 $0 901 Hoods-Replace $0 $0 $0 $0 $0 901 Range-Replace $0 $0 $0 $0 $0 901 Refrigerator-Replace $0 $0 $0 $0 $0 910 Unit-Renovation $0 $0 $0 $0 $0 w `�i, lh$ . : zs_, 's, Ar Y ¢ $- sd }, „: 8 4 r, ,i_. :.. 9.sC,V�✓,��y,. v � �.a'y^�k .s*'§�.€"ir �i�,Stk �'+. � :.� w„t�,� �. 903 Furniture-Replace $0 $0 $0 $0 $0 910 Recreation Room-Renovation $0 $0 $0 $0 $0 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 x 4"txx w. > �t P At 200 Asphalt-Overlay $0 $0 $0 $0 $0 201 Asphalt-Remove&Replace $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $0 $4,687 $0 $0 $5,121 403 Mailboxes-Replace $0 $0 $0 $0 $0 409 Benches-Replace $0 $0 $0 $0 $0 708 Patio Gates-Replace $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 Subtotal $0 $4,687 $0 $0 $5,121 Ending Reserve Balance: $25,000 $47,314 $76,474 $107,966 $136,857 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 La Rocca Villas 4:32 PM Palm Desert Housing Authority Laguna Palms Reserve Analysis ` Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $62,900 $128,945 $198,292 $268,375 Annual Reserve Contribution $62,900 $66,045 $69,347 $72,815 $76,455 Special Appropriation $0 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $62,900 $128,945 $198,292 $271,107 $344,830 # Component 4y. .:... „ .,4 72TYi �,. t5; nh h- 0;, s,y 5iiialar. te tc.4 isi1ttinpil 107 Concrete Deck-Re-Seal $0 $0 $0 $2,732 $0 303 HVAC Units-Replace(units) $0 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 503 Metal Rail-Repair $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1303 Comp Shingle Roof-Replace $0 $0 $0 $0 $0 1307 Single Ply Roof-Replace $0 $0 $0 $0 $0 .p -.w a P 4V ' k ,' ^ ' °N^'.ht ii"..' e _ - ta�'sn. ``, . � ' ,✓ :, ., gar "..;: k. 1 , 803 Water Heater/Tanks-Replace $0 $0 $0 $0 $0 901 Refrigerators-Replace $0 $0 $0 $0 $0 901 Stoves-Replace $0 $0 $0 $0 $0 909 Unit Renovation(1-BR) $0 $0 $0 $0 $0 909 Unit Renovation(2-BR) $0 $0 $0 $0 $0 909 Unit Renovation(studio) $0 $0 $0 $0 $0 ...v „.gig� ,, �' n ,.S.wsrx� A et + -kA '� t.+ +55� t n ,3x a 303 HVAC Unit-Replace(common) $0 $0 $0 $0 $0 803 Water Heater/Tank-Replace(common) $0 $0 $0 $0 $0 910 Office-Renovate $0 $0 $0 $0 $0 911 Office Fumiture-Replace $0 $0 $0 $0 $0 caw sp : fi+f%" y, �'Y f,++ amw ,. ,^ill ery Su` V.' his r x,. .t ..,., t x NI .SSA aw.Z^Z—ta: ..,,,,,,v.:.,...„,,,,,,,,,�r,[w ...:nab J h t &", 105 Pool Deck-Resurface $0 $0 $0 $0 $0 404 Pool Furniture-Replace $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $0 $0 $0 1210 Pool/Spa Pump-Replace $0 $0 $0g, $0 $0 {":;a g. ,t .., .:::fi:Est-.g ir„^ ,,re,'a :.4,! 3"!',«i" Rf t 'k Nv.:,, '^fir. 1003& Irrigation Co(ntrololler-Replace $0 $0 $0 $0 - $0 pi. va4� s j44 i li ,0Y., , ,1 "4' v� ,4,T,w..lit,I; '..:,-44 .,- ,, .g*�, , zgair i 103 Concrete Deck/Walk-Repair $0 $0 $0 $0 $4,193 320 Pole Lights-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 708 Metal Trash Gates-Replace $0 $0 $0 $0 $0 1105 Block/Stucco Wall-Repaint $0 $0 $0 $0 $0 1402 Signage-Replace $0 $0 $0 $0 $0 Subtotal $0 $0 $0 $2,732 $4,193 Ending Reserve Balance: $62,900 $128,945 $198,292 $268,375 $340,638 G:\rda\HOUSWG\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Laguna Palms 4:32 PM Palm Desert Housing Authority Las Serenas Reserve+ Analysis ''' ..a . ...r .r. ' tgnO ...'N is ti.,.... Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $204,375 $318,982 $351,568 $284,072 Annual Reserve Contribution $283,000 $299,980 $317,979 $337,058 $357,281 Special Appropriation $277,500 $277,500 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $560,500 $781,855 $636,961 $688,626 $641,353 liatti3# Component me.,µ,. vate"* . ., -, ,' '=Y"a .. "��- x'�x r ,:: S ri y. ; '4'P-„5�`1.x";� rLillaR `11 s ,3 303 HVAC System-Replace(clubhouse) $0 $0 $0 $0 $0 303 HVAC Units-Replace(partial) $39,000 $40,170 $41,375 $42,616 $43,895 324 Wall Lights-Replace $0 $0 $0 $0 $0 702 Utility Doors-Replace $0 $0 $0 $0 $0 1113 Carport Frames-Repaint $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1116 Wood Trim-Repaint $50,625 $0 $0 $0 $0 1121 Wood Trim-Repair/Replace $33,750 $0 $0 $0 $0 1302 Cap Sheet Roof-Replace(new) $0 $0 $0 $0 $0 1302 Cap Sheet Roof-Replace(old) $0 $160,371 $0 $0 $0 1304 Tile Roof-Replace Underlayment $0 $0 $0 $0 $0 1315 Carport Roofs-Replace $0 $0 $0 $0 $0 1405 Bldg. I.D. Letters-Replace $0 $0 $0 $0 $0 �`s x. . f> ; , Aliffe3.A -iS1' a .t ' ...."ffi,u.a�' tti .i' : si .' R : . . r ' sa, 803 Water Heaters-Replace(partial) $10,500 $10,815 $11,139 $11,474 $11,818 903 Refrigerators-Replace(partial) $9,000 $9,270 $9,548 $9,835 $10,130 903 Stoves-Replace(partial) $5,250 $5,408 $5,570 $5,737 $5,909 909 Units-Renovate(1-BR) $0 $0 $0 $0 $0 909 Units-Renovate(1-BR) $136,000 $136,000 $136,000 $136,000 $136,000 909 Units-Renovate(1-BR/den) $0 $0 $0 $0 $0 909 Units-Renovate(1-BR/den)C $72,000 $72,000 $72,000 �t $72,000 $72,000 {�1:.:' s'.. ''''',�'3 :3; .r al ii,' :.+'>k trot 7 , x 1 ,s t+: ',. t ,Y 3 1 ';•;.„s0 403 Mailboxes-Replace $0 $0 $0 $0 $0 803 Water Heater-Replace(laundry) $0 $0 $0 $0 $4,052 903 Furniture-Replace(clubhouse) $0 $0 $0 $0 $0 910 Laundry Room-Renovate $0 $0 $0 $0 $0 910 Offices-Renovate $0 $0 $0 $0 $0 910 Recreation Rooms-Renovate $0 $0 $0 $0 $0 911 Office Furniture-Replace $0 $0 $0 $0 $0 912 Office Equipment-Replace $0 $0 $4,403 $0 $0 912 Office Equipment-Replace(common) $0 $0 $5,358 $0 $0 922 Appliances-Replace(clubhouse) $0 $0 $0 $0 $0 G:1rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Las Serenas 4:32 PM Palm Desert Housing Authority ,{, ,,i�/X/y�yy Las Serenas Reserve Analysis Egak� ,� . 41-7 Y: .ra 172;;f - fi r y .5! .i^.