Town Hall Meeting August 18, 2016

Transcription

1 Town Hall Meeting August 18, 2016

2 Welcome & Opening Comments Ray Tarnosky 2016 Board President Savannah Lakes Village, POA

3 Town Hall Agenda Year to Date Financial Update 2. SLV Dock Program Update 3. Highlighted Community Improvements 4. Connectivity Trail Project Update

4 2016 Year to Date Financial Update James Sparks CFO, Savannah Lakes Village

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7 SLV Dock Program Update Phil Gates Director of Community Services Savannah Lakes Village

8 Key Information 1. Authorized 725 Lake Front Docks, Actual Authorized 475 Community Slips, Actual separate locations around 20+ miles of shoreline

9 Private Docks 1. Current cost $17,000, 30 year lease. 2. Cost more than $17,000 to put in first private dock due to Trail, Power, Permit and other expenses. 3. Cash breakeven at 2 private docks per location. 4. Currently 17 do not have 2 docks

10 Private Docks Year Built s

11 Community Docks Of the 475 authorized docks, 275 do not show up on the Plat Maps. Land Use Planning for future locations and parking areas.

12 Community Docks Vacancy

13 Costs Covered by Maintenance Fee 1. Direct and Indirect Labor 2. Utility Cost 3. Property and Liability Insurance 4. Corps of Engineers permit renewals 5. Operation of support equipment 6. Dock components and replacements 7. Paths and Bridge Maintenance 8. Maintenance of Docks

14 Labor 1. 2 Full time and 1 Seasonal full time 2. Other CS specialist call upon as needed 3. CS Staff used in Cases of Emergency 4. Supervision provided by Phil and Stacy 5. Safety: Always at least two people when working around water

15 Monthly Maintenance 1. Clean remove dust, spider webs and check electrical system 2. Clean Trails remove limbs and repair damage 3. Check and replace lighting hours including drive or boat time = 182 hours for cleaning out of a total possible of 480 hours per month (includes temp hours) 5. 38% of available time for cleaning

16 Other Seasonal Maintenance 1. Pressure wash each dock Annually 2. Maintain dock Mooring Systems - winches, cables and mooring anchors 3. Adjusting docks to Lake levels - Average 4 moves per year per location : Averaged 6 dock adjustments per location. 5. Average: It takes 2 people, 1.5 hours to adjust dock level per location.

17 Maintenance 1. Deck Sealed and treated every 15 to 24 months 2. Deck Replaced as needed 10 to 15 years 3. Lights and Electrical Hardware replaced as needed

18 Estimated Cost if Dock Maintenance was Contracted at current standards: 1. Monthly cleaning remove dust, spider webs and cleaning $100X12 months=$1, Check and replace lighting $50 3. Pressure Wash $ Annual Electrical inspection $ Move dock due to water Level $200 per move. Average 4 per year -- $ Seal deck top $500/2 years -- $ Replace Deck top $2, $ Annual Cost of Maintenance -- $2,900

19 Total Dock Revenue $323K $334K $308K $297K $289K $274K $266K $307K $295K

20 Dock Maintenance Revenue $170K $183K $183K $180K $176K $174K $170K $180K $192K

21 Total Dock Revenue Maintenance Revenue $191,804 $179,860 $170,200 $174,350 $175,975 Lease Revenue 96,321 99,983 90,200 96,934 99,905 other 7,645 27,343 5,758 3,115 13, , , , , ,423 Expenses (201,282) (180,925) (178,367) (157,101) (166,531) Depreciation (95,948) (110,327) (133,485) (135,082) (141,559) Net income (Loss) ($1,460) $15,934 ($45,694) ($17,784) ($18,667)

22 Total Dock Revenue $350,000 $340,000 $330,000 $320,000 $310,000 $300,000 $290,000 $280,000 $270,000 $260,000 $250,000 Historical Boat Dock Revenues

23 Community Improvement Projects Kirk Smith Chief Operating Officer Savannah Lakes Village

24 Community Reinvestment Development of financial position to carefully reinvest back into the community s fixed assets. Past two years: Funding community improvements through cash generated through operations. 5 Year Cash Flow Objective: To fund repair and replacement capital needs to the level of cash generated through operations. Limit draw downs from Capital Reserve Fund.

