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FishHawk residents will have to wait a few more weeks to find out if their annual homeowner's association dues will be increasing from $140 to $170, a 21 percent hike.
The homeowner's association declaration must be amended to allow for a dues increase greater than 10 percent, the current language in the document. A new board meeting in December will be arranged when the changes have been completed.
Approximately 40 residents turned out at The Palmetto Club in November to discuss the 2008 proposed budget and dues increase, necessary because of a budget strain due in part to the reduction of income from capital contributions, which are fees collected each time a home is closed. With the recent downturn in the housing market, fewer homes are closing leading to less money being collected.
The increasing number of homes that warrant attorney action or abatement are also putting a strain on the budget.
The developer, Newland Communities, has subsidized any shortfalls in the budget in previous years.
With 3,350 homes closed, FishHawk Ranch is currently at 71-72 percent ownership. When that figure reaches 75 percent, the association will be turned over to the residents. There are also plans to appoint an additional resident to the board in 2008.
Currently the five-member board consists of Rizzetta and Company employees Debra Cappelli and Heather Russell, Newland Communities employees and residents Amanda King and Dawn Turner and FishHawk resident Richard Rhyne.
"I hope to maintain the level of maintenance the developer has established," says King. "With HOA's it's all about trying to maintain our property values."
Resident Andre DeGagne, who owns two homes in FishHawk, says he'll pay the extra $30 per year. "I've lived in the neighborhood for seven years and have only seen the HOA fees go up once before," he says. "If we want a neighborhood to be proud of we need to step up with the necessary funds."
For more information about the next board meeting, that will be open to FishHawk homeowners, contact Rizzetta & Company, Inc. at 994-1001 or visit www.fishhawkconnect.com.
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