Farmstead Commons Asphalt Survey Farmstead Commons Asphalt options: (pick one) * Get all asphalt work done throughout the complex at once. This includes entrance Road, under car parts, all parking/driving areas and all sidewalks Asphalt work to be done in stages over the next 4 years. Asphalt work is to be put on hold until asphalt reserve funds are adequate to complete necessary work. (Repairs to potholes etc. would continue to be done) Asphalt Work Funding - Additional Options: (If option 1 wins the vote) If all work is done throughout complex at once, how should it be funded?: * A special assignment is levied against all owners. Each owner would pay 1/82 of the total cost to be done. A loan is taken by the association, monthly fees would be raised the amount of the repayment of the loan.** (If option 2 wins the vote) If work is done in stages over the next four years, how should it be funded?: * A special assessment is levied for each year for the cost of the asphalt work done that year. Monthly fees are raised to cover the cost of the following year‘s work until the project is complete. (If option 3 wins the vote) If work is put on hold until adequate funds are raised: Monthly fees are increased to continue contributing to the Asphalt Reserve (for needed repairs) as well as an increased contribution so there are adequate funds for when the work is planned. This would require an anticipated timeline for work to be done so proper financial planning could be calculated. **All loan specifics (rates & terms) as well as special assessment amounts would be part of the final presentation to owners. Name * First Name Last Name Unit Number * Thank you! Your survey answers have been submitted to CB Property Management