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OSPREY COVE ROADS

Explore the historical background, current status, repair fund estimates, planning assumptions, and implications of the Osprey Cove roads. View sample issues and learn about planned future developments.

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OSPREY COVE ROADS

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  1. OSPREY COVE ROADS HISTORY STATUS PLANS & ASSUMPTIONS IMPLICATIONS

  2. HISTORY

  3. HISTORY

  4. HISTORY

  5. CURRENT POSTURE OF ROADS (View following pictures, representing a sample of existing issues)

  6. PLANNING ASSUMPTIONS • Approximately 15+/- miles of roads • Used today’s costs as basis for estimates • Earnings on cash reserves are assumed to cover inflationary factors for repair costs • New roads are equal or better than existing roads • Developer/builders/contractors will fix existing (and future?) problems

  7. Repair Fund Estimate • Employed average of last 3 bids @ $232,000 for 10% of roads • Suggests that we need $2.3 million over next 18 years or 128,000 per year to fund estimated cost • Current annual reserve per lot is $85 per year times 1050 lots = $89,250 • Difference is $38,000 or $37 per lot • Would increase assessment in 2007 unless other budget savings are realized

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