Fence News
Photo by Linda Jagiello
November 21, 2014
As some of you may have heard, the HOA board is starting to explore the costs of fence replacement. Our fences are estimated to be in the last half of their useful life now, and the board, to be proactive, is garnering information regarding replacement.
Some history: The 2010 HOA board had a reserve study done which projected that the community fencing replacement expense (shared by the TMMD and the TrailMark HOA) would need replacement beginning as early as 2022. The 2010 Reserve Study forecasted a 4-year phased replacement in the 2022-2025 time frame. The study is posted under the 2010 Financial Documents.
The current HOA board thought it wise to be proactive on this potentially large future liability. Accordingly, the board is performing the due diligence on behalf of our neighborhood to determine: a) if the 2022 replacement projection still appears accurate, b) what options the HOA and the TMMD could employ to extend the life of the current fence and/or extend its replacement date, and c) which materials besides wood exist for full replacement, and what are the associated costs and benefits of those options.
The board is currently waiting on an update to the original reserve study. The update was requested a number of months ago and we have not yet received it. Additionally, the board has asked for bids from 3 separate fencing companies to get a general idea of costs in current dollars, and what other options exist (cement, composite). As of now, we have received only one bid, which is what we shared at the 11/13/14 meeting. The estimated cost of replacing the fences with like material (wood) in today's dollars was $959K. Concrete was quoted at $1.8M, and composite, which was only quoted for the privacy fences (not the split rail fences), was $456K.
Once we have the updated reserve study in hand, and/or additional bid information, we will post it to the TrailMark HOA website to keep you apprised of our findings.
As some of you may have heard, the HOA board is starting to explore the costs of fence replacement. Our fences are estimated to be in the last half of their useful life now, and the board, to be proactive, is garnering information regarding replacement.
Some history: The 2010 HOA board had a reserve study done which projected that the community fencing replacement expense (shared by the TMMD and the TrailMark HOA) would need replacement beginning as early as 2022. The 2010 Reserve Study forecasted a 4-year phased replacement in the 2022-2025 time frame. The study is posted under the 2010 Financial Documents.
The current HOA board thought it wise to be proactive on this potentially large future liability. Accordingly, the board is performing the due diligence on behalf of our neighborhood to determine: a) if the 2022 replacement projection still appears accurate, b) what options the HOA and the TMMD could employ to extend the life of the current fence and/or extend its replacement date, and c) which materials besides wood exist for full replacement, and what are the associated costs and benefits of those options.
The board is currently waiting on an update to the original reserve study. The update was requested a number of months ago and we have not yet received it. Additionally, the board has asked for bids from 3 separate fencing companies to get a general idea of costs in current dollars, and what other options exist (cement, composite). As of now, we have received only one bid, which is what we shared at the 11/13/14 meeting. The estimated cost of replacing the fences with like material (wood) in today's dollars was $959K. Concrete was quoted at $1.8M, and composite, which was only quoted for the privacy fences (not the split rail fences), was $456K.
Once we have the updated reserve study in hand, and/or additional bid information, we will post it to the TrailMark HOA website to keep you apprised of our findings.