The HRARA Board of Directors have been meeting online and communicating regularly to monitor the decisions being made at state and local levels with regards to the reopening of businesses and recreational facilities. The recent decision to delay re-openings in Northern Virginia until at least May 29 means that we will not be able to open on Memorial Day weekend this year. Future guidance from the state, the county, and the health department will determine when and how we will be able to open this season and although that timeline is unknown for now, we do expect to open the pool this summer and anticipate that it will be a gradual process with restrictions in place. During the past several weeks we have also been reviewing the plans of other local pools as well, and our own planning and organizing for various scenarios is underway. The Board will be meeting online again the week of May 17th to continue discussions and firm up our plan. As soon as a decision is made about dates and other aspects of opening of this season we will immediately notify all shareholders.
We will not be able to finalize our rates for the 2020 season until we are able to determine when the season will begin and what it will look like. Our management company will be prepared to have the pools ready to open. As shareholders of HRARA, it is important to recognize that we are all owners of the facility. Our dues pay for the majority of the costs associated with keeping the pool a functional part of our community. Even if we are to open late this season, we anticipate our expenditures to be approximately $130,000. This includes costs for our pool management company, operational costs (electric, water, repairs, landscaping, etc.) and administrative costs (insurance, permits, etc.). We all must ensure that funding remains at a sufficient level so that we can maintain the facility now and for years to come. As part of the discussion of our finances, the board voted to initiate a moratorium on the repurchase of shares beginning May 8, 2020. All shareholders will be notified when the moratorium is lifted.
We have also discussed and made some decisions pertaining to pool operations and social activities. We would like to allow our members to use the facilities as much as possible, and as long as it can be done safely and is permitted under the directions of state and local government. As emphasized in our prior messages, the safety of our members is our priority. For this reason, guest passes and deck reservations will be suspended until further notice. We have also decided to suspend all of our regular social activities until we are able to ensure that they can be done safely. We all hope that things will improve as we move through summer, but until then we felt that these steps were necessary. Additionally, the Northern Virginia Swimming League (NVSL) announced this past week that they are cancelling the 2020 season. We will all be ready to cheer on our Hurricanes in 2021!
We will continue to communicate decisions and information to all of you as we approach the start of summer. Information about the Pandemic Assistance Program will be forthcoming. This program is designed to provide some financial relief to our members that have been impacted by the pandemic. We again ask that you all remain understanding of this unprecedented and difficult situation. We are all working to try and create the best possible season under the circumstances. We remain positive about the 2020 season and hope that you are all looking forward to going to the pool as much as we are.