Sea le, WA Account SAMPLE CONDO Version SAMPLE January 01, Bellevue Way NE, #483 Bellevue, WA

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1 Sea le, WA Account SAMPLE CONDO Version SAMPLE January 01, Bellevue Way NE, #483 Bellevue, WA Prepared By Quality Check By Page 1

2 Disclosures Reserve Study Summary Profile Parameters Summary Name Sample Condominium HOA Location Seattle, WA # of Units / Members 19 General Type Condominium Base Year / Age January, Fiscal Year Ends December, Level of Service Level I Full Reserve Study (With Site Visit) Prepared for Fiscal Year January, On Site Inspection Date March, Allocation Increase Rate ref Funding Model Summary Contingency Rate ref Component Detail Report Inflation Rate ref Funding Model Summary Interest Rate ref Funding Model Summary Tax Rate ref Funding Model Summary Current Reserve Allocation * $10,174 per year Current Reserve Balance * $69,788 Funding Plan Method Cash Flow achieve 100% funded in 30 years *FY Start Balance $69,788 **Fully Funded Balance $205,160 (ideal amount in reserve account) Current Percent Funded 34% Recommended Budget per year per month per unit a month **Reserve Allocation $29,100 $2,425 $128 The Reserve Allocation was determined using the Funding Plan indicated above under the Parameters section. This allocation should be increased annually using the Allocation Increase Rate found in the Cash Flow Analysis. *Current Reserve Balance and Allocation rate not independently verified or audited, this information has been supplied by the Client. **Based on Recommended Funding Plan We recommend the Association management should budget the Reserve Allocation amount toward reserves for next fiscal year, to ensure the availability of reserves to fund future reserve component expenditures. The Reserve Allocation must be reviewed and adjusted for inflation (and other vital factors) in succeeding years to ensure the security of a Successful Plan. This reserve study should be reviewed carefully. It may not include all common and limited common element components that will require major maintenance, repair, or replacement in future years, and may not include regular contributions to a reserve account for the cost of such maintenance, repair, or replacement. The failure to include a component in a reserve study, or to provide contributions to a reserve account for a component, may, under some circumstances, require you to pay on demand as a special assessment your share of common expenses for the cost of major maintenance, repair, or replacement of a reserve component. Page 2

3 Disclosures Excluded Common Area Components The below common area components have been excluded from funding in this reserve study. Note that the inclusion of any of these items at a later date via a revision or update to this study will impact the funding strategies developed by the Reserve Analyst. Long Life Items The below components are long life community common areas that, at this time, have no predictable useful life, predictable remaining useful life or associated costs within the timeframe of this reserve study. Plumbing (building remodeled in 2002) Electrical (building remodel in 2002) Retaining walls Page 3

4 Disclosures Component Summary Descrip on Date in Service Replacement Year Useful Life Asphalt Overlay , ,509 Asphalt Reseal/Stripe & Repair , ,267 Cement Fiber Siding & Trim Paint , ,726 Chain Link Pool Replace , ,781 Chain Link Fencing Replace lf ,550 Concrete & Marblecrete Paint , ,799 Concrete & Marblecrete Bldg Surfaces Re.. Long Life Item Concrete Surfaces 5% Repair sf ,360 Elevated Walkways Replace Long Life Item Elevated Walkways Seal sf ,280 Entry Access Replace each 2, ,500 Exterior / Entry Doors Paint each ,040 Exterior / Entry Doors Replace each 1, ,000 Faux Stone Clean/Seal/Repair sf Faux Stone Replace Long Life Item Fiber Cement Siding Replace Long Life Item Gu ers/dwnspts Replace lf ,762 Interior Carpet Replace sy ,997 Interior Doors Replace each ,000 Interior Lights Replace , ,600 Interior Railing Replace lf ,595 Interior Storage Doors Replace each ,000 Interior Surfaces Paint ,429 sf ,655 Interior Vinyl Flooring Replace sf ,532 Landscaping Renova ons , ,477 Ligh ng Exterior Fixtures Replace , ,830 Mailboxes Replace each ,700 Metal Fencing Replace , ,790 Metal Railings Paint lf ,232 Metal Railings Replace lf ,976 Pool Resurface sf ,136 Pool Re le/coping lf ,880 Pool Cover Replace each 3, ,500 Pool Deck Coat/Seal sf ,702 Pool Deck Resurface ,000 sf ,500 Pool Filter Replace each 1, ,200 Pool Furniture Replace , ,600 Pool Heater Replace each 2, ,500 Pool Shed Repair Con ngency ls 1, ,500 Roof Comp. Shingle Replace squares ,559 Sign Live Fremont Replace each 2, ,500 Adjustment Remaining Units Cost Unit Cost Current Page 4

5 Disclosures Component Summary Descrip on Date in Service Replacement Year Useful Life Windows Vinyl Replace ,667 sf ,886 Wood Fencing Paint/Stain ,048 sf ,285 Wood Fencing Replace lf ,495 Wood Siding & Trim Major 25% Replace , ,507 Wood Siding & Trim Minor 5% Replace , ,603 Wood Siding & Trim Paint/Stain , ,006 Total Asset Summary $360,191 Adjustment Remaining Units Cost Unit Cost Current Page 5

6 Recommended Funding Model Summary Report Parameters Report Date January 01, 2017 Account Number SAMPLE CONDO Version SAMPLE Budget Year Beginning January 01, 2017 Budget Year Ending December 31, 2017 Total Units 19 Infla on 3.00% Annual Assessment Increase 3.00% Interest Rate on Reserve Deposit 0.70% Tax Rate Included in Interest Rate 2017 Beginning Balance $69, Comments from Reserve Date Analysis We have developed a funding plan which will help steer the community into a high funded range over a period of 30 years. This funding plan is very realistic for the community and helps to guide the community out of the current poor/fair funding range in a relatively short period of time. This Recommended Funding Plan requires the Association to allocate the recommended allocation amount into the reserve account with annual increases over the 30 years covered in this study. In the following pages you will find the recommended allocation rates to the reserve account, expenditures expected and the percent funded of the community if following this Recommended Funding Plan. This Recommended Funding Plan Takes into Account 4 Basic Principles: 1. There are adequate reserves when needed 2. The budget should remain stable across years of changing Membership and Boards 3. The costs are fairly distributed to the membership 4. The Funding Plan must allow the Association / Board to be fiscally responsible Recommended Funding Model Summary of Calcula ons Required Month Contribu on $2, $ per unit monthly Average Net Month Interest Earned $23.76 Total Month Alloca on to Reserves $2, $ per unit monthly Page 6

7 Recommended Funding Model Projec on Beginning Balance: $69,788 Projected Fully Current Annual Annual Annual Ending Funded Percent Year Cost Contribu on Interest Expenditures Reserves Reserves Funded ,191 28, ,607 53, ,163 36% ,996 29, ,844 78, ,296 46% ,126 30, ,866 83, ,661 49% ,590 31, , ,394 57% ,398 32, , ,697 64% ,560 33, , , ,324 65% ,086 34,030 1,149 4, , ,743 70% ,989 35,051 1,254 20, , ,775 72% ,279 36,103 1,481 4, , ,811 76% ,967 37,186 1,372 53, , ,231 75% ,066 38,302 1,226 59, , ,527 74% ,588 39,451 1, , ,744 78% ,546 40,634 1,703 13, , ,840 81% ,952 41,853 1,957 6, , ,725 83% ,821 43,109 1,755 73, , ,337 83% ,165 44,402 1,793 40, , ,106 84% ,000 45,734 1,957 23, , ,942 86% ,340 47,106 2,185 15, , ,364 88% ,200 48,519 2,452 12, , ,775 89% ,596 49,975 2,338 67, , ,875 90% ,544 51,474 2,145 80, , ,555 90% ,061 53,018 2, , ,469 92% ,162 54,609 2,760 23, , ,176 93% ,867 56,247 2,965 29, , ,120 94% ,193 57,935 2,956 61, , ,801 95% ,159 59,673 2,943 63, , ,357 96% ,784 61,463 3, , ,772 97% ,087 63,307 3,701 21, , ,360 98% ,090 65,206 4,121 8, , ,296 98% ,813 67,162 2, , , , % Page 7

