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3 1.The majority of residents are definitely not interested in having the amenities proposed by the Board of Supervisors built in the South Fork East community. 2.The cost of the project and the subsequent increase in CDD fees are the main reasons respondents were not interested in the amenities. Net, residents do not see the value the proposed amenities will add to their community. 3.The most common response when asked what they like about the proposed amenities is “nothing”. 4.The fitness center is the most appealing of the proposed amenities. Some participants believe a fitness center would help boost their health. 5.New playground equipment and a pickleball court are the least appealing of the proposed amenities. 6.The average annual amount that respondents are willing to pay for the proposed amenities is $ The majority of the respondents are satisfied with the maintenance of the current amenities within the community. 8.Over 80% of the respondents desire to see the current bonds paid off before additional debt is incurred. 9.Many residents believe the current CDD is too high. Some express concerns with being able to afford their home and its resale value if the CDD is increased. 10.A few believe the current amenities are not sufficient or comparable to other developments. 1.The majority of residents are definitely not interested in having the amenities proposed by the Board of Supervisors built in the South Fork East community. 2.The cost of the project and the subsequent increase in CDD fees are the main reasons respondents were not interested in the amenities. Net, residents do not see the value the proposed amenities will add to their community. 3.The most common response when asked what they like about the proposed amenities is “nothing”. 4.The fitness center is the most appealing of the proposed amenities. Some participants believe a fitness center would help boost their health. 5.New playground equipment and a pickleball court are the least appealing of the proposed amenities. 6.The average annual amount that respondents are willing to pay for the proposed amenities is $ The majority of the respondents are satisfied with the maintenance of the current amenities within the community. 8.Over 80% of the respondents desire to see the current bonds paid off before additional debt is incurred. 9.Many residents believe the current CDD is too high. Some express concerns with being able to afford their home and its resale value if the CDD is increased. 10.A few believe the current amenities are not sufficient or comparable to other developments. TAKEAWA YS
Citation preview
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South Fork EastFinal Report December 28, 2015Kevin Nobles
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BackgroundMeritus Corp. seeks to conduct a survey among the homeowners in a Riverview community they manage to explore the interest and support of additional amenities within the community. The results from the survey will be used to provide guidance to the community’s Board of Supervisors.
Objectives• Assess the interest among South Fork East residents for new amenities within their community• Determine the relative appeal of the proposed amenities• Identify the annual amount residents would be willing to pay for the additional amenities
Facts of the Study• Homeowners, builders and real estate investors in the South Fork East Community were given
access to the online survey from November 9 – December 13, 2015.• Postcards were mailed out to residents informing them of how to access the survey. • 184 respondents accessed the survey with 150 completing all of the questions.
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1. The majority of residents are definitely not interested in having the amenities proposed by the Board of Supervisors built in the South Fork East community.
2. The cost of the project and the subsequent increase in CDD fees are the main reasons respondents were not interested in the amenities. Net, residents do not see the value the proposed amenities will add to their community.
3. The most common response when asked what they like about the proposed amenities is “nothing”.
4. The fitness center is the most appealing of the proposed amenities. Some participants believe a fitness center would help boost their health.
5. New playground equipment and a pickleball court are the least appealing of the proposed amenities.
6. The average annual amount that respondents are willing to pay for the proposed amenities is $118.
7. The majority of the respondents are satisfied with the maintenance of the current amenities within the community.
8. Over 80% of the respondents desire to see the current bonds paid off before additional debt is incurred.
9. Many residents believe the current CDD is too high. Some express concerns with being able to afford their home and its resale value if the CDD is increased.
10. A few believe the current amenities are not sufficient or comparable to other developments.
TAKEAWAYS
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Implications & Recommendations
Implications• An overwhelming majority of residents are not in favor of building the proposed amenities in the
South Fork East Community. The cost of the project is seen as too high, resulting in higher CDD payments.
• The fitness center is the most appealing amenity as some residents believe additional fitness equipment would be beneficial to them.
• In general, the community is satisfied with current maintenance of existing amenities.
Recommendations• The Board of Supervisors for the South Fork East Community should not pursue building the
amenities as proposed.
• Should the Board of Supervisors seek to improve the amenities in the future it should consider fitness related improvements as this was the most appealing amenity.
• The Board of Supervisors should also seek to pay off existing bonds before incurring additional debt.
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Who are the participants?
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All participants in the study are homeowners in the South Fork East community. The majority of the respondent have lived in the community for at least 4 years.
Current R
esident
Not Curre
nt Resid
ent
Builder
Inve
stor
020406080
100120140160180200
Number of Responses
Number of Responses
Length of Time Been A SFE Homeowner
Less than 1 Year (13%)1-3 Years (23%)4-6 years (25%)6 years or more (39%)
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Every subdivision had a least one respondent with the exception of the Enclave.
