The July 20, 2017 HOA Newsletter addressed the need for an amendment to the HOA's CCRs (Covenants, Conditions, and Restrictions) that would add the authority of the Board of Directors to assess a fine for repeated violations of the CCRs by homeowners. The Newsletter also addressed the likely need for a Special Assessment approval by Springs homeowners to pay for the removal and replacement of our community park's playground due to significant safety issues created by its deteriorating wood foundations
To assist Springs homeowners to better understand the approval requirements for both CCR amendments and Special Assessments, 2 recent Discussion topics on those specific topics are identified below. You can click on the highlighted Discussion topic title to read it in its entirety:
The July 2017 Discussion Topic on this website, "Springs CCRs & Bylaws: Amendment Approvals," reflects the requirement that amendments to our CCRs require the approval of at least 2/3 of Springs homeowners, or 58 homeowners. That approval requirement is fixed.
The March 2017 Discussion Topic on this website,"Springs CCRs: Member Approval of Special Assessments," reflects the requirement for a special meeting of HOA members (homeowners) to approve a proposed Special Assessment needed to fund the construction, reconstruction, repair, or replacement of a common area capital improvement. Unlike a regular HOA member meeting, which requires at least 20% of homeowners (18) to achieve a quorum, a special member meeting convened for the specific purpose of obtaining HOA member approval of a Special Assessment requires at least 60% of homeowners (52) attending the meeting in person or by proxy in order to meet quorum requirements. The announcement of the special member meeting must also be mailed to all homeowners at least 30 days prior to the meeting date. At least 2/3 of those homeowners attending the Special Assessment meeting must approve the proposed Special Assessment in order for it to be approved (if a minimum of 52 homeowners attend, at least 35 of them must vote to approve the Assessment). This Discussion Topic also addresses the new quorum requirements and mailed notification requirements should the first meeting not achieve quorum.
Along with the other information provided in the July 20, 2017 HOA Newsletter, the 2 topics addressed above are very, very important for all Springs homeowners. It is critical that each homeowner participate in the CCR amendment vote. It is likewise critical that each homeowner attend in person or by proxy at the special member meeting that will seek member approval of the playground removal or removal and replacement. If the vote is to replace the playground, then the vote will be taken to approve the funding mechanism for the replacement (loan paid by homeowners over a period of years, loan paid by homeowners over a period of years + some HOA Reserve Funds, or a one-time Special Assessment collection).
Contact any member of the Board of Directors should you have questions concerning any information presented in the July 20, 2017 Newsletter.
