It appears that there has some confusion around the two Special Assessments. A few members have expressed that they thought that the current board approved the Building Painting Project and the Roof Replacement Project. This current Board took over in 2022 and these projects occurred before that transition.
This is an explanation of those TWO Special Assessments that were levied against the Members at JLV in less than two years between 2019 and 2021.
The Boards at these times were:
2019 – President – Barbara Vela; VP – Ellen Heulitt; Secretary – Cindy Davis; Treasurer – Bill Cousins; Director – Terrel Kirkland
2020 – President – Barbara Vela; Secretary – Terrel Kirkland; Treasurer – Cindy Davis;
2021 – President – Barbara Vela; VP – Sharon Ann Sergent; Secretary – Terrel Kirkland; Treasurer – Cindy Davis; Member- Terrel Kirkland
A Special Assessment is when the Board votes to assess the Membership for a financial need. If the Board handles the Budget and Funding the Reserve Funds correctly there should never be a need for one. Read more about them here:
What is a Special Assessment | Jupiter Lakes Villas
Reserve Study Report 2021 – Prepared April 2020
Important facts contained in this Reserve Study (below). Top of page 3 shows:
- The Remaining Useful Life (in yrs) for the Building Paint was 7 years.
- The Remaining Useful Life (in yrs) for Asphalt Shingle Roof replacement was 7 years.
It appears the Roofing Project should have been done in 2028 not in 2021. Instead, it was done 7 years early for no apparent reason. That was 7 years before it was due AND 7 years that the COA could have collected funds into the Reserve Fund over time to pay for the Roofing job instead of doing a Special Assessment of $880,000.
It appears Building Paint Project should have occurred in 2027 not in 2020. That was 7 years before it was due AND 7 years that the COA could have collected funds into the Reserve Fund over time to pay for the paint job instead of doing a Special Assessment of $206,000.
Also it is important to note that changing the building colors without a “Material Change” vote of the membership was illegal. The painting of the wooden fences with grey paint was also an illegal material change as they were stained wood prior to be a painted.
Not only does completing projects prior to their lifetime put a financial strain on the Membership but it alo means that the next time the project needs to occur is also arriving 7 years earlier.
Special Assessment 2019 – $206,000 = $1514.00 per unit.
The 2019 Board having not reserved enough funds to fill the Parking Lot Reserve Funds voted to assess the membership for the total amount that was needed to complete the project. For some reason they decided to put two projects together Painting of the Buildings Project and the Resurfacing of the Parking Lots Project.
Having not reserved enough funds to fill the Building Painting Reserve Funds voted to assess the membership for the total amount that was needed to complete that project.
Breakdown of the Reserves and unfunded Balance.
As you can see the cost of the parking lots had an unfunded balance of $135,992.54
The cost of the Building Painting had an unfunded balance of $62,867.65.
Parking Lot asphalt Contract
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Building Painting Contract
Note this contract only shows $105,425 so we are not sure why the painting was valued at $190,720. Of course this is not the signed contract. Other proposals from that same time were all about $68k to $106k.
Special Assessment 2021 – $880,000 = $5500.00 per unit.
As per the above reserve sturdy recommendations to replace the roofs in 2027 was ignored and a Special Assessment was put in place by the 2021 Board. There was only $150,000 in the Roofing Reserve Fund. The Board at that time failed the Members by not approving increases in the Maintenance Fees to fill the Reserve Funds for these Projects but instead choose to apply an assessment with three months notice.