`vb�k.k..r., rSb,v isrd .:;::r b x a;rne sci ' 105 Pool Decks-Resurface $0 $0 $0 $0 $0 404 Pool Furniture-Replace $0 $0 $0 $9,780 $0 407 Gas BBOs-Replace $0 $0 $0 $0 $3,489 905 Shower-Re-tile $0 $0 $0 $0 $0 1120 Wood Arbors-Replace $0 $0 $0 $0 $0 1202 Pool-Resurface(Front) $0 $0 $0 $0 $0 1202 Pools-Resurface(Middle) $0 $0 $0 $0 $0 1202 Pools-Resurface(Rear) $0 $0 $0 $0 $0 1204 Spa-Resurface $0 $0 $0 $4,262 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1207 Pool Filters-Replace $0 $0 $0 $0 $0 1207 Spa Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace(Front) $0 $0 $0 $0 $0 1208 Pool Heater-Replace(Middle) $0 $2,884 $0 $0 $0 1208 Pool Heater-Replace(Rear) $0 $0 $0 $0 $0 1208 Spa Heater-Replace $0 $0 $0 $0 $0 1210 Pool/Spa Pumps $0 $0 $0 $0 $0 4¢(• w.� mr.rre:..:-rc e.�v ,aa. �� ' 'w2 i, .' •" �'� - . `' `�i't'' 4,.. ?:, °: 1003 Irrigation Controllers-Replace $0 $4,172 $0 $0 $$00 F' c Tit rr"v y 2 .ni+81- ? 1.�„ Iof v,,y 'r;- i.. " s „< ': ii�' , u�.�4 °° 103 Concrete Walks/Decks-Replace $0 $5,665 $0 $0 $0 200 Asphalt-Remove&Replace $0 $0 $0 $0 $0 201 Asphalt-Overlay $0 $0 $0 $112,851 $0 202 Asphalt-Seal/Repair $0 $16,120 $0 $0 $17,614 320 Pole Lights-Replace $0 $0 $0 $0 $0 501 Block/Stucco Wall-Repair $0 $0 $0 $0 $0 502 Chain Link Fence-Replace $0 $0 $0 $0 $0 503 Metal Fence/Rail-Repair $0 $0 $0 $0 $0 707 Trash Gates-Replace $0 $0 $0 $0 $0 1810 Utility Vehicles-Replace $0 $0 $0 $0 $0 Subtotal $356,125 $462,874 $285,393 $404,554 $304,906 Ending Reserve Balance: $204,375 $318,982 $351,568 $284,072 $336,447 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Las Serenas 4:32 PM Palm Desert Housing Authority Neighbors Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $114,300 $52,010 $95,363 $147,456 Annual Reserve Contribution $45,000 $47,250 $49,613 $52,093 $54,698 Special Appropriation $280,000 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $325,000 $161,550 $101,622 $147,456 $202,154 # Component 14 104 Elastomeric Deck-Seal/Repair $0 $0 $6,259 $0 $0 105 Elastomeric Deck-Resurface $0 $0 $0 $0 $0 303 HVAC Units-Replace(2007) $0 $0 $0 $0 $0 303 HVAC Units-Replace(Old) $41,300 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1301 Flat Roofs-Replace $0 $0 $0 $0 $0 1308 Metal Carport Roof-Replace $0 $0 $0 $0 $0 SS R 4 i `� p,r, l• �`Y vY ` yT^' s „,9, A'Y ':',Z'� , ..m.i..�,13 M �> ` i` m;, :t", .. 'R' ,� R,� 1 e t. i x9x�"" 803 Water Heater-Replace(Phase 1) $0 $0 $0 $0 $0 803 Water Heater-Replace(Phase 2) $7,000 $0 $0 $0 $0 803 Water Heater-Replace(Phase 3) $0 $8,137 $0 $0 $0 901 Dishwasher-Replace(Phase 1) $0 $0 $0 $0 $0 901 Dishwasher-Replace(Phase 2) $3,200 $0 $0 $0 $0 901 Dishwasher-Replace(Phase 3) $0 $3,760 $0 $0 $0 901 Range-Replace(Phase 1) $0 $0 $0 $0 $0 901 Range-Replace(Phase 2) $3,400 $0 $0 $0 $0 901 Range-Replace(Phase 3) $0 $3,966 $0 $0 $0 901 Refrigerator-Replace(Phase 1) $0 $0 $0 $0 $0 901 Refrigerator-Replace(Phase 2) $4,800 $0 $0 $0 $0 901 Refrigerator-Replace(Phase 3) $0 $5,614 $0 $0 $0 904 Unit-Renovation (Phase 1) $0 $0 $0 $0 $0 904 Unit-Renovation(Phase 2) $76,000 $0 $0 $0 $0 904 Unit-Renovation(Phase 3) $0 $88,065 $0 $0 $0 .a ,re `�iW'�"a�. "a:n�.,,'6��" �?