Over the next few months, the Executive Board will be considering options to address issues with the roads and sidewalks in Meadow Hill. Last year, we evaluated options and methods for roadwork and obtained bids from several contractors. At that time, we chose to wait and build up reserves before proceeding.
You will note marks on some sidewalks indicating some areas that we are considering replacing. We are soliciting bids so that we can understand the associated costs, to realistically estimate the financial implications of addressing the sidewalks in various ways.
From past bids, we have a realistic basis for projecting the costs of doing all or portions of the roads. We are tentatively considering planning and soliciting bids for substantial road improvements in 2013. It will take most of the remainder of this year to plan such a project, present our direction to unit owners, and provide owners with ample opportunity to ask questions, provide feedback, and vote on our recommendations for going forward.
In developing our recommendations, our priorities will be focused on addressing any potential hazards, while enhancing the long-term value and the experience of Meadow Hill, while also maintaining a comfortable minimum level of projected reserves.