Based on these two studies and the 2019 reconstruction costs for the Greenwood Drive and Lighthouse Road projects, Sea Pines Community Service Associates (CSA) identified over $50 million worth of critical infrastructure projects and needs over the next 10 years. This amount estimates the cost of repairing and rebuilding the community’s aging roads, bridges, leisure trails, beach access points, and drainage systems, with detailed engineering and design plans still required for each project.
Each year, CSA allocates approximately $1.6 million from operations for infrastructure projects. The Sea Pines CSA Board of Directors (Board) projected that the community could contribute about $16 million over a decade, resulting in an approximate $35 million need. This estimated amount is essential over the next decade to complete these critical projects; however, the current reliance on the Consumer Price Index (CPI) for budgeting, as specified by Sea Pines’ covenants, fails to account for local economic pressures, such as shifting market conditions, rising labor costs and material shortages.
The Board agreed to a Referendum to secure funding for necessary critical infrastructure improvements. It’s important to recognize that, while the Board has identified a minimum of $35 million needed for essential infrastructure projects over the next decade, the Hydrology and Capital Reserve Studies outline the community’s needs well beyond this 10-year timeframe. |