Robin Meadows Home Owners,
The purpose of this letter is to solicit your response and input regarding serious financial issues confronting the Robin Meadows Homeowners and the Homeowners Association.
We are currently confronted with a serious shortfall in the Homeowners Association funding necessary to cover planned and required maintenance over the next several years. The original CCR’s and HOA bylaws require the association (which is all of us) to provide general maintenance and periodic large-scale repairs to many of the external features of the individual houses and condominiums. These periodic repairs include Roofs, Gutters, Siding and roads, Tree trimming, etc.
The CCR’s also require us to do periodic professional studies to evaluate our general maintenance and reserve budgets so that we can properly fund the ongoing monthly maintenance and the large-scale periodic projects. The Board has posted the financial details on the Robin Meadows Home Page for you to review and links to the financial spreadsheets are below.
To summarize the situation for those who don’t wish to go through the details of the financials – Our current HOA monthly dues is not sufficient to cover the general maintenance budget and large-scale projects that we will be facing in the years to come.
Fortunately, we were able to cover the major roofing project with funds that were in the reserve budget, and we will hopefully have sufficient funding for the cleanup projects associated with that project with no special assessment cost to the homeowners. (We dodged a bullet.)
So, how do we handle the financial shortfall? We want your response and input so that we can make a decision moving forward. Many of the things that the board is considering at this time are as follows:
- Raise the monthly Dues by the maximum amount allowed by the CCR’s without homeowner input (20% or $54.00, totaling $324.00 monthly) and then raise the dues in years following based on the outcome.
- Partial funding of major projects as they come due and issuing special assessments to the homeowners to cover the shortfall.
- Homeowners to initiate their own projects with some support from the HOA when possible. However, if you choose to take on projects involving the exterior of your home, any changes must comply with the CCR’s specifications – including aspects such as color, dimensions, material, etc. ARC forms are available on the HOA website and should be submitted to the board for approval before starting any work.
- A fresh look at the responsibilities of the HOA. This would require a possible rewrite of the CCR’s and Bylaws involving our attorney and the State of Oregon. This would also require a vote from the homeowners that would include a 75% majority vote in favor. One suggestion would be that the HOA would not be responsible in the future for major projects like roofs and siding and would only do road maintenance with special assessments. The HOA would continue to provide roof moss treatment, siding pressure washing, and yard maintenance.
- The HOA would act as a COOP for seeking bids for projects, utilizing the scale of multiple owners to reduce cost.
These are a few ideas and we need your input.
Robin Meadows Board of Directors
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