BELLA VISTA — The Property Owners Board is ready to move forward with a plan to raise assessments for members.
The board decided Thursday night to send a ballot out in the fall and, if approved, the increase will begin in January.
Discussion of a increase began in November when the board looked at a projection showing a deficit of more than $62 million during a 10-year period. Since then, the board has considered and rejected at least two plans to increase assessments.
The latest proposal calls for a small increase for everyone with an optional “third tier” which would allow residents to use many of the amenities — with the exception of golf — at no charge. The board also accepted a proposed fee schedule with small increases, as well as some simplifications.
The proposed assessment increases are $2 a month for an unimproved lot — from $16 to $18 — and $3 for an improved lot, going from $24 to $27. The third tier is optional and available to owners of both improved and unimproved lots. The $42 monthly fee includes using all amenities except golf.
The corresponding fee schedule gives third tier members some special prices for golf including the option of an annual golf fee. The first two tier members can’t buy the annual fee.
When property transfers to a new owner, the assessment automatically goes to the third tier so eventually all property owners will pay the same assessment.
According to a proposed schedule, the summer will be devoted to marketing the plan with a ballot going out Sept. 1. Charlie Teal, board chairman, said the group’s governing declaration calls for a quorum of 50 percent. Ballot will be mailed, one per lot, to members in good standing. In order for the election to be valid, 50 percent of the ballots must be returned. When the ballots are counted, 51 percent of the returned ballots must be in favor of the increase for the measure to pass.
If less than 50 percent of ballots are returned, a second election can be held in 90 days. The same numbers of ballots are mailed, but the quorum for the second election drops to 25 percent.
The proposed schedule allows a second ballot to go out on Nov. 1 and counted in mid-December so the increase could begin Jan. 1.