We know that this is not what you want to hear. We need to make sure that the HOA can maintain the property and appearance for everyone’s benefit.
· The HOA has only increased dues $10 over the last 30 years.
· The requirement is to have an approval of 75% of all homeowners
· The increase would only cost $2.50 per month.
· At the current rate we will be running a deficit by the end of next year, only a $500 cushion this year.
· The water and insurance expenses have gone up significantly in the last few years.
· The HOA board does not want to issue a “Special Assessment” ever to residents since these are usually much higher bills.
· There is a Fiduciary duty of the board to keep a reserve to make sure we do not have the Special Assessments mentioned above
· The HOA needs to maintain common areas, irrigation, community events, website and take care of any unforeseen damages that may occur due to nature or accidents.
You will be receiving a ballot in the mail soon to vote to approve the increase and to update the CC&Rs to reflect the increase. The HOA board unanimously is urging you to approve this to avoid issues next year.
If you have questions, please email parkatmerryfield@gmail.com.
Thank you.
Bryan Smith—HOA President