Reserve Study - Whisper Canyon - cpnhoa.org

Reserve Study

Project No. 10018

Prepared for

Whisper Canyon Homeowners Association

Castle Pines North, Colorado

Prepared by

Bornengineering

1130 West 124th Avenue, Suite 100
Westminster, Colorado 80234

June 24, 2010

TABLE OF CONTENTS 1
5
Whisper Canyon Homeowners Association 20
22
Reserve Study Summary 26
Reserve Study Component Report 30
Reserve Component Detail 31
Reserve Study Annual Expenditure Spread Sheet 32
Reserve Study Annual Expenditure Detail
Final Reserve Study Summary
Final Reserve Study Projection Graph
Final Reserve Study Projection

June 24, 2010

Ms. Kim Maguire
Whisper Canyon Homeowners Association
c/o Premier Property Management
12875 Horizon Trail
Castle Rock, Colorado 80108
Email: [email protected]

Re: Whisper Canyon Homeowners Association, Castle Pines North, Colorado
Reserve Study – Project No. 10018

Dear Members of the Board of Directors:

Bornengineering has been commissioned by Whisper Canyon Homeowners Association to
prepare a Reserve Study. The purpose of this Reserve Study is to evaluate the common-area
components for major repair, maintenance and replacement items that are the responsibility of
the Whisper Canyon Homeowners Association. This Study provides a limited-scope evaluation of
the existing condition and remaining life of the common-area components. The Study also
includes estimated costs for the major repair, maintenance and replacement items to enable the
Association to establish an adequate level of reserve funds for the upkeep of the property.

Community Description

Whisper Canyon Homeowners Association consists of 42 single-family homes that were built between
2000 and 2002. The Association maintenance responsibilities consist of streets, street lights, fencing,
two shelters for mail boxes, two entry gates, and irrigated, landscaped areas.

Approach

To prepare this Reserve Study, Bornengineering has completed the necessary research, the
component report, the cost estimates, the financial projections, and the projection
interpretation.

The Study identifies each reserve component, estimates the quantities of the reserve
components and assigns major action items to those components. A major action item is
defined as anything estimated to be over $1,000. Reserve cost estimates were determined from
bids received from similar projects, unit costs obtained from projects of similar size and scope,
past expenditures on similar work and cost estimating guides (RS Means, Walkers Builders
Estimators Reference Book, Dodge Unit Cost Guide). We use typical useful lives and unit costs,
presuming the systems were properly installed in compliance with local code requirements,
manufacturer installation requirements and original construction documents. This Reserve Study
is not intended to be a construction compliance assessment or maintenance manual. The Study
was prepared based on visual observations. The Study comments on the locations, physical
description, the component condition, age, expected useful life, effective useful life,
recommendations, and assigns action items to the components during the term of the Study.

Bornengineering
PAGE 1

The projections were assembled using the cash flow method. This method develops a reserve
funding plan where contributions to the reserve fund are designed to offset the variable annual
expenditures from the reserve fund. Different reserve funding plans are tested against the
anticipated schedule of reserve expenses until a desired funding program is achieved.

The assigned action items and replacement costs for the component items are entered into our
in-house projection software and the reserve projections include the following information:

• A summary page with general information about the Association and the projection
summary results.

• The starting reserve fund balance and a projection starting date.
• Inflation factor, interest rate, tax rate (on interest earned), and loan rate if applicable.
• Monthly, bi-annual, annual, or special assessment contributions to the fund.
• A 20-year projection graph that displays the reserve fund balance and incorporates the

assessment contribution, future estimated expenditures, inflation, interest, tax (on
interest earned if applicable).
• A report detailing the estimated expenditures assigned to the individual reserve items.
• A chronological breakdown of the estimated reserve items in a calendar format.
• A monthly breakdown of the projections over the 20 year period.

There are three different reserve projections in the Study that were prepared in the following
ways:

Existing Reserve Projection

The existing reserve projection is based upon current reserve fund contribution levels.

Preliminary Reserve Projection

The preliminary reserve projection is identical to the existing reserve projection except the
reserve fund contributions are modified to allow the funds to cover the expenses over the
term of the Study.