8 Recommended Funding Model vs Fully Funded Chart The Recommended Funding Model has been developed after a review of the components and financial records of the Association. This funding plan has a target of placing the community on a path towards a high funding level in a stable, realistic and fair approach. As can be visually seen in this graph the Recommended Funding Model has a reserve account balance that gradually increases to the "Fully Funded" (ideal) balance over a period of 30 years. Page 8

9 Recommended Funding Model Annual Balance & Expenditures Chart R ~ s en'~ Acccouni B olan c ~ & ExpendilUI ~ s - R N:omm end~d Plan '1 8 '20 '22 '24 '2b '28 '30 '32 '34 '36 ' ).8 '4{) '42 '44 '4<i Fiscal Y ~ a r c:::j R N:omm end~ d Funding Mod el Ending _ R N:omm end~d Funding Mod el Exp endilui~ Page 9

10 Funding Model Comparison by Percent Funded Chart The above chart compares the funding models provided by percentage funded as calculated annually over the 30 year timeline covered in this study. Page 10

11 Funding Model Balance Comparison Chart The chart above compares the annual year end balance of the funding plans provided in this study. Page 11

12 Current Assessment Funding Model Summary Report Parameters Report Date January 01, 2017 Account Number SAMPLE CONDO Version SAMPLE Budget Year Beginning January 01, 2017 Budget Year Ending December 31, 2017 Total Units 19 Infla on 3.00% Annual Assessment Increase 3.00% Interest Rate on Reserve Deposit 0.70% Tax Rate Included in Interest Rate 2017 Beginning Balance $69, Comments on the Current Funding Model of the Association The Current Funding Model does not adequately fund the reserve account within the timeframe of this reserve study. This funding model assumes a 3% increase to the Current reserve allocation rate annually which still does not meet the projected obligations over the 30 years of this study. Continuing with this funding model will likely lead to a high risk of special assessments, loans and/or deferred maintenance issues. Note that while reserve account balance and percent funded could not realistically be in a negative territory it has been included as a visual representation of the amount that the community is in shortfall. Current Assessment Funding Model Summary of Calcula ons Required Month Contribu on $ $44.62 per unit monthly Average Net Month Interest Earned $17.96 Total Month Alloca on to Reserves $ $45.57 per unit monthly Page 12

13 Current Assessment Funding Model Projec on Beginning Balance: $69,788 Projected Fully Current Annual Annual Annual Ending Funded Percent Year Cost Contribu on Interest Expenditures Reserves Reserves Funded ,191 10, ,607 35, ,163 24% ,996 10, ,844 41, ,296 24% ,126 10, ,866 26, ,661 15% ,590 11, , ,394 19% ,398 11, , ,697 21% ,560 11, ,313 28, ,324 12% ,086 12, ,179 36, ,743 14% ,989 12, ,733 28, ,775 10% ,279 12, ,560 36, ,811 12% ,967 13,275 53,681 3, ,231 1% ,066 13,673 59,949 49, ,527 19% ,588 14,083 35, ,744 12% ,546 14,506 13,766 34, ,840 11% ,952 14,941 6,906 26, ,725 7% ,821 15,389 73,204 84, ,337 26% ,165 15,851 40, , ,106 33% ,000 16,326 23, , ,942 33% ,340 16,816 15, , ,364 30% ,200 17,321 12, , ,775 26% ,596 17,840 67, , ,875 40% ,544 18,375 80, , ,555 60% ,061 18, , ,469 48% ,162 19,494 23, , ,176 46% ,867 20,079 29, , ,120 45% ,193 20,682 61, , ,801 54% ,159 21,302 63, , ,357 64% ,784 21, , ,772 52% ,087 22,599 21, , ,360 48% ,090 23,277 8, , ,296 41% ,813 23, , , , % Page 13

14 Current Funding Model vs Fully Funded Chart The Current Funding Model is based on the current annual assessment, parameters, and reserve fund balance. Because it is calculated using the current annual assessment, it will give the accurate projection of how well the association is funded for the next 30 years of planned reserve expenditures. As can be seen in the above graph the Current Funding Model is not adequate for the long term financial health of the Association. Note that the reserve account would not realistically have a negative balance but this is visually expressed to show the reader the true extent of the deficit that will need to be addressed should no changes to the current funding model be made. Page 14

15 Baseline Funding Model Summary Report Parameters Report Date January 01, 2017 Account Number SAMPLE CONDO Version SAMPLE Budget Year Beginning January 01, 2017 Budget Year Ending December 31, 2017 Total Units 19 Infla on 3.00% Annual Assessment Increase 3.00% Interest Rate on Reserve Deposit 0.70% Tax Rate Included in Interest Rate 2017 Beginning Balance $69, Reserve Data Analysis Comments on Baseline Funding Plan The Baseline funding plan is a requirement of Washington State RCW s for the Reserve Study contents. WA State RCW Link: This is a bare minimum approach which has a goal of only keeping the reserve account balance above $0 and long term does not place the community in a good funding range (above 70%) for much of the time period over the 30 years covered in this reserve study. We do not suggest following this funding method as it does not place the community in a high funding range within the time period covered in this report and fails to reach a 100% percent "ideal" funded level at any point. Baseline Threshold Funding Model Summary of Calcula ons Required Month Contribu on $1, $ per unit monthly Average Net Month Interest Earned $22.13 Total Month Alloca on to Reserves $1, $ per unit monthly Page 15

16 Baseline Funding Model Projec on Beginning Balance: $69,788 Projected Fully Current Annual Annual Annual Ending Funded Percent Year Cost Contribu on Interest Expenditures Reserves Reserves Funded ,191 23, ,607 48, ,163 32% ,996 24, ,844 68, ,296 40% ,126 24, ,866 67, ,661 39% ,590 25, , ,394 47% ,398 26, , ,697 52% ,560 27, , , ,324 50% ,086 27, , , ,743 54% ,989 28, , , ,775 55% ,279 29,565 1,125 4, , ,811 58% ,967 30, , , ,231 54% ,066 31, , , ,527 48% ,588 32, , ,744 53% ,546 33,276 1,140 13, , ,840 55% ,952 34,274 1,337 6, , ,725 58% ,821 35,302 1,077 73, , ,337 52% ,165 36,361 1,055 40, , ,106 51% ,000 37,452 1,156 23, , ,942 52% ,340 38,575 1,319 15, , ,364 54% ,200 39,733 1,519 12, , ,775 56% ,596 40,925 1,336 67, , ,875 53% ,544 42,152 1,071 80, , ,555 47% ,061 43,417 1, , ,469 52% ,162 44,719 1,536 23, , ,176 53% ,867 46,061 1,662 29, , ,120 54% ,193 47,443 1,570 61, , ,801 52% ,159 48,866 1,472 63, , ,357 50% ,784 50,332 1, , ,772 54% ,087 51,842 2,053 21, , ,360 56% ,090 53,397 2,379 8, , ,296 58% ,813 54, ,711 55, ,309 17% Page 16

