Snow Assessment

March 22, 2010 by
Filed under: Board Notices 

Dear Riverbend Homeowner:

As you are well aware, we have experienced a severe snow season. It is a relief to know that Spring is finally here, however, our budget has been severely impacted from this winter.

The snow budget for the year was $45,000. We have incurred costs in excess of $50,000. This does not include any potential snowfall that may occur in November or December 2010, which is estimated to be $15,000. In addition, the 10″ snowstorm in December 2009 cost an additional unbudgeted $5,000. Based on the above our snow expense has negatively affected our budget by approximately $25,000 and another $4,000 of resultant damage to landscaping and trees.

The Board of Trustees has carefully reviewed the impact of this budget shortfall and has passed a snow assessment on March 16, 2010 requiring each homeowner to pay an additional $200.00 to make up the budget deficit. This amount is payable in eight installments of $25.00 each commencing May 1, 2010 through December 1, 2010.

Enclosed please find eight (8) coupons to be used each month starting May 1st with the revised monthly payment through the end of this year in the amount of $210.00 ($185.00 monthly fee plus $25.00 snow deficit).

Non-payment of this assessment will result in the Association following the normal collection procedures that are followed for any other outstanding dues to the Association. If you are selling your home during this period, you are required to make the purchasers aware of this assessment that is due each month from May through December 2010.

Feel free to contact our management office should you have any questions in this regard.

Very truly yours,

Board of Trustees
Riverbend Townhouse Owner’s Association

Enclosures

Note from the Administrator: The mentioned coupon book is omitted from this posting for obvious reasons.

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