2023 Annual Meeting
In addition, the Association is in the midst of several critical infrastructure projects including repair of the Green’s electrical system, property-wide irrigation design and replacement, a landscape rehabilitation project, and building insulation. These major reserve projects are estimated to cost between $2.5M-4M per year for 10 years and remain significantly underfunded.
To cover these projects as well as the increases to our operating costs, the Board of Directors voted in October to increase regular assessments by 7%. The dues increase adds roughly $285,000 annually to the Association’s income and will allow the Village Green to contribute about $1M to our reserves in 2023. An estimated $500,000 will be spent on routine reserve projects, such as ongoing building painting and garage restoration. The remaining $500,000 will be available for projects like the electrical infrastructure upgrade.
President, Board of Directors