1. 2019 Dues and Road Maintenance Covenant Fee Collections – The Board of Directors is pleased to announce that as of this date there are only 9 property owners out of 179 that have not paid. This is a delinquency rate of 5 percent. The national delinquency rate for homeowners associations is 10 percent.
2. Approved 2020 Budget – Attached for your information is the 2020 budget as approved by the Association membership at the August 24, 2019 Annual Meeting.
3. 2020 Association Dues – As before, the Association’s dues include the annual road maintenance fee included in the covenants to every deed in the community. Any property owner who declines to pay dues, must still pay the road maintenance fee by June 1. Since this contractual fee is adjusted annually as determined by the Consumer Price Index (CPI), the amount of the 2020 roads fee will be announced next Spring when CPI figures for 2019 become available.
As a reminder, at the Association’s Spring Meeting on May 28, 2019, the membership approved the first increase in Association dues in over a decade. The 2020 dues structure is as follows:
Developed Properties (property with a house):
– $180 for 1stdeveloped property regardless of occupancy
– $100 for each additional developed property regardless of occupancy
– $60 for each undeveloped lot. This is a discount from the Covenant Road Maintenance fee and is offered to members who own only undeveloped lots, or who also pay regular dues and who pay by June 1.
The deadline for payment of dues will continue to be June 1. An invoice will be sent to all property owners in April 2020.
4. Summertime Security – Over the winter, the Board will be reviewing the hours of patrol to determine the effectiveness of the changes made for 2019. If you have any comments, please forward them to email@example.com
In closing, I want to wish everyone an enjoyable and safe holiday season.
President, CPBA, Inc.