May 2024
Owners HOA meeting 5/20/2024
Start times-
Board- 6:00pm
Owners – 7pm
Ending 9:00 pm
Discussed in-depth the state of our financial finances. $250,000 unexpected expenses already spent this year. Over $120,000 on roof repairs, 1 condo & rest townhomes. Also had to repair the front gate motor, the pond pumps, the sump pump for the subterranean garage and more due to substantial rainstorms that hit early part of this year. We start out the year with $300,000 in reserves and we are down to $50,000.
The California mandated balcony inspections is anticipated to cost another $250,000 at minimum.
All owners voted on a special assessments with the options were $300, $5000, $7500 or $10,000. Majority of the vote was for $10,000.
The board Director will investigate how to proceed with a vote Officially to the owners on this amount.
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