Watch out, Folks. Amendment #10. Vote NO.

 At 4:55PM today, the HOA office emailed "information" about Amendment No. 10, Capital Contribution Assessment.

That email was sent out on behalf of The Summit Community Board of Directors. The Directors are Brenda Bryant, Noel Weatherbee, Angelo Turley-Moore, Linda Potter, Jeff Lummel, Tanisha Holmes, and William Hill.

Notably, the attachment was titled, "Why Vote YES on Amendment 10?" (Bold and capitalized YES were in the original.)

Think: why is this Amendment so important to the Board?

Because The Summit's HOA is running out of money. Over the past few years several boards of directors have collected money and budgeted for Reserves. They silently reduced the Reserve Contribuition and spent your money on operations. I have covered that in other articles here.

In 2020 the Contribution to Reserves was budgeted at $163,965.

In 2024 the Contribution to Reserves was budgeted at $0.00.

Did your Annual Assessment ($510/year) go down? No!

In 2025 the Contribution to Reserves was budgeted at $3,000.

The CC&Rs (Art. X, §6) requires, in part, "The Board shall set the required capital contribution in an amount sufficient to permit meeting the projected needs of the Association, as shown on the budget, with respect both to amount and timing by annual assessments over the period of the budget."

In 2026 the Contribution to Reserves is budgeted at $91,081. Will all of that reach Reserves?

Note: the 2026 Proposed Budget is posted on the HOA's website. It appears that the Board never approved the 2026 Budget!

So now the HOA needs money for the Indigo dam repair, street light repair, and other capital expenses. And they don't have it.

Sticking it to buyers is not the answer. Responsible budgeting and financial management are the answers. The Annual Assessment should have gone up every year.

Begging for a Yes on Amendment 10 should result in an automatic NO. 

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