MESSAGE FROM THE BOARD
VoF Special Assessment
Dear Homeowner,
I am writing to inform you of an emergency special assessment being issued by the Village of Fountainview Council to cover the costs of repairing the dry pipe sprinkler system affecting the common areas of the condominium buildings. This repair is necessary to mitigate further risks of unexpected pipe failure resulting in water damage.
(The overall costs and resulting assessment amounts were discussed in the March Board Meeting and a supplemental email was sent to everyone detailing changes in the costs.)
The overall costs and resulting assessment amount have decreased since the last Community meeting. The most significant decrease was in the previously estimated DEDC (engineering oversight) costs. The total cost of Phase 1 and Phase 2 of the project stands at $1,210,100, which is an allocation of an emergency special assessment amount of $6,303 to each condominium homeowner, in accordance with the HOA's governing documents.
This assessment will commence on May 1st, 2025, and payments can be made in one of three ways …
· Upfront, all at once ($6303.00)
· Quarterly in advance ($525.05)
· Monthly ($175.00)
A late fee of $25.00 will be applied to each payment that becomes overdue at 60 days.
Please retain this letter for your records. If you have any questions me at kmphillips_us@yahoo.com with “Assessment Question” in the subject line. Please be advised that the Village of Fountainview Council members cannot advise homeowners on individual homeowners’ insurance details.
(Please note that this assessment is not applied to the villas and townhouses.)
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MESSAGE FROM THE BOARD
New Castle County Re-Assessments
Since many within our community have been concerned about the property assessments that we have all been receiving, we were able to obtain a listing of all Fountainview properties sold between 1/2021 and 11/2024. Bill Scheper has kindly labeled each unit based on the unit type, so that each of the condo owners could use that listing for our individual appeals. You should have received the listing in an email.
According to the New Castle County web site, appeal forms for the new assessed values are not available at this time, but will be made available by Monday, 2/3/2025. Individual owners will be required to submit their own appeal form, together with the evidence supporting your requested no later than 3/31/2025 to appeal the assessed value for the taxes to be levied on 7/1/2025.
