By a yes vote of 60.9%, SWC owners approved the proposed restoration plan with two additional conditions suggested by the Board of Directors. These conditions are: The association must be able to obtain 15 year term financing for owners unable to secure their own funds for the special assessment and the base bid of the project must not increase by more than 3% of the initial bid before any contract is signed by the association.
SWC owners are strongly encouraged to pursue their own financing options as a superior alternative to the financing which will be available through the association. Lower monthly payments and possible tax deductions are just two of the benefits. Payments on the special assessment may be due as early as Jan 1, 2009. More information to follow. As always, all offical communication of the association will be sent by mail to the address on file with RCA Management.
