Tuesday, October 16, 2007

Kings Forest Board Setting Budget This Month for 2008

The Kings Forest board of trustees is meeting tonight (October 16) to discuss the budget for 2008. Mark your calendars to attend the board meeting on November 5 to hear the results.

Key decisions will be whether to raise the assessment by a slight amount and/or allocate some portion of the budget to improving the common areas of Kings Forest -- including redoing our entrance treatments -- as part of resident efforts to revitalize the appearance of Kings Forest.

The Kings Forest Revitalization Committee made the recommendation to the board that it review the alternatives that have been discussed in past months to fund resident-approved projects over the next few years. The decision to set aside money in the 2008 budget will give the community guidance on how much it can spend on revitalization.

Specifically, the Committee is recommending:
• Designation of a Kings Forest Revitalization Fund to finance projects anticipated to comprise the Revitalization Plan that's in development.
• Investing $25,000 in the Kings Forest Revitalization Fund in 2008 to be used for high quality projects.
• Raising the assessment to the maximum allowed.
• Designation of additional moneys gained by increasing the assessment and reducing expenditures associated with the pool to the Kings Forest Revitalization Fund.

This is based on the following assumptions:
• Maintenance budget will remain separate and will continue to address ongoing upkeep of existing infrastructure.
• We'll target finalization of the Revitalization Plan by March of 2008.
• The plan will outline an incremental approach to achieve our revitalization goals with close community oversight.