ACTION REQUIRED: VOTE NOW
Vote closes December 17, 2017
Let your voice be heard…
Dear 2017 SBIA Member,
After many years of patching and work-around fixes, the tennis and basketball courts are past repair and need to be replaced. At the 2017 annual end-of-year member meeting we discussed the need to resurface the courts, to restore their utility and the inherent value of the entire property. The attending members voted in favor of us establishing a committee and allocating funds to explore the viability of replacing the courts.
The committee (members are listed below) — comprised of five board members and five members-in-good-standing, with significant collective experience in such projects — has been working diligently to define the scope of the project, examine different options and determine the solution that best benefits our members. Below is our recommendation. Please review it carefully, then Click This Link to VOTE if you are in favor or not of the courts’ restoration project. (You will have the opportunity to provide feedback when you vote.)
What will the courts’ restoration project include?
The existing asphalt surface will be replaced with a post tensioned concrete product that is 1) a better solution for our unstable base, and 2) lowers maintenance and overall costs for the life (25+ years) of the courts. The solution will include:
- one painted tennis court (with new net and posts),
- two lined pickleball courts, and;
- one basketball court (two commercial-grade, outdoor basketball hoops).
This project ensures the many Association activities and functions we hold throughout the Summer will be supported by the new facility.
What will it cost?
Based on our research, and estimates from multiple contractors, we have developed a not-to-exceed budget of $198,900 for the project. (See budget details at the bottom.) This includes the courts listed above, as well as other repairs and enhancements, including: new fencing, new electrical power/lighting, modern practice wall (to replace the deteriorating cinder block wall) that will double as a movie screen, replace or repair the shed, as necessary, and other improvements (e.g., drainage, landscaping). The budget also includes funds for additional engineering, legal or other professional fees, and contingency.
How will we pay for it?
We estimate at 2017 fiscal year end we will have just over $100,000 in the bank. $25,000 should be reserved for ongoing operating expenses, giving us $75,000 to allocate to this project. The remaining $123,900 would be financed through a 10-year loan.
Based on current membership levels (and recent yearly averages), to pay the cost of the loan each year membership dues would increase1,2 by the modest amounts listed below.
- Full membership — $50 annual increase
- Senior membership — $15 annual increase
- Junior membership — $25 annual increase
We explored multiple options to pay for the project and believe this combination will have the least financial impact on you, our members.
When will it happen?
We expect the project to be completed in the Fall, 2018. But we will work hard to deliver the new courts as soon as possible. To continue making progress we now need your approval of the project.
Please Click This LinK to VOTE to restore this important neighborhood asset. The committee is confident once the courts’ project is completed it will be something we all will be proud of…and will add value to our individual properties, as well.
Courts Restoration Committee
P.S. A survey plan of the proposed solution has been submitted to the Falmouth Conservation Commission for review. You are welcome to attend a public hearing on it, December 13, 2017. (Meeting starts at 7:00 PM.)
1 Membership levels may fluctuation in future years, which could impact the dues amount needed to pay our loan obligation.
2 Ongoing operating expenses in future years may necessitate other dues increases.