2018 ADMIRALS COVE EAST & GOLF VILLAGE CLUBHOUSE ... · 2018 Admirals Cove East & Golf Village...

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2018 Admirals Cove East & Golf Village Clubhouse Renovation ProjectPlanning Today For Tomorrow

R E C O M M E N D A T I O N F R O M T H E B O A R D O F G O V E R N O R S

TO BE VOTED UPON BY MEMBERS: NOVEMBER 28, 2017

PLANNING TODAY FOR TOMORROWMAINTAINING ADMIRALS COVE AS A PREMIER CLUB IN FLORIDA

2018 ADMIRALS COVE EAST & GOLF VILLAGE CLUBHOUSE RENOVATION PROJECT

A Letter from the PresidentDear Fellow Members:

The Club has continued through the years to maintain an excellent and strong financial position.Prior investments in 2012 and 2015 have resulted in increased member satisfaction, world classgolf courses, and a Marina that not only produces the net revenue to reduce member dues eachyear, but generates capital producing home sales. This season 6 home sales were generated asboaters purchased homes converting from non-equity Marina residents to home owners and

equity members. We have also had 2 consecutive years of NO INCREASE in Member Dues (Operating Budget) orCapital Dues (Capital Budget). Further, Admirals Cove has maintained its competitive market place advantage as theplace to live in South Florida. We continuously exceed a budget of 26 annual membership sales to fund our annualCapital Budget.

To preserve this trend, the Board of Governors initiated a study over a year ago to evaluate the amenities andservices that will be in demand by our age diverse community to establish a plan to insure the Club will have therequired infrastructure for the foreseeable future. We knew our study would need to be thorough and encompass awide range of amenities and member interests. The process with the membership started at the Annual Meeting,continued through our Focus Group Sessions held this past season and concluded with applying the comments andconcerns from the membership in our final analysis.

The study has now been finished and a number of improvements are being recommended that if completed wouldsecure the viability of the Club for the foreseeable future. The impact to member Capital Dues would be an increaseof $82 per month for a social member and $83 per month for all other members over the term of the project loan.

A central objective in financing the project was to take a very conservative approach. The project budget hastherefore been based on only 19 membership sales per year while the Club’s Capital Budget is based on 26membership sales per year and over the past 13 years, the Club has averaged 34 membership sales per year. The19 membership sales occurred during the past recession and represents the lowest over the last 13 years. Greaterdetails are covered in the Cost and Finance section of this brochure. If approved on the schedule defined herein, theproject is estimated to be completed by November 2018.

The Club has worked with a number of architects and contractors over the last year to arrive at theserecommendations and projected associated costs. Two architectural firms, Garcia Stromberg and Glidden Spina,have delivered the quality plans and specifications required by the Club and were selected to design the proposedimprovements as presented herein.

This brochure will help explain all of the recommended improvements to our Club. We hope you will take the timeto review it and attend the Information Sessions with the Board, Standing Committee and Club managementrepresentatives that will be held to assist you with any and all questions and/or concerns you may have regardingthis project. If approved we will provide you with a much-needed project of which you will be very proud and onethat is delivered on time and on budget. Your Board of Governors is unanimous in urging you to vote for thisproposed project.

For the Board of Governors,Yours truly,

Robert D. Symonds, President

Robert D. SymondsPresident

THE CLUB AT ADMIRALS COVEBoard Of GovernorsPresident Robert D. Symonds

Vice President Robert A. Newman

Treasurer Lewis Lax

Secretary Richard M. Goldenberg

Governor Bernie Carballo

Governor Charles Ezrine

Governor Gerald Holm

Governor Barbara Robbins

Governor Richard C. Sheehan

COMMITTEE CHAIRS & LIAISONSBy-Laws & Legal

Robert A. Newman, Chair; Christopher Speed, Vice Chair; Marty Farber, David Kentoff, And Bob Scott

External AffairsJudy Goldenberg, Co-Chair; Rick Goldenberg, Co-Chair;

Tom Hewitt, Co-Chair; Susan Holm, Paul Keenan, Tara Lynch,Tony Orrico, Arthur Wolpert, And Richard Yorks

