Reserve Spending For Large Landscape Project [SFH][IL]
We are an 800 home single family community with about 20 cul-de-sac islands that we need to maintain. Over the years, some original trees or bushes have died off, and some have ruts from trucks cutting the corners. Residents have been brining up this issue the past year or so, and it's a valid concern when it comes to property values for those who live in the cul-de-savs.
We got a quote for about 45K to rehab these islands: ranging from adding mulch, new tall grasses, and re-planting trees/shrubs.
We do have plenty of reserve funds but there is debate surrounding if this should be qualified as a budgeted expense vs a reserve expense.
If we were to put this as a budgeted expense (if we did all at once) next year, we would either have to A) raise dues, B) piecemeal the work over a few years or C) combo of both plus cut other important expenses and reserve funding.
I understand landscaping projects typically doesn't fall in the reserve spending bucket, but my thought process is that this is a large one-time project to repair/restore what we had before compared to other annual landscaping projects. What is the opinion here?