25 RC Locker Room Renovation Before After

26 RC Locker Room Renovation Before After

27 RC Locker Room Renovation Before After

28 RC Locker Room Renovation Before After

29 RC Locker Room Renovation Before After

30 Monticello Clubhouse Reno

31 Monticello Clubhouse Reno

32 Monticello Clubhouse Reno

33 Office Building Purchase Purchased on April 11, 2016 Net cash price: $130, ,200 sq ft plus 1.1 acres SLV oversaw the payoff timber harvesting advancement note from proceeds of sale. Filed 3 Year Timber Harvesting deed restriction on all remaining unharvested timber owned by Eight Acre LLC, protecting key corridors in SLV.

34 Key Objectives of Purchase Protect property along Highway 378 from timber harvesting contract. Protect additional property owned by Eight Acre LLC along key corridors from timber harvesting with three year deed restriction. Acquire the building and commercial land below comps. Improve the aesthetics of community and provide level of control over future use of the building.

35 Office Location & Land Use

36 Satisfied Timber Harvesting Advancement

37 Three Year Deed Restriction on Timber Harvesting

38 Three Year Deed Restriction on Timber Harvesting

39 Going Forward Extensive inspection was conducted prior to purchase of building. Soliciting bids for repair work identified new roof deck and roofing, non structural framing and drywall repair, new HVAC. Building is ideal for expansion of medical park services along Holiday Road and will support future land use and development plans.

40 Cart Path Repaving P2 of 3 Project will include #10, #11, #17, #18, top of #5, and part of #4. Tentatively scheduled for later part of next week.

41 RC Bowling Alley Project to include: Pin setters, synthetic lanes, gutter guards, ball return, seating, and digital scoring. Estimated start date is mid September, with an estimated 2 week installation timeline. Expectation is for project to be complete prior to fall bowling leagues.

42 Tara Bunker Conversion Tara Bunker Conversion Update: Status: Received quotes from an outside contractor on conducting the majority of the bunker conversion and reshaping of bunkers. Timing: Too late in the season and scheduling process to fully establish sod in the impacted areas, prior to the dormant season. Project is on hold: We will include the project in the 2017 budget and capital forecast planning process.

43 Monticello Pond Dam Reviewed project with three potential contractors onsite and have also met with a civil engineer living in Savannah Lakes. Recommendation is to start lowering the pond level immediately to help mitigate the possibility of a serious breach/blowout. Dropping the water level is necessary for repairing the pond dam, and also making improvements and clean up to the shoreline around the pond. Dam reconstruction and pond cleanup will be a 2017 capital project time to lower the pond level and get through the wet winter season.

44 UV System for RC Spa UV System Conversion for Spa UV system was installed Thursday, July 21. Converted the spa to an ultra violet system, significantly reducing the amount of airborne chloramines when the spa is in use. Results and feedback from users has been very positive.

45 Other Maintenance Projects Example of monthly report of ongoing operational maintenance projects. Report is included with all monthly board meeting minutes.

46 Other Maintenance Projects Village Drive / Resort Area Entrance

47 Other Maintenance Projects Tara Clubhouse & Golf Grounds Before After

48 Other Maintenance Projects Tara Clubhouse & Golf Grounds Objective: To establish a sustainable maintenance program for a high visibility area that has been an eye sore and source of complaints for the Tara Clubhouse Grounds for many years. Status: Have cleared underbrush and trees and removed majority of debris. Next Steps: Establish a rough grade, tie into existing irrigation, and over seed with perennial rye grass (Target: November 1)

49 Other Maintenance Projects Tara Clubhouse & Golf Grounds 2017: Sod areas that are suitable for mowing. Establish ground cover in areas that cannot be mowed. Future: Supports future expansion of practice green as the community recognizes growth.

50 Connectivity Trail Update George Webb Vice President Savannah Lakes Village, BOD

51 Town Hall Meeting August 18, 2016