Greetings from the Board – September 2025

Greetings from the Board

This month we are preparing the 2026 VCA annual budget so now is a good time to provide members a sense of what goes into the workings of the VCA finances and budget process.

VCA Financial Management Process

Your Finance Review Committee, the First Service Residential (FSR) Accounting Professionals, and the FSR Management Staff all work diligently and ethically to assure responsible financial management on behalf of all the members of the Vistoso Community Association.

The accounting team at FSR carries out the day-to-day financial activities and FSR also provides management services for the VCA.  The Finance Review Committee fulfills a critical oversight and approval role providing a monthly review, analysis, and approval of the FSR prepared financial statements and supporting materials. Additionally, as Treasurer, I am responsible to review and approve all Invoices for vendor payment. A snapshot of the financial condition is available for review in the minutes of the Finance Review Committee meetings. The VCA Treasurer’s Report and detailed VCA financial reports are emailed to members as part of the General Session Board Meeting agenda and meeting materials.  Here are the fundamental financial metrics submitted to the Board of Directors each month:

•     Operating Fund Balance
•     Current and Foreseen Cash Needs
•     The Reserve Fund Balance
•     Liquidity Strength
•     Accounts Receivable
•     Accounts Payable
•     Total Income
•     Total Expenses
•     Significant Financial Issues

Budget

The Finance Review Committee is responsible for overseeing the preparation of VCA’s Annual Budget in concert with FSR professionals; the Committee prepares a projection of financial needs for the upcoming year.  The Committee first approves the Budget at the Committee level before presenting it to the Board of Directors (BOD) for approval and adoption at the October General BOD meeting open to the membership.  After the BOD approval, the Budget becomes the road map for upcoming financial matters for the year ahead.

Click HERE to view the VCA Budget and Reserve Study webpage.

Reserve Study

Every year VCA retains the services of a Reserve Study professional who reports information regarding useful lives and replacement cost of all the VCA’s common assets. Common assets reviewed include park equipment, parking lots, playgrounds, and other amenities. Once the report is received, FSR professionals and the Finance Review Committee evaluate asset replacement needs and include a monthly contribution to the Reserve Fund in the budget. This contribution to Reserves totals $70,833 per month for the current year. The current Balance of the Reserve Fund is over $3.8 million, the bulk of which is under the investment management of Morgan Stanley and FSR professionals.

Finally, the monitoring of VCA financial performance throughout the budget year is performed by FSR management and is monitored by the Finance Committee and your Board of Directors monthly. The results of that review are reported to VCA membership in the form of a monthly Treasurer’s Report, and inclusion of VCA’s full financial statements in the monthly General Board meeting materials. The goal is to keep the VCA in a strong financial position through 2026 and beyond.

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Joe Affinati – Treasurer

Snapshot – September 2025

If you missed the August 28, 2025 Board of Directors meeting, here are the highlights of the Manager’s Report. The next Board of Directors meeting is scheduled for September 25, 2025.

Streetlights

The Town of Oro Valley Council at the August 13th meeting approved the conveyance agreement for the two streetlights along RVB near Honeybee Park.

Drainage Projects

27 Mile – The trailhead is now open for members. The path is in the Vista Mirabella neighborhood between N Big Wash Overlook Pl and E Scenic Overlook Pl. New signage will be installed shortly and the parking pad will be redone in the fall.

Big View Ct. Channel – Sky Island Restoration was selected to complete this project. The project is in the permitting process with the Town of Oro Valley. Project to commence late summer to early fall.

Bridal Veil – This project is currently on hold until the completion of the 27 Mile and Big View Ct. projects.

2025 Capital Projects

The following capital projects have been slated and budgeted for 2025:

• RVB streetlight removal – Project completed 1/30/25.
• Irrigation repairs along Desert Fairways and Innovation Park Dr. – The board has selected Northwest Landscaping/Yellowstone for this project.
• Drainage repairs – 27 Mile Project has been completed, and trail is open to members. Big View Ct project is in the permitting process with TOV.
• Wall, restrooms, ramadas painting – The board has selected Facelift Painting. The project includes some walls in the Las Colinas, Mesquite Crest, Reflections, Sonoran Vistas, The Overlook neighborhoods and restrooms & ramadas at Hohokam and Wildlife Ridge Parks.
• Replace playground equipment at Somerset Canyon Park – The board selected to replace the current equipment with a Columbia Cascade Model.
• Roof Tile Renovation for Wildlife Ridge, Hohokam Parks and Bell Tower – The board selected Roofsavers to repair the Bell Tower tile roof, replace tiles on the Wildlife Ridge Park Ramada and clean off the facilities roofs at Wildlife Ridge and Hohokam Parks. The Bell Tower located on RVB
• and Vistoso Highlands Dr. has been completed.
• Asphalt replacement for parking pad located in Mirabella near 27 Mile and Siena’s roads.
• Drinking water fountain replacement – The board approved four drinking fountains to be
• replaced at 27 Mile, Big Wash, Sunset Ridge and Somerset Canyon Parks.

