The road project is proposed to begin late-2016 and continue over a period of several years. Based on current Florida State Statutes, and the direction of the CPA audit performed in 2014, we must adopt a comprehensive Road Reserve Plan that accounts for how our Road Reserves will be used currently and in the future
This proposed plan is designed to address the needed drainage repairs and road repaving throughout the Valley without the need for any additional assessments for MVRIA homeowner members. The project will be divided into two parts Primary Roads and Secondary Roads. Each part will have multiple phases that will be completed over several years.
Primary Roads: Myakka Valley Trail from the bend at the nursery to the Bridge including an overlay from State Road 72 to the Arch - 2.9 miles. The remaining Primary Road Phases will be significantly less money to complete based on shorter lengths of road and less drainage issues. Old Ranch Road from Myakka Valley Trail to Sheps Island Road 1.3 miles Myakka Valley Trail from the bridge to Combee Lane 1 mile Total of 4.9 miles of Primary Roads The Cell Tower company has pledged to repave our road from the Archway to the Nursery (approximately $65,000 savings).
Our two reserve accounts are projected to have a total of $305,000 by mid-year 2016 to begin Phase 1, and an approximately $70,000 from the 2017/2018 Road Reserves to complete the entire Phase 1 of the road project. Breakdown of Funds: $64,191 - Future Road Reserve March-2016 $131,729 - Road Reserve March-2016 $40,000-1997-2015 Road Assessment Case Settlement March-2016 $69,720 2016/2017 Annual Assessment for Road Reserve Mid-2016 $305,640 + $69,720 2017/2018 Annual Assessment for Road Reserve Mid-2017 $375,360 Total Funds Available for Phase 1
Myakka Valley Trail from the Bridge Heading South
Myakka Valley Trail and Old Ranch Road Heading South
Myakka Valley Trail and Old Ranch Road Heading South
Myakka Valley Trail Heading South Toward the S - Curve
Myakka Valley Trail Heading South Approaching the S - Curve
Myakka Valley Trail and Singletree Trail Facing East
Myakka Valley Trail and Singletree Trail facing West
Myakka Valley Trail and Howard Creek Road Facing West
Myakka Valley Trail and Vanderipe Road facing West
Myakka Valley Trail at the Curve near the Nursery Facing South
Myakka Valley Trail at the Curve Near the Nursery Facing South
Myakka Valley Trail at the Curve near the Nursery Facing South
Myakka Valley Trail just outside of the Arch facing South
Myakka Valley Trail and State Road 72 facing South East
Myakka Valley Trail and State Road 72 facing North at entrance
Secondary Roads will be addressed each year through a needs assessment and the repaving will be prioritized as such. In order to maintain Secondary Roads during the execution of the Multi-Phase Comprehensive Road Plan, the Pothole Budget line item will remain in the Operating Budget each year. The Secondary Roads are listed on the next slide
Secondary Roads: Old Ranch Road (from Sheps Island Road to Myakka Valley Trail) Vanderipe Road Howard Creek Road Singletree Trail Sheps Island Road Myakka Valley Trail (from Combee Road to Trails End) Papago Road Kickapoo Road Hupa Road Prairie Junction Trail Country Road Rocking Horse Lane O Bar Road Tucumcari Trail Combee Lane No-Name Road
In summary the project will begin with Phase 1 in late-2016 and be completed in early 2017 using Road Reserves to fund the project without any assessments. There is an option to secure financing of up to $300,000 in order to finish Phase 2 and Phase 3 during the same timeframe as Phase 1. We would receive a better price from a paving company since it would be a much larger project and oil prices are at a historical low. If approved, loan would be paid back with the Future Road Reserves annually for four years.
Once the plan is approved by the membership, the goal will be to execute it over the course of several years. The Board will obtain bids from paving contractors and the winning bidder will provide a contract for our attorney to review prior to signing. If the membership chooses the option that includes financing, our attorney will review the contract prior to signing as well.