Hideaway Village Recreation Center Website

Update 8/27/17:

The Recreation Center improvements will begin soon!  The association has selected MW Golden as the General Contractor for the project.  Please check out their website at https://www.mwgoldenconstructors.com

A timeline will be posted here as soon as received from MW Golden.  

Please remember, your second payment of $1,340 is due on August 31st.

Update 1/12/17:
The Vote is In!

Welcome to the HV Rec Center website! The Rec Center committee has worked hard to present you with all the information you'll need to decide between different options for your Recreation Center. After extensive discussions with architects (SALT Workshop), research, review of costs, assessment of building structure, anticipated future expenses (roof), discussion about ongoing issues (e.g. drainage, leaks, snow removal), the age of the Recreation Center building, visiting other clubhouses and survey results, the committee settled on three options.

We came up with 3 different options: demolition, and 2 renovation options. SALT workshop has designed the 2 renovation options for us based on your feedback about what you want for your Rec Center. You can see the architectural renderings, full financial information and, hopefully, have your questions answered about the options.

Things you can find here:

    *Choices for owners
    *Architectural drawings
    *Financial information
    *How the vote will be counted
    *FAQs

Both remodel options include addressing deferred maintenance that has been put off for a long time: roof, lighting, flooring, painting the siding and basic repairs. The Rec Center building has a good skeleton to build on - this has been confirmed by an engineering firm. SALT workshop used RS Means software to price every detail of both remodel plans for us.
To see SALT Workshop's estimate cover letter click this link:
https://www.dropbox.com/sh/p6o5wojxvv7jg8t/AAB1uUwFQ4B5y71d6lVa84APa/2016-08-08%20ESTIMATE_COVER_LETTER.pdf?dl=0

Final decision on the fate of the Rec Center - Please take the online survey (vote for your choice) which is open through January 6th, 2017 at midnight. Vote will be administered online via Survey Monkey. You will receive an invitation to participate in the survey vote via email on December 13th. If you did not receive an invite to take the survey please email hvreccenter@gmail.com Owners who have not provided an email address to BVM will receive an information packet and ballot in the mail. The deadline for these mail-in ballots is January 6th.

If the vote is for one of the remodel options, you can bookmark this site for ongoing and updated information about the construction process.

 Choices for Owners

Option 1
Demolish the Rec Center Building and Rental Apartment. Budget $150,000
This is a permanent decision, our options are limited due to HOA regulations. This option does not include any new landscaping. New landscaping would be left to a new committee to design, develop a budget, solicit a new vote of owners and manage. This option eliminates expenses related to maintaining the facility, currently costing $27/month per unit for a gain of $324/year per unit. Additionally, $27/month goes to common property reserves, including the Rec Center and tennis courts, so this amount would be reduced due to demolition of the Rec Center.

• Demolition
• Haul away debris
• Fill in foundation hole
• Dirt parking lot

Pros

• Eliminates expenses related to maintaining the facility

• Minimizes future liability related to facility 

Cons

• Will require future landscaping and maintenance plan
• Potential limits in ability to take advantage of this beautiful asset/property
• Potential management of intruders on lot before or after landscaping given its location on Vasquez Road
• Impact of resale or rental values anecdotally believed to be negative (see FAQs for more information on committee research)
• Condo units will be assessed about $1,550 per unit (see Financial Information and FAQs for more information)

Option 1 Budgeted Costs
$150,000 + loss of apartment rental income
Financial Cost to you per unit:
$1,550 + loss of your percentage of apartment rental income
Additional Cost:
Some percentage of your condo's value at resale
Financial Gain to you:
The Rec Center currently costs $27/month per unit for a gain of $324/year, plus a portion of the $27/month in common reserve contribution

Option 2

Lower Cost Improvement. Budget $260,000

This option includes some of the most popular amenities that owners identified as important in the survey. This renovation updates the facility with basic amenities. Along with needed repairs, improvements upstairs opens up this part of the Rec Center to owners. Owners will enjoy a stone paver patio overlooking the river.

