Amenity Fees

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Reply
Thread Tools
  #1  
Old 05-20-2020, 07:01 AM
milling73 milling73 is offline
Junior Member
Join Date: Jun 2018
Posts: 18
Thanks: 44
Thanked 7 Times in 6 Posts
Default Amenity Fees

Are amenity fees froze at fixed amount at home purchase?

Or do they change annually? If so, is there a set increase or percentage limit each year?

Thanks...

Last edited by milling73; 05-20-2020 at 07:03 AM. Reason: Correction
  #2  
Old 05-20-2020, 07:18 AM
Dr Winston O Boogie jr's Avatar
Dr Winston O Boogie jr Dr Winston O Boogie jr is offline
Sage
Join Date: May 2012
Posts: 6,326
Thanks: 0
Thanked 246 Times in 98 Posts
Default

Quote:
Originally Posted by milling73 View Post
Are amenity fees froze at fixed amount at home purchase?

Or do they change annually? If so, is there a set increase or percentage limit each year?

Thanks...
I don't know the exact numbers but they can and do increase each year. There is some kind of limit. I've been here 8 years. When I arrived my fee was $135 and now it's $160. So it's increased about $3.00 per year.
__________________
The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center.

"I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800.
  #3  
Old 05-20-2020, 07:24 AM
Toymeister's Avatar
Toymeister Toymeister is offline
Veteran member
Join Date: Sep 2016
Posts: 701
Thanks: 1
Thanked 154 Times in 87 Posts
Default

To be precise they increase at the rate set by the Consumer Price Index.

The CPI has several indexes. The CPI-U is used, U for urban. It tends to track slightly higher than other CPI rates.
  #4  
Old 05-20-2020, 08:40 AM
champion6's Avatar
champion6 champion6 is offline
Sage
Join Date: Jan 2009
Location: Tamarind Grove
Posts: 4,774
Thanks: 1
Thanked 268 Times in 132 Posts
Default

And the change occurs annually on the anniversary date of your closing.
  #5  
Old 05-20-2020, 09:05 AM
alwann's Avatar
alwann alwann is offline
Senior Member
Join Date: Oct 2008
Location: Village of Gilchrist
Posts: 494
Thanks: 0
Thanked 106 Times in 46 Posts
Default

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.
  #6  
Old 05-20-2020, 12:42 PM
JoMar JoMar is offline
Sage
Join Date: Apr 2014
Posts: 3,590
Thanks: 9
Thanked 814 Times in 309 Posts
Default

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.
__________________
No one believes the truth when the lie is more interesting

Berks County Pennsylvania
  #7  
Old 05-20-2020, 12:44 PM
NotFromAroundHere NotFromAroundHere is offline
Senior Member
Join Date: Jan 2014
Posts: 185
Thanks: 0
Thanked 32 Times in 10 Posts
Default

Quote:
Originally Posted by champion6 View Post
And the change occurs annually on the anniversary date of your closing.
The anniversary of the original owners closing.
  #8  
Old 05-20-2020, 01:52 PM
biker1 biker1 is offline
Soaring Eagle member
Join Date: May 2014
Posts: 2,097
Thanks: 1
Thanked 206 Times in 121 Posts
Default

Actually the date you signed the contract, not the closing date.


Quote:
Originally Posted by NotFromAroundHere View Post
The anniversary of the original owners closing.
  #9  
Old 05-20-2020, 01:58 PM
biker1 biker1 is offline
Soaring Eagle member
Join Date: May 2014
Posts: 2,097
Thanks: 1
Thanked 206 Times in 121 Posts
Default

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 ?


Quote:
Originally Posted by JoMar View Post
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.
  #10  
Old 05-20-2020, 02:34 PM
JoMar JoMar is offline
Sage
Join Date: Apr 2014
Posts: 3,590
Thanks: 9
Thanked 814 Times in 309 Posts
Default

Quote:
Originally Posted by biker1 View Post
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 ?
Because any loss of revenue hurts us all. Of course I guess they could change the cap again and try and recover over years.
__________________
No one believes the truth when the lie is more interesting

Berks County Pennsylvania
  #11  
Old 05-20-2020, 03:39 PM
Goldwingnut's Avatar
Goldwingnut Goldwingnut is offline
Veteran member
Join Date: Apr 2014
Location: Village of Hillsborough
Posts: 847
Thanks: 398
Thanked 570 Times in 122 Posts
Default

Quote:
Originally Posted by JoMar View Post
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.

Quote:
Originally Posted by biker1 View Post
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.

Quote:
Originally Posted by JoMar View Post
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.
Quote:
Originally Posted by alwann View Post
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.
__________________
GoldWingNut
(a motorcycle enthusiast not a gilded fastener)
Village of Hillsborough
YouTube –tinyurl.com/GWNP-01 tinyurl.com/GWNP-02
www.goldwingnut.com
Carpe diem quam minimum credula postero
Society is produced by our wants, and government by wickedness; the former promotes our happiness positively by uniting our affections, the latter negatively by restraining our vices.
Thomas Paine, 1/10/1776
  #12  
Old 05-20-2020, 03:42 PM
davem4616 davem4616 is offline
Veteran member
Join Date: Apr 2017
Posts: 602
Thanks: 79
Thanked 704 Times in 289 Posts
Default

Quote:
Originally Posted by Goldwingnut View Post
The deferral rate was removed last year, the "cap" is the CPI adjustment in the deed restrictions you agreed to.

We would not not follow them.





