Bourne, MA Condos for Sale
The annual meeting for the Villages at Brookside was held on Sat., Sept. 29, at the Bourne Methodist Church. New and returning trustees were introduced:
– Vik Mani, Chair
– Bob Suarez
– Tom McLaughlin
– Jim Lynch
– Jack Dewitt
There was an update on the Sea Knoll paint/repair project, with no conclusions yet as to the scope or cost of the work.
The Fiscal Year 19 Proposed Budget Analysis was presented. As always, some expenses went up, some went down. Overall, income will increase by 3%, the reserve will increase by 4.6%, and administrative expenses will increase by 1.5%. An overview indicates legal expenses being reduced by 11.3%; management fee increased by 2.2%; audit and taxes increased by 14.3%; property and liability insurance increased 5%; State income tax increased by 20%, and Federal by 15%, both reflecting income due to interest earned.
Building expenses decreased by 1.7%; grounds maintenance increased by 3.4%; utilities decreased by 2.8%; expenses for the waste water treatment plant (WWTP) increased by 25.6%. [Read more…]
Waiting in line to check in at annual meeting. Didn’t quite make a quorum, so residents will be emailed to vote for open seat on Board. Consensus was that The Dartmouth Group did a good job in their first meeting as new property manager. The news? Fees going up 5% to cover increased expenses. This is common in all condo associations. The Board and manager are in constant dialogue with vendors to keep expenses in check. The community is well-run, and looks beautiful.
