AMENDMENTS FAQ

Give me a good reason to vote for this? What’s it for?

Costs in our country have increased dramatically in the last few years. As an administrative organization working for the homeowners of Nassau Bay Homes Association, we have many essential expenses.

Insurance: we carry insurance on the Marina and Pool. While the marina does generate enough revenue from slip rental to support itself and save for maintenance, the pool is a cost shared by all homeowners as a general amenity. The insurance has increased 20% for the last 2 fiscal years. Attempts to find a lower rate have been unsuccessful. This insurance is essential to protect all homeowners from liability and will only continue to rise.

Reserves/Savings: Why do so many big companies always need government bailouts in times of financial hardship? Because they don’t set aside money in “reserves.” It was only in 2021 that the NBHA board set up a reserve schedule to carefully plan and save for future maintenance projects and financial needs. All projects thus far were paid for with cash on hand. As costs have increased dramatically with inflation and income has remained the same since 1962, the cash on hand has dwindled, leaving nothing to pay for major expenses.

Legal Fund: Nobody wants to get sued, but unfortunately it seems a normal part of society today. This is especially true when you are a homes association. The NBHA has never had a specific reserve fund for legal expenses. An HOA should have funds available to protect the association in the event of a lawsuit. As the association is legally obligated to enforce the deed restrictions, we are at risk of a contentious response and legal issues with any violation notice sent. The NBHA would like to put funds into reserves for future legal needs to protect us all.

Why doesn’t the HOA do what other non-profit organizations do and have fundraisers or look for donations? 

The NBHA is not a charitable organization. It is a non-profit, administrative organization tasked with maintaining the beauty and value of the community for its members. First this means, the NBHA does not take in more than it needs. Any money brought in is either used that fiscal year or set aside for future needs.   Second, NBHA does not do philanthropic work which benefits a wider community and is not entitled to the charitable status that allows donations to be tax deductible. Most importantly, fundraising will not solve the budgeting issue. HOAs use special assessments for sudden unexpected projects that need to be financed right away. The Board has the option to assess every homeowner a one time fee to cover all necessary costs. However, this will not set the association up for long term financial stability. The issue is that we are operating on a budget set in 1962. Goods and services have increased eight to ten times during that time and will continue to increase. There is no way the HOA can continue operating on a budget that was sufficient in the 1960s, just like a family would not be able to live on an average salary from 1962. 

Are my dues paying for the marina?

No. The marina generates its own income through slip rentals. The marina brings in enough revenue to save for future maintenance and even helps with some of the pool expenses. 

Why do you not charge more for pool passes (pool tags, swim tags)? 

We would have to charge between $300 to $500 per pool pass to be even close to making enough to keep the HOA’s budget healthy and allow us to save for  future maintenance. And that is if we assume that the same number of people will keep buying pool passes every year, however that leaves the HOA not knowing how much they will make any given year and having to hope that people will buy pool passes to ensure that we have an adequate budget. It is also unfair to put all the burden on people who use the pool when the increase in budget is needed for projects that will benefit the whole community.

How much is NBHA wanting to increase the dues?

The NBHA needs to increase the cap on dues. The new proposed increase is an annual cap of $.02 per square foot of lot area. Currently, you are paying $.01 per square foot of lot area. This one-cent increase will significantly help the home associaiton’s operating budget and reserve funds.

Is the raise to cover all taxes that were not paid? 

No, this raise is to try and keep up with inflation. The NBHA budget was set in 1962 and has not been increased since. Just like a family cannot live on a salary from 1962, the association cannot keep operating on a budget from 1962, when the cost of goods and services has increased ten-fold. 

Who is responsible for maintaining the white wall? 

The white wall belongs to the NBHA and it is our responsibility to maintain it. There was a deed found in the NBHA office that clearly states the wall is the Nassau Bay Homes Association responsibility.