09-29-2011, 03:11 PM
As per: http://www.hppoa.com/Paving%20info/Pavin....06.09.pdf
"3. What is the effect of the paving bond on annual road maintenance fees charged to owners?
The Board annually sets the road fees. The Bylaws do not allow more than a 10% increase annually. It is
assumed that to meet the bond payback schedule and maintain our non-paved roads (which the indenture
requires), the 10% maximum allowed annual increases will continue only through 2012/13. Thereafter,
the Board will determine if annual increases are needed and at what percent to cover the remaining bond
debt service and to continue maintenance of non-paved roads."
Can I assume that come 2013 my multiple per/lot road maintenance fees will stop growing by a mandated 10% / year? What happens after? 3%? 5%? ?%? How much did it cost to maintain the roads pre-bond? How much does it cost now? Can I as a lot owner see the books on the roads?
I've seen first hand in similar communities what happens with private roads in private neighborhoods managed by private people - inefficiency, inability and high costs that grow exponentially and inordinately.
I think we in HPP as a community should seriously weigh the benefits of our roads being private vs. County maintained.
"3. What is the effect of the paving bond on annual road maintenance fees charged to owners?
The Board annually sets the road fees. The Bylaws do not allow more than a 10% increase annually. It is
assumed that to meet the bond payback schedule and maintain our non-paved roads (which the indenture
requires), the 10% maximum allowed annual increases will continue only through 2012/13. Thereafter,
the Board will determine if annual increases are needed and at what percent to cover the remaining bond
debt service and to continue maintenance of non-paved roads."
Can I assume that come 2013 my multiple per/lot road maintenance fees will stop growing by a mandated 10% / year? What happens after? 3%? 5%? ?%? How much did it cost to maintain the roads pre-bond? How much does it cost now? Can I as a lot owner see the books on the roads?
I've seen first hand in similar communities what happens with private roads in private neighborhoods managed by private people - inefficiency, inability and high costs that grow exponentially and inordinately.
I think we in HPP as a community should seriously weigh the benefits of our roads being private vs. County maintained.