Budget Box: Capital Projects

One of the greatest responsibilities for The Landings Association is to continuously maintain and improve the current assets and infrastructure that are provided to the community. The Association holds upwards of $60,000,000 in capital assets, which includes roads, storm drains, community paths, bridges, piers, seawalls, docks, vehicles, heavy equipment, and machinery. Throughout the year, numerous projects are performed that involve repairing and replacing capital within our community.

By the end of this year, the Association will have spent a projected $5,111,764 on capital projects. This includes $111,219 in Association capital projects, such as the replacement of computers, cameras, radios, projectors, sound systems, and more. The Association will have spent $355,323 to fund the replacement and restoration of buildings, structures, and equipment. This includes assets such as bridges, electronic signs, heat pumps, security vehicles, both Administration building and Sunset Pavilion repairs, along with other small projects.

The Association also will have invested $889,851 to fund various capital projects at both marinas, such as the dry stack replacement, fuel tank/line replacement, concrete replacement at Landings Harbor, and electrical panels at Delegal Creek Marina. Finally, the estimated spend contains $2,998,433 for the repairs and/or replacement of roads, paths/trails, and storm drains throughout the community.

The above totals include items related to projects that were carried over from 2022, as well as projects budgeted in future years but which were completed in 2023.

The 2023 Capital Expense budget was approved in the amount of $5,206,193. The estimated spend for 2023 is $5,111,764, which is $94,429 less than the budget. Finally, the 2024 Capital Expense budget of $4,925,672 is scheduled to be approved by the Board of Directors on December 19, 2023. It’s money well spent to maintain and improve our 51-years-old community.