T-k�ta Pec�(.
PVMMD Public Hearing 7/16/2024
1. Currently, reserve fund is approximately $700,000+ overfunded.
2. Between 2011-2022 residents were over assessed approximately $900,000+.
3. Fees were levied during time when hillside was not deeded to GHAD (2011-2015) and maintenance & operation was Developer's responsibility.
4. Reserve fully funded in 1/3 time than industry standard (12 yrs v. 40 yrs).
5. If rebate happens Enclave/Couples parcels estimated refund of $5,000+. P360 = $1,100.
6. Fees were increased when expenses were historically below the approved budgets.
7. Between 2010-2022 GHAD had expenses $375,000 but collected $1.6 million dollars.
8. Actual Expenses were under expensed by 26%-100%, it averaged 38%.
9. Past two years, they only spent an average of 40% of the budget.
10. Between 2013-2021 fees collected were greater than budgets. Between 2015-2021 by 400-723%.
11. Fifty-two percent of residents (Enclave & Couples) have funded 94% of the reserve.
13. In 2018, ENGEO recommended an 18% decrease but they raised fee by 3% = 21% net increase. Board was not shown this ENGEO's report.
14. Between 2011-2021 assessment fee increases not based on budget, expenses, # of parcels or reserve balance, but on previous year's fee amount + CPI. They did not spend what they claimed they needed on each years Budgets!
15. If rebate happens estimated amount fee increase for reserve funding for all parcels (average) = $100/year.
16. Soft Survey: 94% contacted wants the refund.
17. Petition 2024: 136 of 218 homes directly contacted =62%. Of these contacts, 96% want further auditing of program for potential refund.