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APHA-funded reserve studies show $8.7M need among participants; total multifamily repairs estimated $15–$20M
Summary
APHA paid $170,000 for 10‑year capital reserve studies covering 27 HOAs (391 units); participating complexes project $8.7 million in capital expenditures over 10 years. Staff extrapolated nonparticipating multifamily units would add another $7–$12 million.
Emily Mayon, APHA housing policy analyst, summarized capital reserve studies that APHA commissioned and paid for in 2024–25. "APHA allocated a $170,000, for the studies," Mayon said, describing the work RD3 completed after on‑site visits in summer 2024 and final reports delivered in May 2025.
Mayon said 27 of 50 eligible HOAs participated (391 units out of 964 eligible units) and that participating HOAs face a projected $8.7 million in capital expenditures over the next 10 years. Using the studies to extrapolate possible needs for nonparticipating multifamily units, staff estimated a total multifamily capital burden of roughly $15–$20 million over the same period.
The analysis showed that nearly 70% of projected capital costs are tied to the building envelope—roofs, siding and foundations—while immediate health-and-safety items across those HOAs totaled about $160,000. RD3's condition ratings ranged from very good to poor, with most properties in average or good condition for their age.
Mayon framed the studies as a budgeting tool for HOAs and a basis for policy dialogue about incentives, financing and education to prevent deferred maintenance. She told council that roughly half the participating HOAs were predicted to be in positive reserve balance if they completed recommended repairs and maintained contributions.
Council discussion that followed focused on how to help HOAs finance large envelope repairs and how APHA might incentivize or match funds to prevent reserve depletion.