FacilitiesCharles S. Ezrine, Chair; Sam Fromkin, Jerry Mercadante,

Scott Mustapick, And Frank Scarpa

FinanceLewis Lax, Chair; Jeff Buchalter, Vice Chair; Rick Goldenberg,

Greg Lentz, James Li, Ben Plotkin, And Heinz Riehl

GolfRichard C. Sheehan, Chair; Debbie Carton, Ron Chernow,

Sunny Cole, Bruce Frank, George Heisel, Joy Kiah, Joe Mccart,Carol Poor, Kim Tiano, And Craig Zoufaly

GreenBernie Carballo, Chair; Fred Fine, Vice Chair; Doug Bayliff, Ron Chernow, Lou Defilio, Marty Romm, Neil Schlackman,

And Eileen Young

HouseBarbara A. Robbins, Chair; Albert Berger, Steve Daren, MarjorieGuth, Susan Kentoff, Rookie Komitor, Larry Perkins, Amy Reilly,

Stephen Solomon, Marilyn Steinback, Thais Vogel, Andrew Wilson, And Len Wolman

MarinaRobert D. Symonds, Chair; Eddie Carreiro, Jonathan Cherner,Paul Edenbaum, Brad Francis, , Vernon Krause, Roger Miller,

Rick Stoddard, And Kevin Warren

MembershipGerald Holm, Chair; Sandy Drazan, Scott Nichols, Soraya Nichols,

Kathleen Reilly, David Smith, And Charlotte Zaret

Social & EntertainmentRonald Scarpone; Chair, Arthur Bobrow, Ilene Cohen,

Judy Goldenberg, Ernest Groom, Marlene Hewitt, And Tara Lynch

TennisRobert D. Symonds, Chair; Dan Dimonaco, Vice Chair; Marie Krause, Jerry Orchin, Tony Orrico, Terry Schuster,

And Lisa Scott

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• East Clubhouse Entrance

Handicap Access to Clubhouse

Valet Traffic Flow

• 19th Hole, Blü Dining & Lobby

Handicap Access to Blü Dining Area

• Relocation of MPOA Offices & Club Engineering Offices

• Main Kitchen Renovation & Additional Receiving/Storage

• Golf Village Bar, Lounge & Dining Area

• Blue Water Salon

• Blue Water Spa

• Ladies Locker Room & Lounge

• Gallery Hallway Connecting Lobby to Fitness, Spa & Salon

• Tennis Complex & Regulation Pickleball Courts

• Additional East Club Parking

Stackable Staff Parking Located Under Proposed Spa & Salon

Additional Member Parking & Golf Cart Lots

RENOVATIONS AND IMPROVEMENTS

NEW SPA RECEPTION

NEW 19th HOLE BLÜ

NEW TENNIS COMPLEX

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EAST CLUBHOUSE ENTRANCE

• Valet compaction with only having 2 valet lanes

• Weather and elements exposed handicap drop-off

• No handicap elevator

• No handicap accessibility to bank or salon

• Exterior coral wall deteriorating

PRESENT CONDITIONS RECOMMENDED CHANGES• Expand valet to 3 valet lanes• Add covered handicap drop-off and pick-up• Add a handicap elevator for Clubhouse, bank and MPOA office• New centralized valet station• Renovation of entrance area walls and staircases• Improve sense of arrival

PRESENT CONDITIONS RECOMMENDED CHANGES

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19TH HOLE, BLÜ RESTAURANT & LOBBY

• Current lounge dated and tired

• Lack of handicap access

• Lack of adequate bar & seating

• Lack of beverage storage and refrigeration

• Lounge not conducive to large gatherings

• Modernize bar area with adequate beverage storage & refrigeration

• Add handicap access to Blü dining area• Increase bar seating• Open area for larger gatherings & dining• New contemporary look to Blu• Establish a new sense of arrival• Create new central gathering area

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PLANNING TODAY FOR TOMORROW


MAINTAINING OUR LIFESTYLE Handicap elevator


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RELOCATION OF MPOA OFFICES & CLUB ENGINEERING OFFICES

• Re-locate MPOA office to current salon area

• Convert current MPOA office to Club engineering office and supply room

Club engineering offices New MPOA offices

CURRENT MPOA OFFICES CURRENT SALON


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• Renovate Harborview kitchen

