🏢 SCCA Inc. Board Meeting AGENDA
📅 Date: Monday, November 16, 2026
🕖 Time: 7:00PM
📍 Location: Poolside or 3761 NW 84TH 1A
Attendance: All Board Members are required to attend
All Owners are strongly encouraged to attend
📄 Available Documents:
February 16,2026 minutes
May 18,2026 Minutes
Financial Reports
Find them at www.springcreekcondos.com
🆕 New Business
Roof Financing Discussion for Board Review
1. Advantages / Disadvantages of Paying Off Roof Loan (Phase 3 Buildings 3771, 3781, 3791)
Current Loan Status as of November 1, 2026
Outstanding Balance: $16,247.79
Monthly Payment: $2,760.44
Interest Rate: 6.25%
Final Payment: June 2027
Advantages of Paying Off the Loan Early
Reduces Interest Expense
The Association would eliminate the remaining interest due between November 2026 and June 2027.
While the savings are relatively small because the loan is nearing maturity, some interest savings would still be realized.
Improves Monthly Cash Flow
The Association would free up approximately $2,760 per month immediately.
These funds could be redirected toward roof repairs, reserves, or Phase 2 financing.
Strengthens Financial Position
Eliminates one outstanding debt obligation.
May improve lender perception should financing be needed for Phase 2.
Simplifies Accounting
Removes the need to continue tracking loan payments through June 2027.
Disadvantages of Paying Off the Loan Early
Reduces Available Cash
Using $16,247.79 to retire the loan reduces available cash reserves.
Cash may be more valuable if Phase 2 roofing work needs to proceed sooner than anticipated.
Limited Financial Benefit
Since only a few payments remain, most of the remaining balance consists of principal rather than interest.
Total interest savings are likely modest compared to the amount of cash required.
Less Flexibility
Maintaining cash on hand may provide greater flexibility for emergency roof repairs or deductible expenses resulting from leaks.
Recommendation
Unless the Association has excess operating or reserve funds, retaining cash and allowing the loan to mature in June 2027 may be more advantageous given the relatively small balance remaining and the potential need for Phase 2 funding.
2. Options for Phase 2 Roofing Project
Background
Phase 1 is currently being assessed through June 2027.
Phase 2 currently leaks have now been reported some roof sections.
The Board may need to accelerate the timetable for Phase 2 rather than waiting until the planned assessment period of October 2027 through December 2028.
Option A - Continue Original Plan
Phase 1 assessment continues through June 2027.
Phase 2 assessment begins October 2027 and ends December 2028.
Advantages
No overlap of assessments.
Lower financial burden on owners in the short term.
No additional borrowing costs.
Disadvantages
Continued leakage may result in:
Interior unit damage
Increased maintenance costs
Insurance claims
Higher future project costs
Option B - Proceed with Phase 2 Now Using a Short-Term Loan
Complete Phase 2 in 2027 and finance the project with a 24-month loan.
Assessments could still follow the original schedule (October 2027 - December 2028) and be used to repay the loan.
Advantages
Addresses roof failures immediately.
Prevents escalation of leak-related damage.
Preserves owner assessment schedule originally anticipated.
Allows construction while costs are known rather than waiting for possible inflation.
Disadvantages
Interest in expense on the new loan.
Association carries two obligations simultaneously for several months.
Option C - Complete Both Phases Simultaneously
Proceed with all remaining roof work as one project.
Advantages
Entire community receives new roofing sooner.
Potential savings from contractor mobilization and project management costs.
Consistent warranty period across all buildings.
Eliminates repeated disruption to residents.
Disadvantages
Larger financing requirements.
Potential for increased assessments.
Greater financial commitment by owners at one time.
Option D - Hybrid Approach (Recommended for Consideration)
Continue existing Phase 1 assessment through June 2027.
Begin Phase 2 roofing work as soon as practical due to reported leaks.
Obtain a short-term loan (approximately 24 months) for Phase 2.
Begin collecting the originally planned Phase 2 assessment in October 2027.
Apply assessment proceeds directly toward the Phase 2 loan.
Advantages
Addresses active leaks immediately.
Avoids waiting another year for needed roof replacement.
Keeps the Board's long-term assessment plan largely intact.
Limits loan duration and interest expense.
Once the current $2,760.44 payment obligation ends in June 2027, available cash flow can support the new financing if needed.
Disadvantages
Temporary overlap of loan obligations.
Some owners may question borrowing before the current assessment ends.
Strategic Consideration for the Board
Given the reported leaks, the primary question is no longer whether Phase 2 will be needed, but whether the cost of waiting exceeds the cost of borrowing.
If the remaining roof sections are actively failing, a 24-month financing plan combined with the already scheduled October 2027 through December 2028 assessment may provide the best balance between protecting the buildings and limiting the financial impact on owners.
This approach allows the Association to:
Address leaks promptly.
Avoid depleting reserves.
Maintain the planned assessment structure.
Spread costs over a manageable period while minimizing additional interest.
📋 Old Business
1. At last meeting Emoni McGregor suggested a community garden. To be placed in Phase 3 beside 3761 facing 84th Ave. would be 4 or more raised beds. Raising vegetables and fruits in season. Since then, board has received a letter from Emoni which is more detailed and will require all owners to review before going forward.
📋 Various Other Matters:
Annual Meeting is scheduled for Saturday January 16, 2027.
In connection with the Annual Meeting, the following procedure must be followed: 1. 2. 3. First Notice. The First Notice must be mailed, hand-delivered or electronically transmitted (to those owners who have consented in writing to receive electronic notice) to unit owners at the address as it appears on the books of the Association, not less than sixty (60) days (Tuesday, November 17, 2026) prior to the date of the election. The first notice package to be sent out by the Association must contain the following: (i). (ii). First Notice of Date of Annual Meeting and Board Election; and Notice of Intent to Serve on the Board. All unit owners and other eligible people wishing to be candidates for the Board must submit a written notice to the Association stating their intent to be a candidate. This written notice must be received by the Association at least forty (40) days (Monday, December 7, 2026) before the date of the election. The Association must issue a receipt to each candidate who has delivered a timely Notice of Intent. Section 718.112(2)(d)3, Florida Statutes, provides that a candidate must be eligible to serve on the Board at the time of the deadline for submitting a Notice of Intent in order for his or her name to be listed as a proper candidate on the election ballot or serve on the Board. The eligibility requirements are set forth in the Statute and any eligibility requirements in your governing documents which do not conflict with the statutory eligibility requirements. Candidate Information Sheets. A unit owner who submits a timely written notice stating an intent to be a candidate for the Board may also submit a one (1) page, letter-size candidate information sheet to the Association that must be received by the Association not less than thirty-five (35) days (Saturday, December 12, 2026) before the election. The Association must include a copy of the candidate information sheet, if submitted in time by a candidate, with the Second Notice package. Questions often arise about the information that can be contained or permitted in these candidate information sheets. Please contact Anita Maria Jones with your questions. Nominations; Board Eligibility. There are no nominations from the floor at the election and no- write in candidates. S09847/106578/32371648.v1 Spring Creek Condominium Association, Inc.
There are various statutory eligibility requirements that pertain to co-owners of a unit, delinquent owners and owners with prior criminal history as well as candidates who are currently charged with a crime. Please contact Anita Maria Jones to discuss any questions regarding candidate eligibility.
📅 Next Meeting: