The study will analyze the community’s infrastructure, including the newly-developed Walden Lake Sports Complex.
The Walden Lake Community Association voted Monday, June 20, to fund a reserve study, which will look at every asset in the community.
The association voted to have Reserve Advisors, regionally-based in Tampa, complete the study for $6,500.
One of the main desires for the reserve study stemmed from the continued changes in the community, including the newly-developed Walden Lake Sports Complex and improved bridges and infrastructure.
“A reserve study analyzes the HOA finances,” Sharon Philbin, WLCA vice president, said. She led the June meeting in the absence of WLCA President Dan Orrico. “It analyzes for future money that will need to be spent for maintenance.”
The WLCA board of directors was dissatisfied with the most recent reserve study done on the community, which failed to include items such as the community’s truck and pump stations.
The preliminary process for the new study will begin this summer and will be done in August.
New additions in the community that will be part of the reserve study include the baseball diamond at the Walden Lake Sports Complex, in addition to the newly-built pavilion.
The Walden Lake Sports Complex has been the biggest recent addition to the community. In October 2015, the WLCA approved the first phase of construction of the polo field, with a budget of $50,000. New infrastructure at the complex includes the 20-by-30 foot pavilion, six pavilion tables, a baseball diamond including backstops and bases, covered trash cans and hibachi grills. Baseball benches that border the complex will also be included in the study, as well as the fencing that borders the complex’s baseball diamond.
The complex will need review in future reserve studies, as further additions will be made. Currently, a soccer field is being added.
The reserve study will also analyze the need for roof replacements on buildings and the replacement of the community’s equipment.
With a full study done this year, the community association will only do an update the following year.
Contact Emily Topper at etopper@plantcityobserver.com.