• Remove all items currently

stored on exit walkway

• Make dish area more efficient

• Double the work area for

cold food preparation

• Double the work area for bakery

& pastry preparation

Additional storage & refrigeration

MAIN KITCHEN RENOVATION &ADDITIONAL RECEIVING/STORAGE

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Dumpsters exposed and Pods rented for storage

Hallways used for storage

Current view from Boulevard

RECOMMENDED CHANGES

• Clean up back loading-dock and receiving area• Enclosed garbage dumpster with conditioned space• No longer an eye sore from Boulevard

1st Floor Storage, paper & cleaning

supplies, tables, chairs

2nd Floor Receiving, refrigeration,

F&B storage

3rd Floor Banquet tables, chairs,

props, linens

PRESENT CONDITIONS

PRESENT CONDITIONS RECOMMENDED CHANGES• Modernize bar area with adequate beverage storage and

refrigeration• Increase bar seating• Open area for larger gatherings and dining• New contemporary look to golf village• Establish a new sense of arrival• Create new lounge area• New enclosed lounge seating on patio for after golf

or before & after dinner8


GOLF VILLAGE BAR, LOUNGE & DINING AREA

• Dated bar and lounge area

• Lack of beverage and cooler space

• Limited bar seating

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MAINTAINING OUR LIFESTYLE

NEW ENCLOSED LOUNGE ON TERRACE RENOVATED MAIN DINING AREA


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• 14 years old and dated

• Shampoo stations too close to manicure station

• Shampoo station inadequate, ergonomically poor

• Hair styling stations too close to manicure station

BLUE WATER SALON

• New lounge area• Six styling stations• Hair color room• Manicure station with five tables• Pedicure room with six chairs• Makeup area• Drying station• Private mens barber shop

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SALON

SPA

PROPOSED SALON DESIGN

Shampoo StationColorPedicure

Manicure

Hair Salon Barber Shop

Seating Area

Seating Area

Lobby

PRESENT CONDITIONS RECOMMENDED CHANGES• Spa facilities dated (not a spa, only treatment rooms)• Only three massage rooms at full capacity• Co-ed waiting lounge• Noise issues in spa; hear lockers closing; dishes washing: prep

room in wrong location - heavy doors• No wet areas; no “zen-quiet” zones• Locker rooms not conducive to spa

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BLUE WATER SPA

• Expand spa, add three additional massage rooms

• Provide separate mens & ladies lounge area

• New mens & ladies spa locker rooms

• New state of art wet area featuring: steam, sauna,therapeutic

hot tubs and plunge pools

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NEW LOBBY ENTRANCE TO SPA & SALON NEW SEPARATE MEN’S & LADIES’ LOUNGE

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PROPOSED SPA DESIGNDeluge shower to soothe sore muscles.

Deluge shower to soothe sore muscles.

Bathrooms

Men’s Spa Area

Ladies Spa Area

Bathrooms

Hydrotherapy TubPlunge Pool

Hydrotherapy TubPlunge Pool

Ladies Wet RoomSauna, Steam

Men’s Wet RoomSauna, Steam

Men’s Relax AreaCourtyard

Ladies Relax AreaCourtyard

Facial

Facial

Salt RoomMassage

Treatment RoomsThree Additional Rooms


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LADIES LOCKER ROOM & LOUNGE

PRESENT CONDITIONS

(481 sq. ft.)

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RECOMMENDED CHANGES

(922 sq. ft.)


