GOOD NEWS: LOWER SPECIAL ASSESSMENT FOR LANDSLIDE REPAIRS
The Board of Directors is pleased to inform you that the landslide repairs have been completed at a cost of approximately $1.5 million dollars versus the original project estimate of $1.9 million.
As a result of this savings, the bank loan portion of the Special Assessment will be reduced to $400.00 per calendar quarter and will last for only two years. The original loan cost was projected to be $409.61 per quarter for three years. This is a cost savings of approximately $1,715 per owner.
The Special Assessment loan payments are in addition to your regular quarterly dues assessment which will remain the same at $353.00 per calendar quarter. The Board has worked diligently in approving the budget for 2018 to avoid any increase in regular dues.
Please see the cover letter and approved budget for 2018 for additional information. A hard copy of the entire package has been mailed to all owners.
The Board of Directors wishes you and your families a happy holiday season!