Page 16 - VCC 2022 Capital Plan New Binded
P. 16
MEMBER INVESTMENT
Below is the budget for the Capital Project. The funding sources are explained in greater detail on the
following pages and in the Financial Model in Appendix B. The Board is working toward full funding
without additional debt, but such debt, if needed, is part of the ballot on the plan.
Cost Assumptions
Golf Course Renovation Costs $6,622,978
Clubhouse and Tennis Renovation Costs $970,000
Parking, Landscaping, and Irrigation Costs $500,000
Total Uses $8,092,978
Funding Sources
Capital Assessment (One Time) $2,783,500
Centennial Balance $200,000
A Combination Of
20-Year Prepaid Memberships - Voluntary .............................................. $1,200,000
Philanthropic Giving By Members - Voluntary ......................................... $1,500,000
New Debt ................................................................................................. $1,500,000
Total Of Above $4,200,000
Capital Dues (Monthly) $909,478
Total Funding Sources $8,092,978
