While there’s a reserve item for $70,000, first this will be adjusted downward in our next reserve study because of the land survey how much of the median is actually ours. Then Welk is putting over $13,000 of cash and labor into the project. Finally, several of our fellow Associations contributed over $19,000. So this will end up being a bit over half of the original reserve item amount. And after these adjustments, our reserves will still be over or nearly at the desired 100% funded level.
← I heard that our homeowners are going to be on the hook for over $70,000 for this project. Is that true?