The Board of Directors has voted for each membership a $280.00 capital improvement assessment in 2024. Due to requests by multiple owners, the Board has approved the option to pay the assessment in two installments. The first installment of $140.00 is due no later than March 1, 2024, with the second installment of $140.00 due no later than July 1, 2024. If a member chooses to pay the full amount in one payment, the $280.00 is due no later than March 1, 2024. This assessment is reserved for Capital Improvements only and will not be applied to operating expenses. These funds will be reflected in a separate account, monitored and reviewed by the Board, then reported to the owners on a monthly basis.
Our Resort is aging and in need of repairs to roads, buildings including roofs, lift stations for sanitation and other repairs. Required repairs that have been made over the last few years such as pool repairs, appliance and air conditioners replacement for rentals, the road repair to Phase 2 by the pond, along with inflation, hikes in utilities costs and minimum wage increases have had a big impact on our regular budget resulting in a operating loss and a drain on our reserves. This assessment would allow us to not only do some necessary repairs but also do some preventative maintenance. It will also keep unplanned capital expenditures from having a negative impact on the daily operations budget. This is for 2024 only and there is no discussion for any other assessment.
If you have any questions, please contact one of your Board members.
Treasure Lake RV Resort Board of Directors
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