Coronado Cays HOA - Announcements - Results of AV-MV Special Assessment Ballots- MEMO

Results of AV-MV Special Assessment Ballots- MEMO

3/13/2018

To: Antigua and Montego Village Homeowners

From: Michael Bennett, General Manager

Date: March 13, 2018

Re: Results of Special Assessment Ballots

At the March 8, 2018 Special Meeting for Antigua Village and Montego Village, the three appointed Inspectors of Election tallied the Special Assessment ballots. The final results for the proposed Special Assessments to fund the renovation projects were as follows:

Antigua Village ($13,810 per unit one-time assessment):

Owner Votes in favor of Special Assessment: 65

Owner Votes Opposed to Special Assessment: 17

Montego Village ($24,194 per unit one-time assessment):

Owner Votes in favor of Special Assessment: 38

Owner Votes Opposed to Special Assessment: 17

Both Special Assessment ballot proposals passed and the assessments will become effective July 1, 2018. Invoices for the one-time Special Assessment will be mailed to all Antigua Village and Montego Village Homeowners per Civil Code. Formal notice to the Antigua and Montego owners of the special assessment can be not less than 30 days or more than 60 days prior to the increased (special) assessment becoming due. (Ref: CC sections, 4040, 4045, 5120, 5615.); therefore, we anticipate the invoices being mailed in the first week of May with a due date of July, 1. 2018.

By Direction of Board of Directors

Michael Bennett

General Manager