Editor’s Note: The Anthem Country Club Community Association is considering raising dues in January and is also looking at instituting a quarter percent fee that would be collected at closing on properties sold. The latter fee, which would amount to $750 on a $300,000 home, would be in addition to a similar quarter percent fee that the Anthem Community Council collects on the sale of every home in Anthem. The following is reproduced verbatim from the Board of Directors’ newsletter to residents today. Discuss This Topic on Facebook >>>
At the Sept. 7, 2017, Board of Directors Administrative Session, the Board discussed possible funding options to raise the Reserve Budget funding percentage to approximately 75% in roughly five years. The reserve funding increase is necessary to meet expenditures for anticipated future roadwork.
The Board first evaluated implementation of the Lifestyle Enhancement Fee (LEF), a 0.25% fee that will be collected at closing on properties sold beginning in January 2018. The Board anticipates that the LEF will be considered for likely approval at the Quarterly Board Meeting on Nov. 2.
In addition, the Board directed the Finance Committee to proceed with analysis of incremental dues increases beginning in 2018. This increase is a necessary supplement to the funds generated by implementation of the LEF in order to bring the Reserve Fund to approximately 75% in five years.
- The FAQ document provides background information about the 2016 Roadwork Study, the 2017 Reserve Fund Study and the financial implications of the two studies.
- View complete minutes of the Sept. 7 Board of Directors Administrative Session.
- The next Board of Directors Administrative Session is on Thursday, Oct. 5 at 2 p.m. at the Civic Building.
- The 2018 Operating and Reserve Budget will be presented and voted on at the Quarterly Board Meeting, Nov. 2.