The Board of Directors made the decision during the October board meeting to raise the annual assessment to $320.00 for the upcoming year. Unfortunately, due to the extensive amount of damage caused by the ice storm earlier this year, we were forced to spend over $160,000 for tree and limb cleanup and over $18,000 on irrigation repairs to ensure the safety of the community. We also expended $26,512.50 to repair the monument on Chandler Creek Blvd., $10,441.34 to repair the security system at the pool house and we incurred over $26,800.00 in unexpected legal costs. All total, these items came to $214,953.84. At the 2023 assessment rate of $310.00 per household ($471,510.00/year in annual income), this was nearly 46% of our annual budget.
As a result of these expenditures, the Board of Directors made the decision after careful consideration to assess a $115.00 special assessment so that we may go forward with other planned and necessary projects including completing repairs to the pool house deck, replacing landscaping damaged by this year’s earlier freeze and subsequent drought, and maintaining our playground equipment and outdoor amenities.
Since 2005, the Board of Directors has worked diligently to manage our resources and has raised the annual assessment a total of $78.00; so for the past 19 years, there has only been an annual increase of approximately $4.11 on average.
The 2024 annual statement you receive in early December will be for a total of $435.00 per lot ($320.00 for the annual assessment and $115.00 for the special assessment). We understand that the increase in the annual assessment and the additional special assessment may be difficult for some homeowners, which is why we are sending notice as soon as possible so that each household may plan for it. As always, assessments are due by January 1st of each year and are considered late if paid after January 30th. Payment plans are available to those who may need them.