Please attend a special membership meeting on Oct. 17 at 7:30 p.m. in the clubhouse to hear the DHARA Board of Directors explain why it is undertaking a major project this fall to repair water intrusion damage to the pool deck and pump room and to prevent this type of damage from reoccurring in the future. We need at least 30 members to attend this meeting. The Board has authorized an expenditure of up to $375,000 to pay for this work, and the members will be asked to vote on two alternatives for financing it, which include a combination of withdrawing funds from our capital reserves account and a special assessment.
As you may know, the Board has been investigating ways to correct this water intrusion issue for the past two years. Seal Engineering, a highly respected civil engineering firm, was hired to determine the source and extent of the water intrusion problem and to prepare a detailed scope of work to fix it (see reports, drawing, etc.). This past summer, the Board hired Seal to solicit bids from reputable construction companies to do this work. After considerable delay, four bids were received, and the Board selected the lowest bidder, Vatica Engineering, to start this project this month.
Under normal conditions, the Board would provide more notice to the members regarding a project like this, but the delay in receiving bids has created a situation where the concrete repair work must begin this month to be completed by mid-December, before it becomes too cold to safely pour concrete. The Board believed that it would be less risky to undertake this project now, during dry fall weather, than waiting until spring when rainy weather could impede the project and potentially delay the opening of the 2020 pool season.
Funding Options
Option 1:
- Capital reserve drawdown: $100,0001
- One-time, non-refundable assessment: $550/membership
Option 2
- Capital reserve drawdown $200,0001
- One-time, non-refundable assessment of $350/membership
1 The capital fund serves as DHARA’s financial reserves for large capital projects and unexpected expenditures. The fund currently has ~$425,000. If approved, we will use part of our capital fund for the pool repairs, while keeping enough reserved so we are always prepared for the unexpected.
How to Vote
For those unable to make the meeting and vote in person, you have two other ways to vote on the financing options:
By Mail: Download/print the ballot then mail it back. The ballot must be received no later than 6pm, Wed., Oct. 16, 2019.
OR
Vote Online NOW: Vote below using a simple, online form. (The online form is open until 6 p.m. on Wed., Oct. 16, 2019.)
