Item Cost New roof to address leaking $ 75,000 Temporarily patch the roof to address leaking $ 15,000 Resurface/overlay parking lot and restripe $ 80,000 Seal coat asphalt paving/potholes and restripe $ 20,000 Restrooms in need of paint and décor update $ 5,000/floor Install automatic release locks on stairwell doors due to new code that will go into effect next year $ 15,000 Update of first floor lobby entry and common areas $ 25,000 Repair entry fountain pump (mechanical malfunction) $ 8,600 ADA modifications throughout common area $ 18,000 1. You have been allocated $125,000 capital budget for maintenance this year. How will you spend it? 2. What additional information would you want to know? 3. Justify the choices you made. Why did you choose certain items over others? What is the highest and lowest priority? 4. By choosing those items, what is the impact to the property in terms of the following Issues: 1. Life safety 2. Tenant relations 3. Marketing 5. By not choosing certain items, how did you expose your property? 6. If you felt items were vital that exceeded allowed budget what options might you explore?
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