LADIES LOCKER ROOM & LOUNGE

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GALLERY HALLWAY CONNECTINGLOBBY TO FITNESS, SPA & SALON

NEW GALLERY HALLWAY SEATING AREA NEW LADIES LOUNGE


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TENNIS COMPLEX & REGULATION PICKLEBALL COURTS

• Facility circa 1988

• Inconvenient pro shop location on second floor

• Restrooms dated 2002

• Steal columns rusted

• Seating area for events open to the elements

PRESENT CONDITIONS RECOMMENDED CHANGES• Move pro shop to ground floor

• Convert pro shop to lounge area

• Renovate restrooms

• Add roof top covered terrace for viewing matches, event dining

• Ability to host all 4 league teams in a more contemporary facility

• Ability to host guests and be proud of our facility

RECOMMENDED CHANGES

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PROPOSED TENNIS FACILITY DESIGN

• Renovation of bathrooms

• Relocate pro shop to ground level

• Enclosed storage area

• Convert existing pro shop to 2nd floor lounge• Add new 2nd floor deck with louver trellis and screen

enclosure

RECOMMENDED CHANGES

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PRESENT CONDITIONS RECOMMENDED CHANGES• Unsecured storage area for supplies and court clay• Storage area exposed to elements• Enclosed plastic fence diminishes look of facility

• Enclosed & secure storage facility

• New architectural modern design



TENNIS COMPLEX & REGULATION PICKLEBALL COURTS

RECOMMENDED CHANGES RECOMMENDED CHANGES

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• Convert court #12 into 4 pickleball courts withconstruction of a new 5th court

• Add new halogen lighting with LED

• Install new fencing and convert all halogen lighting with LED


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PROPOSED NEW STACKABLE STAFF PARKING LOCATED UNDER THE SPA & SALON

ADDITIONAL EAST CLUB PARKING

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ADDITIONAL MEMBER PARKING & GOLF CART LOTS

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COST AND FINANCESThe total construction costs for the project are estimated to equal $21,400,000. The project costs are proposed to be financed as follows:

By Capital Borrowing (if approved by the Members) as follows: 1) refinance of the Club’s existing loan balance of approximately $9,262,400 and 2) obtainingadditional financing in the original principal amount of $21,400,000. We have projected that the loan term will be 20 years and that the initial interest rate willbe 4.25%. A final loan commitment and terms from the Bank will be forthcoming pending the membership approval of the project.

The balance of the project costs, together with the Club’s annual capital expenditures, will continue to be funded through our Capital Budget which hasworked successfully since 2008. This Capital Budget includes the proceeds from Capital Dues and Membership sales and includes the following increasesapproved by the Board:

a- An increase in monthly Capital Dues of $82 for Social Members and $83 for all other Members, commencing January 1, 2018 for the life of theProject loan so that Capital Dues will be as follows:

Current NewGolf $173 $256Sports $116 $199Tennis $ 70 $153Social $ 49 $131

b- An increase in the new total Member Initiation Fees (with no change to the Refundable Portion of the Initiation Fee) that has been approved by theBoard of Governors to be effective January 1, 2018, regardless of the outcome of the vote for the project, as follows:

Total Initiation FeeFrom To

Golf $150,000 $175,000Sports $110,000 $128,500Tennis $100,000 $117,000Social $86,250 $101,000

Currently, the Club’s Capital Budget assumes 26 membership sales per year. Over the past 13 years, the Club has averaged 34 Membership sales per year.However, the Board of Governors wanted to take a very conservative approach for this project, so the Board has assumed only 19 Membership sales per yearfor its financing projections. This level of Membership sales represents the lowest number in the last 13 years, which occurred during the last recession. IfMembership sales exceed 19 in a year, the Board of Governors intends to re-evaluate the then current year’s Capital Budget for the purpose of possiblyreducing the term of the loan.


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TIMING:

• October - Project proposal sent to Admirals Cove Members

- Illustrations of improvements to be displayed inclubhouse lobbies and available on the Admirals Covewebsite

- Information sessions with members begin

- Voting begins using the Club Website and submittingabsentee and proxy votes

• November 28, 2017 - Vote to be completed by Admirals Covemembers

IF APPROVED:

• November 29,2017 - January 2018 - construction documentsprepared

• January 2018 - Bidding & contractor selection & Town of Jupiterpermitting

• March - May, 2018 - Golf Village construction

• May 2018 - Tennis, spa & salon construction begins

• November 15, 2018 - Projected construction completion date

NEW EAST CLUBHOUSE ENTRANCE

NEW ENCLOSED LOUNGE ON GOLF VILLAGE TERRACE

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APPENDICES

Changing Admirals Cove Demographics & Lifestyles

Comments From Realtors

Project Architects

Questions And Answers


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CHANGING ADMIRALS COVE DEMOGRAPHICS & LIFESTYLES

In evaluating the future of the Club, one has to look through a prism thatincludes the entire membership and industry trends of what future homebuyers want in their Club.

