Request to replace Toqua Clubhouse

Request presented by Parker Owen, CFO and Jeff Gagley, Director of Public Works. The existing Toqua Clubhouse is one of the original amenity buildings of the Village. When it was built over 30 years ago, it was intended to be a temporary unit. Since then, the building has become outdated and inadequate, unable to meet current and future needs of Tellico Village. Structural defects and the expense of bringing the current building up to code make it unfeasible to remodel. This project is budgeted at $2,400,000. Parker requested approval of $2,402,878 capital with funding of $1,202,878 from the Amenity Reserve Fund and $1,200,000 of new Bank Financing. This was approved by a vote of 5-2: Tom Lee, Rich Blough, Pat White, Bruce Johnson, and Cap Purvis voted Yes; Steve Schnider & Mike Colacone voted No.