Final Reserve Projection

The final reserve projection is produced after the board of directors and/or management has
had the opportunity to review and comment on the existing and preliminary reserve
projections. Since the Study is to be a working plan that the Association will endorse and
utilize, input is requested on the following items:

• Reserve items or estimated expenditures listed in the existing and preliminary
projections.

• Timing of estimated expenditures listed in the existing and preliminary projections.
• Homeowner contributions, either through special assessments or regular assessments.

Note: Although costs for projects are beyond the control of Bornengineering, suggestions
can be made for alternative materials or repair methods as requested by the Board of
Directors or the Property Management Company.

Bornengineering
PAGE 2

Bornengineering recommends updating the Reserve Study annually or at least every two years
to account for changes in inflation, reserve account interest rates, product life and other
variables.

Reference Material

The following references were provided to Bornengineering for this Reserve Study by the
Management Company and/or the Board of Directors:

• Community site map
• Declarations
• March 2010 financial balance sheet and income statement
• Interest rate earned on invested capital funds
• Historical expense and past capital project information

Exclusions

Items not included in this Study are:

• Non-common or non-limited common area components.
• Association components with work that have estimated costs below the reserve

component threshold amount of $1,000.
• Long lasting items with estimated economic lives exceeding 30 years, such as sanitary

sewers or building structural components. However, these items are included if they are
known to have a fairly predictable anticipated useful life that falls within the span of the
projection.
• Normal monthly operating items, i.e., taxes, insurance, snow plowing, utilities, cleaning
and landscape maintenance, etc., are typically not funded by the reserve account.

Disclaimer

This Reserve Study was prepared specifically for Whisper Canyon Homeowners Association. The
information contained within this document has been assembled in conjunction with the client
and is intended to assist the client with its reserve planning and funding. Bornengineering has
performed visual site observations of the project to identify components and action items. These
observations are non-invasive in nature and do not include any testing, verification of the
original intent of the designer, or compliance with industry standards. Bornengineering does not
guarantee, either explicitly or implied, that all repair and replacement items have been
identified, the accuracy of the probable costs or the product lives associated with these items.

In providing the opinions of probable replacement costs, the client understands that
Bornengineering has no control over costs or the price of labor, equipment or materials, or over
the contractor’s method of pricing, and that the opinions of probable replacement costs
provided herein are made on the basis of Bornengineering’s qualifications and experience.
Bornengineering makes no warranty, expressed or implied, as to the accuracy of such opinions
as compared to bid or actual costs.

All comments made are based on conditions seen at the time of this visual observation. We do
not accept any responsibility for unknown or unknowable conditions within the existing site or
structures.

Bornengineering
PAGE 3

If you have any questions regarding this report, please do not hesitate to contact our office.
Sincerely,
Bornengineering
Neil L. Mekelburg, P.E., R.S.
Principal

Bornengineering
PAGE 4

Reserve Study Component Report

A. Topography and Grading
A1. Site Grading and Drainage

Location: At the two community entrances and throughout the individual lots in the community.
Description: The surface drainage and grading of the common-area portions of the site, primarily
at the two entrances, do not require significant maintenance due to the use of natural surface slope
and drainage paths in the development of these areas. The ground-surface areas of the individual
lots in the community do play a significant role in the effectiveness of the roadway drainage. Lots
sloping up from the asphalt roadways must control erosion associated with surface drainage, in
order to maintain flow in the concrete gutters and into the storm sewer inlet. Lots sloping down
from the asphalt roadways must control surface drainage and erosion in a manner sufficient to
maintain the stability of the earth supporting the roadway.
Condition: Good to fair condition. We noted some landscaping and active landscaping projects at
individual lots where erosion and poor landscaping maintenance has allowed debris to flow over the
concrete curb and into the concrete gutter, thus inhibiting flow.
Age: 10 years old.
Expected Useful Life: Indefinite.
Effective Useful Life: Indefinite.
Action(s):
• Cyclically check and clean debris from the concrete gutters and drainage inlets every year, to

ensure proper flow of the surface storm drainage. The cost associated with this action is not
included in the Study because normally associations perform this as a maintenance item and the
cost is considered an operating expense.
• We recommend monitoring and addressing individual lots where owners have modified their
landscaping in a manner inappropriate for the effectiveness of the community drainage as a
whole. The cost associated with this action is not included in the Study because normally
associations perform this as a maintenance item and the cost is considered an operating
expense.