What is most interesting has been the ability of our Club to attract youngerhome owners on a continuing basis which has created a balanced and agediverse community. Some 43% of our members are under 60 years of age(reflect only members with birthdates in our database). This diversity challengesthe Club to continually look ahead, plan for our future and always, makeadjustments along the way.

The Club has closely followed industry trends and generational changes toaddress the new sought-after lifestyles. This research has led to implementingour Health and Wellness programs on a gradual basis. These programs haveproven to be essential to our new homeowners as well as providing significantbenefits on campus for the entire membership. Related programs are nowfound in our Fitness, Spa and Salon services and are continually updated tokeep pace with industry innovations. The growth in use of the Fitness, Spa andSalon has increased 333%, 256% and 179% respectively over the last 14 years.Since the 2012 Fitness Center renovation, the Club has experienced 55%, 61%and 61% growth in these amenities.

This demand strongly suggests that the Club should continue to focus andinvest in Health and Wellness when warranted. The proposed renovationproject would create a new modern Spa and Salon in response to ourexperience and anticipated future demands.

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Another area that the private club industry closelyassociates with a vibrant Health and Wellness program andmore active lifestyles is on-campus dining. It is associatedbecause it creates a synergism for members to spend moretime at the Club and further benefit from all of its socialaspects. Members’ use of Club dining at Admirals Coveduring the last 14 years has increased 129% and over 44%since 2012.

The Club continues to evaluate dining in terms of the fareas well as the venues. Changes have been made for morecasual dining (including attire) as well as more formal,upscale dining. Expansion of the Marina Café and therecent addition of weather protection, the new Blü Notemusic evenings at the Marina Cafe, the Golf Village halfwayhouse and Golf Village terrace dining have all been inresponse to member feedback.

The proposed project includes the creation of a central bar (19th Hole) to improve the social experience at the East Clubhouse and ambiance at Blüdining. It also includes the renovation of the Golf Village dining to establish a bar (which does not exist today) and an enclosed lounge overlookingthe course to provide golfers, diners and guests a place to socialize. The dining area will also be updated to establish a modern multi-purposeenvironment complete with a venue that can accommodate group outings and special events like cooking classes and gourmet dinners.

As new residents arrive, their membership purchases generate the capital funds to maintain a quality annual maintenance budget of $2 million. Toprotect this very important dynamic, the Club believes the proposed project will respond to those demands and requirements of the lifestyles beingsought by new members. We must always consider that as we compete with other clubs within the marketplace for these new homebuyers.


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COMMENTS FROM REALTORS

We are very impressed with the improvements that the members will be voting on for both the East and Golf Village Clubhouses. We believe that theseimprovements are important to the Club’s future and will help to secure its place as a premier South Florida Club. We applaud the Board of Governors fortheir vision and hard work.

— Tom Frankel, Admirals Cove Realty

The proposed renovation will bring a fresh look and modernize the functionality and appearance of the facilities consistent with the desires of the currentmembership and attracting new members.

— Cary Lichtenstein, Lisa Lichtenstein Wilson and Andy Wilson, Echo Fine Properties and Illustrated Properties

In today’s marketplace, all upscale communities are competing for the same limited number of buyers shopping for a community in which to reside. I amvery happy to see that Admirals Cove has the wisdom and foresight to understand the importance of fresh, vibrant and current amenities that will attractthose buyers.

As a broker in this market for the past 37 years, I wholeheartedly support the renovations and improvements being presented by the Board of Governors.

— Richard Sheehan, Sheehan Realty Corporation

I am excited about the proposed improvements to a number of areas within the East and Golf Village Clubhouses. A world-class spa is need for a world-class club. This is an area that we struggle with when showing buyers the Club facilities. This addition would be a huge help.

The recent improvements that have been made to The Club, its golf courses and Admirals Cove Marina have helped sell homes and memberships bycontinuing to keep Admirals Cove ahead of the competition. Without improvements like these, communities go stagnant and values drop. As a realtor Iknow this will help attract new buyers as well as improve our property values. As a resident and Club Member I am excited about how this will increase ourenjoyment of the best community in the area.

