Our Reserves Are Seriously Underfunded —
Here's What That Means for You...
Current Funding Level - 20%
Capital reserves are the savings every condo community sets aside for known future needs. Florida law requires associations to fund them adequately. The Glades reserves currently stand at 20% of need .
Even 30% baseline funding of need is considered “High Risk.”
"Baseline funding is the riskiest goal that could lead to project delays, a special assessment, and/or financing. ."
- Glades 2026 Capital Reserves Study.
The $7M Gap
The Glades' General Club reserves are currently funded at just 20% of their recommended level — a $7 million gap. Without a clear plan, every owner faces the risk of unexpected, large special assessments. This is solvable, and we want to support the work of getting there.
Key Financial Facts
The Glades current reserves catch-up plans are one hurricane away from serious problems. When reserves fall short, the bill arrives as a special assessment — often at the worst time.
Reserve Funding Gap
$7M Shortfall
General Club reserves: $1.4M held vs. $8.4M needed —Industry standard is 70–100% funding for identified needs.
Section Status
All 11 Sections Below Standard
All 11 condo sections are also below industry-standard funding levels compounding community risk – something we all ultimately pay for, not just section owners
What We Seek:
A credible, Board-led plan to bring reserves to a healthy level — with a clear timeline, a predictable, transparent funding strategy, and regular reporting on risks to all owners.
Replacement Wave
$10M+ Wave
The community faces a wave of expenses will potentially set strategic reserves back further.