Bornengineering
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B. Paving
B1. Asphalt Drive

Location: Throughout the community.
Description: From information given to us by community representatives during our site visit and
from evidence gathered on site, we believe the asphalt received a number of full-depth patches
located at the penetrations of the underground water and sewer vaults shortly after the initial
asphalt installation and before the community was completed.
Condition: Good to fair condition. Overall the asphalt is in good condition, with little deterioration
or surface cracking. At the locations of the full-depth patches, above the water and sewer vaults,
there is major cracking and separation of the asphalt that extends completely through the asphalt
and to the grade below. Average crack width was 3/4 inch to 1 inch, with a maximum crack width
in one location of 2 inches.
Age: 10 years old.
Expected Useful Life: 20 to 30 years, with cyclical maintenance.
Effective Useful Life: 10 to 20 years. Eventually, the asphalt will reach the end of its useful life
and will need to be replaced.
Action(s):
• Repair the asphalt using infrared patching in 2010. We were provided a budget for this action

by the Association.
• Seal coat and crack fill the asphalt surface in 2011. We were provided a budget for this action

by the Association.
• Crack fill and seal coat the asphalt surface with a polymer-modified product in 2014. We were

provided a budget for this action by the Association.
• Cape-seal the asphalt surface in 2017. We were provided a budget for this action by the

Association.
• Cyclically seal coat and crack fill the asphalt surface every 3 years, starting in 2020. We were

provided a budget for this action by the Association.

Bornengineering
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C. Flatwork
C1. Concrete Walkways

Location: In front of the mail kiosk structures at each of the community’s entrances.
Description: The walkways are presumed to be on-grade, non-reinforced, colored and stamped
concrete slabs. There are control joints that appear to be cut into the top one inch of the slab
approximately every 48 inches.
Condition: Good condition with no major cracking or deterioration noted. In future replacements,
we recommend pouring the slab with its own clean and straight edge, as opposed to mating the
edge of the concrete to the adjacent and crumbled concrete curb (see bottom photo). By properly
terminating the edge of each component, concrete slab and adjacent concrete curb, and sealing
any indifference between the two, future sectional replacements can occur more easily and
attractively without consideration of the adjacent material or components.
Age: 10 years old.
Expected Useful Life: 20 to 30 years. Typically we recommend cyclical sectional replacement,
but due to the small quantity of concrete and the minimal cracking and displacement note, we are
recommending complete replacement at the end of the concrete’s life.
Effective Useful Life: 10 to 20 years.
Action(s):
• Cyclically remove and replace the concrete walkways every 25 years, starting in 2026.
• Inspect the surface and repair any cracks or deteriorating concrete walkways every year. This

cost is not included in the Study because normally associations perform this as a maintenance
item and the cost is considered an operating expense.

Bornengineering
PAGE 7

C2. Curb and Gutter

Location: Throughout the community adjacent to the asphalt pavement.
Description: There are two different styles of concrete curb and gutter in the community. There
are 6-inch tall curbs with 12-inch deep gutters at the two landscaped islands at each entrance to
the community. The remaining curb and gutter throughout the community consists of mountable 4-
inch tall curbs with 24-inch deep gutters.
Condition: Fair condition. The leading edges of the concrete curbs, where contacting the asphalt,
are considerably chipped, cracked and damaged, and appear to have been so since their initial
installation. Various locations of the curb and gutter are cracked and displaced.
Age: 10 years old.
Expected Useful Life: 30 to 40 years. We recommend cyclically sectional replacement as
opposed to complete replacement.
Effective Useful Life: Cyclical sectional replacement.
Action(s):
• Cyclically remove and replace damaged sections of the concrete curb and gutter every 6 years,

starting in 2011. This work should be performed prior to the asphalt crack fill and seal coat
work occurring on the same schedule.
• Inspect the surface and repair any cracks or deteriorating concrete curbs every year. This cost is
not included in the Study because normally associations perform this as a maintenance item and
the cost is considered an operating expense.

