A divided Amenity Authority Committee cast a decisive vote Wednesday on the future of the deferral rate on amenity fees.
The AAC established the $155 deferral rate back in 2010. It meant that homeowners north of County Road 466 would be subject to amenity fee increases inline with fluctuations in the Consumer Price Index, but that the homeowners’ monthly amenity fee would be capped at $155.
As she did earlier this week with the Project Wide Advisory Committee, Budget Director Barbara Kays laid out three options for the AAC to consider:
• Remain at the current “cap” of $155. The downside of that option is that projections show that within a few short years, the AAC’s expenses will have begun to outpace revenue.
• Eliminate the deferral rate.
• Increase the deferred rate, and as an example, Kays offered the idea of setting it at $185.
You can see her entire presentation at this link: AAC presentation by Budget Director Barbara Kays
The age of the homes in the AAC, located north of County Road 466, has created a unique situation. Some homeowners are still down in the $40-$50 monthly range, although most are in the $140 range. In other words, many homes have a long way to go before they will reach the cap.
PWAC has many more homes already at the cap and is essentially leaving money on the table. PWAC reached a consensus Monday to eliminate the cap.
PWAC and the AAC will have a second joint meeting on the topic at 9 a.m. Monday, April 15 at Laurel Manor Recreation Center.
“We make our own decisions. We are in a better financial position than they are,” said AAC Chair Ann Forrester.
She and fellow AAC member Don Deakin indicated they were interested in a closer examination of the AAC’s finances, including in May at a budget workshop, before reaching a final conclusion on the deferral rate.
However, they were outnumbered.
“Why don’t we just eliminate it? I can’t see any reason to continue it,” said AAC member Carl Bell.
He made the motion to eliminate the deferral rate.
His motion was seconded by AAC member John Wilcox.
“I think it’s time to make a change,” he said.
In the end, Bell and Wilcox were joined by AAC member Lowell Barker, making it a 3-2 vote.