Thursday, December 15th, 2011
Dear Homeowner
The Board of Directors of the Sandyport Homeowners Association met at a Board Meeting on December 12th, 2011 and set the Association’s Annual Assessment Fee for 2012 at $2.75 per square foot.
The 2012 budget is attached and will be effective January 1, 2012.
We are pleased to confirm the following payment options:
- Payment in full by January 16th for the 2012 assessment will receive a 3% discount, which can be deducted at the time of payment. Note that payments must be received by this date to qualify for the discount.
- Monthly – due on the first day of each calendar month, commencing January 2012.
- Quarterly – due on the first day of January, April, July and October.
- Half yearly – due on the first day of January and July.
You will receive your 2012 assessment invoice in full later this month and be able to select your payment options at that time.
Yours sincerely
Karen Dagenais
Chairman
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Frequently Asked Questions:
Q. Why is the total amount due different to the Assessment Notice?
A. If there was a balance outstanding as at December 17th, 2011 this amount is included in the total amount due. To qualify for a 3% discount on the Annual Assessment, all past due balances must first be cleared.
Q. What do I need to do to qualify for a 3% discount?
A. Only Annual Assessments that are paid in full by January 16, 2012 qualify for a 3% discount PROVIDED THAT the account is otherwise current. The 3% discount applies to the Annual Assessment value only and not to additional outstanding balances.
Q. What if I don’t want to pay for the year in full?
A. You may select quarterly or monthly billing options for Annual Assessments as shown on the Assessment Notice and payments are due on the 1st of each month. Indenture fees are due on January 1st, 2012 in full.
Q. Can I pay my Indenture fees in instalments?
A. No. Indenture fees are due on the 1st of January, 2012.
Q. How is the Annual Assessment calculated?
A. Full details are set out in the Licence Agreement. In simple terms: The costs, allowing for capital reserve funding and less other revenue (for example water and indenture fees), are divided by the aggregate square footage of completed dwellings producing a rate per square foot which is then multiplied by the number of square feet calculated in the case of each dwelling. For instance the total net costs divided by the total square feet for the Sandyport community are $2.75 per sq ft per the Assessment Notice and if a dwelling is 2,000 sq ft, the Annual Assessment is $2.75 x 2,000 = $5,500.
Q. What payment methods are available?
A. Please visit the payment methods page on our website.