Bornengineering
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D. Landscaping and Appurtenances
D1. Entrance Monuments

Location: At the entrances to the community.
Description: 10- to 12-inch diameter log posts, approximately 5-feet high, with two horizontal
wood members supporting decorative font, metal lettering. The wood is coated in a heavily-
pigmented stain.
Condition: Good condition.
Age: 10 years old.
Expected Useful Life: 20 to 25 years, with staining every 3 years.
Effective Useful Life: 10 to 15 years.
Action(s):
• Cyclically stain the entrance monuments every 5 years, starting in 2011. The cost associated

with this action is included in the fence staining budgeted under component D7 of this study.
• Remove and replace the entrance monuments in 2026.

Bornengineering
PAGE 9

D2. Community Signs

Location: Throughout the community
Description: The majority of the signs in the community are wood with raised wood lettering
supported by 4 x 6 and 4 x 4 wood posts embedded into the earth.
Condition: Good condition.
Age: 10 years old.
Expected Useful Life: Typically building signage is updated every 15 to 20 years, if maintained
properly.
Effective Useful Life: 5 to 10 years.
Action(s):
• Remove and replace the community signs in 2021.

Bornengineering
PAGE 10

D3. Rock Walls

Location: In the landscaping along Buffalo Trail and at the community entrances.
Description: There are three different styles of natural rock wall. The two landscaped islands at
the community entrances are bordered in an angled, smooth-faced rock wall design. These walls
appear to be dry-stacked and without drainage at the retained earth behind the wall. The walls
adjacent to the entrance gates appear to be gravity supported, yet possibly adhered to a CMU
structure supported by a spread footing. This wall is decorative in nature and does not retain earth
for the majority of its length, other than a small section at the northern entrance gates. Most of the
walls in the community are of the third type, dry-stacked, natural rock retaining walls. These walls
generally do not exceed two-feet in height. We noted some evidence of materials in the wall for
providing drainage in the soil retained behind the wall.
Condition: Good condition. We noted some displacement and damage to the top courses of the
dry-stacked walls, as is typical for the construction method.
Age: 10 years old.
Expected Useful Life: Indefinite, depending on the design of the wall and the stability of the
supporting and adjacent soil.
Effective Useful Life: 40+ years, with maintenance.
Action(s):
• Cyclically repair the wall every year, where dry-stacked rocks have shifted, collapsed or been

displaced, starting in 2011. The cost associated with this action is not included in the Study
because normally associations perform this as a maintenance item and the cost is considered an
operating expense.

Bornengineering
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D4. Vehicular Entrance Gates

Location: At each entry to the community.
Description: Metal gate assemblies with vertical wood elements. Each gate section projects
approximately 12 feet from the hinges. We were informed that the hinges at the south gate had
recently been replaced with oiled hinges and the hinges at the north gate were re-welded
approximately 3 years ago.
Condition: Good condition.
Age: 10 years old.
Expected Useful Life: 20 to 30 years, depending on frequency of use and aesthetic preferences.
Effective Useful Life: 10 to 20 years.
Action(s):
• Cyclically scrape, rust proof, paint and make minor repairs to the gates every 5 years, starting in

2011.
• Remove and replace the entrance gates in 2026.

Bornengineering
PAGE 12

D5. Vehicular Entrance Gate Operators

Location: At each vehicular entrance gate.
Description: There are four gate operators by Elite, each with 1/2 hp motors. Each gate assembly
is provided a Door King DKS keypad, security console. We were informed that an electromagnetic
loop is located in the asphalt behind each gate for automatic-exiting operation.
Condition: The security keypads and door operators appeared to be in satisfactory condition. We
noted the cover to the operator mechanism was missing on one of the operators.
Age: 10 years old.
Expected Useful Life:
• Security keypad consoles – 15 to 18 years.
• Gate operators – 15 to 20 years, with 5-year motor replacements.
Effective Useful Life:
• Security keypad consoles – 5 to 8 years.
• Gate operators – 5 to 10 years.
Action(s):
• Cyclically remove and replace a portion of the gate operator motors every 5 years, starting in

2011.
• Remove and replace the gate operators in 2016.
• Remove and replace the keypad security consoles in 2018.

Bornengineering
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D6. Flagstone Pathway

Location: At each entrance vehicular gate.
Description: Flagstone pathway supported on grade with grouted joints.
Condition: Good condition.
Age: 10 years old.
Expected Useful Life: Indefinite, depending on frequency of use and stability of supporting earth.
Effective Useful Life: Indefinite.
Action(s):
• Cyclically repair the grouted joints and damaged stone every year starting in 2011. The cost

associated with this action is not included in the Study because normally associations perform
this as a maintenance item and the cost is considered an operating expense.

Bornengineering
PAGE 14

D7. Two-Rail Fence

Location: Along the edge of the community, adjacent to Buffalo Trail and the community to the
north.
Description: The fence is a two-rail fence with 10- to 12-inch diameter natural log posts. The
rough-sawn 2x8 horizontal rails are secured to the posts with a single lag screw at each end. The
fence is coated in a highly-pigmented stain.
Condition: Good to fair condition. We noted some peeling stain along the top edges of the
horizontal rails and some splitting at the fastener locations.
Age: 10 years old.
Expected Useful Life: 20 to 25 years.
Effective Useful Life: 10 to 15 years.
Action(s):
• Cyclically stain the fence every 5 years, starting in 2011.
• Remove and replace the fence in 2026.

Bornengineering
PAGE 15

D8. Lighting Units

Location: In the landscaped islands and landscaping adjacent the monument signs at the
entrances to the community.
Description: Heavy, cast-iron, 120V landscape lighting by Kim.
Condition: Good to fair condition. We were informed that the lights are not favored by the
community and cost approximately $800 each to replace.
Age: 10 years old.
Expected Useful Life: 15 to 25 years, depending on frequency of use and aesthetic preferences.
Effective Useful Life: We were informed that the community is interested in replacing the lights
with low-voltage lighting.
Action(s):
• Remove and replace the landscape lighting with two low-voltage systems in 2013.

Bornengineering
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D9. Mailbox Kiosks

Location: At each entrance to the community.
Description: CMU structures with adhered, natural stone veneer. There is a rough-timber roof
structure with a corrugated metal panel roof covering. The architectural style of the kiosks is rustic
construction. There are 8 metal mailbox clusters by Auth-Florence of varying styles and box
arrangements.
Condition: Good to fair condition. We noted some warping of the wood materials due to
insufficient fastening, as well as loose and displaced stones.
Age: The structure is 10 years old, with 4-year-old mailbox clusters.
Expected Useful Life:
• Wood portions of structure – 15 to 20 years, with maintenance.
• Mailbox clusters – 20 to 25 years.
Effective Useful Life:
• Wood portions of structure – 5 to 10 years, with maintenance.
• Mailbox clusters – 16 to 21 years.
Action(s):
• Cyclically stain the wood elements 5 years, starting in 2011. The cost associated with this

action is included in the fence staining budgeted under component D7 of this study.
• Remove and replace the mailbox clusters in 2032. The life expectancy of the mailbox clusters

should exceed the term of this Study.

Bornengineering
PAGE 17

D10. Vegetation

Location: Throughout the landscaped common areas along Buffalo Trail and at the community
entrances.
Description: Various species of trees and shrubs.
Condition: Good condition. The majority of the vegetation is well established.
Age: Varies.
Expected Useful Life: Indefinite, depending on care and species health.
Effective Useful Life: Varies.
Action(s):
• Remove and replace the diseased or dead trees every 3 years, starting in 2012.

Bornengineering
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D11. Irrigation System

Location: Throughout landscaped common areas.
Description: The irrigation systems are composed of Rain Bird controls, backflow preventers, drip
lines and sprinklers
Condition: Presumed in good condition.
Age: Varies. Irrigation systems are normally repaired as needed and major components are
replaced through reserve funds.
Expected Useful Life: Cyclical replacement.
Effective Useful Life: Cyclical replacement.
Action(s):
• Cyclically replace damaged irrigation system components every 2 years, starting in 2011.

