|Use of Reserves||<– Date –> <– Thread –>|
|From: pam gilchrist (pamgilchrist1gmail.com)|
|Date: Thu, 12 Nov 2020 07:32:00 -0800 (PST)|
Sand River with its 14 duplexes and Common House has significant Drainage and Paths DEFERRED MAINTENANCE. An Ad Hoc team formed six months ago, hired a hydrologist and obtained a report showing the need for extensive work. The team did their research, building on previous aborted efforts. We have a healthy Reserve of about $200,000 with a line item of $5000 every three years for Path's maintenance - due this year but no line item for this additional expense of about $40,000. We will have extra operating funds at year's end due to Covid and unspent funds. The team will not support an assessment or an increase in our HOA fees. But rather, wants to use funds from Reserves to cover the remaining expense. Please give me your thoughts on this. Pam Gilchrist email: pamgilchrist1 [at] gmail.com 505-204-6047 I also have a sweet one bdrm for rent - check out our website
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