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.
once again, thanks Goldwingnut
  #13  
Old 05-20-2020, 05:49 PM
JoMar JoMar is offline
Sage
Join Date: Apr 2014
Posts: 3,590
Thanks: 9
Thanked 814 Times in 309 Posts
Default

Quote:
Originally Posted by Goldwingnut View Post
The deferral rate was removed last year, the "cap" is the CPI adjustment in the deed restrictions you agreed to.

We would not not follow them.





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.
Shot accepted . The reason I didn't attend the budget meeting is because I vote for those I believe will serve in my best interest (you) and concentrate on all those things I moved here to avoid. From my past, I do know that reserves are a good thing until they are used, then adjustments are made to replenish the reserves and I assumed that would happen here also. That replenishment either came from reduced expenditures or increased something to get back to the required reserves. Our amenity fees are cheap for what we get. I also missed where the cap on amenity fees wasn't raised....my bad.
__________________
No one believes the truth when the lie is more interesting

Berks County Pennsylvania
  #14  
Old 05-20-2020, 07:17 PM
Goldwingnut's Avatar
Goldwingnut Goldwingnut is offline
Veteran member
Join Date: Apr 2014
Location: Village of Hillsborough
Posts: 847
Thanks: 398
Thanked 570 Times in 122 Posts
Default

Quote:
Originally Posted by JoMar View Post
Shot accepted . The reason I didn't attend the budget meeting is because I vote for those I believe will serve in my best interest (you) and concentrate on all those things I moved here to avoid. From my past, I do know that reserves are a good thing until they are used, then adjustments are made to replenish the reserves and I assumed that would happen here also. That replenishment either came from reduced expenditures or increased something to get back to the required reserves. Our amenity fees are cheap for what we get. I also missed where the cap on amenity fees wasn't raised....my bad.
I appreciate the vote of confidence. We are fortunate that we have the processes in place that we do to protect our interests. The District staff is very good at what they do and have made huge efforts and have had huge success in finding and reducing cost through a variety of methods, that does not mean I (we) follow them blindly, I am fairly positive that I am regarded as a pain in the rear, especially during the budgeting process.

The deed restrictions are very clear on when and how the Amenity Fee can be raised: CPI, resale, and a majority vote to increase services that result in an increased cost and therefore an additional revenue requirement. The latter is likely to never happen as a significant number here would complain if the fee is raised a nickel. Others would complain that it's just the developer trying to steal more money from them (hint, the developer has nothing to do with amenities north of SR44, sold them all in 2016 to SLCDD). CPI, that horse is dead, leave it alone.

The saving grace for the Amenity fund is the resale clause, when a home is sold the new owner assumes an amenity fee equal to the prevailing rate regardless of the amount the previous owner's rate. Until Oct 2018 that was $145 and had been for several years. For some who bought a new home this long period at $145 worked in their favor. One of my neighbors moved just before 10/18 after living in our CYV unit for 4 1/2 years and saw their amenity fee drop because the CPI changes got erased on the new home (complicated but it actually makes sense what happened) and went back to the prevailing rate of $145 the same as they were paying when the bought the CYV.

In 10/18 the prevailing rate was raised to $159 and then in 1/20 raised again to $163. So today if I were to buy a new home and sell my current home I would pay $163 on the new home and the buyer of my home would also pay the $163 not the $158.85 I am currently paying. There would be an increase of $4.15/month paid in amenity fee on my current home, with no other change. If I happen to purchase a resale from a current owner who had been in it for many years and was paying, let's say $140/month, there are still a few of these north of 466, the amenity budget would see an increase of $23/month for that unity also. These increases don't seem like much but consider there are nearly 3000 resales every year, it adds up quickly and is key to making ends meet as the CPI adjustment usually falls short of keeping up with costs.

Some may not think the resale adjustment is fair, but it actually is (long discussion for a later date), and it is necessary to keep things funded properly.

Neither the AAC, PWAC, SLCDD, nor the VCCDD can just arbitrarily raise the Amenity Fee a resident is currently paying (neither can the developer) because the want or need to. They have to live within their income and find ways to reduce costs without reducing the services provided to the residents.

The deferral rate was not renewed because the forecasts projected that in 2 more years without CPI adjustments on 98% of the homes (98% would have been at the $155 deferral rate) the amenity funds would have started to deplete their reserves and would have completely exhausted reserves in about 10 years.

One last note on the deferral rate. Remember this was a deferral rate not a cap. The AAC and the PWAC had the option to reinstate all deferred rate increases and collect all deferred payments, they did not exercise this option.

I'm working on a video to explain the Amenity Fee better to go along with the Bond and Maintenance Assessment videos I previously put out.
__________________
GoldWingNut
(a motorcycle enthusiast not a gilded fastener)
Village of Hillsborough
YouTube –tinyurl.com/GWNP-01 tinyurl.com/GWNP-02
www.goldwingnut.com
Carpe diem quam minimum credula postero
Society is produced by our wants, and government by wickedness; the former promotes our happiness positively by uniting our affections, the latter negatively by restraining our vices.
Thomas Paine, 1/10/1776
  #15  
Old 05-21-2020, 05:54 AM
egmcaninch egmcaninch is offline
Junior Member
Join Date: Jul 2018
Posts: 14
Thanks: 0
Thanked 17 Times in 5 Posts
Default

We have been in TV (Fenney) for almost 2 years & have NO regrets! The shuffleboard courts at Spanish Moss have been in rough shape for months. I noticed that Everglades had weeds & ant piles on the Bocci Ball courts. Then I saw that several areas will be closed for maintenance after we have started to open back up. I don't fully understand why maintenance did not take place when people could not use the amenities. How is that coordinated?
Reply

Tags
amenity, fees, year, limit, percentage

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 11:53 AM.