Capital Plan Approval - July 20, 2007

Dear unit owner:

At a special meeting of the community held on July 10, 2007, the funding of the twenty-year capital improvements plan for Oxford Park was approved. The schedule of monthly amounts and effective due dates is:

 

$60.00 per month from Sept. 1, 2007 through June 1, 2009

$65.00 per month from July 1, 2009 through June 1, 2012

$70.00 per month from July 1, 2012 through June 1, 2018

$65.00 per month from July 1, 2018 through June 1, 2021

$60.00 per month from July 1, 2021 through June 1, 2027

NOTE: the above amounts are in ADDITION to the monthly operating budget common charges

 

Therefore, beginning with your payment due September 1, 2007, a $60.00 per month charge will be added to the amount due for common charges. The operating budget approved by the Board of Directors maintained the $170.00 per month operating expenses through June 1, 2008. The total amount due per month, as of September 1, 2007, is $230.00 per unit. Payment can be made with one check. As a reminder, checks should be payable to Oxford Park Community, Inc.

Also enclosed you will find the Notice of the Annual Meeting, a copy of the operating budget for July 1, 2007 through June 30, 2008 as approved by the BOD and a capital improvement schedule.

Please call the management office if you have any questions.

Sincerely,

Karen Spotts, Treasurer, Oxford Park BOD