PROPERTY OWNERS' ASSOCIATION

“TOO MUCH ROADWORK AT THE END OF THE POA MONEY”
(or “You’ve Got the Money Honey, POA Has the Roads”)

Q & A from the Horseshoe Bay POA Board about the 122 miles of roads owned by the Horseshoe Bay POA

Q1: How is the Horseshoe Bay Property Owners’ Association (POA) funded?

A1: Horseshoe Bay property owners pay an annual maintenance fee to the Horseshoe Bay Maintenance Fund, which then sends the POA’s portion to the POA. For 2008, the POA expects to receive about $1 million for its share of the maintenance funds collected. Through June 30, 2008, the POA has received $950,819 of maintenance fees. The POA is prohibited by its bylaws from borrowing money.

Q2: How much does the POA spend on the roads each year?

A2: Historically, the POA spends about 25% of collected maintenance funds for road maintenance. For 2008, the POA has budgeted $160,000 for road paving, and $110,000 for seal coating, and the POA expects to pave about one mile of roads and seal coat about three miles of roads.

Q3: What is the current road maintenance program for POA roads?

A3: Each year, the POA Board and General Manager select the roads needing the most attention. The POA then repaves or seal coats the selected roads. “Paving” entails repairing imperfections in the existing roadway and resurfacing with 1 ½” layer of new HMAC. “Seal coating” involves applying liquid asphalt and rock to the road surface. This year the POA is experimenting with sealant without a rock cover layer. Recent engineering studies show the quality of the POA roads is declining. The POA simply cannot maintain the roads under its current funding.

Q4: So, is the POA going to ask for a Special Assessment?

A4: It depends on the responses to the Survey to be mailed to property owners soon.

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