My understanding is that the Amenity Fee is what we owners (S of 466 anyway) have agreed to pay the Developer for certain amenities. What it costs him to provide that is up to him. What I am saying is that there is no "pool" of funds to provide amenities as far as we owners are concerned. I suspect that the Developer makes a profit on providing amenities to the owners. What would be the Amenity Fee if the residents owned and maintained the amenities? The problem here is if we were to buy the hard assets from the Developer, the value would not be based on replacement cost of the assets, but the ability to collect certain Amenity Fees. That is why the cost seems so high.
Now I am not bashing the Developer as I knew what I was getting into. In fact my fear is that the residents will take control of all of the amenities and refuse to keep them up as well as the Devleoper. I understand the Developer's motive and that is to sell homes. The owners goal may be to reduce the Amenity Fee at he expense of upkeep.
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"I am not a number. I am a free man."
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