Publication Date: September 19, 2023


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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

BOARD OF DIRECTORS MEETING


WHEN: Thursday, September 21, 2023, @ 6:00 PM (CDT)


NOTE: This is an Open Meeting that will be held on ZOOM!


You can join the meeting from PC, Mac, or Apple/Android at:

https://spectrumam.zoom.us/j/91816735478?pwd=bGlldHVwZExYSEoyb1FHVjJkVjd2UT09

Password: 582032


To join via phone only, use one of the numbers below:

US: +1 346 248 7799 or +1 669 900 6833 or +1 719 359 4580 or +1 253 205 0468 or +1 253 215 8782 or +1 408 638 0968 or +1 669 444 9171 or +1 386 347 5053 or +1 507 473 4847 or +1 564 217 2000 or +1 646 876 9923 or +1 646 931 3860 or +1 689 278 1000 or +1 301 715 8592 or +1 305 224 1968 or +1 309 205 3325 or +1 312 626 6799 or +1 360 209 5623

Meeting ID: 918 1673 5478


International numbers available:

https://spectrumam.zoom.us/u/adBx5wzkUz


Agenda: