Dear Owner,
On behalf of The Boulders Condominium Association (“Association”) and the Board of Directors (“Board”) we write to provide you with notice of an Emergency Special Assessment. See enclosed Board Resolution.
This winter, 2023, was a tough one with the record amount of snow and the extraordinary costs associated with its removal. We had up to 10’ of snow accumulate on condominium roofs. The Association experienced a record number of ice dams, cornices, stress fractures, and stress indicators that required that snow be removed from the roof immediately to minimize and/or avoid harm to structures, property and/or residents.
The Association could not have predicted during the normal budgeting process that the snowfall would reach unprecedented levels and could cause significant potential harm to owners and their property if not removed. We also could not have predicted during the normal budgeting process that removal of such unprecedented levels of snow would exceed the budget by $402,932.
Therefore, we are forced to impose an Emergency Special Assessment on all owners, consistent with Civil Code 5610 and Section 5.2(d) of the Association CC&Rs. Pursuant to the Civil Code and the Association’s CC&Rs, this Emergency Special Assessment does not require a membership vote
EMERGENCY SPECIAL ASSESSMENT
The emergency special assessment is in the amount of $402,932, split among owners based as follows: $2,490 per two-story detached Unit and $1,992 for all other Units. Payment in full is due July 1, 2023.
Payment options:
- Payment in full by July 1, 2023
- Payment in six equal amounts, plus an additional $15 per month administrative fee (total: $2,614 per two-story detached Unit and $2,091 for all other Units). Due in full by December 1, 2023.
Please confirm your chosen payment option and method and return it to CAMCO, 40165 Truckee Airport Road #304, Truckee, CA 96161 no later than July 1, 2023. You can also email [email protected] to confirm your selection
and include:
Name
Unit address and number
Option choice
Please make sure to make full payment no later than December 1, 2023 to avoid late fees and costs. If payment in full or monthly installation is not received by the Association within thirty (30) days of the deadline or each monthly deadline thereafter, it will be considered delinquent and will accrue late charges and interest. Pursuant to the CC&Rs, the Association also has the right to lien and foreclose on a Unit for failure to pay such assessments. Therefore, please understand that non-payment or only partial payment of a monthly installment of the emergency special assessment has the same serious consequences as your failure to pay your regular assessments.
We thank you for your cooperation.
Sincerely,
Board of Directors of the Boulders Condominium Association