Cedar Springs 1,2
Estimated Annual Funds Needed
Revised August 18, 2008

1. We need to take care of the basics of our development. It provides immediate value, as well as improves the development for resell purposes. We are not attempting to provide frills, but only the basics.
2. We are NOT proposing any restrictive covenants, and will only abide by the land use covenants of Larimer County.
3. We all utilize the common access road and need to pay our share.

Road Maintenance

1. Dirt needs to be pulled from the ditches back onto the roads and smoothed.  This has not been done in several years. Estimated time is 5 hours @ $130/hour for a total of $650.
2. There are 2.4 miles of road in CS 1,2.  Assuming that 5% of road surface is redone each year with recycled asphalt, this equates to 10 loads/year.  (One load covers approximately 60 linear feet of road, resulting in 88 loads/mile.)  The estimated cost for 2009 is $325/load, resulting in a total of $3250 required.
3. The common access road (County Road 43 up to the Berg gate) is currently shared equally between CSIA and Cedar Park. The current total yearly cost is $36,000.  CS 1&2 has a total of 97 lots, CSIA has a total of 191 lots, and Cedar Park has a total of 295 lots.  This results in CS1&2 paying 1/6 ($6000), CSIA paying 1/3 ($12,000), and Cedar Park paying ½ ($18,000).

TOTAL = $650 + $3250 + $6000 = $9900

Snow Removal

1. Obviously, this can vary considerably depending on the weather conditions.  It is estimated that $1000/year would cover in a “normal” year.

TOTAL = $1000

Lake Expenses

There are several recurring expenses for the lake, including taxes, insurance, aeration, and stocking.  Excluding fish stocking, the other costs are:

1. Insurance for 2008 was $752, and is assumed to be around $760 for 2009.
2. Taxes were $812 in 2007, and dropped to $781 in 2008.  An estimate of $800 is assumed for 2009.
3. Aerator pump requires rebuilding every 2 years at an expense of approximately $400.  This results in an average yearly repair cost of $200.
4. The yearly utility cost to aerate the lake is approximately $250.

1. CS 1&2: TOTAL =  (1/3) * ($2010) =  $670
2. CSIA:     TOTAL = (2/3) * ($2010) = $1340

Miscellaneous ExpensesThe miscellaneous expenses incurred by CSIA were reviewed to get an idea of what would be expected for Cedar Springs 1&2.  These are:

Note: The liability insurance is to protect board members from individual lawsuit by a homeowner. Most boards have in order to get owners to volunteer to serve on an association board. It is unclear as to whether we would need this.

Summary

Realistically, 100% participation will not be achieved as it is up to each lot owner to accept or reject. Assuming effective communication of how these funds would be used, assume 2 out of 3 agree which equates to 64 lots.  Also, assume CSIA collects separately for the common access road for those that don’t participate in CS1&2. These results in the fee needing to be;

For comparison purposes, CSIA (Cedar Springs 3&4) has fees of $225/lot, and Cedar Park has fees (road dues) of $275/lot. 

To save mailing costs it would be great to have everyone's email address.
So please email Liz Mrofka or Bill Martin.
Please include your name, and address or lot numbers.