A Reserve Study is an enumerate inventory of the major capital assets and improvements within the common areas of the Montage at Mission Hills development that have a life span of 30 years or less. The Reserve Study provides an inventory of those assets and information setting out 1.) An estimate of the remaining life-span of those components; 2.) An estimate of the future cost to repair or replace those assets and improvements at the conclusion of their lifecycle; and 3.) A long-range funding plan to pay for the repair/replacement of those components when they reach the end of their useful life.
An update of the Reserve Study by a professional analyst is required every 3 years per California state law. Updates by professionally competent analysts are required in intervening years. When an asset or improvement has reached the end of its useful life and comes time to repair/replace the capital assets the Board will assess the need for maintenance or replacement and if action is required secure competitive bids for the work required.
To view and download a copy of the Montage at Mission Hills Reserve Study click on the document you would like to view below.