Southwyck 4 H.O.A, Inc
Subdivisions: Southmanor*Edgewater Estates*Southfield Village*Huntington Park
Updating the 1984 Declarations
What is Changing?
1- Removed mentions of the declarant, "General Homes Corporation".
2- Limit Authority for Assessments (levy and collections) to Southwyck Section IV HOA, the only Association where Directors are required to be homeowners in Southwyck Section IV.
3- Added the option to bill assessments either once or twice a year.
In an effort to decrease collection costs to the Association, and to make it possible for homeowners who want to pay the Annual Assessment all at once, we will at least have this option. Currently, the Declarations wording doesn't give us an option.
Homeowners will have the choice to pay assessments once or twice a year without penalty.
Voting for this Amendment is your best way to protect your investment, please return your proxy today!
OLD Southwyck Section IV Declarations. Proposal - NEW Southwyck Section IV Declarations.
Question and Answers
Q - What's in it for me?
A- Limit Assessment Authority - After the Amendment only Southwyck Section IV HOA will have the authority to levy and collect assessments on Southwyck Section IV homeowners. The 1984 Declarations give the authority to levy assessments to both, the Southwyck Community Association and Southwyck Section IV Homeowners Association, which means that unlike all other HOA's that have completed the development process in our area, we are the only ones having to answer to two Associations.
Q- When does the current shared amenity agreement expire (pool access to the Silverlake pool)?
A- The shared amenity agreement is between Silverlake and Southwyck Section IV, HOA. Southwyck Community Association doesn't have anything to do over your access to the Silverlake pool.
The current agreement with Silverlake expires in 2030 with some standard cancellation provision in the contract. Fortunately for Section IV, Silverlake is very interested in maintaining our shared usage agreement as the Silverlake residents who live across the street are frequent visitors to the Section IV Morgan Rd pool. The Silverlake board is aware of this fact and have no issues with our current arrangements.
Q- What happens if it expires and we no longer have access to the Silverlake pool (Morgan pool doesn't compare quality wise!!)? Do we build a comparable pool or renovate Morgan pool to be the same?
A - As stated above, the agreement is long term with Silverlake. While subject to cancellation, Section IV maintains a strong working relationship with members of the Silverlake HOA and both have mutually expressed their interest in maintaining our agreement.
As for the quality of the amenities, Silverlake benefits financially from the commercial properties (Target, Khols, etc) which contribute significantly to their budget. As a homeowner in Southwyck Section IV, the pool and the Morgan Rd park are maintained by the dues paid by the 755 member's homes. Section IV continually strives to efficiently spend the HOA's money in maintaining and improving our facilities as our budget allows.
One of our goals in the Section IV HOA amendment is to allow all of the money collected from Section IV residents to be used in a more controlled and cost effective manner for our amenities.
Q- How much lower are the HOA fees expected to be?
A- It is hard to determine the exact amount your future HOA fees will be until all contracts to our vendors are negotiated and put in place. What we can tell you is that by combining contracts for similar services that we share with Southwyck Community Association (Management Company, Landscaping, etc) it is our goal to reduce our operating budget which would allow the fees to be evaluated. Without a doubt, the current arrangement with the Master provides for Zero chance of our fees being reduced and it is more likely that they will be increased in the near future.pe your paragraph here.
Q- What risks are associated leaving the "Master" (Southwyck Community Association)?
A- The directors of the Section IV Board feel that there are no risks associated with ending our relationship with the "Master". We feel that the money collected from the residents in Section IV should be spend in maintaining and improving Section IV while being managed by Section IV Homeowners, just as the current governing documents mandate.
Southwyck Section IV HOA can only have directors who own property and pay assessments to Section IV HOA.
You do not have to own property in Southwyck Section IV to be part of the board of the Southwyck Community Association, which controls the collection of your assessments.
Q- How much or what percentage of our fees goes to Southwyck Community Association?
A- We pay annually $222.00 to Section IV and $306.00+late fees+finance charges to the Master.
Q- What areas are maintained by Southwyck Community Association? How can we be certain our Section IV Homeowner Association will seamlessly take on the responsibility of the Community Association?
A- In Section IV, common areas (near roadways) and entrances are maintained by the Community Association. We have an active list of all activities that need to be done once we take over responsibility for these areas. Most will be handled by our current management company. The activities are similar to when the management company first starts managing a new HOA and they have a lot of experience with this. The maintenance areas will be pull into the existing landscape contract we have. In many cases this just means mowing a few extra feet on the outside of the sidewalk in areas we already mow.
Q- Is having more funds the main reason to separate? Has there been a disagreement between the two boards that initiated the change? If so, what? What is the current boards plan if we have more funds?
The flyer outlines the main reasons, one HOA with no duplication of management company expenses and landscape expenses and confusion on who to contact and all funds staying in your section.
There is no disagreement that initiated the change. In fact, when the question was asked at the Southwyck Community Association Annual meeting in January, most homeowners present favored a single HOA.
There are no official plans if we have more funds. We would like to hear any suggestions. Our specific hope is that we can lower assessments.
Q- Will the Section be managed by a management company or will that change?
A- Current plans are to continue to use our management company (SCS Management) the only change will be one management company to pay (instead of the Community Association and Homeowner Association) and less administrative headaches transferring money and tracking homeowners balances at both management companies.