[alwann]

I was expecting to see postings and opinions about the announced plan to renovate and expand the Sumter boardwalk. Nice, but wasn't it just virtually rebuilt after suffering storm damage? So, whose wallet does this bite? I hope the "outsiders" and potential buyers enjoy the improvements. I don't go there much now because of the crowds and think the current design is perfectly fine.

[Normal]

It comes out of Amenity Fees.

[Old Traveller]

It was agreed a year ago to pay for an engineering report to look at the repair work and enhancements to the Lake Sumter Landing boardwalk. The Village's anticipated when they first built Lake Sumter Landing that in 20 plus years, the wooden boardwalk, would have to be replaced. A portion of everyone's monthly amenity fee was set aside in a reserve fund to pay for that future work. The future is here, the funds are available, and the boardwalk and additional amenities will be constructed. They will then reserve funds to replace the boardwalk in another 20 or 25 years. That's how everything works in the Villages. Something tells me you have never sat on a homeowners board or any of our CDD's boards. You are more than welcome to attend one of their meetings.

[BrianL99]

Originally Posted by Old Traveller

They will then reserve funds to replace the boardwalk in another 20 or 25 years.
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The current proposal is to use "Trex" or an equal composite. The replacement ($3.5M) should last a lot longer than 25 years.

[Old Traveller]

The point is, the Villages will reserve funds for the future replacement of the boardwalk at Sumter Landing. As they reserve funds for all the structures, pools, roofs, A/C, recreation centers etc. It's up to the board to conservatively figure out how long the amenities will last. That is the difficult and boring work that your board has to figure out.