Fellow unit owners,
We have received a couple of proposals for the creek bank maintenance behind building 1.
To restore the rip-rap to current erosion prevention standards and in accordance with FDEP regulations, two qualified contractors propose to charge ~$270,000 – $290,000 plus permits, fill dirt costs and engineering fees. We are waiting on a third bid, per our documents, but don’t believe there will be much difference.
As we had budgeted just $100k for the work (anticipating 2x the 2019 signed contract cost), there will likely be a one-time assessment of ~$1,100 – $1,200 per unit to move forward with the restoration of the eroded creek bank.
Responses to the question of why it’s now going to cost us more than 5-6 times the $49,000 we had contracted for in 2019 range from a general post-pandemic increase in labor and material costs to the
current work as proposed is more comprehensive than the 2019 contract called for.

Respectfully yours,
Tony King, VP, RCOMC, on behalf of your board of directors