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2007-12-20 13:11:56 Ray for the Sandy Ridge Subdivision
Do you know why the fees have been reduced to $320 per quarter?. Its because D R Horton want to reduce their payment to the HOA by using up the surplus $100,000 in the account. We as Homeowners of course dont have a say it this.
I checked with the HOA and if you have had the budget for next year then you will see the HOA starts 2008 with $100k surplus and ends it with no surplus.
DRH is reponsible for making up any shortfall against the budget. They get much of the benefit for this as DRH would have had to pay out a lot more if it had stayed at $400 per quarter. Also DRH has got 50 homes left to built to make the 365 homes to complete Sandy Ridge. The HOA cannot be passed to the homeowners until this is completed or until 5 years after the start of the build which is 2009/2010. The effectively means that DRH controls the HOA.
There is of course no building currently going on in Sandy Ridge and their workforce has been reduced from 720 to 6.
Just feel that DRH are not being reasonable and looking after nnumber one as usual.
Regards Ray Ledger