$400 Assessment for Parking Lot

Our parking lot is in need of repair and we are pleased to announce that repair is on the way! Seeing that the community has not been able to build up a sufficient reserve in the past, an assessment of $400 per unit will be needed in order to repair our front entry way and the road in front of the clubhouse.

The Wingate Townhomes homeowners association has reviewed several strategies and bids to address our deteriorating roads. During April’s board meeting, we carefully evaluated several approaches to complete our needed repairs. We have concluded that the most equitable approach will be to resurface the parking lot (shown by the gray shaded area in the map below), repaint parking stalls markers, the installation of a concrete gutter and an additional water drain. This decision is based not only that we need to do things right the first time but that this repair will last approximately twice as long.

The $400 assessment is due by July 1, 2014. You may pay your unit’s $400 assessment any way you want as long as it is paid in full by July 1st, 2014. If the assessment is not paid in full by July 1st, late fees will be assessed. All you need to do is to inform the management company that whichever extra moneys you are submitting is going toward your unit’s share of the assessment.

This assessment decision did not come easily to the HOA. We know that paying assessments is a burden for many residents, including members of the Board, however this is the only we have to be able to afford the repairs we need. While recent increases to dues have improved our capital reserve and set our community in the right direction we are not anywhere near where we need to be and these increases are still not enough to cover the entire cost of projects like this while leaving a small amount of reserve funds for larger capital repairs on the horizon.

Construction is anticipated to begin the beginning of July 2014 and should take about a week to finalize. More information will be provided as more details are finalized. We appreciate your patience as we work to improve the
community.

Parking Lot Construction Area

Leave a Reply