May 2008 HOA Board Meeting

The HOA Board will be holding a special meeting on May 19th at 6:30 p.m.

Homeowners will receive a notice letter no less than 10 days and no more than 20 days prior to the meeting. The meeting location will be the pool. Please look at the posting at the mailbox in case the meeting has to be moved due to weather.

The purpose of this meeting is to vote whether to include the annual insurance in our monthly dues or to keep the annual insurance payments as a special assessment.

Here is how the annual insurance premium is currently handled. The association receives its annual insurance premium bill in the spring. The HOA pays it, analyzes what is owed by each homeowner, and homeonwers reimburse the association. Letters are mailed to every homeowner in early summer, requesting that the payment be due sometime in the fall. Payment options are usually available to homeowners: 1, 2, or 3 payments can be made, as long as payment is received in full by the designated date stated in the letter. Since 1984 when RWC1 opened, this is how the insurance has been paid. This is not new news to homeowners of RWC1.

It has been proposed to the board that the HOA raise monthly dues to cover this insurance premium. The annual insurance premium is not a fixed amount. There are many factors that determine the premium and the amount due varies year to year. It is being proposed that instead of the homeowners paying their share of the insurance at once during the fall, the cost be spread out over the year and become part of the monthly dues. This will increase monthly dues, but not require a special assessment fee. Since the premium is not fixed, this will most likely result in monthly dues fluctuating yearly.

The HOA Board is encouraging all homeowners to attend this special meeting to vote on the proposed changes. If you cannot attend, please return your ballot that you receive in the mail or vote via proxy.

If any of the homeowners have questions or comments before the meeting, you can comment to this blog entry. Please add your unit number, as we'd love to know who you are!