Well I have good news for SPW residents. We have voted to reduce the maintenance fees across the board, meaning the same percentage applies to everyone. The reduction amount is substantial that's all I can say for now. You will receive a letter and new payment coupons from Randall before January 1, 2008.
We debated greatly before deciding. The main worry I said, is the low reserve funding we currently have, while the rehab is still going on. If we have a hurricane, a fire, or something either man-made or natural disaster that would double or triple our insurance premiums, then we could be in trouble.
We hope that nothing would happen while we slowly build up our reserve fund for saving as well as for repairs and at the same time maintain this percentage of fee reduction for SPW residents.
The main point is, we want to give back to the SPW community something they have long deserved. We didn'think we could achieve this task in such a short time but we did it and it's happening.
By James
We debated greatly before deciding. The main worry I said, is the low reserve funding we currently have, while the rehab is still going on. If we have a hurricane, a fire, or something either man-made or natural disaster that would double or triple our insurance premiums, then we could be in trouble.
We hope that nothing would happen while we slowly build up our reserve fund for saving as well as for repairs and at the same time maintain this percentage of fee reduction for SPW residents.
The main point is, we want to give back to the SPW community something they have long deserved. We didn'think we could achieve this task in such a short time but we did it and it's happening.
By James