At the Special Board of Directors Meeting held on April 10, 2014 at 7:00 PM, the Board adopted a Special Assessment for the purpose of the Elevator Modernization & related expenses for the amount of $4,218,981.47 + interest at 4.25% over 84 months.
Residents will have the following two payment options,
Full payment due May 1, 2014
15% down payment due on May 1, 2014, with subsequent Quarterly payments due on August 1, November 1, February 1, and May 1 of subsequent years.
Invoices will be mailed to all owners prior to the due dates. Residents that fail to pay within the 25 day grace period will incur late fees in accordance with the Associations governing documents.
Please click the below link to view the Assessment breakdown: