Letter: Capital Improvement Project

Citrus Cove HOA

17610 Mandarin Circle

Winter Garden, FL  34787

August 4, 2015

Dear Homeowner:

We have good news concerning the Capital Improvement Project to replace our worn out water holding tank AND a few other Important Updates to share with you.

Capital Improvement Project: Water Tank Replacement

A loan has been secured and funded from the National Rural Water Association in the amount of $30,000.00.   It has a 3% interest rate and is scheduled to be paid off within 10 years, but we will very likely be able to pay it off sooner.

The Finance Committee has chosen Keller Mechanical and Engineering out of Lakeland to do the work of switching out the old tank for a new one, at a cost of $25,112.00.   Keller will also be adding a by-pass system so the tank can be serviced without interruption of service, and a pre-charged expansion tank to help maintain pressure in the system.  There will be an extended water outage of 4 – 8 hours on the day the work is done.  When we have a scheduled date we will give you as much notification as possible so you can be prepared.  It will likely not be until at least the latter half of September.

Capital Improvement Project: Water Protection & General Repairs/Upgrades

Once the new tank is in we will be covering it with a carport structure and also putting up new, more secure fencing around it.   We do not as of yet have those items bid or contracted, but will be doing that soon.  Final plans for improvement are to replace any shut off valves that are frozen, and to replace any of the in-ground meter boxes that are broken or too small to include the shut off valve within them.

Important Update: Property & Officer Insurance Purchased

All Citrus Cove HOA property (Tank Property & “The Pit”) is now insured as are the Officers by Auto Owners Insurance. The liability of this has been a concern for many, so hopefully this will provide some security.

Important Update: Drainage Issues & Irrigation Requirements

Water drainage problems have continued to occur. Finally, Lake County discovered that a key drain line has collapsed and needs repair (Drain along Suburban Terrace). This work should take place soon. To report drainage/road problems, visit CitrusCoveHOA.com. To assist in preventing problems, the County has recommended you do not blow grass/debri into the roads, and to keep your yard edged along the road. Please also remember to ensure you are following the Lake County irrigation requirements on LakeCountyFl.gov.

Sincerely,

Brandon Welch

Citrus Cove HOA President

CitrusCoveHoa.com