Northwynd Homeowners
What's wrong with the current plan?
We won't know the full scope or cost of the work until AFTER it's completed. No homeowner should be asked to write a blank check or undertake unnecessary repairs
Board's Proposed Plan - What's Wrong?
Insurance Fear Factor
Full Scope of Problem is Unknown
Full Scope of Problem is Unknown
- Homeowners have been told we will become "uninsurable" if we don't replace all the pipes immediately
- No one has explained what other options exist
- Pipe failures occur in specific known locations--stress points of valve connections (not along the bare pipe)
Full Scope of Problem is Unknown
Full Scope of Problem is Unknown
Full Scope of Problem is Unknown
- Number of units needing repairs and scope of damage is unknown
- Identification of leaks, scope of leak damage, and any impacts to inhabitants will be determined after walls are torn apart
- Any permits will then be obtained and work completed. Duration of repairs unknown
Full Cost to Repair is Unknown
Full Scope of Problem is Unknown
Full Cost to Repair is Unknown
There are three different repayment costs associated with this project
1. Special Assessment to be voted on in December
$2.5 million (re-piping all units)
2. 2nd special assessment to come after work done
Cost Unknown (repair leak damage to be found)
3. Monthly HOA dues increase
Cost & Duration Unknown (repay reserve funds already spent on current leaks)