Grand Firs HOA 2014 Septic Reserve Funds Proposal.

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Presentation transcript:

Grand Firs HOA 2014 Septic Reserve Funds Proposal

2014 Septic Requirements  Individual Septic Tank Maintenance Obligation  No separate Reserves Fund for 260 homeowners  Private maintenance & repair of individual septic tanks  Potential special assessments for shared drain field repairs  Community Septic Tank Maintenance REQ  Maintenance required since 2007  Contract bids estimated maintenance and pumping fees between $47.8 and $42.8K for 4 years  Special HOA assessments in 2012 and 2013 (Average$4.8K)  Nine homeowners shared $2.8K cost in Sep2013  Homeowners shared $6.9K cost in 2012

2014 Septic Reserves Proposal  Community Septic Tank Maintenance Proposal  Comprised of 24 community septic tanks  Create separate Reserves Fund for 142 Homeowners  Increase homeowners HOA dues by $150  This is in addition to proposed $115 raise of regular dues.  This amount is set aside in a special reserve only for community septic repairs.  Schedule pumping of 6 tanks/chambers (1/4 of the requirement annually)  Eliminate annual special assessment of septic maintenance contract (between $291 - $691 per homeowner)

Community Septic Lots ** Click in slide below to access full Excel worksheet for 142 lots/property addresses.