Q: Why do I have pay assessments to live in Canyon Creek? A: Regular Assessments and Special Assessments are the primary funding mechanism to keep Canyon Creek operating. Members agreed to the terms of the Canyon Creek when the home was purchased. Consult your home purchase documents for more information.
Q: What do Regular Assessments pay for? A: Regular Assessments primarily pay (but not exclusively) for operational expenses to keep the neighborhood looking nice and to provide some services to the member residents. Examples of expenses are:
Utilities (Water, electricity, phone & data lines)
Common area Mowing and Landscape Maintenance
Pool and Bathhouse Maintenance and Cleaning
Security Equipment Maintenance
Amenities Maintenance (repair of lights and screens for tennis courts, etc)
Management Company Services including collection of assessments, compliance reviews and member services (pool keys, new member information, etc.)
Q: What capital funds (i.e. non-expense) do Regular Assessments pay for? A: Some portion of the annual budget is used to cover those item that have a long term payback (typically greater than one year). Examples in this category are:
Capital repairs including (common fence and building maintenance such as Bathhouse Renovation Project)
Contributions to the Capital Contributions Fund (also known as Capital Reserves) for future year investments.
Q: What are Special Assessments used for? A: Special Assessments are typically used to cover specific projects usually for a specific purpose. Typically these special project are for capital improvement projects that have a long term value to the neighborhood.
Q: Are the Canyon Creek Board members or the Architecture Review Committee members enumerated or compensated in anyway by any assessment or fines? A: No.
Q: As of December 2018, what Special Assessments are still active? A: Based on motions made at the May 2018 and July 2018 Board of Directors meetings, the board unanimously adopted a $250 per member household by the board of directors to supplement the existing capital reserve funds needed for renovations to the Canyon Creek bathhouse. Members were given the option to pay this assessment as a single amount (of $250 in September 2018) or split into two payments of $125 (September 2018 and January 2019). This $250 assessment amount was a reduced amount from the $400 proposed at the annual meeting. No additional special assessments are anticipated or planned for the bathhouse renovation project.
Q: What is the best way to become aware of changes to regular assessment and special assessments? A: Attend the posted Board of Director meetings and / or read the post meeting minutes.