Inspiration Community Update

COMMUNITY UPDATE

Dear Inspiration Owners,

Thank you to those who could join us for our Board of Directors meeting this evening. In accordance with Articles XII, 12.1, and 12.2 of the Declaration of Covenants, Conditions, and Restrictions, the Board of Directors has set the Inspiration Residential HOA assessments rate of $1,978 for 2024 at $989 to be paid semi-annually. Assessment payments are due January 1, 2024, and July 1, 2024.

Linked below is a detailed page with all the information presented at the Board Meeting, including the presentation and handouts. We have included a summary below with some highlights of the meeting.

2024 Assessment Information

Payment Options

2024 BUDGET SUMMARY

Income:

• 14.8% increase in assessments ($1,978 annually) due to Fire/EMS service contract increase.

• Portion of Fire Assessment no longer billing through Wylie NE Sud / Combined billing under Assessments.

Expense:

• Repairs & Maintenance: replacement repairs in parks (sand, kiddie mulch, flags, hammocks); addition of outdoor grill, light replacements at Club Inspiration, Village sign repairs, additional pool furniture, fitness equipment repairs and replacements, and replacement of water heater.

• Contract Services: based on increase in Fire/EMS; new landscape contract with addition of phases; replacement of two recumbent bikes, barbells and medicine balls for fitness center.

• Administrative: based on growth of community; increase in Lifestyle Budget /addition of Sports Committee; addition of management personnel.

• Insurance: based on an estimated 20% increase.

• Other Expense: based on an estimated 20% increase.

• Utilities: based on a 5% anticipated increase.