Green Circle Service Corporation
(GCSC)
... serving the Taormina community ...
~~~~~~

Fee Increase - July 2010

... the first one since 1984...


As you may have read in the minutes of our last meeting (March 13, 2010), your GCSC Board of Directors has determined that it is necessary to raise the monthly fee by $5 per month, per property beginning July 2010.  This action was taken after many months of discussion. We suggest that you use this website to review past minutes of board meetings if you did not attend the meetings.

It is imperative that we begin saving now for road maintenance that we know will be necessary in the future. Rather than have to make a major assessment of all property owners at the time of needed maintenance, it is prudent to have a dedicated road fund in place. The full amount collected by this increase will be placed into a dedicated road repair fund.

The increase is based upon projected income and expenses over the next ten years.  An abbreviated statement of this projection is presented below. The amount being saved for road repair and maintenance will be monitored by future boards to insure that it will meet anticipated expenses. Continuing road maintenance is a fact of life and additional expenditures will be necessary throughout the life of our road

If you would have questions concerning this increase in the monthly fee you can contact the Board at gcsc1@sbcglobal.net

 

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Here are some ANNUAL income/expense figures that show how the road fund will benefit from this increase.

 
Right now
with July 2010 $5 increase
INCOME:  (65 single residences & 5 duplex parcels)
$ 21,300
$ 25,500
     
RECURRING EXPENDITURES: 
 
   Refuse and Recycling (including collection area maintenance)
$ 12,140
$ 12,140
   Road Upkeep/ Administration   
$ 5,860
$ 5,860
  (road cleaning & brush clearance/ insurance, bookkeeping)
   
     
ROAD FUND – Available to put into Road Reserve Fund each year
$ 3,300
$ 7,500
     

 

In 2007 the GCSC authorized repaving Taormina Lane and Arundale Road. At that time the cost to our community was: paving cost $68,600 plus $18,400 in repairs to the roads (engineering services). The paving company suggested that we should recoat the roads after five to seven years and resurface the roads after approximately ten to twelve years, depending upon the condition of the roads at those times.

+ + + + + + + + + + + + + + + + + + + + +

 

Cost projections showing estimated road costs:
(figures based on current (2010) cost with 3.5%/year increase)


Year: ---------------------------------------------------------------2014-----------------------------2019--------------------

TAORMINA LANE ..(Fog seal coating).........................$ 17,200
TAORMINA LANE ..(Asphalt surface replacement).....................................................$ 41,800 * (does not include engineering repair)

ARUNDALE ROAD..(Fog seal coating).........................$ 5,500
ARUNDALE ROAD..(Asphalt surface replacement).....................................................$ 12,700 * (does not include engineering repair)

 

 

 

 

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