Quote:
Originally Posted by Mikeod
Please remember that without the current cap, many households would already be paying more than currently. The cap was originally established to address a large disparity in amenity fees between residents and because revenue was adequate to cover expenses.
Why the change? The disparity has diminished as those below the cap have seen their fee rise toward that amount while those already there have enjoyed stable fees. The district has now adjusted projected expenses to include necessary refurbishment and/or replacement of amenities. (The original lawsuit that resulted in the AAC north of 466 was filed because there was insufficient funds allocated to adequately maintain amenities.)
Removing or increasing the cap does not remove the limit to how much your amenity fee can rise each year. You are not facing a 25% rise in one or two years.
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I have read your posts for the last dozen year and know that you are very aware of what is going on and have reasonable expectations and no axe to grind.
Thank you for this explanation.