�`��N•,,'% .,4 ..Ui `�'g�`�?'",�'} .c. +:r��?'F,£ffittYfi«e.. y41 �u ., 1 " 105 Pool Deck-Resurface $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1210 Pool Pump-Replace $0 $0 $0 $0 $0 ifftrazr0 f , t iis''t 44." rv' n eu ��'!7�m`ti,r�-- 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Neighbors 4:38 PM Palm Desert Housing Authority Neighbors Reserve Analysis rrtalrti:: : '':. ':712,4),:ki:.'R: r' ' '. 205 Concrete Drive-Repair $75,000 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 503 Pool/San Pablo Fence-Replace $0 $0 $0 $0 $0 503 Unit Hand Rails-Replace $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 1105 Block Wall Fence-Repaint $0 $0 $0 $0 $0 Subtotal $210,700 $109,541 $6.259 $0 $0 Ending Reserve Balance: $114,300 $52,010 $95,363 $147,456 $202,154 6.V-de\HOUSING\RENTAUReplacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Neighbors 4 38 PM Palm Desert Housing Authority One Quail Place Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $645,950 $810,590 $986,992 $1,446,824 Annual Reserve Contribution $750,000 $795,000 $842,700 $893,262 $946,858 Planned Special Funding $1,600,000 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Total Income $2,350,000 $1,440,950 $1,653,290 $1,880,254 $2,393,681 #Component 5' ,. *sr :;,: t.# " Wro'15ar r vE, >.. Y 6 i" n " t �++aYy 107 Upper Level Concrete Deck-Replace $202,500 $0 $0 $0 $0 109 Wood Deck-Replace $155,000 $0 $0 $0 $0 111 Trex Deck-Replace $0 $0 $0 $0 $0 303 HVAC Units-Replace(Phase 1) $0 $0 $0 $0 $0 303 HVAC Units-Replace(Phase 2) $213,200 $0 $0 $0 $0 303 HVAC Units-Replace(Phase 3) $0 $219,596 $0 $0 $0 303 HVAC Units-Replace(Phase 4) $0 $0 $226,184 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 501 Patio Walls-Replace $143,000 $0 $0 $0 $0 504 Wood Handrails-Replace $0 $0 $0 $0 $11,255 1115 Stucco-Repaint $0 $0 $0 $0 $0 1116 Wood Surfaces-Repaint $153,600 $0 $0 $0 $0 1121 Wood Surfaces-Repair/Replace $32,500 $33,475 $34,479 $35,514 $36,579 1301 Carport Roof-Replace $0 $0 $0 $0 $0 1302 Flat Roof-Replace(1993) $370,150 $0 $0 $0 $0 1302 Flat Roof-Replace(1999) $0 $0 $0 $0 $0 1304 Tile Roof-Replace Underlayment $0 $0 $0 $0 $0 viliti Wgetr: 7" ywt ait ...' ;;Ean sin �`N;. tilr0i.: x1'xu4i" k ep 901 Dishwasher-Replace $19,200 $19,776 $20,369 $20,980 $21,610 901 Hood-Replace $8,400 $8,652 $8,912 $9,179 $9,454 901 Range-Replace $16,600 $17,098 $17,611 $18,139 $18,683 901 Refrigerator-Replace $28,800 $29,664 $30,554 $31,471 $32,415 910 Unit-Renovation(1BR/1BA) $93,500 $96,305 $99,194 $102,170 $105,235 910 Unit-Renovation(2BR/1BA) $54,000 $55,620 $57,289 $59,007 $60,777 910 Unit-Renovation(2BR/2BA) $95,000 $97,850 $100,786 $103,809 $106,923 i Ej "%Y-T , 't�vEMN..'e �'-� rr s . ro v r N'+`s r S ` Z. t+9 "�. Ti'�e"4'W1B..ann an vrwai4:. i".a f �" � ":�� t Dlf`¢aeY �w#�rv._ t'` iq'.'4Ja ga 903 Furniture-Replace(Office Bldg) $0 $0 $0 $0 $0 906 Sauna Rooms-Refurbish $7,500 $0 $0 $0 $0 910 Office Building-Rennovale $0 $0 $0 $0 $0 Y „x'y' S. � _ 'v 'io4iz4s`t 4k ,.t • ',�. ._ ..s_,... a _ 14 'v°ptieY,t`ii>�.' 