Update on the 2020 special assessment - June 2020

[westtownecondos]

Hello.  The board has communicated with unit owners several times via email since the 202 budget was passed in November 2019, but we wanted to post this status update on our web site for the information of everyone.

The special assessment planned for in the 2020 budget did take effect and is now binding on unit owners.

The 2020 special assessment is $3,000 (three thousand dollars) per unit. The money is to be used to replenish the association's reserves, with specific plans that the board will continue repairs to the building exteriors. Over the last several years leaks in our walls and roofs have begin to occur and repairs are now necessary to maintain the comfort and value of our property. (More information is available on older posts in this category.)

In April 2020 our manager posted to every unit's account, the first half of the assessment (which is $1,500 or one thousand five hundred dollars). This amount now appears as "owed" on each unit's account.

The second half of the assessment will be posted later in 2020. The second half of the special assessment thus DOES NOT appear on any unit's ledger as an "amount owed" at this time. However, unit owners and prospective purchasers of units, should be aware that the amount will be posted later in 2020.

The assessment is owed by each unit, rather than by any particular owner. Prospective purchasers of units are urged to contact the seller to inquire how much (if any) of the special assessment has already been paid, and what plans the seller has to take care of any remaining amount owed.

Prospective purchasers of units may also contact the association for information.