17 Baseline Funding Model vs Fully Funded Chart The Baseline Funding Model calculates the minimum reserve assessments, with the restriction that the reserve balance is not allowed to go below $0, during the period of time examined. All funds for planned reserve expenditures will be available on the first day of each fiscal year. The Baseline Funding Model is typically the bare minimum an Association should consider in their budgeting decisions. This funding model often has the benefit of lower allocation rates to the reserve account but also carries negative factors such as wide variations to the annual allocation rates and long periods of time where the Association remains in a poor and/or fair funding level when the risk for reliance on special assessments and loans are highest. We do not recommend following the Baseline Funding Model as it does not have a stable allocation rate to the reserve account and does not typically place the Association in a good funding level for an extended period of time. The Baseline Approach has been included per Washington State RCW requirements for Reserve Study Contents. Page 17

18 Component Funding Model Summary Report Parameters Report Date January 01, 2017 Account Number SAMPLE CONDO Version SAMPLE Budget Year Beginning January 01, 2017 Budget Year Ending December 31, 2017 Total Units 19 Infla on 3.00% Interest Rate on Reserve Deposit 0.70% Tax Rate Included in Interest Rate 2017 Beginning Balance $69, Component Funding Model Comments This is a "straight line" funding model. It distributes the cash reserves to individual reserve components and then calculates what the reserve assessment and interest contribution (minus taxes) should be, again for each reserve component. The current annual assessment is then determined by summing all the individual component assessments, hence the name Component Funding Model. This is the most conservative funding model as it typically requires the largest reserve allocation rate; typically resulting in the funding level being above 70% (good funding level) within a majority of the reserve study time period. The downside to this funding plan is that it is time intensive, requires significant management of assigning reserve funds to specific components and is not flexible should a component fail earlier than expected. Component Funding Model Summary of Calcula ons Required Month Contribu on $3, $ per unit monthly Average Net Month Interest Earned $27.08 Total Month Alloca on to Reserves $3, $ per unit monthly Page 18

19 Component Funding Model Projec on Beginning Balance: $69,788 Projected Fully Current Annual Annual Annual Ending Funded Percent Year Cost Contribu on Interest Expenditures Reserves Reserves Funded ,191 38, ,607 64, ,163 43% ,996 37, ,844 97, ,296 57% ,126 37, , , ,661 64% ,590 37, , ,394 74% ,398 38,121 1, , ,697 81% ,560 38,917 1,235 33, , ,324 85% ,086 39,528 1,490 4, , ,743 90% ,989 40,194 1,635 20, , ,775 93% ,279 40,900 1,900 4, , ,811 96% ,967 42,156 1,828 53, , ,231 99% ,066 43,060 1,719 59, , , % ,588 39,799 2, , , % ,546 40,134 2,220 13, , , % ,952 38,621 2,463 6, , , % ,821 39,043 2,239 73, , , % ,165 42,653 2,261 40, , , % ,000 44,002 2,416 23, , , % ,340 45,222 2,634 15, , , % ,200 43,457 2,879 12, , , % ,596 43,253 2,726 67, , , % ,544 52,306 2,518 80, , , % ,061 49,088 2, , , % ,162 50,973 3,099 23, , , % ,867 51,982 3,278 29, , , % ,193 51,419 3,233 61, , , % ,159 60,200 3,202 63, , , % ,784 58,040 3, , , % ,087 59,111 3,926 21, , , % ,090 56,736 4,302 8, , , % ,813 68,543 2, , , , % Page 19

20 Component Funding Model vs Fully Funded Chart The Component Funding Model s long term objective is to provide a plan to a fully funded reserve position over the longest period of time practical. This is the most conservative funding model and typically has higher allocation rate to the reserve account in years closest to the beginning of the study. This funding model has the positive factor of having an allocation rate near or at the ideal allocation rate (high percent funded) through much of the 30 year study but has the negative factors of a higher allocation rate, requiring significant time to adequately allocate funds to each components separately, keep track of this allocation monthly / annually and is not flexible should a component require replacement earlier than expected. Page 20

21 Component Funding Model Assessment & Category Summary Descrip on Replacement Year Life Useful Adjustment Life Remaining Cost Current Assigned Reserves Fully Funded Roofing Roof Comp. Shingle Replace , ,646 Roofing Total $35,559 $15,646 Ligh ng Ligh ng Exterior Fixtures Replace , ,685 Ligh ng Total $3,830 $1,685 Pool Pool Resurface ,136 14,136 14,136 Pool Re le/coping , ,234 Pool Cover Replace , ,265 Pool Deck Coat/Seal ,702 3,919 3,919 Pool Deck Resurface , ,783 Pool Filter Replace , Pool Heater Replace ,500 2,500 2,500 Pool Shed Repair Con ngency ,500 1,500 1,500 Pool Total $51,918 $22,055 $34,997 Building Components Entry Access Replace , ,528 Sign Live Fremont Replace , ,100 Building Components Total $5,000 $2,628 Gu ers/downspouts Gu ers/dwnspts Replace , ,125 Gu ers/downspouts Total $6,762 $2,125 Railings Metal Railings Replace , ,450 Railings Total $10,976 $3,450 Landscaping Landscaping Renova ons , ,112 Landscaping Total $7,477 $4,112 Recrea on Pool Furniture Replace , ,680 Recrea on Total $3,600 $1,680 Page 21

22 Component Funding Model Assessment & Category Summary Descrip on Replacement Year Life Useful Adjustment Life Remaining Cost Current Assigned Reserves Fully Funded Fencing Chain Link Pool Replace , ,386 Chain Link Fencing Replace , Metal Fencing Replace , Wood Fencing Replace , ,922 Fencing Total $11,617 $4,754 Paint/Stain/Seal Cement Fiber Siding & Trim Paint ,726 10,519 10,519 Concrete & Marblecrete Paint ,799 4,799 4,799 Elevated Walkways Seal ,280 5,280 5,280 Exterior / Entry Doors Paint ,040 1,020 1,020 Faux Stone Clean/Seal/Repair Faux Stone Replace Long Life Item Interior Surfaces Paint ,655 6,897 6,897 Metal Railings Paint , ,228 Wood Fencing Paint/Stain ,285 2,285 2,285 Wood Siding & Trim Paint/Stain ,006 8,006 8,006 Paint/Stain/Seal Total $49,894 $39,676 $40,904 Building Exteriors Concrete & Marblecrete Bldg Surfaces Repl.. Long Life Item Exterior / Entry Doors Replace , ,075 Fiber Cement Siding Replace Long Life Item Windows Vinyl Replace , ,919 Wood Siding & Trim Major 25% Replace , ,863 Wood Siding & Trim Minor 5% Replace ,603 2,603 2,603 Building Exteriors Total $139,997 $2,603 $41,460 Concrete Surfaces Concrete Surfaces 5% Repair ,360 1,360 1,360 Elevated Walkways Replace Long Life Item Concrete Surfaces Total $1,360 $1,360 $1,360 Asphalt Asphalt Overlay , ,120 Asphalt Reseal/Stripe & Repair ,267 1,267 1,267 Asphalt Total $9,777 $1,267 $4,387 Page 22

