If you couldn’t attend the annual meeting , the most critical issue discussed was the storm damage.
It was originally determined that a special assessment would be necessary to fund the clean-up and damage to the property. Our insurance company indicated that they would not pay for any of the cost for clean-up of downed trees; only the damage done to physical structures on the property. Our insurance premiums are expected to go up significantly. As a result those present voted to eliminate grills of any type on the property in order to reduce our cost of insurance. All grills of any type must be removed ASAP or owners will be subject to fines.
We further examined our policy, and it had a special provision that allowed up to $25,000 for trees downed by natural disasters; especially if they were over top of or leaning on buildings and/or carports and other such structure. We also had a $5,000 deductible which was waived since our bids to take care of the damaged physical assets were lower than the insurance estimates.
Plainfield township agreed not require us to take down all downed trees on the backs of our buildings at this time, only the ones that could result in damage to either Northwood’s or the neighboring properties. We anticipate having additional landscape costs that will not be covered by insurance.
We are being required by the Health Dept. to add 2 bathrooms with outside access to the clubhouse. Northwood must provide user access whenever tha pool is open, including weekends. The estimated cost is $70,000.
Instead of a special assessment, Northwood Hills will be funding these items by increasing dues from $265/mo to $300.00/mo beginning January 1, 2024. Historically, we have put aside 10% of the dues for capital improvements. Going forward the association will be setting aside 15% of the dues for those purposes.