CoveCayCondos.com

Village I Members Area

New Projects

Projected Date: 3/21/2006 - Comments from your Board Director/Building Chairman, Rod Kaliher:

1). ROOFS:

As you may or may not know, we have been under pressure from our insurance carrier to replace our roofs on buildings 2614, 2615, 2617 and 2618. We have already completed the roof on Building 2616. We have studied this roof project for over one year.

As a result we have proceeded to call for bids, studied them and accepted the system and the price for all four buildings. The total cost for the four roofs is $580,000.00.

2). CARPETS:

We also awarded a bid for replacing the carpet on the walkways on all five (5) of our buildings - 2614, 2615, 2616, 2617 and 2618. The total cost for this project is $86,000.00.

The total cost of the roof project plus the carpet replacement project will be $666,000.00 which will be the total of our assessment for these projects.

We are also completing work on the second elevator in building 2617. The two (2) elevators were totally unreliable during the hot summer months and even the cold months. The cost of the elevator project was taken out of our unfunded emergency fund so there should be no special assessment for this project.