Dear Homeowners & Residents,
On Thursday, September 15 one or more individuals from The Falcon Group will be onsite in our community to conduct a Capital Reserve Study. Arrival is expected between 12:30 and 1:00 pm, and these individuals will be inspecting various common elements of our community which we, as a Homeowners Association, are collectively responsible to maintain.
You do not need to do anything – we are simply providing this notification for your awareness. We will share the results of the Capital Reserve Study once it has been completed.
What is a Capital Reserve Study?
The primary purpose of a Capital Reserve Study is to offer recommendations as to the amount of money a community, building or other organization should set aside on a yearly basis for the future replacement or major refurbishment of their commonly owned elements.
The analysis and recommendations are important to help avoid possible future special assessments of individual unit owners. The analysis should take into account the site specific existing conditions and how they affect the useful life cycles of components and the realistic replacement costs based upon actual material costs and the individual item’s site specific method of reconstruction.
If you have any questions, feel free to contact us at info@buttonwoodhoa.com.
Thank you,
Buttonwood Crossing HOA Board of Directors
