PaintRoofSummary

The Paint, Siding, and Roof Replacement Summary is a spreadsheet that shows which buildings have received roof replacement, new paint, and siding repair - and the year in which these were accomplished. Summary dollar figures have also been included to give homeowners an insight into historical replacement expenses, and an indication of what future costs are likely to be.

PLEASE NOTE: This spreadsheet is a tool developed to assist the Board of Directors efforts to create a responsible and cost-efficient building maintenance schedule. Maintenance accomplished through year 2004 indicates which buildings have been re-roofed, or received new paint & siding repair. Year 2005 forward must be viewed as a Planning Document ONLY in that changes have and will continue to occur to the schedule. Adjustments are often made based on a variety of factors, not the least being budgetary considerations which may change from year to year. The Board of Directors will not be held to any particular schedule or held responsible should buildings scheduled for maintenance be placed on hold or changed in order of priority - for inevitably, they will. Maintenance decisions based on the most current information available are subject to change without notice.

That being stated and understood, in 1977 the Board of Directors developed and implemented a master plan for major building maintenance. For some background information, please read this article which appeared in the 2001 Under the Oak Leaf Newsletter. The building maintenance master plan indicates that all 15 buildings will receive a new roof, new paint, and significant siding repair for the first time in approximately fifteen-twenty years. This initial process will take eight years to accomplish all buildings. The process will be immediately repeated beginning the in eighth year. Thereafter, all buildings are placed on a permanent five-year maintenance schedule for new paint & siding repair; roof replacement every fifteen years.

FUNDING PRIORITIES FOR THE 2001 BUDGET

The Association's 2001 budget funding priorities are unchanged from the previous four years. The first priority is the upkeep of two more buildings: replace roofs, replace deteriorated siding, wood trim and gutters (I call it "rehab"), and re-paint. The second priority is to protect and increase the reserve amount to fund capital projects that serve as a buffer against special assessment.

The Oaks condominiums consist of 15 buildings, containing 75 units. Built between 1980 - 1984, they are 16 - 20 years old. By the mid-90s, critical repairs became numerous and expensive as materials began to reach the end of their life span. Defective workmanship in the original construction has contributed to the rapid deterioration of our buildings. Funds in operating and reserve accounts were insufficient to pay for these needed replacements and maintenance.

In 1997, The Oaks addressed this problem by implementing a planned schedule to re-roof, ‘rehab,’ and re-paint two buildings each year until all 15 buildings are complete. The Board decided to accomplish this with an annual rise in homeowner's dues rather than impose a special assessment. Since 1997, eight buildings have received new roofs; seven buildings have been ‘rehab'ed’ and painted. Costs have increased each year, as shown in the chart below. As you can see, Building Maintenance, including paint and ‘re-hab’ projects, consumes approximately half the total annual budget.

In 2001, we’re halfway toward achieving our goal. At the rate of two buildings per year, all buildings will receive re-roofing, ‘re-hab,’ and new paint by 2004. Buildings will then be placed on a 5-year paint / ‘re-hab’ schedule as well as a 20-year roofing schedule. Funds will be set aside and allocated accordingly, to insure adequate funding for cyclical maintenance and replacement.

We’re not out of the woods. Other “big-ticket” items, such as the deteriorating condition of our parking lot, are becoming more pressing. We realize how much needs to be done on the Oaks property and grounds with our limited funds. The Board strives to a strike a budget balance between spending priorities and rising monthly assessments. We urge you to stay informed by attending the annual Homeowners meeting in February, monthly Board meetings, and by reading your bi-monthly newsletter.

- Bonnie Latham