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To: All Members
From Board of Directors
Subject: Clarification of 2015 Budget Cover Letter
The 2015 budget cover letter dated November 5, 2014 explaining our 2015 budget was a “standard” budget cover letter for most HOA annual budgets. Unfortunately, the following statement should not have been included in the letter covering the Seaside Village 2015 Budget. “At this time, based on this level of funding the Board of Directors does not anticipate that one or more special assessments may be required this year to repair, replace or restore any major component. “ This sentence was included in the budget cover letter in error.
In March 2014 the Board announced in both its March newsletter and at its monthly meeting wood repair was running 4 times higher than original estimate. At that time, our wood project was put on hold so we could rebid the work needing to be done. We opened new vendor dollar bids at an open Board of Directors meeting. We elected to change vendors and begin phase 2 of the project starting on Seabreeze Drive. Each month we have given wood repair and painting updates.
We have worked closely with our new vendor Professional Services in developing a new dollar estimate to complete wood repair and painting of the total community. At our October 2014 monthly Board Meeting, we reported having been given a new estimate of 2 million dollars to complete necessary repairs. At that meeting, we indicated we had 1 million in reserves and would have to raise 1 million dollars via special assessment, dues increase, bank loan, etc.
Clearly, we need to raise the additional funds necessary in order to complete the work. We also advised the Board will arrange for a town hall style meeting to review the options in either December or January. If a special assessment is determined to be the best way to raise the funds needed, the request for a special assessment will be put to a vote of the community hopefully timed to coincide with our Annual Meeting.
The purpose of this letter of clarification is to simply state either a special assessment, a dues increase or a bank loan will be needed to complete the wood repair project and the painting of the community contrary to what was stated in the 2015 Budget Cover letter of 11/15/14.
We apologize for the error made in our initial budget cover letter of 11/5.
Board of Directors
Seaside Village Towne Homes Association
Tree trimming is on the way! Pruning should start mid November and - weather permitting - finish up by early December. Most Major species will be pruned: Palms, Melaluca, Ruby Ficus, Alder, Pine, Tipuana, Coral and Tristania. One high volume species that will not be trimmed this time around are the New Zealand Christmas trees - typically near the driveways. These were trimmed last year and can be trimmed on a 2-3 year schedule.
Seaside Village recently invited a review of our landscape/irrigation/water use by the Metropolitan Water District. The report being generated will give us guidance on water conservation going forward. In the meantime - to address long term landscape concerns - the Board approved turf replacement/renovation for the exterior of our community along Beach Blvd. The board has worked hard to secure CalTrans street sweeping and associated parking constraints, city donated trash cans, replacement of aged oleander and additional security patrols specifically focused to keep this area clean, safe and enjoyable as area upgrades take place. The turf removal comes with a substantial rebate from the MWD of Orange County and significant cost savings on irrigation going forward as the replacement plantings require far less water than turf. We'll be looking to replicate some of this type of landscape in select areas in and around our community. Please give the project some time to mature and give the board constructive feedback. Beach Blvd. turf removal/renovation must be finished prior to December 24th in order to assure receipt of the rebate.
Please don't hesitate to email Michelle Benson with landscape and irrigation concerns. We can't fix what we don't see!
Landscape Committee Chairperson