CapEx Update

Reporting on the CapEx Committee’s progress, Eamonn McGeady indicated that the committee is busy “forming and organizing” at this point. He listed the committee members, whose names also appear on the FCF website. The committee is project prioritizing, developing protocols, and working on analytical tools. Their focus is on facilities and amenities, communications, finances, outreach, and governance.  This summer the committee is doing due diligence, with a major task being a comprehensive review of the Miller Dodson 2017 Report (a reserve study) and the Bayland Report, which deals specifically with environmental remediation.

Eamonn stated that the committee plans to use transparent communications to gather information from the community. The committee is currently holding weekly meetings, and then will be switching to bi-monthly frequency. One priority for the CapEx Committee is to include committee chairs in their process. The committee is focusing on a 5-10 year outlook, with prioritization of existing assets based on ratings, ranging from “critical” to “non-critical.” The committee plans to involve Tidewater to obtain estimates, vendor recommendations, and architectural review, and to manage common areas. The committee will be correlating the information with the 2017 reserve study.  CapEx also is working now on flooding issues on Thomas Point Court and Hidden River View.