2025 Assessment Increase Information

(This notice has been mailed out to all homeowners, but we are including it here for those who did not have a chance to read through the budget package)

Effective January 1^st, your HOA assessment will be increasing from $116.00 per month to $137.00 per month. We understand that this is a significant increase, so please take a moment to read the explanation provided below detailing why this assessment increase is necessary.

The Board met on September 30^th and went through the Association’s 2025 draft budget in detail, reviewing each budget item line by line. Homeowners who attended would have been able to view the budget in real time along with the board, including historical and anticipated expenses for each line item, and to provide feedback and comments during the Open Forum portion of the meeting.

This budget is made up of 61 individual line items. Some examples include individual utilities (water, gas and electric, phone, internet), contracts (management, landscaping, pest control, security patrols), insurance, legal fees, activities and events, and staff payroll. But the single biggest portion of your budget is the Reserve Contribution. This is the amount of money that is transferred to the HOA’s reserve account, and is determined by the yearly Reserve Study. The Board met twice in the month of September to review and approve the 2025 Reserve Study, and detailed write-ups have been included in the last few Signals.

Long story short – the estimated cost of the upcoming Main Pool repair/rebuild project came back much higher than anticipated, so the plan is to increase our 2025 reserve contribution by roughly 36% – a jump from $424,990 per year to $577,918 per year – to make sure we have enough money in the bank for the Main Pool project, as well as other repair projects that might come up over the next few years. As we are able to increase assessments related to reserve gradually, a special assessment will likely not be necessary. This reserve contribution should also increase by another 20 to 30% next year; following that, the plan is for it to level off and future increases should fall in line with inflation.

Of the total $21.00 per month increase for 2025, $12.00 is a direct result of this year’s increased Reserve Contribution (which is almost entirely due to the Main Pool repair/rebuild project).

So where is the other $9.00 coming from? When the Board went through the draft budget, there were eight line items that most significantly impacted the bottom line. Here is a breakdown going over how much these line items increased and what percentage they made up of the $9/month increase:

This all totals roughly $127,000 more than last year – or about $9.97 per unit per month. The Board was able to reduce some other line items to bring the increase down to an even $9.00 per unit per month for the operating (i.e., everything except the reserve contribution) expenses. Unfortunately, CHOA went through a few years of assessments staying fixed around $95/month and $98/month – despite rising costs and inflation increases – so some of these recent increases are a result of still playing a bit of catch-up. CHOA’s bills, like those of every resident h ere, have continued to go up, and the monthly assessments should be updated regularly to reflect those increased costs.

We understand this is a significant increase, and this decision was not made lightly. The Board met three times in the month of September about this issue specifically and discussed the options available in front of any owner who wanted to attend. If you have any questions or would like any additional details, please contact the General Manager at the Business Office for assistance and we will be more than happy to assist you.