Northgrove

2005 Assessment Letter

Dec 04, 2004

December 1, 2004

Dear Northgrove Homeowner:

After careful consideration and a great deal of discussion, the Northgrove Board of Directors has voted to reduce the monthly HOA assessment to $90.00 for the 2005 calendar year, beginning January 1, 2005.

The money estimated to be saved due to the individual water meter installation was taken into consideration and weighed against necessary large projects outlined in the last newsletter. Most of these projects have been shelved in the past because of their absence in the budget due to lack of funds; however, completion of these projects is now vital in order to maintain and increase property values at Northgrove while avoiding the need for special assessments.

The cost of services and supplies has increased every year, yet there has been no general increase in assessment at Northgrove in many years. The new monthly HOA assessment will provide funding for today?’s upkeep and large projects, as well as to begin to build a much needed reserve fund for future emergencies and required improvements.

It was necessary to decide on the 2005 assessment amount at this time to obtain the pre-printed payment stubs for the coming year.

Please join us in supporting our Northgrove community.

Sincerely,
Northgrove Board of Directors