BELLA VISTA — After seven months and a series of meetings with members, the Property Owners Association board approved another plan for an assessment increase for members to vote on.
The plan was approved by the board Thursday. During the past few months two other plans were discussed but withdrawn. The latest plan gives members a choice. Owners of unimproved lots will see at $2 increase, raising their monthly rate to $18 a month. Improved lots — those with a water meter — would have an assessment increase of $3 to $27 a month. Owners can chose a third tier that would include use of all amenities except golf. That tier would cost $42 a month. Only current owners would have a choice. Any lot that transfers ownership would move into the third tier.
Ed Morgan, board chairman, presented the plan and promised that after 10 years the plan would allow the association to add about $350,000 to its reserve. In November, the board heard a report that projected a $62 million shortfall in a decade. The new plan will also allow a cost of living increase every three years, but the increase will be capped at 3.5 percent annually.
Morgan didn’t know when an election would be held to to vote on the proposal. Board members already are working on a campaign that includes contacting nonresident members by phone. Another item the board hasn’t worked out is the cost to members who own more than one lot.
Some homes in Bella Vista have to be sold with an extra lot because of the location of septic fields. The automatic increase to the third tier for two lots might make those homes less desirable. The board may consider a special fee for those homes, but that might not be legal, Morgan said. The board is still considering that issue.