HPV Townhall Meeting - Nov. 14, 2007
The CRCA Board of Directors has scheduled a Townhall Meeting at 7:00pm on
November 14 at the High Plains Environmental Center. The main purpose of the
meeting is to inform HPV property owners of the increase in their HOA dues
that is imminent with the 2008 budget, which the Board is currently
preparing for presentation at the Annual Meeting in December.
The Association's expenses went well over budget in 2007. To no one's
surprise, Snow Removal was the one line item that was totally off the charts
in '07, coming in at $50,000.+ over budget. Administrative Expenses, Post
Light Maintenance, and Sprinkler Repairs were also significantly over.
Additionally, a necessary but costly Audit threw the Association even
further in the red. To sum it up, 2007 was a very expensive year!
This past summer, the Board received bids on landscaping improvements to
both the Carefree Cottages and Independence Park, but the money wasn't there
to accomplish either. Due mainly to the unrealistically low HOA dues that
were initially assessed, the Townhome Reserve Fund continues to be
underfunded. The Board has ordered an update to the Aspen Reserve
Study/Townhomes to more accurately ascertain what future townhome
assessments need to be, based on current fund levels.
The '08 budget still needs some tweaking, but it's fair to say that HOA dues
will be going up, especially for townhome owners. The Townhall Meeting on
Wednesday will give property owners an opportunity to ask questions and
voice concerns about not only the increase in dues but also other issues the