Master Plan Budget Summary 9 Years, 7 Months ago
Marc has posted this master plan budget summary on the Southlandshoa
Let me jump in here... The GOAL as proposed by the board is the "Cadillac package", or, for the younger folks on the board, the "Lexus"... And comparing our dues and what we do with it to OTHER HOA's is just silly, especially without considering age of the subdivision, number of homes in it, and lots of other details about the HOA - as well as home prices in those subdivisions relative to their current values.
Southlands residents please know that the Board is making every effort to manage the budget for the community to the best of our ability. We look for many ways to cut back on costs that could directly affect each of our annual HOA dues. With that said the “Master Plan” is derived from feedback each of you gave on your surveys as what you wanted to see here at Southlands. We developed a budget that would assure each of you not too much “pain” when it came to increasing the funds available to accomplish our goal. Even with the proposed increases over the next few years, we would be nowhere near the dues of other communities.
Ok, back to the show...
No, you were asked for a detailed summary of each line on the proxy form and what that particular item would cost, but again I digress...
In our meetings I’ve had many residents express that we should show everyone what that is.
Southlands plan has NO "rate increase" GUARANTEE, and uses just 1.5% inflation...1.5%. Energy costs will bring the cost of the tennis lights and the pool pump/filter up by more than that this year alone...
We’ve been able to compile the list via resident Preston Fitcher, a licensed agent, who gathered this information for us on the neighborhoods around Southlands. Please note the below HOA Dues for each Subdivision and also not that our plan is to not even get to the expense level of the others, and you would have all new amenities to enjoy.
Interjecting again... the spreadsheet handed out, while only allowing for 1.5% inflation, would - if implemented, actually allow this entire project to work with $360 dues... but the increased and "surpluses" created by the schedule above allow that 1.5% inflation factor to look good...
2008 = $330
2009 = $360
2010 - 2014= $395
2015 – 2019 = $400
2020 – With a slight excess and reserve that’s building, at this point we would most likely be in a position to pay off any funding we needed for our project, if the neighborhood elects to do so.
2020 – 2024 = $410
I read that as Southlands TODAY (or last year at 300.00) being a better VALUE so a 200,000 home here, with swim tennis, is a better deal than a similar 200,000 home in Woodlands...
Foxfield Farm - 450
Sturbridge - 400
Laurel Brook - 460
Northbrook Manor - 700
Autumn Glen - 350; no swim/tennis
Waters Lake - 480; no swim/tennis
Bradshaw Farms - 450
Newcastle Farms - 650
Crabapple Farm - 350; no swim/tennis
FoxField Farm - 450
Kingsgate - 400
Woodlands - 700
Riverside - 450
Weatherstone - 450
There are at least 400 homes supporting the amenities in Bradshaw, too... so the chart above is just silly. Comparing Apples to Pomegranates. Yes, both red.. but