Opinion Survey Explanation

If you've attended our HOA Annual Meetings over the past several years, you already know that owners have expressed an interest in constructing a naming “Monument” for our community that would inform visitors of our community’s name and, thereby, create an identity for us. 

As you drive through the City of Tega Cay and surrounding areas you see that many of the individual developments have a “monument” at the entrance which prominently displays the name of the community.  “River Bend” is an example of such a monument along Shoreline Parkway.

A group of Owners met with the HOA Board and made a formal proposal that the Board construct such a monument for our community.

The Board has asked our Property Management Committee (“PMC”) to look into the possibility of constructing such a monument and develop a proposal for the Board to consider.  The PMC is chaired by Chip Nielson and he has accepted responsibility for chairing the project to develop a formal proposal for the Board. 

The project is looking into:
  • Siting – where such a monument could be located and what the City’s ordinances require relative to sign locations
  • Design – what such a sign should look like and whether we want something that mirrors the other monuments in Lake Shore or be of a different design
  • Cost – what would such a monument cost and how it would be funded
  • Contractor – who could create the monument for us
 
Very preliminary estimates of the cost of constructing such a monument are in a wide range with the maximum estimate from one firm being approximately $17,000. 
 
Depending upon whether the HOA uses existing funds or some other method to fund the construction of the monument, if it were to cost the $17,000 (i.e., the maximum preliminary estimate) or a lower cost of $10,000 or $5,000, here are some rough estimates to consider:

Potential Cost One Time Special Assessment / Owner Monthly increase in Dues for 1 Year
$5,000 $61 $6
$10,000 $122 $11
$17,000 $208 $18


Clearly, we don’t know what the monument would actually cost since we don’t have a final design yet.  But, the HOA Board has asked that we obtain input from Owners with regard to the need for such a monument to create an identity for the community; the belief as to whether such a monument would add any tangible value especially considering the cost; and, how should we pay for a monument.
 
This Opinion Survey is designed to obtain input from our owners before the Board makes decisions on how to proceed.
 

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* 1. Please identify yourself.  

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* 2. Please let us know your ownership status.

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* 3. How important is it to you that our community has a monument which displays our community's name?

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* 4. Do you believe that having a community naming monument is worth the investment?  We do not yet know what the cost will be but, we have seen a couple of estimates and we would like your input on what price range you believe might be worth the investment.

  Definitely Worth It Probably Worth It Maybe Worth It Unlikely Worth It Definitely NOT Worth It We should do it - whatever it costs
Total Cost: $5,000 to $9,999
Total Cost: $10,000 to $14,999
Total Cost: $15,000 to $19,999
Total Cost: $20,000 or greater

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* 5. If the HOA constructs a naming monument, the options for funding the project include: (1) using existing available HOA funds and reduce funds available for community maintenance; (2) increase dues for one year to cover the cost of the monument; (3) have a special assessment of all owners to cover the cost; or, (4) split the cost between existing HOA resources and a one time special assessment to the owners.  Please indicate your preference below.

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* 6. If the HOA proceeds with the project, would you be willing to work as part of the project team?

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