New Claim Message from HOA President: Pipe Assessment and Annual Meeting

Greetings New Claim Owners,

Two very important announcements.

First, we are moving forward with the winning bid on the 2023 pipe project. Unfortunately, the original assessment was insufficient to cover the final bid costs. The Phase 1 Pipe Assessment of $849,484 was based on our original projection. During the bidding, it became apparent the ballpark bid given to us was an underbid. We did not select that company. The New Claim HOA Board was required to pass a SECOND ASSESSMENT for $253,838. All of this is detailed in the attached DRAFT minutes from May 11th, 2023 along with the economic summary and impact by unit.

This is tough news, I understand and, of course, I feel the same. The bidding process was thorough and painstaking and we will reap the plumbing benefits for years to come. I highly recommend each owner review the minutes carefully. If you have questions, you can email Maria and I will be happy to schedule phone calls or zoom meetings if further clarification is needed.

Here are the major financial points you need to know: Pipe Assessment Two begins on July 1, 2023 and will be allocated to each association owner related to percentage ownership. Owners will have until October 1, 2023, to pay Assessment Two up front, if they wish. Monthly payments for Assessment Two will include interest and begin on July 1, 2023, and continue through June 2026 and will average $102 for a one bedroom and $143 for a two-bedroom unit.

Secondly, the New Claim Homeowners Association will be conducting an Annual Meeting on Wednesday June 17, 2023 beginning at 5:00 pm MST followed by an election to fill TWO open Association Board positions. The Annual Meeting will again be on Zoom. You can either login with your computer or call in. Connection information will be sent prior to the meeting.

We look forward to seeing and hearing from you at the Annual Meeting.

Sincerely

Tomi Owens

New Claim HOA President