Cordova
Enclave
Flagst
one
Highlan
d
Ibis Cove
Sava
nnah
Stillw
ater
The Reserve
Windrose05
1015202530354045
Responses by Subdivision
Responses by Subdivision
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What did we learn?
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Two-thirds of the respondents are “definitely not interested” in having the proposed amenities built in the South Fork East community.
Definitely
Interested (1
1%)
Probably
Interested (7
%)
Neutral (6
%)
Probably
Not Intereste
d (9%)
Definitely
Not Intereste
d (66%)
010203040506070
Interest Level in New Amenities
Interest Level in New Amenities
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The cost of the project (potentially resulting in an increase in CDD fees) is the primary reason for being opposed to the proposed amenities.
Cost
Dislike
Everyt
hing
What is p
ickelball
?
Not need
Not use
Other (25 ca
tegorie
s)0
10
20
30
40
50
60
Number of Responses
Number of Responses
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“The cost is not worth it. What happens to the area that has the playground once the equipment is moved?”
“The new amenities are nice in theory, but our current CDD rates are too high. Nothing proposed is worth making them even more expensive.”
“If folks want a fitness center, let them join a gym. I am already paying for current amenities and don’t even use them. I don’t want to pay for something I will never use.”
“I don’t want a smaller pool. My husband and I do laps several times a week. The style of the new pool does not allow for that.”
“We do not wish to pay more than we already do and feel it will hurt resale when our CDD / HOA is even higher than it is now.”
Negative Comments
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When asked what they like about the proposed amenities, “nothing” is the most common response followed by the fitness center.
Nothing
Fitness
Center
Large
r Pool
Community M
eeting Space
Tennis Court
Other (26 ca
tegorie
s)0
10203040
Number of Responses
Number of Responses
Given that “nothing” is the most common response for what is liked about the proposed amenities, this further underscores the lack of support for the project.
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“Fitness center if done correctly would be something most residents could use. If done correctly. I pay $32 monthly for a membership.”
“Would be good to have more things to do in the community”
“Nothing. We moved here with the current amenities as is. We’re good with no additional amenities / changes.”
“A real clubhouse, fitness center, tennis courts and shaded playground.”“It gives residents more options
and will potentially build a better sense of community and pride in ownership. Having a fitness facility is wonderful.”
Positive Comments
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The fitness center is the amenity with the most interest. Pickleball and new playground equipment are the least appealing.
Amenities Center
Fitness Center
Swimming Pool
Tennis Court
Pickle-ball Courts
Basket-ball Court
Relocate Playground Equipment
Relocate Community Park Equipment
New Playground Equipment
AverageRankOrder
5.88 2.39 5.15 4.24 6.23 4.68 4.66 5.16 6.61
Amenities Center
Fitness Center
Swimming Pool
Tennis Court
Pickle-ball Courts
Basket-ball Court
Relocate Playground Equipment
Relocate Community Park Equipment
New Playground Equipment
AverageLevel of Interest
3.79 3.06 3.70 3.91 4.39 3.83 3.88 3.79 4.09
Rank order amenities from most appealing to least appealing; n = 118
Rate level of interest (1=very interested, 5=very uninterested) ; n = 150
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The average amount residents are willing to pay for the amenities is $118 annually.
N = 148 Average Minimum Maximum
Proposed Amenities
$118.29 $0.00 $601.00
The average cost respondents are willing to pay is far below the estimated cost of $500. Exploring lower cost amenities or ways to lower the cost of the project could boost support for additional amenities.
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Residents overwhelmingly desire to see current bonds paid off before the community takes on additional debt.
Yes (84%) No (16%)0
102030405060708090
Percentage Wishing to Pay Off Existing Bonds
Percentage Wishing to Pay Off Existing Bonds
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The majority of participants express positive to neutral satisfaction with the maintenance of current amenities.
Very Sa
tisfied (1
0%)
Satisfi
ed (35%)
Neutral (3
5%)
Unsatisfi
ed (8%)
Very Unsati
sfied (1
1%)0
10
20
30
40
Satisfaction with Maintenance of Current Amenities
Satisfaction with Main-tenance of Current Amenities
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“I purchased here in 2007 knowing what amenities were in place. I don’t use the ones now and don’t have any desire to pay for more that we won’t use.”
“The fact that this could potentially make our already high CDD fees even more expensive is ridiculous. Where does the money that we already pay go? Why are other communities able to have all of this and pay LESS than us?”
“I feel as if South Fork East needs more amenities as it is growing / expanding and lacking common amenities such as tennis courts and fitness center compared to other similar planned developments.”
“This proposed project has never been justified. There is not substantial reason to take on the project other than to keep up with the joneses. We already have the highest CDD in the area with the least amenities. This project will raise fees far above others and will still not have equal amenities which will result in a drop of home values.”
Additional Comments
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Appendix
Positive Comments Negative Comments Additional Comments
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Contact Information
Kevin Nobles, President
Phone: 813.977.7700Fax: 813.971.0346Email: [email protected]