There was an error in this gadget

Wednesday, June 10, 2009

ALPOA initiation fee: the reason

From ALPOA president Naida Arcenas:

Many people have questioned why a new membership is so much more expensive than a regular membership. The reason is that 20 years ago when the Dam needed replacing, there was not enough money saved. All members were assessed a $200 additional one-time fee to pay for repairs on the dam. ALMA also sold off many of its properties to raise money, and it was determined that we needed in the future to continue to assess each new membership this same one-time fee and invest this money in case the Dam needs additional work or replacing. We additionally, try to set aside money yearly to this fund for future dam repairs or other lake needs in case we have water or weed issues. ALPOA decided 8 years ago to lower the amount to $150 as it was too expensive an amount for new families. We at ALMA and ALPOA continue to strive to maintain the lake while trying to keep costs down.