Special Assessment Meeting Notice

WHAT:  Special Assessment Proposal 2014

WHEN& WHERE: 7pm at Brock Community Center 2115 FM 1189

March 20, 2014 Question & Answers with Board & Waddell Excavating

            April 10, 2014 Special Assessment Vote  

WHO: Members of the HOA: 1 Vote Per Property Owner, 1 Assessment Per Property Owner

THE PROBLEM:  When the HOA took over in 2011 the roads had not been regularly maintained.  As a result of this they were in poor repair and quickly deteriorating.   Since 2011 the HOA has spent over $118,000 on road repair.  Of this money spent more than $45,000 has been on patching pot holes.  These are temporary band-aids on the problem.  The past three years the board has spent working to find a plan of action to remediate this problem of playing catch up.  How can we effectively and efficiently solve this problem?   We can continue to throw away $15,000 paving pot holes each year and resurface the streets piece by piece, however this will take over TWELVE years to complete the roads.  This is also not including the maintenance and upkeep of the roads that have been repaved.  

THE SOLUTION:  We have teamed up with Waddell Excavating who repaved Canyon Creek Lane in 2013.  This plan includes the resurfacing of all the remaining 6 miles of road within the subdivision with 1 ½ Hot Mix Asphalt as well as the maintenance of the completed roads.  The repaving of ALL of our streets can be accomplished by a special assessment of only               

 $500 per year per property owner for 4 years, that is just $42 a month or $1.40 per day!

THE BENEFITS:

·         Smooth driving surface

·         Less money wasted patching pot holes

·         Increase in property values:  We’ve seen a huge increase in lot sales & new construction since the HOA took over.  Existing home sales have also increased significantly in the past 3 years (Average sales price is up over $15,000 and price per square foot is up $10).

·         Once all of the roads are completed we will continue to seal and maintain them as needed for around $15,000-$20,000 per year.   Thus freeing up a significant amount of our annual budget for other items & improvements in the neighborhood.  

THE ORDER:

2014-  Year 1:  Canyon Creek Circle

2015-  Year 2:  Canyon Creek Ct. (Cul de saq), Canyon Creek Dr. Ph II E. Canyon Creek, Ph II W. Canyon Creek

2016-  Year 3:  Ph III E. Canyon Creek, Ph III W. Canyon Creek, Winding Creek

2017-  Year 4: North Savage, South Savage

2018-  Year 5: (No assessment this year) Canyon Creek Ct. (Entrance), N Duncan Creek Ct. S Duncan Creek Ct.