Dear Spring Run Owner,
Despite several reports at Board Meetings and even the most recent Neighborhood Representatives Meeting this past Tuesday, the rumor of a Hurricane assessment persists. Just this morning, another concerned owner stopped by the office to confirm the charge. I informed him that there will be NO hurricane assessment to the Membership following the damage from Irma.
Spring Run’s hurricane deductible came out to $412,000. Our expenses came close but as of this time, have not exceeded it. Despite that, we did receive Insurance proceeds of $250,000, and we had reserved $50,000 for hurricane damage, leaving us with approximately $100,000 in expenses to the Club. The Board felt strongly that due to the assessments for damage in other neighborhoods, we could handle this cost and provide some relief to our owners.
Please help spread the word.