Dues increase for 2023
Waterwood Townhomes Homeowners:
After months of research and analysis, the HOA Board adopted the budget
for 2023. That budget was then ratified at the Annual Meeting of the Owners
on November 12, 2022. This budget is based on dues increasing to $205 per
month beginning January 1, 2023. The dues increase was necessitated by
Operating Expenses increasing to $315,850.00 and a need to increase our
Reserve Fund Contributions to $102,350.00. This was not a decision that we
came to lightly. A copy of the 2023 budget along with a copy of the Reserve
Study (that was used to determine how much we should be setting aside for
property maintenance) is posted on the Waterwood HOA website and is
accessible to owners with the password-protected link to the Financial
Statements. If you do not already have the password and would like access to
these documents, please contact our management company, Equity Real
Estate. Their contact information is in the footer of this letter.
At the Annual Meeting, two new board members were elected. We welcome
Anna Berry and Ron Polvadore and thank them for their willingness to serve.
Sincerely,
Board of Directors, Waterwood Townhomes,
A Condominium Homeowners Association, Inc.
LeAnn Davis, President, Lynn Cagle, Secretary, Marianne Kennedy, Treasurer,
Anna Berry, and Ron Polvadore
