February 22, 2008

Master Association Dues Likely to Increase 25%

Victor Gardens Board of Directors and Community Development, Inc. are working on a final 2009 budget for the Victor Gardens Community Association (the master association).  Earlier this week, two proposals were examined by the Board.  It was determined that more was required in the reserve fund to maintain the growing number of VGCA’s amenities.   Dave Hempel listed a few of those amenities and their expected maintenance schedules:  

1.  2- Gazebos ( Provence and Flora Way)                            $15,000             2008             25 yrs

2.  2- Gazebos painting ( Provence and Flora Way)                  $3,000            2008               7 yrs

3.  2- Gazebos roofing ( Provence and Flora Way)                    $4,000             2008             25yrs

4.  VG North Clock Tower (Roundabout at Rosemary Way)      $20,000            2006             25yrs

5.  Replace clock                                                                  $2,700             2006             10 yrs

6.  VG North Clock Tower painting                                           $3,000             2006             7 yrs

7.  VG North Clock Tower roofing                                            $6,000             2006             25 yrs

8   Add 2 more irrigation systems - Provence and Flora Way

  1. * Future Grantaire Lane irrigation and postal stations also figure into reserve fund calculations.  Maintenance of the proposed foot bridge across Clearwater Creek will be the responsibility of the City of Hugo.

A final 2009 Single Family Village budget has been approved.  It reflects a 25% increase in the amount that the SFV pays to the VGCA.   Therefore, it’s very likely that the Board will approve a 25% increase in VGCA dues for all of the sub-associations.  

In the near future the Board will likely release a final 2009 VGCA Budget.  When it is finalized, it will be posted with the others on the Financials page.