Hello Owners at Ocean Bay TownHomes,

Please find enclosed below your 2024 Budget from your Board of Directors.  Your HOA dues will remain the same for the fiscal year of 2024.  Please note that the Insurance line items have been removed from the budget.  This is due to the increasing amount of the Premiums for HOAs.  We cannot no longer budget for insurance as we used to.  Prior to this we could raise it 15%-20% and be comfortable with the budget to be able to pay the Policy amount.  So, when it is insurance time there will be an Insurance Assessment.  The amount will be divided among all unit owners.  Please know this….your Board of Directors along with your management Team looked and reviewed all options not to raise dues and to balance the budget.

An awesome quote from one of your Board of Directors…..”The monies generated with the dues of $255 is needed for increased bills ie; property taxes, cable, garbage etc. The HOA fees are necessary for yearly expenses and replenishment of a a drained reserve account. There will be maintenance needed in the community in the near future. This needs be a priority.”

Any questions please feel free to contact me ASAP.