23 Component Funding Model Assessment & Category Summary Descrip on Replacement Year Life Useful Adjustment Life Remaining Cost Current Assigned Reserves Fully Funded Building Interiors Interior Carpet Replace ,997 1,999 1,999 Interior Doors Replace , ,650 Interior Lights Replace , ,980 Interior Railing Replace , Interior Storage Doors Replace , ,750 Interior Vinyl Flooring Replace , ,392 Mailboxes Replace , Building Interiors Total $22,424 $2,826 $10,833 Total Asset Summary $360,191 $69,788 $170,021 Percent Fully Funded 41% Current Average Liability per Unit (Total Units: 19) $5,275 Page 23

24 Distribu on of Accumulated Reserves Descrip on Remaining Replacement Assigned Life Year Reserves Fully Funded Reserves Asphalt Reseal/Stripe & Repair ,267 1,267 Concrete & Marblecrete Paint ,799 4,799 Concrete Surfaces 5% Repair ,360 1,360 Elevated Walkways Seal ,280 5,280 Faux Stone Clean/Seal/Repair Pool Resurface ,136 14,136 Pool Heater Replace ,500 2,500 Pool Shed Repair Con ngency ,500 1,500 Wood Fencing Paint/Stain ,285 2,285 Wood Siding & Trim Minor 5% Replace ,603 2,603 Wood Siding & Trim Paint/Stain ,006 8,006 Pool Deck Coat/Seal ,919 3,919 Cement Fiber Siding & Trim Paint ,519 10,519 Interior Surfaces Paint ,897 6,897 Exterior / Entry Doors Paint ,020 1,020 Interior Carpet Replace ,999 1,999 Interior Storage Doors Replace * 828 2,750 Pool Cover Replace ,265 Entry Access Replace ,528 Pool Furniture Replace ,680 Interior Lights Replace ,980 Interior Vinyl Flooring Replace ,392 Landscaping Renova ons ,112 Metal Railings Paint ,228 Pool Re le/coping ,234 Pool Filter Replace Wood Fencing Replace ,922 Ligh ng Exterior Fixtures Replace ,685 Roof Comp. Shingle Replace ,646 Sign Live Fremont Replace ,100 Wood Siding & Trim Major 25% Replace ,863 Asphalt Overlay ,120 Chain Link Pool Replace ,386 Chain Link Fencing Replace Mailboxes Replace Pool Deck Resurface ,783 Page 24

25 Distribu on of Accumulated Reserves Descrip on Remaining Replacement Assigned Life Year Reserves Fully Funded Reserves Gu ers/dwnspts Replace ,125 Metal Fencing Replace Metal Railings Replace ,450 Exterior / Entry Doors Replace ,075 Interior Doors Replace ,650 Interior Railing Replace Windows Vinyl Replace ,919 Concrete & Marblecrete Bldg Surfaces Repl.. Long Life Item Elevated Walkways Replace Long Life Item Fiber Cement Siding Replace Long Life Item Faux Stone Replace Long Life Item Total Asset Summary $69,788 $170,021 Percent Fully Funded 41% Current Average Liability per Unit (Total Units: 19) $5,275 '*' Indicates Par ally Funded Page 25

26 Component % Current Cost by Category Chart Component % Current Cost by C at ~ gory _ Building Exteri or, _ Pool _ Paint l Stai nj S ~al _ Roofing Building Interi or, _ Fen cing c:::j Railing' _ A'phalt _ Land,caping _ Other Page 26

27 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2017 Asphalt Reseal/Stripe & Repair 1,267 Concrete & Marblecrete Paint 4,799 Concrete Surfaces 5% Repair 1,360 Elevated Walkways Seal 5,280 Faux Stone Clean/Seal/Repair 871 Pool Resurface 14,136 Pool Heater Replace 2,500 Pool Shed Repair Con ngency 1,500 Wood Fencing Paint/Stain 2,285 Wood Siding & Trim Minor 5% Replace 2,603 Wood Siding & Trim Paint/Stain 8,006 Total for 2017 $44,607 Replacement Year 2018 Pool Deck Coat/Seal 4,844 Total for 2018 $4,844 Replacement Year 2019 Cement Fiber Siding & Trim Paint 15,623 Interior Surfaces Paint 10,243 Total for 2019 $25,866 No Replacement in 2020 No Replacement in 2021 Replacement Year 2022 Asphalt Reseal/Stripe & Repair 1,469 Concrete Surfaces 5% Repair 1,577 Elevated Walkways Seal 6,121 Exterior / Entry Doors Paint 2,365 Interior Carpet Replace 4,634 Interior Storage Doors Replace 3,478 Pool Shed Repair Con ngency 1,739 Page 27

28 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2022 con nued... Wood Fencing Paint/Stain 2,649 Wood Siding & Trim Paint/Stain 9,282 Total for 2022 $33,313 Replacement Year 2023 Pool Cover Replace 4,179 Total for 2023 $4,179 Replacement Year 2024 Entry Access Replace 3,075 Interior Surfaces Paint 11,875 Pool Deck Coat/Seal 5,783 Total for 2024 $20,733 Replacement Year 2025 Pool Furniture Replace 4,560 Total for 2025 $4,560 Replacement Year 2026 Cement Fiber Siding & Trim Paint 19,215 Interior Lights Replace 4,697 Interior Vinyl Flooring Replace 3,303 Landscaping Renova ons 9,755 Metal Railings Paint 2,912 Pool Re le/coping 7,672 Pool Filter Replace 1,566 Wood Fencing Replace 4,560 Total for 2026 $53,681 Replacement Year 2027 Asphalt Reseal/Stripe & Repair 1,703 Concrete & Marblecrete Paint 6,449 Concrete Surfaces 5% Repair 1,828 Page 28

29 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2027 con nued... Elevated Walkways Seal 7,096 Faux Stone Clean/Seal/Repair 1,171 Pool Resurface 18,998 Pool Heater Replace 3,360 Pool Shed Repair Con ngency 2,016 Wood Fencing Paint/Stain 3,070 Wood Siding & Trim Minor 5% Replace 3,498 Wood Siding & Trim Paint/Stain 10,760 Total for 2027 $59,949 No Replacement in 2028 Replacement Year 2029 Interior Surfaces Paint 13,766 Total for 2029 $13,766 Replacement Year 2030 Pool Deck Coat/Seal 6,906 Total for 2030 $6,906 Replacement Year 2031 Ligh ng Exterior Fixtures Replace 5,793 Roof Comp. Shingle Replace 53,786 Sign Live Fremont Replace 3,781 Wood Siding & Trim Major 25% Replace 9,843 Total for 2031 $73,204 Replacement Year 2032 Asphalt Reseal/Stripe & Repair 1,974 Concrete Surfaces 5% Repair 2,119 Elevated Walkways Seal 8,226 Exterior / Entry Doors Paint 3,178 Interior Carpet Replace 6,228 Page 29

30 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2032 con nued... Pool Shed Repair Con ngency 2,337 Wood Fencing Paint/Stain 3,559 Wood Siding & Trim Paint/Stain 12,474 Total for 2032 $40,096 Replacement Year 2033 Cement Fiber Siding & Trim Paint 23,632 Total for 2033 $23,632 Replacement Year 2034 Interior Surfaces Paint 15,959 Total for 2034 $15,959 Replacement Year 2035 Pool Cover Replace 5,959 Pool Furniture Replace 6,129 Total for 2035 $12,087 Replacement Year 2036 Asphalt Overlay 14,921 Chain Link Pool Replace 6,630 Chain Link Fencing Replace 2,718 Mailboxes Replace 2,981 Pool Deck Coat/Seal 8,246 Pool Deck Resurface 32,440 Total for 2036 $67,937 Replacement Year 2037 Asphalt Reseal/Stripe & Repair 2,289 Concrete & Marblecrete Paint 8,667 Concrete Surfaces 5% Repair 2,457 Elevated Walkways Seal 9,536 Faux Stone Clean/Seal/Repair 1,573 Page 30