105 Pool Decks-Resurface $0 $0 $0 $0 $0 404 Pool Furniture-Refurbish $11,000 $0 $0 $12.020 $0 404 Pool Furniture-Replace $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1203 Spa-Resurface $0 $0 $19,096 $0 $0 1207 Pool Filters-Replace $1,400 $0 $0 $1,530 $0 G:Vda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 One Quail Place 4:32 PM Palm Desert Housing Authority Y �� One Quail Place Reserve Analysis ,,fig,, �y pr .g i} . .. a'y;Y.d8�d.....` C 4 . ,-. .. tlki.`r' s '4."ik z?',z'.. 1207 Spa Filter-Replace $0 $927 $0 $0 $1,013 1208 Pool Heater-Replace(#1) $0 $0 $0 $0 $0 1208 Pool Heater-Replace(#2,4) $0 $0 $5,729 $0 $0 1208 Pool Heater-Replace(#3) $2,700 $0 $0 $0 $0 1208 Spa Heater-Replace(#1,3) $0 $0 $0 $0 $0 1208 Spa Heater-Replace(#2,4) $0 $0 $4,986 $0 $0 1210 Pool/Spa Pumps-Replace $1,750 $1,803 $1,857 $1,912 $1,970 r1 ::::::i w ._,,..,:e '£>. s .� ( 4'a- nor t " `7' 3 ;q. �3 €��fiv," Via' s4,,,� 405 Play/Park Equipment-Replace $0 $0 $0 $0 $0 412 Rubber Play Surface-Replace $0 $0 $0 $0 $0 502 Court Chain Link-Replace $0 $0 $0 $0 $0 1602 Play Court-Recoat $0 $0 $0 $0 $3,939 1604 Tennis Courts-Resurface $0 $0 $0 $10,927 $0 1607 Basketball Court-Recoat $0 $0 ( $0 $0 $3,939 - 1 t} Fu2:va�+.'" 41.,x,s; Y s 'lt ,l ,�' � 4r r s w v, x €.b r, .,d.�aka. .- ..xs gym.,.;v, .- a a sx,a ,i- 7r,,. 1003 Irrigation Timers-fls� Replaccey!di` $0 $0 $0 $0 $0* 01, ,, .7: .., rib. ''x6.x .ISL` , � ' il'^-Aft ,ail, w : '1".. :3 x ..T` i r r .'.: ", 103 Concrete Walk-Repair $10,000 $10,300 $10,609 $10,927 $11,255 105 Elastomeric Deck-Resurface $0 $0 $0 $0 $0 111 Trex Bridges-Replace $0 $0 $0 $0 $0 200 Asphalt-Overlay $0 $0 $0 $0 $0 201 Asphalt-Remove/Replace $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $0 $24,360 $0 $0 $26,618 206 Stamped Concrete-Replace $0 $0 $0 $0 $16,939 320 Pole Lights-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 502 Perimeter Chain Link-Replace $0 $0 $0 $0 $0 503 Metal Fence/Rail-Repair/Replace $0 $0 $0 $0 $0 509 Wood Trellis-Replace(Pool Bldg) $0 $0 $6.896 $0 $0 509 Wood Trellis-Replace(Trash Area) $20,000 $0 $0 $0 $0 704 Intercom-Replace $0 $0 $0 $0 $0 705 Gate Operator-Replace(East Gate) $6,000 $0 $0 $0 $0 705 Gate Operator-Replace(Rear Gate) $0 $0 $6,365 $0 $0 705 Gate Operator-Replace(West Gate) $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 801 Boilers-Replace $0 $0 $0 $0 $0 802 Boiler Pump-Replace $4,500 $4,635 $4,774 $4,917 $5,065 803 Water Storage Tank-Replace $0 $0 $0 $0 $0 1703 Stream Beds-Clean $10,000 $10,300 $10,609 $10,927 $11,255 1703 Stream Ponds-Drain and Fill $43,750 $0 $0 $0 $0 1810 Golf Carts-Replace/Refurbish $0 $0 $0 $0 $0 Total Expenses $1,704,050 $630,360 $666,298 $433,430 $484,925 Ending Reserve Balance: $645,950 $810,590 $986,992 $1,446,824 $1,908,756 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 One Quail Place 4:32 PM Palm Desert Housing Authority Palm Village Reserve Analysis „ 4'` Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $36,366 $112,866 $166,720 $251,061 $335,003 Annual Reserve Contribution $76,500 $80,325 $84,341 $88,558 $92,986 Special Appropriation $0 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $112,866 $193,191 $251,061 $339,620 $427,989 # Component 104 Elastomeric Deck-Seal/Repair $0 $26,471 $0 $0 $28,926 105 Elastomeric Deck-Resurface $0 $0 $0 $0 $0 303 HVAC Units-Replace(Maint.) $0 $0 $0 $0 $0 303 HVAC Units-Replace(units) $0 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 503 Metal Fence/Rail-Repair $0 $0 $0 $0 $0 802 Solar Converters-Replace $0 $0 $0 $0 $0 802 Solar Panels-Replace $0 $0 $0 $0 $0 1113 Carport Frames-Repaint $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1304 Tile Roof-Replace Underlayment $0 $0 $0 $0 $0 1308 Metal Carport Roof-Replace $0 $0 $0 $0 $0 1310 Gutters-Replace $0 $0 $0 $0,�.* } y`$0 Et t ti: 803 Water Heater/Tank-Replace(units) $0 $0 $0 $0 $0 901 Dishwashers-Replace $0 $0 $0 $0 $0 901 Refrigerators-Replace $0 $0 $0 $0 $0 901 Stoves-Replace $0 $0 $0 $0 $0 909 Unit-Renovation $0 $0 $0 $0 $0 � Z ' az 3 r r a 0 4e v . ; n r, a_.Sr.1 ...., a ; ,r a...$< a i5''�Y ..¢�x ^, '-"-'as za'. 'r^a''a7��`� ' ' "i m.2r." t a , t, it A 303 HVAC Unit-Replace(Laundry) $0 $0 $0 $0 $0 803 Water Heater-Replace(Laundry) $0 $0 $0 $0 $0 910 Laundry Room-Renovate $0 $0 $0 $0 $0 910 Maintenance Room-Renovate $0 $0 $0 $0 $0 i Je }"w ..s r $1 u,. x+- s fh r a s a '4R?., 4r a ' - : 5 z.. } �`.12*e ': - ;'wv"' .,udsr„ .tr--,‘, -", :w , e.., `,_ ,. r`v,•z": n Sr -5„ + 41,4 1003 Irrigation Controller $0 $0 $0 $0 $0 Eatfi'tr: ,, x 4 . ,o- ^c f rhm,r ,r i,N y,, i�..;r- �'. ....m,�. ,..��` f h�, ev' p'a � ,,'`,.-a'i �.° "' 'a 3 :7�'r 5:��4�i4'sh.Y� Ai�'tt.:8?� ;�."..� 103 Concrete DeckNValk-Repair $0 $0 $0 $4,617 $0 320 Pole Lights-Replace $0 $0 $0 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 1402 Signage-Replace $0 $0 $0 $0 $0 Subtotal $0 $26,471 $0 $4,617 $28,926 Ending Reserve Balance: $112,866 $166,720 $251,061 $335,003 $399,064 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Palm Village 4:32 PM Palm Desert Housing Authority Pueblos Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $107,850 $134,350 $36,405 $36,349 Annual Reserve Contribution $25,000 $26,500 $28,090 $29,775 $31,562 Special Appropriation $180,000 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $205,000 $134,350 $162,440 $66,180 $67,911 # Component Illii00i a .- .., �l'12 Wili _ h?'ES I ,. lig +:Cc ,}finVkA+SI 303 HVAC Units-Replace(New) $0 $0 $0 $0 $0 303 HVAC Units-Replace(Old) $37,700 $0 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $25,297 $0 1301 Flat Roof-Replace(2004) $0 $0 $0 $0 $0 1301 Flat Roof-Replace(old) $23,950 $0 $0 $0 $0 1304 Tile Roof-Replace Underlayment $0 $0 $0 $0 $0 1308 Metal Carport Roof-Replace $0 $0 $0 $0 $0 Y:;rs x ^we- } .fie' n p j a t n y ti0q-,;[ 4.1 < ,.2, .a �i#�P „Y "v"ze s . .T,.:. I1Sx'iF. t .�� f.