Cory Lakes CDD

In summary, we have the following monies available in our operating budget for Capital:

+$51,800 as a line item for Capital
+$30,000 reduction in Field Office Manager line item
+$50,000 reduction in Events Coordinator and Materials line items
+$11,500 FY2015 excess
------------
+$143,300 Subtotal
- $ 25,000 Storage Building
- $ 10,000 Estimated losses in poorly attended events in FY2016
- $ 1,000 Estimated brush agitator for beach
------------
+$107,300 Total

If we renovate the gym as has been mentioned favorably in previous board meetings and use the estimates provided thus far we will spend approximately $95,000 for the renovation and additional fitness equipment.

Other items that we've discussed implementing are putting a fountain in either the pond at the entrance of Cross Creek or in Cory Lake at the T-intersection of the loop from the Cross Creek Entrance. Those are estimated at $8,000 each. I don't think either is worth it because the Cross Creek pond is covered visually by palm trees and Cory Lake will have large homes erected in front of it. But, I won't push against it if the majority of the board wants one.

Another item that is higher on the list from the survey, which is not a maintenance issue that is covered under the operational budget, is a new volleyball court. That is estimated at $17,500 which is more than the $12,300 available and will therefore require digging into the reserves for about $5,000.

Note, that we may face a large expense for our street pavers this year and the reserves may become very important for that.

So, thus far I am in favor of renovating the gym and keeping the additional $12,300 on hand for other capital improvements that may come up this year.

Other board members, what do you think we should do with the $107,300 available for capital expenses from our operating budget?

I’m in favor of renovating our very dated Gym and do this renovation right. In other words I believe we should only keep a couple pieces of equipment that are somewhat new, and lease out the rest. This community deserves a bigger gym with more equipment options and safer to workout, if we approve this renovation we will have 2 new Tennis Courts, New Playground, Fairly new resort style pool and the lake which really makes this a more appealing community. I’m also in agreement we should hold off on the Fountain for now, although it’ll look great, the community has been asking for more amenities similar to our competing neighborhoods. BTW most of the new treadmills and elliptical machines come with TV’s built in. We need proposals from reputable companies with experience in Gym renovations, in fact we may ask Arbor Greene who they used as they recently renovated theirs.

George, It sounds like you would be in favor of renovating the gym and taking the $10,000 slated for new equipment and instead putting that into buying our own holiday lights. I'm not sure what leasing the gym equipment would cost in comparison to owning and maintaining it, but if the prices are comparable I would support your suggestion.

Do the other board members agree?

I'm in favor of redoing the gym but ONLY if that includes obtaining new equipment. I totally get wanting to have a larger space and prettier room but I'm only concerned with the use of the equipment which is what the gym is actually for. The equipment in there now is horrible!

Ok. Based on these comments, I've sent an email to Chuck asking for proposals for all new equipment to lease vs purchase as well as presentations by competitive vendors for the build out. Sound like an ok plan?

Sounds good to me.

Yes Cyril im in agreement with renovating Gym and the $10,000 for holiday lights.

Here is the response that I got from Chuck regarding getting proposals for new equipment and a build out plan for the gym:

I would like to know with some specificity what equipment the BOS is wanting to buy or lease. As i recall from the brief discussion of a couple of meetings ago there were varying opinions on what we should be focused on in terms of number of bikes vs treadmills vs elipticals and then the discussion mutated into changing the space.....i dont want to spin wheels of staff or vendors preparing bids and being faced with potentially frustrating the Board...i believe it is a very important discussion to have....

I suggest that we have that discussion now in this workshop so that staff can move forward. I'll start by saying that if we can get a price quote to purchase or lease all the equipment capability that we currently have plus 1 more treadmill and 1 more elliptical that will give us a realistic picture of what we will have to pay for either purchasing or leasing. In addition, the build out will entail utilizing the space of the storage closet and men's bathroom and converting the women's bathroom into 2 separate bathrooms, 1 for men and 1 for women.

Would the other board member's agree with this approach?

I'm 100% on board with updating the equipment in the gym. I'd personally like to see proposals on replacing the treadmills. Neither of them work correctly and are very frustrating to try to run on! I used the gym a lot this summer and every time I was there the treadmills were always both in use. Also, the weights are not up to par. There is not a full set of the smaller end (average women sized weights) to even utilize 2 weights at the same time. Much less, if there is someone else using the one weight there can be a significant weight time. I would like to see 2 complete sets of weights. We are also in need of floor mats. The 2 that are in there are in very poor shape and are very thin, not offering much protection at all. I don't care one way or the other if there are TV's in the room or attached to the equipment. I don't go to workout to watch TV, so nonsignificant to me. As for the new build out. I'm not opposed to this renovation as long as it includes the new equipment. If we are just redoing the building to look pretty, then I think our money would be better spent other places. I believe that the purpose of a gym is to obtain a great workout, not to be entertained and the décor doesn't offer any additional inspiration.

So, my final response is, if we can redo the gym and purchase new equipment within the dollar amount, then I'm totally on board. If we can't do both within the dollar amount, then I vote to only replace the equipment.

Im in agreement with Joyce if we have a renovated space we need new equipment. as far as configurations we are open to that and leave it to the experts