New HOA Dues Workshop Meeting
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New HOA Dues Workshop Meeting


New HOA Dues Workshop Meeting

SUBJECT:          2007 Budget Update


On December 19, 2006, The Metropolitan held their annual/budget meeting.   The proposed 2007 budget was approved and the Reserves were waived. Attached is a copy for your reference.


On January 1st 2007, an increase in your monthly HOA fee will become effective. Your new fee will be $_______ and is due prior to the 10th of every month in order to avoid a $25.00 late charge. If you have any questions on how to pay your new HOA fee please contact management for details.



A petition to amend the newly adopted 2007 Budget and to hold a “Special Members Meeting” was signed by 25 members during the Budget Meeting. A minimum of ten percent, (10% or13 members), of the voting interest was required to make this petition valid. 


As a result of the petition to revise the budget, a “Budget Workshop” will be held on January 8th, at 6:00 pm, in the clubroom. All members are encouraged to attend this workshop in order to have the opportunity to contribute to revisions in the 2007 Budget.


 Secondly, the “Special Members Meeting” has been scheduled for January 18th @ 6:00pm.   A Notice of this meeting and an Agenda will be mailed 14 days prior to the meeting. If two thirds, (2/3 or 86 members), of the membership is not present at this meeting, in person or by proxy, and if 86 members do not vote in favor of a newly proposed budget, then the newly adopted 2007 budget will stand. 


Although the newly adopted 2007 Budget may be amended in the near future, at this time it is required that you pay the new HOA fee for your unit until revisions are made to the budget.


 If you have any questions please contact Management. 


Thank you.


The Metropolitan at Lake Eola Management


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