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• Can you provide a history of the annual Association dues from 2012 through current, and <br /> show the default rate, if any? (The biggest question of course is how high of HOA fees are <br /> the residences able to pay.) <br /> Below is the history of the dues since 2012. We have made modest cost of living increases of <br /> 2.5% per year to keep pace with inflation. The only substantial increase was the 9.2%to cover <br /> the cost for the Meadow Lake dam project that we done in 2013. This increase was to cover <br /> the yearly payment to CWCB. The default rate has been less than 2%over this time period and <br /> we have had no foreclosures or bankruptcies during the past three years. There have 15 <br /> property closings over the past two years where people who could no longer afford to live in <br /> Big Elk and sold in order to resolve their debts. Regarding the special assessment we have no <br /> one to date default on the assessment with roughly 1% left to collect on the three year <br /> payment plan that ends in June of this year. Our dues and additional water charges are below <br /> market value at 260/month and we believe we could justify an increase to 275-300 per month. <br /> Year BEMA (166) BEWA (160) TOTAL(Budget) Default Rate <br /> 2012-13 1350.49 787.26 2137.75 ($405,000) $8062 (1.9%) <br /> Increase(9.2%) to BEMA was due to Meadow Dam Project—CWCB Loan$272,700) <br /> 2013-14 1470.49 787.26 2257.75 ($425,000) $3,918(.9%) <br /> 2014-15 1470.49 787.26 2257.75 ($425,000) $8,218 <br /> (1.9%) <br /> 2014-15 Special 5000(830,000) 5000(800,000) 10,000($1,630,000) 0%- l% <br /> Assessment for $19,000 <br /> Reconstruction remaining <br /> 2015-16 1550 (5% 825 2375 ($450,000) $10,377 <br /> Increase, (2.3%) <br /> 2.5%/year <br /> 2016-17 1550 825 2375 Budget- Est$8500 <br /> $425,000 (2%) <br /> 2017-18 Est. 1625 875 2500 Budget(2%) <br /> Budget-$485,000 <br />