REMINDER

Dear Homeowners,

To be fully transparent, we wanted to provide you with important financial information regarding our community. The Finance Committee is recommending a 5% to 10% increase in the Annual Assessment for 2024. This recommendation is based on carefully analyzing projected revenue and cost increases for the coming year. As the last Reserve Study recommended, this increase would ensure that Reserve and Capital Improvement funds are adequately funded.

We understand that any fee increase can burden our members, and we want to assure you that we are taking this recommendation seriously. The additional funds would cover necessary expenses such as maintenance, repairs, and improvements to our community's amenities and infrastructure. We also want you to know that the Board of Directors recently renegotiated the management fee with Spectrum. As a result, we were able to save $9,600 a year, which is great news for our members! Those savings can now be directed to projects. Our association strives to provide a high level of service to the community, and this increase would help us achieve that goal.

It is important to note that this increase is not being recommended lightly. We believe it is a proactive measure to ensure that we maintain our financial stability and continue to provide the services that our community has come to expect. We will work to ensure that the increase is fair and reasonable.

We invite you to attend our upcoming Board of Directors meeting to learn more about this recommendation and participate in the important decision-making process. Your presence and input are valuable to us, and we appreciate your support and cooperation. The Board appreciates all feedback from homeowners regarding the proposed 2024 budget. Please remember that the Board of Directors votes on the budget's final approval and sets the 2024 assessments with this feedback in mind. 

Thank you for your consideration of this recommendation. We believe this increase is necessary for our association's long-term financial health and our community's continued well-being.

Sincerely, 

The Board of Directors