posted 12/02/2018 11:56am
After much deliberation and input from the Owners, the HOA board has approved replacement of the roofs (including repairs of any damage in the attics, including vent pipes) for Nautica, and authorized the Amento Group to prepare the necessary documents for permitting and bidding so competitive bids can be received by the next annual meeting in March or April 2019.
This work will address the needed roof flashing repairs that are causes for much of the historical water intrusion and damage. This work is estimated to be $465,000, which includes allowances and contingencies for unknowns. This will allow the HOA to pay for this work from the current funds in the maintenance reserve account.
The board decided to defer the major expenses of replacing windows and siding, and let the maintenance reserve fund build up until a later year to be determined.
The proposed 2019 special assessment has been increased (from $125,000 to $150,000) to build the reserves although this amount is still less than what has been recommended by the Reserve Study.
The board is exploring allowing individual homeowners to install windows on their own, at their own costs. However, the board has not yet examined the implications and refined the details of this method of window replacement (e.g., type of windows, installation method, etc., temporary, permanent, etc.).