Dear Fall Creek Residents,
The Full Reserve Study for Fall Creek HOA done in March 2018 has been received by the board and shows a shortfall in the amount of dollars needing to be put aside for future repairs and replacement of community assets.
In order to keep the Reserve Fund solvent and properly funded, a Dues increase of $140.00 starting in 2020 will be implemented. This will bring Dues to $1090.00 for the community assessment for 2020. The Board sees the increase as necessary to keep our ongoing commitment to the neighborhood with regular maintenance, repairs and improvements as our just mature community goes forward.
We saw several examples of repair or replacement in the electrical systems, lighting for monuments, tennis courts, play areas and the pools. Slide tower repairs that were not expected and overall maintenance of the pools. Landscaping costs that continue to challenge us. Showing us that there are costs that will continue to change as we maintain the neighborhood in the fashion we are accustomed.
Regards,
Board of Directors
Fall Creek Homeowners Association, Inc.
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