• Repairs and minimal improvements throughout the facility
• New and upgraded indoor hot tub
• Repair and resurface existing pool
• Replace hot tub decking
• Resurface concrete around pool
• Lower level uncovered deck
• Minimal changes to lower level restrooms
• Minimal repairs/upgrades to upstairs to create community space for owners
• New appliances and formica countertops
• New roof and paint
• New windows (same as existing size) and doors
• Repairs to front entry 

Pros

• Includes many amenities identified in survey
• No adverse impact on property or rental values (unknown whether it would actually increase property or rental values)
• Modern amenities
• Refreshes existing asset and includes new or improved assets so as to replace the lifecycle of the capital reserve planning (i.e. push to future) although in a more limited way than higher cost remodel

Cons

• Condo units will be assessed approximately $2,700
• Finishes not as nice as Higher Cost Remodel
• Although budget estimates include contingencies, unknown issues may exist

Option 2 Budgeted Costs
$260,000
Financial Cost to you per unit:
$2,680
Financing options available



Architectural Drawings

Rear Exterior

Front Exterior

Front Exterior

Front Exterior

Pool Area

Pool area

Pool Area

Pool Area

Option 3
Higher Cost Improvement. Budget $675,000
This option refreshes the building for a significant future time period. It includes many of the most popular amenities owners indicated they preferred in the survey. A complete renovation of the building creates a Rec Center that would be a highlight of the Hideaway Village neighborhood.

• Complete renovation of the entire facility
• New and upgraded indoor hot tub
• Addition of exterior hot tub on covered patio overlooking the river
• Repair and resurface existing pool
• Replace hot tub decking
• Resurface concrete around pool
• Open up pool area and lower floor
• Two covered decks: one upstairs and one downstairs for enjoyment of views
• Full remodel of all restrooms
• More extensive upgrades to upstairs to create community space for owners and potential rental income meeting space
• New roof, gutters, snow guards and paint
• Exterior stonework
• New larger windows and doors especially in pool room to open up the space to the outside
• New matching doors throughout
• Repairs to front entry  

Pros

• Refreshes structurally sound building for significant future time period
• Takes advantage of maintaining an asset on a beautiful lot
• Includes many amenities identified in survey
• No adverse impact to property or rental values; anecdotal evidence only that it provides an increase to property values; possible increase to rental rates (but not really known) 
• Includes new or improved assets so as to replace the lifecycle of capital reserve planning (i.e. push to future)
• Same or lower maintenance costs anticipated

Cons

• Each condo unit will be assessed approximately $6,960 (see FAQ s for more info about payment and payment plans)
• Although contingencies are built into the budget based on SALT Workshop estimates, unknown issues may exist

Option 3 Budgeted Costs
$675,000
Financial Cost to you per unit:
$6,950
Financing options available


Architectural Drawings

Front Exterior

Rear Exterior

Lower Deck

Pool Area

Pool Area

Pool Area

Pool Area

Exercise or Game Room

Upper Level Entry

Upper Level Fireplace Area (looking toward entry)

Upper Level Community Room

Entry Room (looking toward Vasquez)

Fireplace Area

Upper Level Community Room

To see SALT Workshop's full architectural plans click here:
https://www.dropbox.com/sh/p6o5wojxvv7jg8t/AACDm4fWhtzrA0kJ5YKM7FY2a/ARCHITECTURAL_DD_DRAWINGS/16-08-08_HIDEAWAY%20CLUBHOUSE%20ARCH_PLANS.pdf?dl=0

Financial Information

As of 9/30/16, $75,000 in cash has been saved for all common property (Rec Center, tennis courts, common areas and walkways). $20,000 will be used next summer to repair and resurface the tennis courts. This will leave about $55,000 plus $2,600 a month going into reserves. This means about $70,000 will available in the spring - although $10,000 will be used to repair the water main break regardless of the outcome of the vote. The committee has NOT offset any reserve amounts against potential special assessments for any of the Rec Center options. This is explained more fully in FAQs #2.

Option 1 Demolition
$150,000 + loss of rental income
Financial Cost to you:
$1,550 + loss of your percentage of rental income
Additional Cost:
Some percentage of your condo's value at resale
Financial Gain to you:
The rec center currently costs $27/month per unit for a gain of $324/year plus a portion of the $27/month in common reserve contribution

Option 2 Lower Cost Improvement
$260,000
Financial Cost to you:
$2,680
There will be financing options available. 

Option 3 Higher Cost Improvement
$675,000
Financial Cost to you:
$6,960
There will be financing options available.

Financing Options
Payment options include
1) Two equal payments, 1st in May and 2nd in August of 2017, or
2) Monthly ACH payment plan with interest and an administrative fee TBD starting in May 2017 with the number of payments to be determined so the last payment is made by project completion.

Voting Information

Each owner will be given 3 options. A vote for the Lower Cost or Higher Cost Improvement will be counted as a vote to keep the Rec Center, a vote for Demolition will count as a vote to get rid of the Rec Center. For example, if the vote is perfectly split 3 ways with 33% each, it will count as a 66% to keep against a 33% to get rid of the Rec Center. The Board will be presented with the survey results and proceed accordingly.

FAQs

Q 1: What are current legal restrictions on the use of the Recreation Center and its land?
A 1: The land is “deed restricted” to recreational uses only.  Because recreation is the primary use of the Recreation Center, the HOA can have a rental (per our association lawyer).  The property must be used for “recreational” purposes and therefore if torn down we would have to use it as a trailhead, picnic area, bike park, etc..  If the Recreation Center is torn down, there would most likely be significant restrictions on any future rebuilding due to the wetlands located along the creek.
Q 2: What is the current HOA reserve balance for  the Recreation Center and common amenities?
A 2: As of 9/30/16, $75,000 in cash has been saved for all common property (Rec Center, tennis courts, common areas, walkways).  $20,000 will be used next summer to repair and resurface the tennis courts.  This will leave about $55,000 plus $2,600 going into reserves each month.  This means approximately $70,000 will be available in the spring although $10,000 will be used to repair the water main break into the Rec Center building if we vote to keep it.  The Committee has NOT offset any of these reserve amounts against potential assessments for one of the Rec Center options. The Committee believes a decision about using any portion of the reserves should not be made until the Board has a plan about long term reserve needs for all common areas and a Rec Center decision has been made.  Leaving the money in the Common Reserve account will allow the association to help manage cash flow while special assessments are being collected and will help ensure we do not need to ask for an additional assessment to build back up the Common Reserve fund based on the recommendation of the Reserve Study Firm.
Q 3:  What does the Recreation Center currently cost each condo owner per month/year?
A 3:  Approximately $27 per month for monthly common amenity maintenance costs including BVM management fee, maintenance and repairs and utilities. This number comes from the August 31, 2016 income statement and is the total YTD expenses for the Recreation Center divided by 10 months divided by 97 homeowners. 
Plus each owner contributes approximately $27 per month towards the common reserve account which is a savings account for common amenity capital improvements.  This amount is an allocated portion of each homeowner’s $227/month management fee based on a budgeted annual amount.  This amount may fluctuate once the reserve study is completed for the Recreation Center.  This reserve fund pays for the Recreation Center, the tennis courts and common areas and walkways.
Q 4: What is the assessment of the structural integrity of the Recreation Center building?
A 4:   The Recreation Center building has been evaluated by an engineering firm and was deemed structurally sound.
Q 5:  What did the Committee view as its tasks?
 A 5:         The Committee’s tasks included:
    •    Solicit feedback from homeowners about what amenities are important to them and their families.
    •    Research restrictions on the use of Recreation Center property.
    •    Research current operations and reserve costs of Recreation Center.
    •    If possible, evaluate the impact of different options on resale or rental values.
    •    Research demolition costs.
    •    Determine reasonably necessary improvements as well as a more expansive improvement plan given the age and condition of the building.
    •    Organize and hold a vote of all owners to determine the future direction of the Recreation Center.
    •    Report the vote results to the HOA board and homeowners.
Q 6: What three Recreation Center options will be voted on?
A 6:     After extensive discussion, research, and consideration, the Committee is putting forth 3 options:
Option 1:  tear down the entire Recreation Center, including the apartment, fill in the foundation hole and look at options for other amenities in the future.
Option 2:  perform minimal (lower cost) remodel, including necessary repairs given building’s age.
Option 3:  perform full (higher cost) remodel, including necessary repairs given building’s age and to incorporate top amenities identified by homeowners (with Board determining if payment would be over 2 years).
Q 7: What will it cost to tear down the entire center, including the apartment, and restore grasslands?[2]
A 7: $150,000 estimated for demolition.  This estimate includes tear down, haul away, filling in the foundation hole and adding a bench so the area can be used for recreational purposes.  The total cost of this option will be approximately $150,000/97 units or approximately $1,550 per unit.  A special assessment would be anticipated to occur in May, 2017.
Q 8:  What are pros and cons of demolition?
A 8: Pros include eliminating expenses related to maintaining the recreation center facility.  Monthly cost savings per unit would be approximately $27/month in maintenance costs and approximately $22/month in common reserve contribution (current $27/month less estimated $5/month we would need to continue to contribute for tennis courts and common expenses).
