What must a declarant provide for the proper functioning of a CIC?

The correct choice is the requirement for a reserve study, which is essential for the proper functioning of a Common Interest Community (CIC). A reserve study is a financial planning tool that helps community associations assess the costs of future repairs and replacements needed within the community. This study provides an analysis of the physical condition of the common areas and structures, as well as a projection of the remaining useful life and replacement costs of those components. By having a reserve study, a community can ensure it has adequate funding to maintain its infrastructure over time, which is crucial for the longevity and sustainability of the CIC.

In contrast, a copy of the plat map, homeowner contact details, and a timeline for board meetings, while helpful for various administrative purposes, do not directly contribute to the long-term financial and operational health of the community in the same way a reserve study does. A plat map is essential for understanding property boundaries and layout but does not address future maintenance needs. Homeowner contact details are useful for communication but do not impact the overall functioning of the community's physical assets. A timeline for board meetings aids in governance but lacks the financial foresight that a reserve study offers. Therefore, the reserve study is fundamental to the effective management of a Common Interest Community.