Opposition to raising HOA dues above $700 per year
With careful planning and budgeting it should be possible for this neighborhood to operate under a budget of $700 per home per year. Is there risk in this? Yes - however, we as home owners have a voice and can vote. Review the budget they have set for this year - you should have already received it. Now go back and review the financials on evansfarmhoa.org and see where the money went last year. If you disagree, and think the dues should be increased, so be it. This petition is to show the neighborhood that you don't want an increase in what you pay annually. It means you want the NEW board due to be elected in February to come up with a budget that works within the contraints of $700 per home. There are 186 homes currently in the neighborhood - if 94 home owners disagree with the budget 1 of 2 things will happen - The previous year's budget will stay in effect and in fact the dues will drop. That doesn't mean the newly elected board can't still create a budget and try to make it fit into the constraints of $700 per home. There are people in the neighborhood who support the increase - that is their right. Listen to what they have to say - but if the budget for this year is X and it requires us to pay $775 - next year the budget may be Y which might require $800 per year and so on. Budgets are funny things - rarely does a budget amount decrease - usually they decrease because revenues decrease. The budget they want to put in place is for $148,233 - $34,425 to the reserve fund. 186 homes X $75 = $13,950 take that extra money out of the reserve contribution for this year - if KM continues to build out and really does plug in 15 more homes this year - we can use their funds next year to go into the reserve fund - Total build out for this neighborhood is: 211 that's an additional 10 homes after this year: 211 homes times $700 is $147,700 maybe the reserve fund won't grow as quickly as the current board or some residents would like but the reserve fund will grow.