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May 2017 October 20175
Supplemental Assessment ( Continued From Previous Page )
Chair Singer notes , “ KICA is fortunate to have the professional , dedicated staff it does . They worked 12-15 hours days , seven days a week , before , during , and after both storms , placing Kiawah above their personal home situations . Property owners who were not on-island immediately after the storms , returned to find little visible damage , hiding the significant amount of work done by our staff . Several property owners anonymously expressed their appreciation by having wristbands ( see photo above ) made for all employees , which say ‘ Irma 2017 - I ’ m Appreciated ,’ The other side reads , “ Thanks for all your hard work .” On behalf of the board , I want to thank whomever organized this . It is well deserved and appropriately reflects the sincere appreciation felt by the board and the community .
Recovery Expense Break Down Due to the annual agreements with area contractors and specialists , KICA was able to quickly determine recovery costs . During and immediately post-storm , additional conversations occurred to discuss the specific services required .
The cost breakdown for recovery expenses is as follows :
• Landscape clean-up including tree companies , thirdparty landscape crews , debris removal , vacuum truck for storm drains , KICA staff overtime , supplies , and bridge inspections : $ 273,000
• Landscape mitigation including replacement of shortedout irrigation controllers , plants , turf and pine straw : $ 124,000
• Pond mitigation including aerator repairs and replacement , pond edge erosion control at washouts , fish restocking , and
mosquito abatement ( associated with standing storm water and the wash-out of prior larvicide treatments ): $ 47,000
• Dock repairs at Rhett ' s Bluff and Bass Pond : $ 65,000
• Road washout repairs : $ 274,000
• Leisure trail washout repairs : $ 57,000
• Boardwalks : $ 200,000
• Gate controller repairs : $ 31,000
Insurance KICA insures assets which can be traditionally insured , such as buildings and vehicles . Annually , staff work with professionals to develop insurance program recommendations , which are then reviewed by the Finance Committee and the board prior to approval and implementation .
Infrastructure ( such as roads , leisure trails , drainage pipes , docks , and boardwalks ) and cleanup costs are not insured , because coverage is either unavailable or cost prohibitive . KICA has made queries about coverage , and has been told the same thing by brokers and peers at community associations around the country . Within the past year , this type of coverage was priced in the neighborhood of $ 100,000 per $ 1 million in coverage , with a $ 5 million deductible .
Reserves KICA develops reserves to replace roads , bridges , boardwalks and other infrastructure based on projections of expected useful life , ensuring funds are available when an asset needs to be replaced . Reserves are not held for natural disasters . Therefore , when material costs are incurred for storm clean-up , they must be recouped by an assessment .
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