— Rob Thomson Waterfront Properties and Club Communities

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We have retained the international award winning architecture and interior design firm Garcia Stromberg, located in West Palm beach, for our new state-of-the-art spa and salon facility, the main arrival court, Blü 19th Hole

and Restaurant, redesign of the women's locker room/ lounge area, and the rebranding of the Golf Village Bar and Restaurant and Lounge. They have designed many notable projects in the area and abroad including

The Boca Raton Beach Club, One Thousand Ocean, Floridian National Golf Club and Resort and Spa, St. AndrewsCountry Club Spa, Frenchman's Reserve Spa and Fitness, Westin Diplomat Hotel Spa and Lobby, Akoya,

3550 South Ocean, Conrad Hotel Ft. Lauderdale, Adagio on the Beach, and the Westin Grand Cayman Hotel.

PROJECT ARCHITECT & CONTRACTORSGarcia Stromberg


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PROPOSED EAST CLUBHOUSE ENTRANCE

PROPOSED BLÜ DINING ROOM PROPOSED NEW SPA ROOM

PROPOSED WOMEN’S LOUNGE

PROPOSED GOLF VILLAGE TERRACE LOUNGE

PROPOSED GALLERY HALLWAY SEATING AREA

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TENNIS PRO SHOP

EAST CLUBHOUSE KITCHEN

The architectural firm for the Kitchen and Tennis projects is Glidden - Spina & Partners,Architecture - Interior Design, Inc. They are one of the premier architectural firms in thearea. Some of their recent projects include Downtown at the Gardens, Landmark at theGardens, Donald Ross Village, Jupiter Yacht Club, PGA Commons, Sailfish Marina,Hemingway’s Marina Restaurant in Maryland, Emerald Dunes Country Club, WoodfieldCountry Club, Indian Creek Country Club, The Society of the Four Arts and a $30million restoration project at Palm Beach Bath and Tennis Club.

PROJECT ARCHITECT & CONTRACTORSGlidden Spina


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QUESTIONS AND ANSWERS

Q. Who are the architects for the renovationproject and what is their experience? • The chosen architectural firm for the Kitchen and

Tennis projects is Glidden - Spina & Partners,Architecture - Interior Design, Inc. They are one ofthe premier architectural firms in the area. Some oftheir recent projects include Downtown at theGardens, Landmark at the Gardens, Donald RossVillage, Jupiter Yacht Club, PGA Commons, SailfishMarina, Hemingway’s Marina Restaurant inMaryland, Emerald Dunes Country Club, WoodfieldCountry Club, Indian Creek Country Club, TheSociety of the Four Arts and a $30 millionrestoration project at Palm Beach Bath and TennisClub. They were our architectural firm for the 2012Clubhouse and Facilities project.

• The architectural firm used to design the EastClubhouse entrance and lobby, Blue 19th Hole,and Blu dining, Golf Village bar, lounge area anddining is Garcia Stromberg. The proposed state-of-the-art spa and salon has also been design byGarcia Stromberg. They are licensed architects in 13states with expertise and design of national andinternational facilities, including hotel and resorts,commercial and institutional mixed usedevelopments and residential projects.

Q. Will there be incremental costs to run thesenew facilities?• We anticipate there will be some incremental yearly

costs for taxes, electric, and other utilities. Our Staffneeds should not increase. Potential total operatingexpense increases will be approximately $200 peryear per member. Most of this will be offset byrevenue increases from various parts of the project– dining, lounge, spa, and salon.

Q. Who will manage this project?• Because of the magnitude of this project, the Club

will hire a highly qualified Project Manager who willreport directly to John Herring and RobertSymonds. Both John and Robert are experiencedwith construction projects and have been intimatelyinvolved with every detail of this project since webegan the process one year ago.

