PRESIDENT'S MESSAGE By: Dave Peterson, Board President
My message is a little different this month. I’ll close with a quick update of what’s happening, but I want to start out with a couple of big topics. Old Age. This subdivision was built about 60 years ago, and much of what you see and what is in the ground is original stuff. When things are new, operation and maintenance are easy and cheap, and replacement needs are non-existent. Reserve studies look out into the future and estimate future major Keys Breeze
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repair and replacement costs, but it’s often hard for people to take those projections seriously, especially as the reserve fund balance gets large. So, the natural tendency is for boards to reduce/defer adding to reserve accounts in order to keep dues low. Then one day, we look up and everything; EVERYTHING; is suddenly old, and needs to be replaced yesterday. We passed that milestone years ago, and we are playing catch up. So the dues are escalating rapidly, and unfortunately, they will keep going up. Replacements and major repairs are expensive; much more so than the original costs. Everything is way more expensive now; you’ve seen it in your households and businesses. MARCH 2023
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