For the second straight year Meadow Walk HOA Fees have been reduced. Those fees have been lowered by an additional $50 and now stand at $500 for the physical year 2011. Fees are down from a high of $600 in 2009. This reduction in the HOA fees reflects an increased scrutiny by the Board of all out-going funds and the renegotiation of many of our cost with the Association’s vendors. This aggressive approach has led to significant savings for the Association despite the difficulties the HOA has faced with foreclosures in the community ove the past few years.
Also in this time period the Board has been able to replenish it’s rainy day fund used to protect against unexpected emergencies. All homeowners fees are assessed once per year according to the by-laws and are due in full on January 31st, 2011. Semi-annual payments will be permitted only to those homeowners who had paid their 2010 HOA fees by July 30th of 2010.