Good news from aina nalu!
THE BUDGET
The aina nalu Board of Directors approved the 2101 budget, and it was all good news. The AOAO continues to fund reserves for future capital improvements/replacements and meets operational needs; it also allows maintenance fees to be reduced by approximately 6% in 2010. This is good news for owners who have been concerned about the financial condition of aina nalu's AOAO and about their cost of ownership.
GOING GREEN - Savings today, future payoff & good environmental citizenship
Solar panels are being installed on the roofs - there will be 700 panels that will reduce the electricity and gas bills over the next 6 years. At the end of 6 years the AOAO has the option to purchase the system, at which time we could have a ‘free source' of electricity for AOAO/common areas. The plan is to use the cost savings to fund the purchase of the system at the end of 6 years. There is an option for a second phase of panels that could reduce electricity bills for individual condo owners as well. Not only does this reduce power costs, but it reduces the dependence on foreign oil - which is good for the country!
BENEFITS TO THE MAUI COMMUNITY
Last but not least, the Charitable Funds Committee has approved recommended allocations of $2,500 to be donated to the Lahaina Complex After School Enrichment Tutor Project and $1,000 to the Maui Food Bank. We are pleased that aina nalu can contribute to these two community organizations that meet important local needs. This Fund was established by Ironwoods, the aina nalu Developer, so the donations do not come from AOAO funds.
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