Bornengineering
PAGE 19

Whisper Canyon Homeowners Association
Castle Rock, Colorado

Reserve Component Detail

Description SDeartvei icen
YARRUseeedjeaplfmrusaualitcneimnemgnetnt
Units
CUonistt
CCoursrtent

Asphalt Drive and Parking Areas
Cape seal the asphalt surfaces 2017 2017 1 0 6 1 units 78,665.00 78,665
Crack fill and seal with polymer-modifi.. 2014 2014 1 0 3 1 unit 18,231.00 18,231
Cyclically seal coat and crack fill 2020 2020 3 0 9 1 unit
Infrared patching 2010 2011 1 0 0 1 unit 1,388.00 1,388
Seal coat and crack fill 2011 2011 1 0 0 1 units 672.00 672
Asphalt Drive and Parking Areas - Total
1,388.00 1,388
$100,344

Concrete Walkways 2026 25 0 15 752 square feet 8.00 6,016
$6,016
Remove and replace the concrete walk.. 2001
Concrete Walkways - Total

Curb and Gutter 36,139
$36,139
Cyclically remove and replace damage.. 2011 2011 30 0 0 2,362 linear feet 15.30
Curb and Gutter - Total

Entrance Monuments 2026 25 0 15 2 units 1,000.00 2,000
$2,000
Remove and replace the entrance mon.. 2001
Entrance Monuments - Total

Community Signs 2001 2021 20 0 10 1 unit 2,020.00 2,020
$2,020
Remove and replace community signs
Community Signs - Total

Vehicular Entrance Gates unfunded
Cyclically scrape, rust proof, paint and ..
Remove and replace the vehicular gates 2001 2026 25 0 15 2 units 2,300.00 4,600
Vehicular Entrance Gates - Total $4,600

Vehicular Entrance Gate Operators 2 units 1,400
Remove and replace a portion of the m.. 2001 2011 5 0 0 4 units 700.00 8,800
Remove and replace the operators 2001 2016 15 0 5 2 units 2,200.00 5,200
Remove and replace the security keyp.. 2001 2018 17 0 7 2,600.00 $15,400
Vehicular Entrance Gate Operators - Total

Flagstone Pathway

Two-Rail Fence 2006 2011 5 0 0 2,112 linear feet 3.50 7,392
2001 2026 25 0 15 2,060 linear feet 14.00 28,840
Cyclically stain the fence $36,232
Remove and replace the fence

Two-Rail Fence - Total

Bornengineering
PAGE 20

Whisper Canyon Homeowners Association
Castle Rock, Colorado

Reserve Component Detail

SDeartvei icen
YARRUseeedjeaplfmrusaualitcneimnemgnetnt
Units
CUonistt
CCoursrtent
Description
Lighting Units 2013 20 02 2 units 2,500.00 5,000
2032 25 0 21 $5,000
Replace the landscape lighting with lo.. 2013 2012 3 01
Lighting Units - Total 2011 2 00

Mailbox Kiosks 8 units 800.00 6,400
$6,400
Remove and replace the mailbox cluste.. 2007
Mailbox Kiosks - Total

Vegetation 2012 1 unit 1,500.00 1,500
$1,500
Remove and replace dead vegetation
Vegetation - Total

Irrigation System 1 unit 1,000.00 1,000
$1,000
Cyclically replace damaged irrigation sy.. 2011
Irrigation System - Total

Total Asset Summary $216,651

Bornengineering
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Whisper Canyon Homeowners Association
Castle Rock, Colorado

Reserve Study Annual Expenditure Spread Sheet

Description 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Asphalt Drive and Parking Areas
672 19,922 93,930 6,395 1,811
Cape seal the asphalt surfaces 1,388 19,922 93,930 6,395 1,811
Crack fill and seal with polymer-modifi.. 2,060 43,151
Cyclically seal coat and crack fill 43,151
Infrared patching
Seal coat and crack fill 10,202
Asphalt Drive and Parking Areas Total: 10,202

Concrete Walkways

Remove and replace the concrete walk..
Concrete Walkways Total:

