The Rancho Santa Fe Post

'Scaled Down' Covenant Club Announced; Price Tag in $10M Range

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Rancho Santa Fe Association Board Director and Covenant Club Chair, Heather Slosar, revealed plans for a 'scaled down' Covenant Club in a Q&A with the RSF Review. The significantly cheaper plan would cost around $10 million according to Slosar.

From the RSF Review:

Has the committee or staff done any other analysis or financial planning?

"Slosar: Staff has been working to establish bids on aspects of the project that were not yet value-engineered to get real solid numbers for a further refinement of the estimator’s report. Additionally, a scaled down version of the Covenant Club is also being reviewed. As far as the financial planning, a pro-forma was completed over two years ago and has undergone only slight modifications. Further review and analysis has been ongoing by staff and members of the Covenant Club subcommittees. The analysis is not done yet, but the new plan will likely be significantly less expensive and more financially attractive than the preliminary design and cost estimate. When this work is complete there is expected to be an option in the $10 million range."

In addition to noting a lower price-tag, Slosar added, "we aren’t spending any more money than was approved by the community to do so."

A community vote on a final plan is expected for September 2016.

Read the full story on the RSF Review