HOA Reserve Study – Level 3

Good Afternoon. Fall is here and as you can see we still, and by “we”, I mean all of us are fortunate to have our Board of Directors, all under the leadership of Karen, our President, taking care of business. We are governed by our Home Owners By-Laws and the Covenants of rules and restrictions. When we agreed to buy into the Lake of the Woods Community, we agreed to follow the declarations to sign, when we said Yes! I want to live here.

Old news. I know you know this. Did you know we are running a business? By “business” I mean the “business” of making sure we conform and have what we are paying for, that are the resources like WATER, PARKS, etc. It all costs money to keep these numerous resources going in useable condition and available 24-7.

Above is the study of reserves (money) we must maintain, according to our By-Laws. I urge you to read through this document as soon as you can, but for sure before the Annual Home Owners meeting, sometime in November.

I put the document on the web site so you can download it to your device to read later. I hope after reading even the first page you can appreciate what your BOD is doing for you and how lucky we are as a Home Owners Association to have the quality and integrity we have in our Board members. Hats off to them.