Q. Do we really need more space for the Spa andSalon areas? Our facility is not being fully usedmany times of the day.• We took into consideration all areas of wellness and

future growth. Wellness is the fastest growingsegment in private clubs and this trend willcontinue into the future. The demand for health andfitness and Spa services is growing dramaticallythroughout America in private clubs. People arestriving to live longer and live healthier lives. Duringpeak hours our present facilities are running at100% occupancy. Due to current and anticipateddemands we are also in need of additional spatreatment rooms and salon services.

Q. How much of an inconvenience will thisproject cause?• We plan on starting the renovation of the Golf

Village Clubhouse on March 2018 with acompletion date of June 2018 so members willhave a clubhouse available to them throughout thisproject. The East Clubhouse, Tennis and MainKitchen projects will start April 2018 with aprojected completion date of November 2018. Wewill have some inconveniences; however, the Clubwill do everything possible to minimize disruptions.

Q. What are comparable Clubs doing with theirfacilities?• Numerous Clubs are currently in the middle of

major renovations or initiating projects of similarscope and magnitude (Boca West, Polo, AddisonReserve, Frenchmen’s Creek, Frenchman’s Reserve,BallenIsles, Broken Sound, Ibis and Mirasol). Ourpeers see the same advantages of doing this now(finance costs, construction costs, etc.). It is veryimportant that we continue to provide utmostexperiences and maintain our position as thepremier Yacht and Country Club in Florida.

Q. Are there any other projects foreseen in thenear future? If not, why?• The completion of this project encompasses the

final phase of renovating all the departmentalfacilities of our Clubhouse originally constructedapproximately 30 years ago.

• The USGA forecasts that 20 years after constructionof any golf course, drainage failure, turf mutation,and infiltration by non-desireable grasses willusually require some type of renovation ortreatment. Our East golf course is 10 years old. Ourmodernized irrigation system, replaced in 2012, isfunctioning very well with no sign of wear. We haveundertaken the policy of removing contaminants inour bunkers yearly with the expenses providedthrough our annual Capital Dues and we do notanticipate a major renovation for 10 years (2027)but rather a replacement of some of the turf andpotential drainage unless the membership requestsa totally new design.

• Based upon member input during the FocusSessions and even though Golf Village parking wasdiscussed as a future concern during peak times,there is no plan at this time to create more parking.

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2018 Admirals CoveEast & Golf VillageThe Club at Admirals Cove

A Platinum Club of America200 Admirals Cove Boulevard

Jupiter, Florida 33477www.admiralscove.net

VALUES STATEMENT The Members and Staff of The Club at Admirals Cove make up acommunity of men, women and children who live, play, work, andotherwise interact together. Our Club rules and regulations have beencreated to manage and support common expectations that include:• advancing the Club’s Mission Statement• respecting the dignity, worth and uniqueness of one another;• exhibiting courteous, civil, fair and considerate behavior toward one

another;• encouraging communications among members incorporating the

basic principles of the open exchange of ideas and acceptance ofconstructive criticism and differing points of view;

• keeping our facilities and infrastructure clean, safe, attractive andfunctional, in the best possible condition;

• providing for the proper conduct of the affairs and activities of theClub;

• encouraging members to volunteer their time and expertise for theClub’s benefit; and

• guarding and advancing the Club’s reputation within and outside thecommunity.

MISSION STATEMENT The Club at Admirals Cove is a full service recreational countryclub committed to creating a sense of community among itsMembers, and providing the highest quality amenities, servicesand facilities for the enjoyment of all Members and their guests.The Club is guided by a framework of consistent fiscal policies toensure it can maintain the quality of club life and fiscal health it ispledged to preserve.

FINANCIAL MISSION STATEMENT The Club at Admirals Cove will promote consistent financialpolicies intended to ensure the stability and fiscal health of theClub. These policies shall be guided by the “perpetual entityprincipal” and not by individual life expectancies. This requiresviews with a long term horizon. Specifically, the Club should avoiddecisions which improve cash flow in the near term and deferexpenditures to future periods.

Management shall operate at optimal efficiency and effectivenessto meet all financial obligations, provide reliable financialinformation, and assure all assets are safeguarded and all fundsare spent prudently with oversight of the Finance Committee andthe Board of Governors.

2018 ADMIRALS COVE EAST & GOLF VILLAGE CLUBHOUSE ... · 2018 Admirals Cove East & Golf Village...

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