At the annual meeting in February, the Board proposed a 10% dues increase for 2015 ($192.50) due to the added expense of the retaining wall and other capital improvements planned for the next ten years. After a discussion of the economic impact on homeowners, several in attendance requested no rate increase in 2015 for those who can pay the 2014 and 2015 Special Assessment (SA) in full by May 31, 2015. With that in mind, we revised the dues plan starting April 1, 2015:
- $175.00/month for homeowners who pay the 2014 and 2015 Special Assessments by May 31, 2015.
- $183.75/month (5% higher) for those who pay the 2014 Special Assessment by May 31, 2015, but need a payment plan for the 2015 Special Assessment. The extra $8.75 per month through December 2015 will reduce the homeowner’s 2015-SA by $78.75; therefore, the first 2015-SA payment will be $121.35 due December 31, 2015.
- $201.25/month (15% higher) for those who need to maintain the current 2014 Special Assessment payment schedule and need a payment plan for 2015. The extra $26.25 a month through December 2015 will reduce the homeowner’s 2015-SA by $236.25; therefore, the first 2015-SA payment will be $263.75 due March 31, 2015.
- $201.25/month for those who have not responded to the retaining wall survey unless Leisha Shelton of Acclaim Management can verify which dues plan is assigned to your unit(s) before March 31, 2015. She will begin contacting homeowners directly starting Monday, March 16, 2015.
Below is the 2015 Special Assessment installment plan:
- $1900.00 – 2015 Special Assessment installment payment due dates:
- 2015 Special Assessment Payment Slips
- $200.00: December 31, 2015
- $300.00: March 31, 2016
- $300.00: June 30, 2016
- $300.00: September 30, 2016
- $300.00: December 31, 2016
- $300.00: March 31, 2017
- $200.00: June 30, 2017
The Board is working toward a revised budget that is more specific for the next three years. We anticipate that dues will increase more than 15% for all homeowners starting in 2016 to adequately save for upcoming projects. As soon as we can, we will post those ideas on this site.
As usual, we ask that you follow the THOA site via email. Though Leisha Shelton of Acclaim Management will gladly forward you THOA posts, you may not receive them the same day they go live, especially if the post is on a weekend. We are happy to have 20 followers now, but we would like full participation this year. Homeowners following the blog whose emails can be confirmed by Acclaim Management will not receive forwarded blog posts via Acclaim starting July 1, 2015.
Once again, we invite homeowners to become a member of the THOA Board of Directors. We would be delighted to meet you at future meetings, or contact Leisha of Acclaim Management if you are interested. She will forward the email to the Board.
Finally, we are up to 26 responses to the retaining wall survey, but we really need to hear from everyone. As explained earlier in this post, Leisha Shelton will contact you directly starting Monday, March 16, 2015, if we do not have a response from you at this time.
Thank you to those of you who have already responded, and we look forward to hearing from everyone else before the end of the month.
Sincerely – Timberidge HOA