We have been talking about updating the entrance signs for many years. When the Association was turned over from the Developer to the Residents, we started with a small cash reserve. We have been working that up for emergency purposes and also working on capital improvements that have come along each year. Each of those items have been notated on the yearly budget we send with the statement in January.
The wood entrance signs were placed originally two at the corner of VanBuren & 16th in Phase 1, one at the corner of 14th & Ponstein in Phase 2, and one at the corner of 18th & Edson in Phase 6.
The board has approved a new sign design and it was presented at the Annual Informational Meeting. (Copies of the design are attached at the back of this document) The design has us replacing the 4 entrance signs with 3. One facing west at VanBuren & 16th, one facing north at 14th & Ponstein, and one facing north at 18th & Edson.
There is a special issue with the one at 18th & Edson in that the existing sign and berm that is there is in the path of the sidewalk for our new residents that are just moving in and the TWP is requiring us to move the signage to our easement on that corner and off the road ROW. This must be done now.
The cost for all 3 entrance signs will be approximately $50,000 (some will be $18K some will be $15K). We are asking residents to vote on a special assessment to fund this specific project.
This project has been approved by the board and the board is recommending to collect a $200 per lot special assessment for this project. This will allow us to get the project completed in 2017.
Should we collect a $200 Special Assessment for the Entrance Signs to update them now? (that is $48,600)
