FCC White Paper Report

i. The FCC community collectively holds over $500 million in member housing value. ii. The existing clubhouse does not adequately serve members and negatively affects the FCC experience and member value proposition. Maintaining high quality facilities is essential to protecting and enhancing property values and attracting new members to FCC. The clubhouse needs to be updated and meet current Florida Building Code standards. Deficienc ies include ADA compliance failures, outdated HVAC systems, inadequate fire protection, and insufficient wind resistance for hurricanes. ii. Renovations are needed to bring the buildings up to modern safety and regulatory standards and ensure the safety of members and staff. In early 2020, the estimated cost for a similar renovation was approximately $18 million. ii. Delays have significantly increased costs due to rising prices of construction materials, equipment, labor rates, and interest costs.

B. Building Code and Safety Issues: i.

C. Rising Costs Due to Delays: i.

 Construction prices are up significantly. In South Florida, construction prices have almost doubled. Contributing factors include:

inflation



 SWF is one of the hottest real estate markets in the country, as most homes have doubled in value.  Drastic Labor shortage – due to affordability challenges, the labor force is relocating from SWF.  Hurricane damage has increased demand for labor and materials, resulting in shortages and long lead times.

iii. Timely action is crucial to avoid further financial strain and ensure the safety and satisfaction of members.

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