Cons include: removing a community asset with amenities which could negatively impact resale and rental values; requiring future landscaping and maintenance plan, requiring future amenity study and committee work, potential management of intruders on lot given its location, and assessment of $1,550 per unit.
Q 9:  What will it cost to perform the lower cost remodel, including necessary repairs? [3]
A 9: $260,000 estimated which includes 20% in contingencies and all construction related costs.  Special Assessment would be approximately $2,700 per unit ($260,000/97 units = $2,680).  Payment options include 1) two equal payments, 1st in May and 2nd in August 2017, or 2) monthly ACH payment plan with interest and an administrative fee TBD and the number of payments to be determined so they would be completed by project completion.
Q 10:  What are pros and cons for lower cost remodel?
A 10:  Pros include: update and repair some key amenities identified in survey including the hot tub and pool; positive impact on the value of the common asset, no adverse impact on property values; and improve the common asset to replace lifecycle of capital reserve planning (push to future).
Cons include: assessment of $2,500 to $2,900 per unit; not as much updating or amenities as identified in survey.
Q 11: What will it cost to perform the higher cost remodel, including necessary repairs?[4]
A 11: $675,000 estimated which includes 20% contingencies and all construction related costs.  Special Assessment would be approximately $6,960 per unit ($675,000/97 units = $6,959).   Payment options include 1) two equal payments, 1st in May and 2nd in August 2017, or 2) monthly ACH payment plan with interest and an administrative fee TBD starting in May 2017 with the number of payments to be determined so the last payment is made by project completion.
Q 12:  What are pros and cons for higher cost remodel?
A 12:  Pros include:  Complete refurbishment of a structurally sound asset for a significant future time period; taking advantage of beautiful WP lot; include many amenities identified on survey; no adverse impact on property values; new or improved assets replace lifecycle of capital reserve planning (push to future); maintain or lower current maintenance costs, and large room for events plus additional multi-function work space.
Cons include:  Cost of $6,960 per unit.
Q 14: What is the anticipated impact on monthly dues?
A 14:  If the Recreation Center is torn down, monthly dues would be expected to be reduced to an amount necessary to maintain the tennis courts, community walkways and landscaping and potentially address any costs that might be related to unauthorized use (e.g. campers, picnickers, etc.).
For the lower or higher cost remodels, monthly dues are not expected to increase compared to now, as the asset will be improved and will be less likely to need repairs.  Some expenses, for example, may decrease because of newer equipment and finishes, durability of newer materials, fixing of current problems, etc.  Beaver Village Management has also significantly improved cost management related to the Recreation Center.
Under both remodel options, the apartment will not be updated but will still be rented to help defray expenses.  The apartment is expected to remain rented at a market value of $1,200/month.  And there remains the possibility of renting the upper level great room for events especially with the Full Build-Out option.
Q 15: What is the impact on an owner’s ability to rent, on condo resale value, and on length of time to sale, with and without the Recreation Center?
A 15:  No hard and fast answers exist.  Several real estate agents were consulted.  On the one hand, demolishing the Recreation Center removes the potential for liability related to the Recreation Center and eliminates the necessity for paying dues to support it.  On the other hand, anecdotal evidence exists that the Recreation Center’s existence helps with rentals as well as resale values.
Demolishing the Recreation Center could also reduce the potential buyer market.
Hi Country Haus recently demolished and rebuilt their Recreation Center, despite proximity to the Fraser Valley Recreation Center, in part because they were concerned their condos would become Winter Park’s “low income” housing and potentially lead to declining value. Anecdotal evidence from their committee seems to suggest their condos started selling more frequently and faster than elsewhere in WP—but this is anecdotal only and could be attributable to factors other than their new Recreation Center (such as prices of their condos or the market in general).
The committee was unable to document an answer to Question 15 further.



[1] This information is based, to the best of the committee’s ability and without incurring any further expense than SALT’s Construction Estimates and Building Assessment, on information provided by the HOA attorney, the contracted consultants, the City of Winter Park, and to the extent they were willing to offer them, comments and opinions of Winter Park real estate agents.
[2] [3] [4]All numbers rounded off.

Further Questions
If you have any further questions or concerns about this issue, please email:
hvreccenter@gmail.com