When the year 2014 began, it was the fifth year without a dues increase. However, this 28-year-old community’s capital needs has begun to shift toward more and bigger removal and replacement projects. As we have learned from the constant deterioration of the SMVE roads, replacement costs are substantially more expensive (5-8 times) than just operational maintenance. Careful data gathering and projecting community capital replacement needs have begun to assess increasing replacement costs that maintain your property values going forward.
Moreover, special kudos are in order for a majority of SMVE homeowners. About 50 percent of you paid your semiannual dues promptly before the due date. Thank you. This behavior pattern really helps the self-managing volunteer Board to pay bills promptly while maintaining a positive fund balance. Finally, the Board of Directors plans to avoid special assessments in 2015 to fund needed repair and replacement capital cost.