Please be advised the Mattabasset Condo I Board of Directors will vote at the monthly Board of Directors Meeting Wednesday, November 20, 2019 at 5:45 pm to approve a monthly fee increase of 5% effective January 1, 2020.
Maintaining our buildings and grounds while trying to keep owners' costs down is an ongoing challenge, but a task the Board gladly tackles. The Association's last increase was in 2013. The Board does not look at this increase lightly and understands and appreciates the burden of adding another expense. The unavoidable costs required to maintain our community makes this additional 5% monthly fee increase a necessity providing an additional $6,400 annual boost for the rising cost of insurance policy, legal and accounting fees, upcoming total roof replacement over the next three years followed by painting and other such significant capital improvements.
Please plan to adjust any automatic payments or any other payment arrangements you might have to meet the increase beginning January 1, 2020. The exact monthly amount will be in the 2020 payment coupons.
Watch for your payment coupons in December. There will be a change beginning January 1, 2020. Our long time accountant, Sharon Farmer, will be retiring at the end of this year. Your Board is in the final stages of securing a new accounting company and will share more information this coming month.
You are welcome to attend the next Condo I Board meeting with any questions you may have. The next monthly meeting is November 20, 2019 at 5:45 pm followed by our annual meeting at 7 pm. All meetings are at the pool office, 100 Natchaug Drive, Meriden, CT.