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A reserve study is an in-depth evaluation of a property's physical components and an analysis of its reserve funds. Based on a thorough on-site inspection, a custom reserve study details anticipated replacements or repairs to common-area elements and recommends annual reserve funding to cover capital expenditures for the next 30 years.
The reserve study gives community association managers, board members and property owners assurance that future major property expenses are identified early and that a funding plan is in place to pay for those expenses. A well-prepared reserve study can avert special assessments and supports a harmonious community.
The following table is a summary of GVRCA reserve study items by year, area and component. The table is sortable by headings. To view the complete GVRCA Reserve Study including financial information, please visit GVRCA Terra West Web Portal.
|Date||Reserve Item Area||Reserve Component Name|
|2017||Common Areas||Asphalt Paths - Seal/Repair|
|2018||Strawberry Hill Park||Basketball Court - Refinish|
|2018||Friendship Park||Basketball Court - Refinish|
|2019||Common Areas||Concrete - Repair|
|2018||Wingbrook Avenue Park||Digger Toys - Replace|
|2020||Cozy Hill Circle Park||Gazebo - Refurbish|
|2018||Strawberry Hill Park||Gazebo - Repaint|
|2018||Josh Stevens Park||Gazebo - Repaint|
|2018||Summit Ridge Lane Park||Gazebo - Repaint|
|2018||Friendship Park||Gazebo - Repaint|
|2018||Strawberry Hill Park||Gazebo - Wood Trellis - Repaint|
|2018||Summit Ridge Lane Park||Gazebo - Wood Trellis - Repaint|
|2018||Common Areas||Landscaping - Renovate|
|2020||Common Areas||Palm Trees - Partial Replacement|
|2018||Bobtail Circle Park||Park Furniture - Replace|