Lorian at Prospect Creek Owners Association, Inc.

What Lorian at Prospect Creek Owners Association, Inc.'s governing documents say

This is a reserve study for Sundance at Ute Creek Homeowners Association, a single-family home community of 94 homes in Longmont, CO. It is a financial planning document for the HOA board, not a set of rules for homeowners. It identifies common-area components the HOA is responsible for and projects their future replacement costs and a recommended funding plan.

• HOA's responsibility for common area components: The HOA maintains the items listed in the reserve study, including asphalt pavement, wood fences, irrigation system, landscaping, light poles, entrance monuments, the clubhouse and its roof, HVAC, stucco walls, windows/doors, the pool and its deck, cover, furniture, and mechanical equipment, as well as security cameras and a proposed shed/gate.
• Reserve funding and assessments: The study recommends increasing the annual reserve contribution from $24,000 (in 2024) to $38,200 in 2025, then rising to $103,500 by 2054, with annual inflationary increases. This is projected to cost owners an average additional $12.59 per month starting in 2025.
• Scheduled repairs and replacements (next 5 years): Major anticipated projects include: 2025 – landscape replacements ($15,525), entrance monument renovation ($31,050), pool deck repairs ($10,717), pool furniture ($10,350), pool finish repairs ($15,000 plus $55,543 for plaster), shed/gate installation ($25,875), and security system replacement ($10,350); 2026 – HVAC split system ($8,570), vinyl cover ($9,641), mechanical equipment phased ($6,427); 2027 – large light pole replacement ($9,978); 2028 – wood split rail fence phased ($115,498); 2029 – south wood fence replacement ($40,084) and more split rail fence ($119,541).

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.