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A reserve study is an in-depth evaluation of a property's physical components and an analysis of its reserve funds. Based on a thorough on-site inspection, a custom reserve study details anticipated replacements or repairs to common-area elements and recommends annual reserve funding to cover capital expenditures for the next 30 years.
The reserve study gives community association managers, board members and property owners assurance that future major property expenses are identified early and that a funding plan is in place to pay for those expenses. A well-prepared reserve study can avert special assessments and supports a harmonious community.
The following table is a summary of GVRCA reserve study items by year, area and component. The table is sortable by headings. To view the complete GVRCA Reserve Study including financial information, please visit GVRCA Terra West Web Portal.
|Date||Reserve Item Area||Reserve Component Name|
|2017||Common Areas||Wrought Iron Fencing - Repaint (Phase V)|
|2017||Common Areas||Stucco Wall - Repaint (Phase IV)|
|2017||Common Areas||Asphalt Paths - Seal/Repair|
|2018||Wingbrook Avenue Park||Safety Padding - Replace|
|2018||Wingbrook Avenue Park||Play Structures - Replace|
|2018||Strawberry Hill Park||Park Furniture - Replace|
|2018||Strawberry Hill Park||Spring Toys - Replace|
|2018||Strawberry Hill Park||Safety Padding - Seal/Repair|
|2018||Strawberry Hill Park||Safety Padding - Replace|
|2018||Strawberry Hill Park||Play Structures - Replace|
|2018||Strawberry Hill Park||Basketball Court - Refinish|
|2018||Strawberry Hill Park||Pole Lights - Repaint|
|2018||Strawberry Hill Park||Gazebo - Wood Trellis - Repaint|
|2018||Strawberry Hill Park||Gazebo - Repaint|
|2018||Wingbrook Avenue Park||Safety Padding - Seal/Repair|