Curb and Gutter 36,139
36,139
Cyclically remove and replace damage..
Curb and Gutter Total:

Entrance Monuments

Remove and replace the entrance mon..
Entrance Monuments Total:

Community Signs

Remove and replace community signs
Community Signs Total:

Vehicular Entrance Gates unfunded

Cyclically scrape, rust proof, paint and ..
Remove and replace the vehicular gates
Vehicular Entrance Gates Total:

Vehicular Entrance Gate Operators 1,400
1,400
Remove and replace a portion of the m..
Remove and replace the operators
Remove and replace the security keyp..
Vehicular Entrance Gate Operators Total:

Bornengineering
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Description Whisper Canyon Homeowners Association 2018 2019 2020
Two-Rail Fence Castle Rock, Colorado

Cyclically stain the fence Reserve Study Annual Expenditure Spread Sheet
Remove and replace the fence 2011 2012 2013 2014 2015 2016 2017
Two-Rail Fence Total:
7,392 8,569
Lighting Units 7,392 8,569

Replace the landscape lighting with lo.. 5,304
Lighting Units Total: 5,304

Mailbox Kiosks 1,545 1,688 1,845
1,545 1,688 1,845
Remove and replace the mailbox cluste..
1,000 1,545 1,061 19,922 1,126 1,194 8,240 1,267 1,811
Vegetation 1,000 1,061 1,126 1,194 1,267

Remove and replace dead vegetation 47,991 6,365 2,814 18,771 138,276 1,267
Vegetation Total:

Irrigation System

Cyclically replace damaged irrigation sy..
Irrigation System Total:

Year Total:

Bornengineering
PAGE 23

Whisper Canyon Homeowners Association
Castle Rock, Colorado

Reserve Study Annual Expenditure Spread Sheet

Description 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Asphalt Drive and Parking Areas
1,979 2,162 2,363
Cape seal the asphalt surfaces 1,979 2,162 2,363
Crack fill and seal with polymer-modifi.. 9,373
Cyclically seal coat and crack fill 51,525 9,373 61,524
Infrared patching 51,525 61,524
Seal coat and crack fill 3,116
Asphalt Drive and Parking Areas Total: 3,116

Concrete Walkways 7,167
7,167
Remove and replace the concrete walk.. 2,181
Concrete Walkways Total: 2,181

Curb and Gutter

Cyclically remove and replace damage..
Curb and Gutter Total:

Entrance Monuments

Remove and replace the entrance mon..
Entrance Monuments Total:

Community Signs 2,715
2,715
Remove and replace community signs
Community Signs Total:

Vehicular Entrance Gates unfunded

Cyclically scrape, rust proof, paint and ..
Remove and replace the vehicular gates
Vehicular Entrance Gates Total:

Vehicular Entrance Gate Operators 1,881
1,881
Remove and replace a portion of the m..
Remove and replace the operators
Remove and replace the security keyp..
Vehicular Entrance Gate Operators Total:

Bornengineering
PAGE 24

Description Whisper Canyon Homeowners Association 2028 2029 2030
Two-Rail Fence Castle Rock, Colorado

Cyclically stain the fence Reserve Study Annual Expenditure Spread Sheet
Remove and replace the fence 2021 2022 2023 2024 2025 2026 2027
Two-Rail Fence Total:
9,934 44,932
Lighting Units 9,934 44,932

Replace the landscape lighting with lo.. 2,016 2,203 2,407 2,630
Lighting Units Total: 2,016 2,203 2,407 2,630

Mailbox Kiosks 1,344 1,426 2,203 1,513 68,931 1,605 1,702 2,630
1,344 1,426 1,513 1,605 1,702
Remove and replace the mailbox cluste..
17,890 54,930 1,513 4,012 65,589
Vegetation

Remove and replace dead vegetation
Vegetation Total:

Irrigation System

Cyclically replace damaged irrigation sy..
Irrigation System Total:

Year Total:

Bornengineering
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Whisper Canyon Homeowners Association
Reserve Study Annual Expenditure Detail

Description Expenditures

Replacement Year 2011

Asphalt Drive and Parking Areas 672
Infrared patching 1,388
Seal coat and crack fill

Curb and Gutter 36,139
Cyclically remove and replace damaged sections

Vehicular Entrance Gate Operators 1,400
Remove and replace a portion of the motors in the gate op..

