BST Renovations

August 6, 2017

The Bolton Swim and Tennis Board of Governors is proposing to allocate a budget of $250,000 to upgrade the existing facility. The attached plan shows the areas in which these improvements will be focused. If the budget is approved, the plans will be finalized to include as many of the desired improvements as possible.

The proposed improvements are as follows:

  • Americans With Disabilities Act (ADA) compliant entrance to the facility
  • Addition of an ADA compliant family bathroom
  • Non-commercial food preparation area
  • Replacement of the existing shed
  • Minimal upgrades to pool office and changing rooms

These upgrades to the facility have been selected on the basis of several membership surveys in which BST members have identified improvements they desire. 

The upgrades to the facility is proposed to be financed as follows:

  1. $50,000 from existing reserves
  2. $69,000 raised through increase of transferable stock price to $700 per share, phased in at a rate of $50 per year for new and current members over four years
  3. Up to $130,000 at 6% interest borrowed as follows: 

Payment Term Annual Loan Payment

Increase to Family Membership Dues

Increase to Dual Membership Dues

Increase to Single Membership Dues

7 Years

$8,449.00 - $21,967

$27.00 - $70.20

$23.00 - $59.80

$18.00 - $46.80

 

10 Years

$6,408.00 - $16,661

$21.00 - $54.60

$18.00 - $46.80

$14.00 - $36.40

 

 

The BST Board of Governors will move forward with this project only if a majority of shareholders vote in favor of the proposal. We are collecting votes through SurveyMonkey. One vote will be tallied per share. If two votes are received for a dual or family membership, each will be recorded as half of one vote. Please use this link to vote: https://www.surveymonkey.com/r/GVV8BJ5.

Schematics of the proposed renovations are available here.

Below are questions received from members about the proposed renovations along with responses from members of the BST Renovations Committee:

What is the thinking concerning the kitchen? I'm fully in favor of more refrigeration, sinks and counters, but wonder that we really need a stove, with all the cleaning, maintenance and safety risks. 
The plans are really still in flux.  We realize that the stove can be a liability therefore we will be reconsidering that aspect of the kitchen. Currently there is only what you've suggested planned, i.e. additional prep space, refrigeration, sink, etc. There is NO plan for a kitchen, simple a prep and clean up space.

Was it discussed whether to install a wheelchair-accessible ADA-compliant pool lift somewhere on the pool deck, and will the new kitchen area be ADA-compliant?

There will be no kitchen, simply a prep area. Regardless, we expect this area to be ADA compliant. As to the lift, thus far there has not be any pull from the membership and the renovation committee serves at the will of the membership. But, if you feel strongly in regards to this addition, please make sure this information is detailed in the survey.

I feel like late last year there was discussion of a workout room being added to the club.  Where did that go in terms of upgrades?
The workout room was part of the largest, most extensive part of the renovations plans.  This more modest, scaled back renovations plan does not include it because upgrades to already existing facilities would take precedents. Workout room was an idea,  but deemed too costly with little membership data to support the expense. 

Is it correct that because I originally paid $500 for the stock, I would have to pay $50 a year for the next 4 years starting in 2018? Are my annual dues affected by this? What is the deadline for response to the survey?
When you joined Bolton Swim & Tennis you paid $500 to purchase one membership share.  This will be refunded to you if and when you terminate your membership in Bolton Swim & Tennis.  In order to finance the proposed renovations the board is asking the membership to approve an increase of $200 for each membership share.  This increase will be retroactive for ALL membership shares and the $200 will be billed at $50 per year for four years.  If and when you terminate your membership, you will receive a refund of $500 plus whatever amount of the four annual payments of $50 that you have paid.  So, if you remain a member for three years, you will receive $650 and, if you remain a member for four years or more, you will receive $700.

Depending on the total cost of the renovations, Bolton Swim & Tennis may need to borrow from $50,000 - $130,000 from the bank.   The chart in the middle of the letter shows the annual increase in dues that you will pay, depending on the amount borrowed and the number of years BST takes to pay back the loan.  This increase is for the loan only and it is likely that, from time to time, there will be additional dues increases due to rising costs of operating BST.  So for example as a single member, if BST borrows $50,000 and repays it over 7 years you will pay an additional $18.00 per year for 7 years. If BST borrows $130,000 and repays it over 7 years, you will pay an additional $46.80 per year for 7 years.  This is for the loan only.  Any additional dues increases will be on top of this.

No deadline has been set for responses, but the Board would like to conclude the voting ASAP so that, if approved, we can move to the planning phase and begin construction when the pool closes at the end of the 2018 season.