(The following letter from our HOA Board of Directors was sent Nov. 19 to homeowners.)
2019 Homeowner Assessments
It has been an exciting year for Kings Ridge with great social events, improved entry ways, a new landscape vendor, several large scale landscape projects and much more! We are looking forward to the coming year and more exciting additions and events for the community!
Our community has faced several significant increases in expenses over the past several years. These expenses include an 11% increase in city water and electricity, increased contractor expenses, the Indian Creek retaining wall rebuild, the west screening wall repairs and tree trimming, McKamy entrance turrets, roof, shutters and paint, replacement of dying/dead landscaping, fountain and pond maintenance, ongoing irrigation repairs from an aging system, excessive water usage due to the extreme heat of the summer and several redesigned landscape projects among others.
While the cost of current expenses have increased, the amount of our HOA dues have remained the same for eight years.
Due to our need to manage escalating expenses, maintain the higher standards we’ve already achieved in maintaining/improving our home values, provide financing to new capital projects, and to further enhance the amenities available, with input and dialogue from Kings Ridge home owners attending the October 10 Board of Directors meeting, the Board agreed to approve an increase in dues of an additional $50, effective January 1, 2019.
The Board, along with home owners, agreed to the necessity to make capital investments to maintain our Platinum status and overall property values. Your new assessments of $825 annually will be reflected on your association statement that will be mailed this year prior to the January due date.
As always, you can submit your questions and/or concerns to the Board to FirstService Residential via our HOA Manager, Demarcus Harris at email@example.com.
We are looking forward to a great 2019.
Thank you for your continued support of the HOA and your Board of Directors.
Board of Directors
Kings Ridge Homeowners Association