From The Board

From the Board: 
 
Association Annual Fees - The Cost of Living Adjustment (COLA) for this year is 1.7%.  As per the covenants the annual association fees will increase by the COLA percentage. The 2015 annual fees will be $378.*

Annual $100 2014 Assessment – Based on anticipated and projected budget needs for 2014, in order to maintain the current service level for property owners, maintain and preserve SWRA assets, a motion to approve an annual assessment of $100 for the 2014 year to be billed with the 2015 annual dues to be effective at the close of business on December 1, 2014, carried unanimously.*

*SWRA Covenants:

7.5 Assessments: In order to provide additional funds for such purposes as may be deemed appropriate by the Board of the Association, the Association may each year assess against each Parcel owned by a Member of the Association an annual assessment (which shall be uniform for all Parcels) equal to a specified number of dollars per parcel. Provided, that so long as the Developer is entitled to elect a majority of the directors of the Association, no such annual assessment may be assessed without the affirmative vote of a majority of the members of the Association; and provided, further, that after Developer has turned over control of the Association, no such annual assessment may exceed $100.00 without the affirmative vote of a majority of Members of the Association present (in person or by proxy as provided in the By-Laws of the Association) at a meeting called for such purpose, and after due notice to all Members.

7.6 Lien: The maintenance fee set forth in Section 7.4 hereof, and the annual assessment set forth in Section 7.5 hereof, together with interest thereon and the costs of collection thereof (including reasonable attorney’s fees) shall be a charge on and shall be a continuing lien (enforceable in the same manner as a mortgage) upon the Parcel against which each such fee, assessment or charge is made.