Memorial Northwest Homeowners' Association
Financial
Community Center Costs Structure


  • In early 2005 the MNW Homeowners Association members voted to take possession take possession of the Memorial Northwest Swim and Racquet Club facilities and increase dues $175.00 per year to fund the activity.  Various scenarios were analyzed and this dues level is believed to be sufficient to fund the facilities under most refurbishment and rebuilding alternatives.   A mortgage of up to $750,000 can be accommodated and the major renovations would be phased under a long term plan without having to increase dues.
  • This mutually beneficial transaction came about as the club (a non profit private organization) was dissolved and donated its facilities to the Memorial Northwest homeowners Association.  At that time the Homeowners Association paid off approximately $20,000 worth of debts of the club and hence the actual transaction was treated as an acquisition.
  • For the remainder of 2005 the MNW Homeowners Association completed various repairs to the facility totaling about $100,000 including safety, an electronic access system and cards, clean-up and power washing, painting, electrical and  construction of a tennis viewing area.  Also purchased were fitness center equipment and updates for the neighborhood swim team.
  • In 2006 a Long Term Community Center Planning committee was formed to evaluate alternatives and make recommendations to the Board.  Spending on the facility is carefully balanced between short term needs and the desire to wait until the long term vision is more fully developed and we know how much in major repairs makes sense.

 

Memorial Northwest HOA MemorialNW@comcast.net  Consolidated Management Services conmgsvc@swbell.net
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