Meeting to Discuss Special Assessment for the Wall 2023
When: Thursday, February 23, 2023 @ 7:00pm teleconference
Hello Fairfax Meadow Neighbors,
Likely you have noticed that the City of Plano has begun replacing the screening wall between Sun Meadows and Fair Meadows. This has been coming for more than 5 years. While the city maintains the wall between those streets, the HOA is responsible for the walls both North of Sun Meadows (4001 Sun Meadows) and South of Fair Meadows (4000 Fair Meadows) to the end of the property. Each year at the annual meeting, a special assessment has been discussed to cover the expense of ensuring the walls the HOA maintains will match the wall maintained by the city. It has come time to levy that assessment.
As required by Section 7.05 of the FMHOA Covenants, a meeting will be held on
02/23/2023 to vote on the special assessment.
Please plan to attend or return a form for your proxy. Email fairfaxmeadowshoa@gmail.com for a copy of the proxy for or teleconference information.
The bid for the brick work comes to ~$75,000. There will likely be additional
expenses to restore electricity and landscaping following the brick work. The board
has put together two proposals for raising the funds for the work.
Proposal 1 : Initial assessment of $350 per home to cover the initial rebuild of the
wall. Following the completion of the wall rebuild, a subsequent assessment to
cover the follow-up work of landscaping, electrical, etc.
Proposal 2: A one-time assessment of $550 per home. The expectation is that this
would cover the wall rebuild and a subset of follow-up work. Should it cover all the
follow-up work, credit for next year’s annual assessment will be applied equally to
each home.
Thank you,
FMHOA Board