Two-Rail Fence 7,392
Cyclically stain the fence

Irrigation System 1,000
Cyclically replace damaged irrigation system components

Total for 2011 $47,991

Replacement Year 2012 1,545
Vegetation $1,545

Remove and replace dead vegetation

Total for 2012

Replacement Year 2013 5,304
Lighting Units
1,061
Replace the landscape lighting with low-voltage systems $6,365
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2013

Replacement Year 2014 19,922
Asphalt Drive and Parking Areas $19,922

Crack fill and seal with polymer-modified coating

Total for 2014

Replacement Year 2015 1,688
Vegetation
1,126
Remove and replace dead vegetation $2,814
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2015

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Whisper Canyon Homeowners Association
Reserve Study Annual Expenditure Detail

Description Expenditures

Replacement Year 2016 10,202
Vehicular Entrance Gate Operators
8,569
Remove and replace the operators $18,771
Two-Rail Fence

Cyclically stain the fence

Total for 2016

Replacement Year 2017 93,930
Asphalt Drive and Parking Areas
43,151
Cape seal the asphalt surfaces
Curb and Gutter 1,194
$138,276
Cyclically remove and replace damaged sections
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2017

Replacement Year 2018 6,395
Vehicular Entrance Gate Operators
1,845
Remove and replace the security keypad consoles $8,240
Vegetation

Remove and replace dead vegetation

Total for 2018

Replacement Year 2019 1,267
Irrigation System $1,267

Cyclically replace damaged irrigation system components

Total for 2019

Replacement Year 2020 1,811
Asphalt Drive and Parking Areas $1,811

Cyclically seal coat and crack fill

Total for 2020

Replacement Year 2021 2,715
Community Signs

Remove and replace community signs

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Whisper Canyon Homeowners Association
Reserve Study Annual Expenditure Detail

Description Expenditures

Replacement Year 2021 continued...

Vehicular Entrance Gate Operators 1,881
Remove and replace a portion of the motors in the gate op..

Two-Rail Fence 9,934
Cyclically stain the fence

Vegetation 2,016
Remove and replace dead vegetation

Irrigation System 1,344
Cyclically replace damaged irrigation system components

Total for 2021 $17,890

No Replacement in 2022

Replacement Year 2023 1,979
Asphalt Drive and Parking Areas
51,525
Cyclically seal coat and crack fill
Curb and Gutter 1,426
$54,930
Cyclically remove and replace damaged sections
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2023

Replacement Year 2024 2,203
Vegetation $2,203

Remove and replace dead vegetation

Total for 2024

Replacement Year 2025 1,513
Irrigation System $1,513

Cyclically replace damaged irrigation system components

Total for 2025

Replacement Year 2026 2,162
Asphalt Drive and Parking Areas

Cyclically seal coat and crack fill

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Whisper Canyon Homeowners Association
Reserve Study Annual Expenditure Detail

Description Expenditures

Replacement Year 2026 continued...

Concrete Walkways 9,373
Remove and replace the concrete walkways

Entrance Monuments 3,116
Remove and replace the entrance monuments

Vehicular Entrance Gates 7,167
Remove and replace the vehicular gates

Vehicular Entrance Gate Operators 2,181
Remove and replace a portion of the motors in the gate op..

Two-Rail Fence 44,932
Remove and replace the fence

Total for 2026 $68,931

Replacement Year 2027 2,407
Vegetation
1,605
Remove and replace dead vegetation $4,012
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2027

No Replacement in 2028

Replacement Year 2029 2,363
Asphalt Drive and Parking Areas
61,524
Cyclically seal coat and crack fill
Curb and Gutter 1,702
$65,589
Cyclically remove and replace damaged sections
Irrigation System

Cyclically replace damaged irrigation system components

Total for 2029

Replacement Year 2030 2,630
Vegetation $2,630

Remove and replace dead vegetation

Total for 2030

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