HOA Fee Increase Discussion
- PCHOA Board
- Apr 11, 2017
- 1 min read
Do you know that the Pine Creek Home Owners Association fees are the lowest in our area? Shadowbrook, Hanover Falls, Ridgemoor all have dues of $100 or more. These fees are used to facilitate improvements or activities in our neighborhood. The PCHOA Board is considering a 25% increase in dues annually over 5 years.
The PCHOA Board requests your comments.
From a review of the January and February meeting minutes, it seems as though the Association has $125,000 in a CD and is considering depositing the same into another short-term CD (3-6 months). CDs are earning 5% apy, and that, at six months the interest amount would be $3,125, which excludes any interest the association has already earned on the currently held CD. The Association is supposed to be a non-profit entity and the interest earned on the invested funds would be "income." Everyone has experienced increased costs on nearly everything in the last three to four years, the Association appears to be adequately funded to handle the annual expenses without losing funds. Accordingly, it does not appear as though…