[Goldwingnut]

Originally Posted by JoMar

Because any loss of revenue hurts us all. Of course I guess they could change the cap again and try and recover over years.

The deferral rate was removed last year, the "cap" is the CPI adjustment in the deed restrictions you agreed to.

Originally Posted by biker1

The language is increase or decrease of the index (CPI). Why would you not expect the CDDs to follow the language in the deed restrictions ?

We would not not follow them.

Originally Posted by JoMar

I would be surprised if the fee's drop.....the expenses continue, insurances, maintenance etc and since they don't go down I don't see how the fees to support our facilities can go down.

Originally Posted by alwann

Right now, the CPI is falling due to the virus effect on buying. We'll have to wait and see if the amenity fee comes down, but I doubt it.

It is based on the annual CPI change based on your signing date. If this were to be a negative value, yes the Amenity Fee rate would go down, there is no choice in the matter. Again this is an annual number and would require very bad times to be negative. The April CPI number was just over 1% so it will have an impact on the annual numbers but not enough to make the annual go negative.

In the Amenity Fee fund there are also extensive capital reserves built into the budget for cash flow fluctuations and the R&R Fund (repair and replacement). If you were at the budget workshop meeting on May 6th, oh wait, only a single resident showed up for that meeting that affects all of us , so if you had been at the meeting you would have seen that approximately $7.5 million was put into the reserves and R&R budgets (a.k.a. savings accounts) to plan for the long term expenses and the unexpected. Or about 10% of the budget was put into the reserves. This is where we are different from Sumter County and the reason for the 25% tax increase, but that a long post for another topic.