Special Meeting Notice – 10/14/2024

Dear Homeowners,

As our community continues its growth toward the full build-out of 570 homes, the HOA Board, consisting of five volunteer members, has been self-managed since its inception. However, we believe the time has come to seek professional support to ensure the continued effective management of our neighborhood. As such, we are pleased to announce that we have entered into an agreement with First Service Residential to assist the Board moving forward. The transition will take place over the next month, with First Service officially assuming management responsibilities on November 1st. Additional information will be shared as we approach the transition date.

In the meantime, we have scheduled a Zoom call for October 14, 2024, during which homeowners will vote on two important amendments:

1. 1. Third Amendment to the Bylaws (Link Below): Currently, there is conflicting language in the Bylaws regarding the due date for the annual assessment. The Declaration states that dues are due on January 1st of the year they are levied. However, an amendment passed in 2012, which allowed payment plans for delinquent accounts, effectively shifted the due date to March 31st. This discrepancy needs to be corrected. If approved, this amendment will align the Bylaws with the Declaration, ensuring that dues are due on January 1st and considered past due on January 2nd each year.  Plus, the more statements mailed, the more cost to all homeowners.
2. Fifth Amendment to the Declaration (Link Below): This amendment proposes the introduction of a Capital Contribution Fee, to be paid by the purchaser upon the sale of a property. These fees will help offset the additional expenses related to the new pool’s access control and camera systems. Many communities have implemented similar fees. The Board will determine the specific fee amount after the amendment is passed, but it will not exceed the annual assessment. This will create a new income stream for the HOA at no cost to current homeowners.

Finally, we are in the process of finalizing the 2025 Budget. Several factors, including management company fees, the second pool, increased common area maintenance, and additional utility expenses, are being incorporated. As a result, it is likely that we will see an increase in the annual assessment for 2025. We plan to discuss this in more detail during the October 14th Zoom call. While we have been fortunate to avoid any dues increases over the past 20 years, any adjustment will be made based on what the budget requires to maintain operations. A clearer picture will be available by the October meeting, with the final budget to be presented at our Annual Meeting on November 11^th, 2024.

We appreciate your continued support and engagement. These amendments will save money for all homeowners so please tune in on October 14^th and vote.  Voting proxies are attached.  Please don’t hesitate to reach out if you have any questions.

Please visit the link below to review the proposed amendments and information. 

Special Meeting & Vote October 14,2024 – Reatta Ridge

If you are unable to attend and vote on these amendments, please submit a proxy online at the link below or print and sign the proxy on page three and return to a board member.

Proxy – Special Meeting October 14, 2024 Owner Proxy Form – Reatta Ridge

Best regards,

Reatta Ridge HOA Board of Directors

board@reattaridge.org