|| Gavin Kuehn, Property Manager ||
2 Venture, Suite 500 Irvine, CA 92618 || PO
Box 4708, Irvine, CA 92616
Phone: 949.450.1515 ||
Fax: 949.585.0146 || 24-Hr Emergency Phone:
Copyright © 2008 Cameo
Community Association. All rights reserved.
No information may be
duplicated without permission from Cameo Community Association
entrance renovation project is proceeding with only minor
glitches and is pretty much on budget.
The Board has approved several Change Orders that include:
Extending and raising the curved wall on the right side of
the Highlands entrance
Raising the sign walls on the left of the Shores entrance
Straightening the sidewalks on both sides of the Highlands
funds were spent to change the cobblestones in both entrances
when it was discovered that the larger stones that were
initially installed in half the entrances would not be suitable
for the heavy use expected.
made Cameo install new conduit and power cables across Hampden
that was not originally planned.
contractor is currently preparing an estimate to apply stucco to
the slump stone wall on the Highlands side and the split face
block slough wall along the sidewalk on the Shores side, which
will be additions to the original contract.
has been some comment that the light colored stucco is too light
and we are currently working with the architect to select a
slightly darker tint.
Most of the construction will be completed by the end of January
but there will still be some landscaping and irrigation work
continuing into February.
is limited by the funds still available in the Reserve account
and the remaining balance of our loan.
inbound side of the Shores & Highlands entrances are now
Monday, November 20, the
outbound entrance lanes will be closed for construction, and
the newly completed sides will be opened up for two-way traffic.
still on schedule for completion in mid-January 2007.
Click here to see
the latest schedule.
Tuesday, October 17 , our contractor will start saw cutting in both
the Highlands and Shores entrances. On Wednesday, October
18, the INBOUND lanes of BOTH entrances will be closed.
During the lane closure, both inbound and outbound traffic will be
directed to the outbound lanes and there will be traffic cones
separating the lanes. The traffic loops imbedded in the entrances
will be disabled temporarily and the signals will be operated by a
timer, controlled by the City. Once the work is completed in the
inbound lanes, they will be opened and the outbound lanes will be
The contractor has promised to work as quickly as possible to get
both entrances back to normal operations. Please excuse the
temporary inconvenience. The finished entrances will be worth it.
Iceberg roses that are currently planted in our entrances will
not be re-used in our new landscape design. If you are
interested in rescuing these rosebushes, please feel free to
remove them, but only after the contractor has left for the day.
The rosebushes will be available on a first-come first-served
As you can easily see, the long anticipated
replacement of the fence along the south side of PCH and the
update/refurbishment of Cameo's entrances started September 14.
Construction is expected to last 3 to 4 months, finishing around the
first of the year, barring any unsuspected delays or difficulties.
The prime contractor is PHILCO Construction. We were fortunate in having
John Duley, owner of LandScapes, our new landscaping contractor, win the
bid from PHILCO for the subcontract of removing and replacing the trees,
shrubs and irrigation systems for the project. Since LandScapes will be
taking care of the new landscaping after it is installed, they have a
vested interest in making sure the new landscaping is done properly.
The area looks pretty bare right now with the demolition about half
completed. After the tree removal and debris removal is complete
(approximately September 30), PHILCO will be putting up a temporary
chain-link fence with nylon screening until the new walls are
The City inspectors are visiting the site every day and our Contract
Manager, Newport Real Estate Services, is staying on top of the
schedule. The owners of the lot at the south end of Hampden are allowing
PHILCO to use the property for a staging area during construction, thus
keeping a lot of equipment and supplies off our streets.
LandScapes contract awarded
Loan document signed Sep 13
Demolition started Sep 14
Construction ends Jan 2007
Finalists (bid not to exceed $1.3M)
Up to $1.1M
1% Loan Fee
15 years fixed @ 7.99%
$9551/mo payment (budgeted)
Estate Services appointed for construction management @
Approved $1.1M loan for 15 years at 7.99% fixed, funds
drawn on an as-needed basis, from Metro Group Realty
Finance, a division of First Bank.
Progress on Cameo’s PCH Frontage Project (Walls and
Entrances) has been moving along. In addition to our
design and engineering plans being approved by Public Works,
Traffic, Planning, Fire and General Services Departments, we
received approval from the Parks, Beaches and Recreation
Commission on January 3rd for our PCH Wall Reforestation
Plan. The proposal was formally presented to and approved by
the City Council at their January 24th meeting.
We have also completed our work with the City Attorney and
have finalized the legal agreement covering Cameo’s property
along PCH. This was also approved at the January 24th City
The Coastal Commission approved our project on July 27th and
they are sending the Permits approvals to the City of
The Wall and Entrance Committee agreed to select the winning
bidder from three contractors: Hillcrest Contracting, Slater
Builders and Philco Construction for an amount not to exceed
$1,300,000. The Board approved this dollar amount at the
July 25th board meeting.
The Loan Committee also agreed to approve a loan from First
Bank for up to $1,140,040 at the following terms and
conditions. (See Loan Details below.)
The loan fee would be 1% of the loan amount. In today’s
interest rate environment, a fixed loan for 15 years at
7.99%, no recourse and no prepayment penalty, was a
tremendous effort on behalf of the Association by our Loan
Committee. The monthly payments are approximately $9,551.00
based on a $1,000,000 loan amount and are lower than
anticipated. This amount is in our 2006-2007 budgets.
The Board also approved at our July 25th Board meeting a
contract with Newport Real Estate Services to act as the
construction manager representing the Cameo Association’s
interest. The contract is for them to be compensated at the
amount of $3,000 a month during the construction process and
terminate upon City of Newport Beach approvals. The
construction should commence around the end of August 2006
and should be finished during the fourth quarter of the year
with the anticipated time of construction being three to
1. A Non-revolving line of credit for up to 1 year in
addition to the Term Loan described below. Interest rate
would be set with the term loan rate described below.
Payments would be interest only, billed monthly, during the
2. Fully amortized term loan for up to 15 years will start at
the end of construction. Interest rate would be 7.99% fixed
for up to 15 years, with principal and interest payments
billed monthly. Total term is up to 15 years, including
construction phase. There is no prepayment penalty.
3. Loan fee is 1% of the loan amount.
4. A deposit relationship with automatic payments from a
First Bank account will be required.
5. Collateral would be the assessments receivable and
assignable lien and collection rights of the Association.