Coronado Cays HOA - Announcements - Coronado Cays Living Magazine

Coronado Cays Living Magazine - February Issue

2/1/2020

Happy February 2020!

Hopefully you are still working on your New Year’s resolutions and making progress. The CCHOA is in the middle of the 2020-2021 budget building process. As promised an extensive onsite reserve study and analysis was completed in early December. The survey was conducted by SmartProperty in conjunction with their architectural engineering partner, EMG Corporation, and HOA personnel. The survey team visited each village to inventory components and evaluate the remaining life of each item. An onsite inspection is required by law every three years and is essential to building an accurate reserve budget, so that we are saving the right amount of money to make repairs or replace components in the future. The second portion of the budget is the operating budget. The operating budget is used to fund day-to-day requirements and maintenance. Each village and Common has both an operating and reserve budget which, when combined, determine your monthly assessment fees. The budgeting process involves the HOA Staff, the Finance Committee, and the Village Directors. Final approval of the budget is made at the Board of Directors Open Session Meeting in April to support the distribution of the Annual Budget Packets to each homeowner in May.

Only five months remain in the 2019-2020 Fiscal Year and the HOA Staff are working hard to ensure the completion of planned projects and negotiating contracts for projects planned in Spring 2020. A major roofing contract was started in late December in Mardi Gras Village to address flat roof leaks with homes along the bay on Tunapuna Lane. Additionally, contractors are replacing chimney caps/spark arrestors, dormers (vents for attics), gutters, and corroded drip edges on roofs throughout Mardi Gras. Another roofing project in the Cays includes sealing the flat roofs and replacing corroded parapet wall caps in Kingston Village. Both projects will reduce the risk of leaks and extend the life of our community. A key fob system has been installed at the Port Royale/Mardi Gras pool and clubhouse replacing the no longer supported magnetic key entry system. This upgrade will be planned for other villages as part of the 2020-2021 budget. Major projects continue in Kingston and Antigua Villages with the exterior renovation and sanitary sewage waste pipe relining, respectively.

Seawalls are a critical component in ensuring the safety and longevity of our community. Not everyone lives on the water in the Cays, but every village has common area adjacent to a seawall. Thus, we have a shared interest in making sure our seawalls are maintained and kept intact. The failure of one section of a seawall can adversely affect neighboring sections and current estimates are at $8,000 per linear foot for replacement. Seawalls or bulkheads, as they are referred to in the Coronado Cays Specific Plan, are the responsibility of the individual homeowners that live on the water. This applies to Bahama, Green Turtle, Trinidad, Blue Anchor, and Port Royale Villages. Some homeowners are surprised to hear this and assumed it was the HOA’s responsibility. So what can we do to protect our seawalls? Removing large plants and trees adjacent to bulkheads to minimize the stress placed on the bulkhead, minimizing the water that is used for landscaping near bulkheads, ensuring the sand berm under the water adjacent to the bulkheads is not disturbed (by ensuring your boat is moored bow in per the Member Handbook), and conducting regular inspections and maintenance of the bulkheads. More to follow on this important issue as the HOA Staff works with engineers and contractors to address known concerns in the Cays.

Good neighbor tip: The rainstorms in November and December revealed issues with homeowner modifications to condominium units. Leaks resulted from improperly sealed air conditioner ducting in two instances and improperly maintained tile decks. Ensuring proper installation and maintenance of homeowner modifications will help keep you and your neighbors dry while saving on insurance premiums and headaches.

Henry Angelino
General Manager