Terrace Tribune - April 2019
It’s time for another edition of The Terrace Tribune. This month we get an update on the fire lane project, new architectural guidelines, HOA financials, capital repair projects, and more.
Fire Lane Update
As discussed back in the February 2019 edition of the Terrace Tribune, all the rain we had at the start of the year pushed the project start date back. That provided a little extra time to consider more options, one of them being Grasscrete – a combination of grass and concrete.
However, the Grasscrete estimate came in at about 3 times the cost ($20k+ more) of using asphalt. As such, the board is moving forward with the previously-approved asphalt approach (approved last year). The project should be starting soon.
How About a Swim?
The weather is changing and Summer is on its way. We’ve had some warm days and we’ve had some colder days so far this year (well, cold for California standards). Just a reminder that both pools are heated year-round so don’t let a little chill in the air stop you from having a dip in the nice, warm pool.
New Architectural Guidelines Now in Effect
The architectural guidelines that have been in development for months (as previously communicated) are now officially approved and in effect.
While some rules regarding architectural changes are clearly defined in the CCRs, others fall into a Gray area or are simply not defined in the original CCRs. As such, the new architectural guidelines were designed to establish a clear definition of what potential changes (not covered in the CCRs) homeowners can perform without approval, and which might require a review and approval process by the architectural committee.
What it also means is that many of us may be receiving letters of noncompliance for changes (i.e. deck modifications that encroach on common area) that were made prior to establishment of the new guidelines. If you’ve made modifications that were perhaps approved by a previous board or that you feel are justified, please feel free to submit an application for architectural approval.
Financial Cliff Notes
Here’s a “Cliff Notes” version of the Treasurer’s Report and financial aspects of various projects that are ongoing and discussed at the March 2019 Board of Directors Meeting. For full details, refer to the Board of Directors Minutes for March which will be posted soon.
Year to Date Revenue: $555,296.19
Year to Date Expenditures: $657,396.81
Maintenance and Landscape Items
The following were approved by the Board.
Tree removal behind 600 San Nicholas: $1,590.00
Variety of Repairs and Maintenance in Common Areas: $3,775.00
Siding Repairs for 119 Santa Rosa Court: $1,926.00
Capital Repair Projects
In February 2019, we discussed the possibility of re-piping the community to address issues (and significant repair costs) associated with ongoing slab leaks throughout The Terraces.
In addition to that, other capital improvement/repair projects are being discussed including community-wide asphalt resurfacing, siding replacement, iron fencing replacement and painting, and pool deck replacement. Here’s a summary of the various proposals:
Siding Repairs: $553,045.00
Pool Deck Replacement: $365,000.00
To address any or all of these items, additional funding would be required in the form of a loan, special assessment, HOA dues increase, or a combination of any/all.
If you have an opinion or expertise on any of these matters, please join us for the next Board meeting and let your voice be heard.
Join Us for the Next Board Meeting
Come on out and voice your opinion on the various projects and goings on at the next board meeting:
Thursday, April 25th
Open Forum - 6:30 pm
Board Meeting - 6:45 pm
Platinum Management Group
65 Enterprise - 3rd Floor
Conf. Room – Huntington 1
Aliso Viejo, CA 92656