Fountain Shadows HOA

About our association

Fountain Shadows HOA

Location:
Fountain Shadows is a Homeowners Association located on 67th Avenue, South of Olive Avenue and North of Butler Avenue.

What Fountain Shadows has to offer:
142 Large Townhomes, each home has 2 or 3 Bedrooms, with one and two story homes. Each home has a two car garage. The complex has one pool, a small park and very limited parking for guests. The complex is a very clean and well kept community.

Monthly Assessments include Basic Cable, Water, Sewer, Sanitation, Insurance, Exterior Maintenance to Building, Pool & SPA Maintainance, Landscaping, Management Company fee, and other maintance fees, such as gas for SPA heater, Electric for street lighting, repairs to streets, etc.

History:
1983 The birth of Fountain Shadows by NBS Development Corp (Nielson) funded by Sun State Savings & Loan.

1985 Nielson (NBS) declared bankruptcy, Michael J. Smith, developer took over.

1987 December - Michael J. Smith turned Fountain Shadows over the association to the homeowners.
1988 Michael J. Smith declared bankruptcy & United Southwest Corp. took over.

1991 Late in this year United Southwest Corp. declared bankruptcy, about the same time Sun States Saving & Loan failed, and closed their doors. Enter Resolution Trust Corp. (R.T.C.) Effect: Fountain Shadows was not receiving any association fees from 54 Units - We were just about broke which meant our vendors (Landscaping & pool etc.) hours were cut in half. To make it more complicated, we could not even pay our vendors on time for the work they did do. However, by careful & clever budgeting by our governing board, they were reimbursed every dollar that our association owed.

Late 1991/Early 1992 These 54 units were held in government trust until Jackson Properties acquired them all in bulk. He immediately started renting, leasing & selling in order to get a positive cash flow thereby hiring qualified vendors at lower contract price, and with a critical eye began checking all bills & workmanship carefully; examining bidder against bid & their qualifications. Also, many jobs and repairs were done by qualified volunteer residents which added up to more savings for our association. All of these things were undertaken with great care, concern, and time.

Board Meetings:
Board of Directors meetings are the second Wednesday of every month at 7 PM at the Glencroft Retirement Community, Roadrunner room. (Execpt for December, Annual Meeting held at Glencroft Auditorium, date and time will be in the Newsletter) If you would like to attend the meeting and can't find the location, please contact the Management Company at (602) 993-9701.