31 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2037 con nued... Pool Resurface 25,531 Pool Heater Replace 4,515 Pool Shed Repair Con ngency 2,709 Wood Fencing Paint/Stain 4,126 Wood Siding & Trim Minor 5% Replace 4,701 Wood Siding & Trim Paint/Stain 14,460 Total for 2037 $80,566 No Replacement in 2038 Replacement Year 2039 Entry Access Replace 4,790 Interior Surfaces Paint 18,500 Total for 2039 $23,291 Replacement Year 2040 Cement Fiber Siding & Trim Paint 29,064 Total for 2040 $29,064 Replacement Year 2041 Gu ers/dwnspts Replace 13,746 Landscaping Renova ons 15,199 Metal Fencing Replace 5,671 Metal Railings Paint 4,537 Metal Railings Replace 22,312 Total for 2041 $61,465 Replacement Year 2042 Asphalt Reseal/Stripe & Repair 2,654 Concrete Surfaces 5% Repair 2,848 Elevated Walkways Seal 11,055 Exterior / Entry Doors Paint 4,271 Interior Carpet Replace 8,369 Page 31

32 Annual Expenditure Detail Descrip on Expenditures Replacement Year 2042 con nued... Pool Deck Coat/Seal 9,846 Pool Shed Repair Con ngency 3,141 Wood Fencing Paint/Stain 4,784 Wood Siding & Trim Paint/Stain 16,764 Total for 2042 $63,731 No Replacement in 2043 Replacement Year 2044 Interior Surfaces Paint 21,447 Total for 2044 $21,447 Replacement Year 2045 Pool Furniture Replace 8,237 Total for 2045 $8,237 Replacement Year 2046 Exterior / Entry Doors Replace 77,767 Interior Doors Replace 14,139 Interior Lights Replace 8,484 Interior Railing Replace 3,759 Interior Vinyl Flooring Replace 5,966 Pool Re le/coping 13,857 Pool Filter Replace 2,828 Windows Vinyl Replace 230,675 Wood Fencing Replace 8,236 Total for 2046 $365,711 Page 32

33 Roof Comp. Shingle Replace 2031 Category Roofing 75 $ Asset Cost $35, Percent Replacement 100% Future Cost $53, Useful Life 25 Replacement Year 2031 Remaining Life 14 Fair condition observed during our limited scope visual inspection with no areas of repair evident or reported history of problems. Reportedly last replaced in As routine maintenance, we recommend professional inspections at least twice annually and after windstorms. Promptly replace any damaged/missing shingles or any other repair needed to ensure waterproof integrity of roof. Keep gutters and downspouts clear and free of debris. Plan for replacement at roughly the time frame indicated. *1 square = 100 Square Feet Page 33

34 Ligh ng Exterior Fixtures Replace 2031 Category Ligh ng Asset Cost $3, Percent Replacement 100% Future Cost $5, Useful Life 25 Replacement Year 2031 Remaining Life 14 Fair condition of assorted exterior lights. Observed during daylight hours and assumed to be in functional operating condition. As routine maintenance, inspect, repair/change bulbs as needed. Best to plan for large scale replacement, timed to coincide with exterior paint cycles, for cost efficiency and consistent quality/appearance throughout association each assorted exterior $ = $2, each assorted security = 1, each landscape = Total = $3, Page 34

35 Pool Resurface 2017 Category Pool 992 $14.25 Asset Cost $14, Percent Replacement 100% Future Cost $14, Useful Life 10 Replacement Year 2017 Remaining Life 0 Generally fair condition of surface noted during our limited scope inspection (covered). We recommend professional cleaning and maintenance to maximize life; maintain proper chemical balance. Plan for regular intervals of pool resurfacing to maintain function and a quality surface, appearance. Page 35

36 Pool Re le/coping 2026 Category Pool 98 $60.00 Asset Cost $5, Percent Replacement 100% Future Cost $7, Useful Life 20 Replacement Year 2026 Remaining Life 9 Fill level tiles and brick coping were noted to be intact and in generally fair condition from the very limited visual inspection (pool covered). No loose or missing tiles were noted. Clean and repair as needed in between cycles of replacement as part of routine maintenance. Best to plan for regular intervals of replacement, timed to coincide with future pool resurface project, for cost efficiency. Page 36

37 Pool Cover Replace 2023 Category Pool 1 $3, Asset Cost $3, Percent Replacement 100% Future Cost $4, Useful Life 12 Adjustment 5 Replacement Year 2023 Remaining Life 6 Fair condition of pool reinforced winter cover with no apparent damage or unusual deterioration at this time. Inspect regularly and repair promptly if needed from operating budget. Plan for regular intervals of replacement at roughly the time frame indicated. Page 37

38 Pool Deck Coat/Seal 2018 Category Pool 990 $4.75 Asset Cost $4, Percent Replacement 100% Future Cost $4, Useful Life 6 Replacement Year 2018 Remaining Life 1 Elastomeric coating has been installed for aesthetic appeal, protection of the pool deck and for its non slip properties. Plan for regular intervals of recoating at the intervals indicated to retain the advantages of this coating. Page 38

39 Pool Deck Resurface 2036 Category Pool 1,000 $18.50 Asset Cost $18, Percent Replacement 100% Future Cost $32, Useful Life 30 Replacement Year 2036 Remaining Life 19 Generally fair condition. Inspect regularly, pressure wash for appearance, fill/seal any cracks which may develop to minimize further damage to pool deck and repair as needed from operating budget. There are a variety of ways to replace/resurface pool decks, we recommend that as the community continues to age, that research be conducted to evaluate the associations preferred method. Eventual removal and replacement with similar material factored below. Page 39

40 Pool Filter Replace 2026 Category Pool 1 $1, Asset Cost $1, Percent Replacement 100% Future Cost $1, Useful Life 20 Replacement Year 2026 Remaining Life 9 Assumed to be functioning and in operating order. No leaks observed or reported problems. Inspect regularly, backwash, replace media and repair as needed from operating budget. Plan for regular intervals of replacement at roughly the time frame indicated below Page 40

41 Pool Heater Replace 2017 Category Pool 1 $2, Asset Cost $2, Percent Replacement 100% Future Cost $2, Useful Life 10 Replacement Year 2017 Remaining Life 0 Unit reported to be in operational condition. We recommend continued professional inspections, maintenance, and repair to help maximize useful life cycle. Best to plan for replacement at the time frame indicated. Placed in service date obtained from panel on heater. Page 41

42 Pool Shed Repair Con ngency 2017 Category Pool 1 $1, Asset Cost $1, Percent Replacement 100% Future Cost $1, Useful Life 5 Replacement Year 2017 Remaining Life 0 Pool shed in fair overall condition with some areas of advanced deterioration noted. This repair contingency is for the repair of this shed on a continuing basis in a 3 year cycle so that items that have deteriorated can be fixed/refurbished without total replacement of the structure which houses electrical, plumbing and equipment for the pool. Page 42

43 Entry Access Replace 2024 Category Building Components 1 $2, Asset Cost $2, Percent Replacement 100% Future Cost $3, Useful Life 15 Adjustment 3 Replacement Year 2024 Remaining Life 7 Fair appearance with no significant damage observed and no reported problems at this time. We recommend professional inspections and maintenance. Wipe down surfaces periodically with an appropriate cleaner, being careful to avoid control buttons. Plan for replacement at the typical life expectancy interval indicated, due to constant usage and exposure to weather elements. Page 43

