Special Assessment for Fence Replacement

Community Fencing Replacement

Neighbors,

Marina Del Sol Residents Association (MDSRA) began a $140,000 fencing replacement program to replace the older common fencing on Twin Oaks Boulevard last year.  One of the original sections was replaced last year and another section of the older fencing has been replaced this year.  This original fencing has lasted almost 15 years and the funding for replacement of that fencing had been saved over the years for this purpose.

The fencing installed by Imperial Homes in the newer sections of our community has proven to be substandard and is now in terrible condition. Due to how our community By-Laws were written, our residential association had no say in the construction or maintenance of common fencing until after the adjoining lots were sold to residents.  This fencing has deteriorated to the point that it is now detracting from the quality of our community.  Many residents and some realtors are saying that the fencing is negatively affecting Marina Del Sol property values and the MDSRA Board of Directors is in full agreement.

Your Board of Directors has been studying several options for fence replacement over the last few years, and has decided that since the older fencing has now been replaced successfully, we now need to look to replacing the fencing installed by Imperial on both sides of Twin Oaks Boulevard much sooner than planned. Previously, the Board was going to replace half of the Imperial fencing in 2013 and the other half in 2014, but the Board has recently recommended that both Imperial sections be replaced next summer due to its condition.  There is a slight surplus of money from what had been saved for replacing the original fencing, however, to replace the fencing installed by Imperial 5 -7 years earlier than planned, the current funds will not be sufficient to cover the $85,000 needed to replace all Imperial fencing next year. After much study and discussion, for the fourth year in a row, the Board does not plan to raise the $550 annual homeowner fee for 2013, but instead recommends a one-time Special Assessment of $300 per lot to provide the additional funding required to complete the fencing replacement next year. The Board believes that a ‘pay as you go’ funding concept is the best way to provide funds for larger one-time expenditures like the fence replacement activity, and to continue to use the annual dues for routine operations, maintenance, and small refurbishment/replacement item costs. After the fencing replacement is complete next year, a small reserve will remain to cover unexpected operating and community upgrade expenses to the sprinkler system, park equipment, lighting, entry, etc. that will inevitably occur along the way.

So, as directed by our By-Laws, the Board has called for a Special MDSRA meeting to be held Saturday September 29, 2012 at 10:00 AM at the pavilion in the Park for property owners to vote for, or against, the one-time Special Assessment of $300.  Also on the Special MDSRA meeting ballot, you will have the opportunity to choose whether we stay with the current Gray and White fence painting color scheme, or to vote for a new ‘earth tones’ fence painting color scheme you can see on the new fencing installed this year.  With your help and a positive vote for the Special Assessment, we should have new fencing with your choice of either of the color schemes completed by next summer.

Sincerely,

Your Elected Board of Directors