Sealing & Crack Fill Project

This project is currently out to bid. for Siena’s roadways and the parking pad in Mirabella. Bids will be solicited for these two locations and presented to the board for review at the September board meeting.

VCA Paint Palette

The new paint palette is available on line at the Dunn Edwards website https://www.dunnedwards.com/colors/color-ark-pro/rancho-vistoso-mastercommunity/approved-color-palette/ or the click HERE to view the VCA Paint Colors website to download the PDF.

VCA Office Move

The site office moved two doors down from our previous location in the Mountain View Plaza on Rancho Vistoso Blvd. Our new suite number is 111. The BMO bank is expanding into our present location, and we were asked to relocate. The landlord covered the cost of the relocation.

Community Events

The fall yard sale is scheduled for Saturday, October 18 from 7:00 AM to 2:00 PM and the fall event is scheduled at Sunset Ridge Park on Saturday, October 25 from 8:00 AM to 11:00 AM.

2026 Budget

The 2026 budget is being developed for the Finance Committee’s review. The board will be adopting the budget at the General Session meeting scheduled for Thursday, October 30, 2025.

Did You Know – September 2025

When did Oro Valley Marketplace open?  What were the original stores when it opened?

Oro Valley Marketplace opened in October 2008.  The center boasts 800,000 square feet of retail, restaurant, and office space.  The Center, is located at the southwest corner of Oracle Road & Tangerine Road. It included Wal-Mart Supercenter, Best Buy, Cost Plus World Market, Danny’s Gourmet Market, DSW, Famous Footwear, Petco, The Keg, Tilly’s and Ulta.  By the end of 2008, Century Theaters, Olive Garden, and Red Lobster opened. Current tenants on the marketplace’s big-box east side are Petco, DSW Shoes, Ulta, new tenant Dollar Tree, and Fork N’ Fire. The center lost the former Ashley / Lounge by Levitz store and Red Lobster earlier this year. Over the past several years, Big Lots, Dick’s Sporting Goods, Tuesday Morning, Chase Bank, Best Buy and Cost Plus World Market, Famous Footwear, and Tilly’s have closed.   

When did Oro Valley Town Council approve the final revitalization plan for Oro Valley Marketplace?  How long did it take to approve the plan and what were some of the issues facing the project?

The final plan was approved by Oro Vally Town Council in November 2022.  Town West Realty (with partner HSL Properties) to acquire the 114-acre Oro Valley Marketplace from Phoenix-based Vestar in Sept 2019.   It took about 4 years for the full plan to be approved.  Increased traffic and view protection (building heights and setbacks) were some of the most voiced issues the developer needed to address. As a result, apartment heights were reduced from 4 and 5-stories to 2 or 3-stories to preserve the Tangerine view corridor.  At the time of Town West’s acquisition, 30 percent of the site remained undeveloped and the remaining 70 percent included numerous vacant storefronts.  According to Staff and the applicant, the population density in the area never increased to the point necessary to support the Marketplace. Their solution in 2020 was to reimagine the center to accommodate a mixed-use development comprised of two hotels (possibly three) and two apartment complexes with retail and a central gathering place.   

What is included in the revitalization plan and what is the timing?

Improvements to the shopping center will be funded by the owners, Town West Companies, and include two new apartment communities – one located to the south of Tangerine across from Oro Valley Hospital and the other along Oracle.  Initially, Oro Valley Town Council stipulated that Town West must first build and open the tax-generating hotel before moving on to the proposed apartments. However, due an unforeseen turn in market conditions, it is not economically feasible to start construction on a hotel at the time.  To keep this project progressing, Town Council agreed to allow the construction of the Encantada apartments along Tangerine Road.  Construction is to begin in September 2025.  In addition, The Picklr, a Utah-based pickleball franchise company, plans to open an 11-court, 30,000-square-foot pickleball facility (former Best Buy location) in September 2025.  When construction is complete, the new mixed-use development will contain the following: 

• Tangerine apartments – 320 units on both sides of Water Harvest Way
• Tangerine Hotel – HSL Properties has opted to develop 72 apartment units (included in total number above) in Development Area 2 rather than the hotel or commercial option, as permitted by the Master Development Plan
• Oracle Apartments – 152 units located between Water Harvest Way and Oracle Road
• Oracle Hotel (tentatively Hampton Inn and Suites) – 105 rooms located adjacent to the former Red Lobster
• Entertainment District Apartments – 48 units
• Entertainment District Hotel – to be determined

Special thanks to Town of Oro Valley’s Bayer Vella, Planning Manager and Michael Spaeth, Principal Planner, for their contributions to this article.  For the most current info on this project go to OVprojects.