44 Sign Live Fremont Replace 2031 Category Building Components 1 $2, Asset Cost $2, Percent Replacement 100% Future Cost $3, Useful Life 25 Replacement Year 2031 Remaining Life 14 Fair condition of wood signs with no unexpected deterioration. As routine maintenance, inspect regularly, clean/touch up for appearance and repair from operating budget. Reserve funding recommended for regular intervals of replacement to maintain a consistent, quality appearance. Page 44

45 Gu ers/dwnspts Replace 2041 Category Gu ers/downspouts 544 $12.43 Asset Cost $6, Percent Replacement 100% Future Cost $13, Useful Life 35 Replacement Year 2041 Remaining Life 24 As routine maintenance, inspect regularly, keep gutters and downspouts free of debris. Repair locally as needed from general operating funds. Plan for replacement at ther time interval indicated. Page 45

46 Metal Railings Replace 2041 Category Railings 186 $59.01 Asset Cost $10, Percent Replacement 100% Future Cost $22, Useful Life 35 Replacement Year 2041 Remaining Life 24 Fair to good condition of these painted metal handrails with no significant, widespread instability observed. Monitor rails for safety and repair as needed from operating budget. This component is a long life item that can last for extended period with ordinary care and maintenance. In our experience however, eventual replacement is warranted due to constant wear, usage and exposure over time. *Note that the short metal railing at front walkway has not been included in the above measurements but appears to have exhausted its useful life and is not completely stable. This rail is approximately 4 linear feet in length and the cost to replace is minimal. We suggest replacing utilizing operating expenses. Page 46

47 Landscaping Renova ons 2026 Category Landscaping Asset Cost $7, Percent Replacement 100% Future Cost $9, Useful Life 15 Adjustment 5 Replacement Year 2026 Remaining Life 9 Although typically funded as ongoing maintenance item, this component may be utilized for setting aside funds for larger expenses that do not occur on an annual basis, such as: large scale plantings, flagstone patio refurbish, common area drainage projects, larger tree trimming projects, areas of extensive bark mulch, landscape improvement projects, etc. 1,484 - sf $2.25 = $3, sf right 2.25 = 1, sf left 2.25 = sf 2.25 = 2, Total = $7, Page 47

48 Pool Furniture Replace 2025 Category Recrea on Asset Cost $3, Percent Replacement 100% Future Cost $4, Useful Life 10 Adjustment 5 Replacement Year 2025 Remaining Life 8 Fair condition of assorted furniture. Inspect regularly, clean by wiping down with an appropriate cleaner and replace promptly as needed to ensure safety. Plan for regular intervals of replacement to maintain a quality appearance to these important community areas. 8 - each lounge $ = $1, each = each = 1, Total = $3, Page 48

49 Chain Link Pool Replace 2036 Category Fencing Asset Cost $3, Percent Replacement 100% Future Cost $6, Useful Life 30 Replacement Year 2036 Remaining Life 19 Fair condition with no significant corrosion, damage or instability noted at this time. Sturdy component that can last for extended period of time if not damaged or abused. Clean, repair as needed from operating funds. Plan for eventual replacement at time frame indicated due to constant exposure to the elements lf chain link fence $31.25 = $2, each = 1, Total = $3, Page 49

50 Chain Link Fencing Replace 2036 Category Fencing 53 $29.25 Asset Cost $1, Percent Replacement 100% Future Cost $2, Useful Life 30 Replacement Year 2036 Remaining Life 19 Fair condition with no significant corrosion, damage or instability noted at this time. Sturdy component that can last for extended period of time if not damaged or abused. Clean, repair as needed from operating funds. Plan for eventual replacement at time frame indicated due to constant exposure to the elements. Page 50

51 Metal Fencing Replace 2041 Category Fencing Asset Cost $2, Percent Replacement 100% Future Cost $5, Useful Life 35 Replacement Year 2041 Remaining Life 24 Fair condition with no significant corrosion, damage or instability noted at this time. Sturdy component that can last for extended period of time if not damaged or abused. Clean, repair and paint as needed from operating funds. Plan for eventual replacement at time frame indicated due to constant exposure to the elements lf metal $65.00 = $1, each entry = 1, Total = $2, Page 51

52 Wood Fencing Replace 2026 Category Fencing 131 $26.68 Asset Cost $3, Percent Replacement 100% Future Cost $4, Useful Life 20 Replacement Year 2026 Remaining Life 9 Fair condition of wood fencing with no unusual damage or instability observed at this time. As routine maintenance, inspect regularly for any damage, repair as needed. Avoid contact with ground and surrounding vegetation. Regular cycles of stain/paint will help to maintain appearance and maximize life. Plan to replace at roughly the time frame indicated. Page 52

53 Cement Fiber Siding & Trim Paint 2019 Category Paint/Stain/Seal Asset Cost $14, Percent Replacement 100% Future Cost $15, Useful Life 7 Replacement Year 2019 Remaining Life 2 Fair condition of painted surfaces Exterior surfaces consist primarily of fiber cement board with wood trim pieces. As routine maintenance, inspect regularly and touch up/repair locally as needed using operating funds. Typical Northwest paint cycles are between five to seven years for wood and 8 10 years for fiber cement depending upon surface preparation, material quality, application methods, site and weather conditions. Removal and replacement of sealants where applicable with high quality product is important part of surface preparation. Repair areas as needed prior to painting. The below measurements and useful life of 7 years has been chosen as the horizontal wood siding trim pieces over the fiber cement siding will likely need repainting before the fiber cement but to retain the aesthetic appeal of the building and for cost savings a slightly longer useful life has been utilized for the wood trim paint and a slightly shorter life has been used for the cement fiber siding paint sf fiber cement siding 3.20 = 2, ,207 - sf fiber cement siding 3.20 = 7, sf fiber cement siding 3.20 = 1, Page 53

54 Cement Fiber Siding & Trim - Paint con nued sf fiber cement siding 3.20 = 2, sf fiber cement sidning 3.20 = 1, Total = $14, Page 54

55 Concrete & Marblecrete Paint 2017 Category Paint/Stain/Seal Asset Cost $4, Percent Replacement 100% Future Cost $4, Useful Life 10 Replacement Year 2017 Remaining Life 0 Fair condition of painted surfaces As routine maintenance, inspect regularly and touch up/repair locally as needed using operating funds. Typical Northwest paint cycles are 8 10 years for covered (protected) concrete/marble crete surfaces depending upon surface preparation, material quality, application methods, site and weather conditions. Paint cycle of this component to coincide with paint cycles of other areas of the building for cost savings. 1,320 - sf marble-crete elevated walkway ceiling@ 1.80 = 2, ,136 - sf carport 1.80 = 2, sf concrete walls 1.80 = Total = $4, Page 55

56 Elevated Walkways Seal 2017 Category Paint/Stain/Seal 660 $8.00 Asset Cost $5, Percent Replacement 100% Future Cost $5, Useful Life 5 Replacement Year 2017 Remaining Life 0 Fair condition of elevated walkway and landing surfaces with no unexpected deterioration or widespread damage observed. This surface type needs to be top coated periodically for waterproof integrity, protection of surrounding wood structure and appearance. As routine maintenance, we strongly suggest annual professional inspections, with cleaning and repair as needed. Clean with mild solution such as TSP; bleach can be added if mold/mildew become a problem. Plan for regular intervals of professional maintenance top coating at the interval indicated to coincide with regular paint cycles Page 56