��'"++, 401 Exterior Shades-Replace $8,250 $0 $0 $0 $0 803 Water Heaters-Replace $14,000 $0 $0 $0 $0 901 Range-Replace $0 $0 $6,790 $0 $0 901 Refrigerators-Replace $0 $0 $9,601 $0 $0 910 Unit-Renovation(1991) $0 $0 $108,212 $0 $0 910 Unit-Renovation(2008) $0 $0 $0 $0 $0�/ 10: 105 Pool Deck-Resurface $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $0 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1208 Pool Heater-Replace $0 $0 $0 $0 $0 1210 Pool Pump-Replace $0 $0 $0 $0 $0 aarz . '4r . r ,s . � a < .Ge:: 43 o r.. '-4 r : 1' Y`,q'E t1 t 4. ..`4;, 1003 Irrigation Timer-Replace $0 $0 $1,432 $0 $0 , ...L � ggb yp? y , , „ d .i ,, c{. > G Y� , s 503 East Perimeter Railing-Install $10,050 $0 $0 $0 $0 503 PoolMalkway Fence-Replace $0 $0 $0 $0 $0 503 Rear Patio Railings-Install $3,200 $0 $0 $0 $0 1105 Block/Stucco Wall-Repaint $0 $0 $0 $4,535 $0 Subtotal $97,150 $0 $126,035 $29,831 $0 Ending Reserve Balance: $107,850 $134,350 $36,405 $36,349 $67,911 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Pueblos 4:32 PM Palm Desert Housing Authority Taos Palms Reserve Analysis Fiscal Year 2010 2011 2012 2013 2014 Starting Reserve Balance $0 $47,200 $87,108 $110,123 $165,547 Annual Reserve Contribution $47,200 $49,796 $52,535 $55,424 $58,473 Special Appropriation $0 $0 $0 $0 $0 Interest Earnings $0 $0 $0 $0 $0 Subtotal $47,200 $96,996 $139,643 $165,547 $224,020 #Component 303 HVAC UNITS-Replace(1) $0 $0 $0 $0 $0 303 HVAC Units-Replace(2) $0 $0 $0 $0 $0 303 HVAC Units-Replace(3) $0 $9,888 $0 $0 $0 324 Wall Lights-Replace $0 $0 $0 $0 $0 701 Unit Entry Doors-Replace $0 $0 $0 $0 $0 1115 Stucco-Repaint $0 $0 $0 $0 $0 1116 Trim/Doors-Repaint $0 $0 $18,168 $0 $0 1121 Wood Trellis/Overhang-Replace $0 $0 $0 $0 $0 1301 Asphalt/Gravel Roof-Replace $0 $0 $0 $0 $0 1311 Skylights-Replace $0 $0 $0 $0 $0 :'`Tenw.,, a„x.Z:, .. -, -r_'.Q a>41‘4-:n V�� C Y'F,.'�u " 803 Water Heaters-Replace $0 $0 $0 $0 $0 901 Refrigerators-Replace $0 $0 $0 $0 $0 901 Stoves-Replace $0 $0 $0 $0 $0 910 Units-Renovate $0 $0 $0 $0 $0 $".4 • '45nat." ': ° bl.`ta, ,s !!wrs�,�. s�} swz, w ,viWlia# 910 Laundry Room-Renova�t.�ion $0 $0 $0 $0 $0 404 Pool Furniture-Replace $0 $0 $0 $0 $0 1202 Pool-Resurface $0 $0 $8,699 $0 $0 1207 Pool Filter-Replace $0 $0 $0 $0 $0 1210 Pool Pump-Replace $0 $0 $0 $0 $0 2 e�a :»,b :'sl._n a - ��ll�,- _ '-.44.�.r' r�t- r+.�-,a.,,,.$§kY" , .-, :,Y 3 a @+ h`-.- bf , t.u.,,,t 1003 Irrigation Controllers-Replace $0 $0 $0 $0 $0 103 Concrete Deck/Walk-Repair $0 $0 $0 $0 $2,898 200 Asphalt-Overlay $0 $0 $0 $0 $0 201 Asphalt-Remove 8 Replace $0 $0 $0 $0 $0 202 Asphalt-Seal/Repair $0 $0 $2,652 $0 $0 403 Mailboxes-Replace $0 $0 $0 $0 $0 503 Metal Fence/Rail-Repair $0 $0 $0 $0 $0 708 Trash Gates-Replace $0 $0 $0 $0 $0 Subtotal $0 $9,888 $29,520 $0 $2,898 Ending Reserve Balance. $47,200 $87,108 $110,123 $165,547 $221,122 G:\rda\HOUSING\RENTAL\Replacement Reserve Fund Study\Combined Years 1-5 2/1/2011 Taos Palms 4:32 PM 'oi 01 LEI � �- imp A m .�. „8. mu T 0 'M , o v xi Al ��,�1 ie 9 a < N H n [l„ it It= r ` rw - V.f,' , G yq . 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