Homeowners,
With the flyer you received is an important petition to sign and return to the Homeowners Association.
This petition will force the Homeowners Association to abide by statute regarding reserve accounts. They will have to conduct a reserve study and provide a maintenance plan that shows the homeowners what they intend to use the money for.
Moreover, it forces them to get a 75% vote of the homeowners to either reduce or increase the amount assessed for the reserve account.
If you don't sign and return the petition, then the Board of Directors will be free to reassess and raise the amount of the reserve account without any written explanation as to why.
A majority, which is 100 out of 198 homes, is all that is required to force the Board of Directors to comply with Oregon Statute to conduct a reserve study and prepare a maintenance plan so you - the homeowner - will know exactly why the amount assessed for the reserve is what it is and how it will be spent.
It's important that we start holding the association and the management company accountable for their actions, to include the annual budget and what they intend to do with our money!
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