57 Exterior / Entry Doors Paint 2022 Category Paint/Stain/Seal 24 $85.00 Asset Cost $2, Percent Replacement 100% Future Cost $2, Useful Life 10 Replacement Year 2022 Remaining Life 5 Fair condition of painted surfaces on exterior doors general wear and aging, local areas of peeling/flaking at this time (front entry door). As routine maintenance, inspect regularly and touch up/repair locally as needed using operating funds. Plan for paint cycles of every 10 years for metal, wood and fiberglass exterior doors to coincide with paint/stain cycles of the rest of the building. Page 57

58 Faux Stone Clean/Seal/Repair 2017 Category Paint/Stain/Seal 268 $3.25 Asset Cost $ Percent Replacement 100% Future Cost $ Useful Life 10 Replacement Year 2017 Remaining Life 0 Generally fair condition of faux/manufactured stone with no signs of deterioration, crumbling or instability evident during our limited scope inspection. We recommend regular professional inspections to ensure structural integrity and water proofing of building is maintained. We suggest proactive maintenance of professional inspections, light cleaning and application of a protective sealer included in paint cycles to maximize useful life and appearance. Page 58

59 Faux Stone Replace Category Paint/Stain/Seal 268 $23.37 Asset Cost $6, Percent Replacement 100% Future Cost $26, Useful Life 60 Replacement Year 2066 Remaining Life 49 Generally fair condition of faux/manufactured stone with no signs of deterioration, crumbling or instability evident during our limited scope inspection. We recommend regular professional inspections to ensure structural integrity and water proofing of building is maintained. We suggest proactive maintenance of professional inspections, light cleaning and application of a protective sealer included in paint cycles to maximize useful life and appearance. **No basis for reserve funding of large scale replacement at this time, incorporate into future reserve study updates if needed. Page 59

60 Interior Surfaces Paint 2019 Category Paint/Stain/Seal 4,429 $2.18 Asset Cost $9, Percent Replacement 100% Future Cost $10, Useful Life 5 Adjustment 2 Replacement Year 2019 Remaining Life 2 Generally fair+ condition observed at this time. Measurements include walls, ceilings, trim, storage rooms, doors and railings. Regular cycles of professional painting are recommended to maintain appearance; best timed prior to flooring replacement if possible. Keep touchup paint on site for in between cycle projects. Page 60

61 Metal Railings Paint 2026 Category Paint/Stain/Seal 186 $12.00 Asset Cost $2, Percent Replacement 100% Future Cost $2, Useful Life 15 Adjustment 5 Replacement Year 2026 Remaining Life 9 Railings are in fair to good condition and new as of the 2002 renovation project. These railings are durable and can experience extended life with ordinary care and maintenance. In our experience, eventual repaint will be needed at roughly the time frame indicated as the paint color will start to crack and fade over time and be nicked by residents, maintenance personnel, etc. Paint cycle to coincide with other paint cycles of the building for cost savings. Page 61

62 Wood Fencing Paint/Stain 2017 Category Paint/Stain/Seal 1,048 $2.18 Asset Cost $2, Percent Replacement 100% Future Cost $2, Useful Life 5 Replacement Year 2017 Remaining Life 0 Regular sealer applications (stain/paint, etc.) on the timeline indicated are strongly recommended for appearance and protection of cedar fencing. Remove any contact with ground and surrounding landscape and sprinkler patterns, repair as needed and clean prior to sealer application. Life of finish will vary depending upon surface preparation, material quality, application method and weather conditions. Page 62

63 Wood Siding & Trim Paint/Stain 2017 Category Paint/Stain/Seal Asset Cost $8, Percent Replacement 100% Future Cost $8, Useful Life 5 Replacement Year 2017 Remaining Life 0 Fair condition of painted/stained wood surfaces. As routine maintenance, inspect regularly and touch up/repair locally as needed using operating funds. Typical Northwest paint cycles are between five to seven years depending upon surface preparation, material quality, application methods, site and weather conditions. Removal and replacement of sealants where applicable with high quality product is important part of surface preparation. Repair areas as needed prior to painting sf wood $2.80 = $2, sf wood shingle siding 3.20 = 2, sf wood shingle siding 3.20 = sf wood shingle siding 3.20 = 2, Total = $8, Page 63

64 Concrete & Marblecrete Bldg Surfaces Replace Category No Useful Life Building Exteriors Asset Cost Percent Replacement 100% Future Cost Fair condition of these concrete and marble crete surfaces These are long life items that have no anticipated large scale replacement expenses associated with them. There are no anticipated expenses related to the replacement of these common area components. Page 64

65 Exterior / Entry Doors Replace 2046 Category Building Exteriors 24 $1, Asset Cost $33, Percent Replacement 100% Future Cost $77, Useful Life 40 Replacement Year 2046 Remaining Life 29 Fair condition of assorted entry and utility doors with no significant damage or instability apparent. Inspect regularly, repair hardware as needed from maintenance budget. Clean and paint along with other exterior building surfaces during regular paint cycles. Page 65

66 Fiber Cement Siding Replace Category Building Exteriors Asset Cost $35, Percent Replacement 100% Future Cost $113, Useful Life 50 Replacement Year 2056 Remaining Life 39 Fiber cement siding is a long life item (useful life of 50 years) with no projected large scale replacement associated with it within the 30 years of this study. Expect to include this component in a future update to the reserve study when the end of the 50 year useful life of this component is within the 30 year "snapshot" of the reserve study sf fiber cement siding $7.77 = $6, ,207 - sf fiber cement siding 7.77 = 17, sf fiber cement siding 7.77 = 2, sf fiber cement siding 7.77 = 6, sf fiber cement sidning 7.77 = 3, Total = $35, Page 66

67 Windows Vinyl Replace 2046 Category Building Exteriors 1,667 $58.72 Asset Cost $97, Percent Replacement 100% Future Cost $230, Useful Life 40 Replacement Year 2046 Remaining Life 29 Fair condition of noted during our limited scope visual inspection. No reported problems such as water intrusion. As routine maintenance, we recommend regular professional inspections and prompt repair as needed to ensure building waterproofing and help prevent structural damage. If properly installed without defect, plan to replace windows at roughly the time frame indicated. Page 67

68 Wood Siding & Trim Major 25% Replace 2031 Category Building Exteriors Useful Life 25 Replacement Year 2031 Remaining Life 14 Asset Cost $6, Percent Replacement 25% Future Cost $9, This component is included for major repairs to the wood siding/trim. Although currently in fair+ condition; wood will eventually deteriorate and major repair/replacement projects should be anticipated. This contingency has been included for 25% of the wood surfaces. Scope of future repair needs are often determined by long term maintenance and painting practices. Adjust contingency as needed to ensure future repair needs will be met. The service life has been set at 25 years to cycle with future paint/stain projects sf-wood $10.00 = $8, sf wood siding = 6, sf wood siding = 2, sf wood siding = 9, Total = $26, Page 68

69 Wood Siding & Trim Minor 5% Replace 2017 Category Building Exteriors Useful Life 10 Replacement Year 2017 Remaining Life 0 Asset Cost $2, Percent Replacement 10% Future Cost $2, This component is included for minor repairs to the wood siding/trim. Although currently in fair+ condition; wood will eventually deteriorate and minor repair/replacement projects should be anticipated. This contingency has been included for 5% of the wood surfaces. Scope of future repair needs are often determined by long term maintenance and painting practices. Adjust contingency as needed to ensure future repair needs will be met. The service life has been set at 10 years to cycle with future paint/stain projects sf-wood $10.00 = $8, sf wood siding = 6, sf wood siding = 2, sf wood siding = 9, Total = $26, Page 69

