FCC White Paper Report

• December and January meetings during which members can ask questions about the white paper. • There will be a full membership meeting on Jan 10, 2025. The committee , the Board, and consultants will present important information before the comprehensive member survey. • Following the presentation, every membership will receive a Strategic Issues Survey, which The McMahon Group will tabulate. • Survey results will be shared with the membership in February. • Once survey results have been incorporated into a Plan that the Board believes the membership will support, a membership meeting will be scheduled, followed by a vote on the proposed Plan. • Joining Fee Policies: Until 2018, approximately 70% - 80% of members joining fees were returned to selling homeowners. This policy significantly reduced the funds available for capital improvements. While new joining fees contribute to the club's capital account, pre-2018 members have membership agreements protecting their initiation fee returns. This arrangement delays the buildup of significant capital reserves. • FCC's Board and Committees have consistently aimed to keep member costs within the average range of regional country clubs. While this strategy has maintained affordability and member satisfaction somewhat, it has also constrained the club's ability to allocate sufficient funds toward significant capital improvements. Balancing affordability with the need for extensive renovations has proven challenging without the member joining fees funding major capital needs. • Aging Infrastructure: The main clubhouse and gatehouse, both over 40 years old, require extensive maintenance, further limiting the capital available for new projects. • FCC has maintained a consistent monthly capital dues charge of $290 per member, which covers capital replacements (vs aspirational enhancements). This amount has not been increased since 2015. 18. Why does FCC lack the capital needed for renovation? Answer:

19. Why have previous aspirational projects been reduced in scope? • Answer:

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