Creekside Special Assessment Survey July 2023
Creek Run Drive Road Repairs and Payment Options
The road between 14238 and 14246 is compromised and requires the installation of an underdrain system. We’ve been quoted approximately $415,000 to install the system properly, however, that quote is expected to increase with inflation by the time we can commit to the project potentially by 20%. We expect to begin the project in January, after the rainy season and after the holiday, because this project will be messy and inconvenient. This project will affect all those living on Creek Run Drive from 14230 through the cul-de-sac. It will take approximately three weeks to complete and will require the road to be inaccessible to vendors and homeowners during working hours established as 9am – 4pm. More details will follow. It will be accessible but will be rocky outside of those hours. Emergency access will still be available if required for ambulances, firefighters, etc.
This issue was unexpected, and the cost was not factored into the current HOA budget. The roadways were scheduled to be repaved in 2025 and 2026 (Creek Run Drive then Creek Edge, respectively), and we have reserves for that mill and overlay, however, we may be a little short on even that due to recent inflation.
Our options are to either collect a special assessment from each homeowner for this needed roadwork or to take out a loan for the roadwork and increase the operating budget/annual assessment by the maximum 15% for at least 6 years to pay back the loan and re-establish the reserves.
The underdrain will require new overlay, so Creek Run Drive will have the new overlay done as part of the construction expected in 2024, a year earlier than the reserve study expectation. As part of the overall community improvement, we can also schedule the mill and overlay of Creek Edge following construction and in the same year, two years earlier than the reserve study expectation, for the most harmonious and updated look if the community decides we want to do that.
We are planning a special assessment meeting to discuss the options and to ask for a community vote on how to proceed. Note: Road Assets typically have a 20-year life
Payment Options include getting a loan and increasing the annual assessment to pay off the loan OR collecting a special assessment with options for that as well.
We wanted to get some initial community input before that special meeting and voting.
See photos here but note that the potholes depicted were repaired in 2022, and we can expect additional potholes to erupt in the compromised road during heavy rains as flowing water under the road continues to dissolve the crushed limestone and push up the crackled asphalt. https://www.dropbox.com/scl/fo/zishl062a4kiyjbmiocuq/h?rlkey=o06iigo2mx3gnlrvcms1sarra&dl=0