70 Concrete Surfaces 5% Repair 2017 Category Concrete Surfaces 2,267 $12.00 Asset Cost $1, Percent Replacement 5% Future Cost $1, Useful Life 5 Replacement Year 2017 Remaining Life 0 5% Repair contingency for the concrete surfaces including elevated walkway surfaces, patios, concrete slab at garbage area, stairs and walkways. Generally fair condition with no significant cracking or damage observed at this time. Some amount of recent local repair evident; not widespread. As routine maintenance, inspect regularly, pressure wash for appearance. Repair any trip and fall hazards immediately (if any). Page 70

71 Elevated Walkways Replace Category Concrete Surfaces 660 Asset Cost Percent Replacement 100% Future Cost No Useful Life Elevated walkways observed to be in fair condition with no widespread instability or damage observed. Assumed to have been correctly installed with proper flashings and adequate slope and drainage provision. With proactive care and maintenance, there is no expectation for large scale replacement at this. If not maintained properly, (sealing for adequate drainage away from the structure) there is a potential for significant repair/replacement expenses exist in future years. Page 71

72 Asphalt Overlay 2036 Category Asphalt Asset Cost $8, Percent Replacement 100% Future Cost $14, Useful Life 30 Replacement Year 2036 Remaining Life 19 Generally fair condition with local deterioration evident. Drive lanes were resurfaced last in 2002 with local repair and seal coating reportedly occurring last in As routine maintenance, keep surface clean, ensure that drains are clean and free flowing, repair cracks and clean oils stains promptly. Best to plan for eventual intervals of resurface (overlay). Most asphalt areas can be expected to last approximately 30 years before it will become necessary for an overlay to be applied or other major rehabilitation to be completed. It will be necessary to adjust manhole and valve covers at the time the overlay is applied or other major rehabilitation is completed. If properly built, the road or parking lot deteriorates from the top down, which only requires the replacement of a thin layer of asphalt, or preferably the application of a thin layer on top of the existing asphalt. The asphalt overlay not only provides a new paving surface for a fraction of the cost of rebuilding the entire roadway, but it is the only preventive maintenance technique that adds structural value while extending a pavement's service life. Page 72

73 Asphalt - Overlay con nued... 1,148 - sf asphalt front $2.35 = $2, sf asphalt along front 2.35 = ,397 - sf asphalt rear parking 2.35 = 5, Total = $8, Page 73

74 Asphalt Reseal/Stripe & Repair 2017 Category Asphalt Asset Cost $1, Percent Replacement 100% Future Cost $1, Useful Life 5 Replacement Year 2017 Remaining Life 0 Fair condition noted. The primary reason to sealcoat is to protect the pavement from the deteriorating effects of sun and water, which causes the asphalt to harden, or oxidize. The pavement turns brittle. The sealcoat provides a waterproof membrane which slows the oxidation process and helps the pavement shed water, preventing the water to infiltrate the base material. Without regular applications of a seal coat, an asphalt parking lot might need an overlay in 15 years. If the lot is regularly sealed, a parking lot can last as much as years, perhaps longer. Seal coats should be installed on warm sunny day with low humidity with a minimum of 50 degrees Fahrenheit and rising. The seal coat should not be applied during wet conditions or within 8 hours of anticipated rain. Streets must be thoroughly cleaned; organic material removed, loose asphalt removed and voids and cracks repaired. Oil or grease also damage asphalt and such areas should be cleaned thoroughly and treated with an oil spot primer prior to sealer application. A minimum of 8 Page 74

75 Asphalt - Reseal/Stripe & Repair con nued... hours of sunlight is required for complete curing and before traffic is allowed. Proper drainage is vital for the longevity of the road. Standing water can seep through the asphalt and get into the subbase and subgrade below, significantly weakening the structural integrity of the road and causing premature failure. Oil spills eat through the asphalt seal and should be cleaned up between seal coats. Power washing is recommended annually and treated as an operating expense. 1,148 - sf asphalt front 0.35 = sf asphalt along front 0.35 = ,397 - sf asphalt rear parking 0.35 = Total = $1, Page 75

76 Interior Carpet Replace 2022 Category Building Interiors 59 $67.75 Asset Cost $3, Percent Replacement 100% Future Cost $4, Useful Life 10 Replacement Year 2022 Remaining Life 5 Fair general condition. As part of ongoing maintenance program vacuum and professionally clean as needed. Plan to replace at the time frame indicated, best timed after repainting. Wide variety of type and quality available; a mid range funding allowance is factored for planning purposes. Page 76

77 Interior Doors Replace 2046 Category Building Interiors 8 $ Asset Cost $6, Percent Replacement 100% Future Cost $14, Useful Life 40 Replacement Year 2046 Remaining Life 29 Fair condition of assorted interior, entry and utility doors with no significant damage or instability apparent. Inspect regularly, repair hardware as needed from maintenance budget. Clean and paint along with other exterior building surfaces. No expectation for large scale replacement at this time. No reserve funding recommended Page 77

78 Interior Lights Replace 2026 Category Building Interiors Asset Cost $3, Percent Replacement 100% Future Cost $4, Useful Life 20 Replacement Year 2026 Remaining Life 9 Functional condition with no significant damage or instability observed. Reportedly replaced. As routine maintenance inspect lamps, repair/change bulbs as needed. We recommend to plan for large scale replacement to maintain functionality, periodic aesthetic updating and a consistent quality/appearance throughout building. 5 - each low quality $75.00 = $ each medium = 1, each chandelier = each security = each exit sign = 1, Total = $3, Page 78

79 Interior Railing Replace 2046 Category Building Interiors 29 $55.00 Asset Cost $1, Percent Replacement 100% Future Cost $3, Useful Life 40 Replacement Year 2046 Remaining Life 29 These were observed to be in fair to good condition overall with no areas of peeled paint, chipped wood members, or loose fixtures. Inspect these regularly to make sure structural elements that connect the railing to the wall are secure. Perform any painting along with interior surfaces for cost efficiency. Page 79

80 Interior Storage Doors Replace 2022 Category Building Interiors 15 $ Asset Cost $3, Percent Replacement 100% Future Cost $3, Useful Life 60 Replacement Year 2022 Remaining Life 5 Fair condition of lower quality wood storage room unit doors with no significant damage or instability apparent. Inspect regularly, repair hardware as needed from maintenance budget. Clean and paint along with other exterior building surfaces. No expectation for large scale replacement at this time. No reserve funding recommended Page 80

81 Interior Vinyl Flooring Replace 2026 Category Building Interiors 749 $3.38 Asset Cost $2, Percent Replacement 100% Future Cost $3, Useful Life 20 Replacement Year 2026 Remaining Life 9 Fair general condition. Plan to replace at the time frame indicated, best timed after repainting. Wide variety of type and quality available; a mid range funding allowance is factored for planning purposes Page 81

82 Mailboxes Replace 2036 Category Building Interiors 20 $85.00 Asset Cost $1, Percent Replacement 100% Future Cost $2, Useful Life 30 Replacement Year 2036 Remaining Life 19 Fair condition with no significant damage apparent at this time of the 20 metal mailboxes. Inspect regularly, clean by wiping down for appearance, change lock cylinders, lubricate hinges and repair as needed from operating budget. Protected location, however, best to plan for eventual replacement due to constant usage and wear over time. Page 82

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