To IronOaks at Sun Lakes Homeowners
Your IronOaks Administrative Staff sincerely apologizes for the later-than-expected mailing of the semi-annual assessment and special assessment statement. Technology is great when it works, but occasionally a glitch occurs at the most inopportune time.
The $650 assessment is one half of the annual assessment approved by the Board on November 18, 2009, when the 2010 budget was approved. The assessment is used to pay for all of the operating expenses and capital purchases by the Association and a contribution to the reserve fund for future replacement of assets.
At a Special Board Meeting on June 2, 2010, your HOA Board approved three resolutions. The first resolution cancelled the Amenities Purchase Agreement signed on March 11, 2010. The second resolution approved the signing of a new Amenities Purchase Agreement with new terms. The third resolution approved a $200 special assessment to be used to make the additional down payment needed at closing of escrow on the new purchase agreement for the amenities. (The special assessment of $1,000 approved by a vote of the homeowners was cancelled with the cancellation of the March 11, 2010 purchase agreement.)
The due date for the statement homeowners received today, June 25, 2010, is July 1, 2010. Board policy indicates assessment of interest will not take place for thirty (30) days from the July 1, 2010, due date. Section III of the Assessment Collections Policy states: “Assessments are delinquent if not paid within 45 days (the ‘Delinquency Date’).” Section VII spells out the Notification to Owner of Delinquency.
A copy of this Policy will be at the clubhouses and is now on the IronOaks website under Governing Documents.
Bob Deken
Treasurer of the Board
Rev 1