The Finance Committee has been reviewing the capital improvement contribution fee which is paid by new SunBird home purchasers or existing SunBird homeowners purchasing additional homes within the community as investments. Current SunBird homeowners selling their SunBird home and buying a new SunBird home do not have to pay the contribution to the Capital Improvement Fee for the SunBird home they are purchasing. The fee has been $1,000 for these sales which is used for both short term Special Projects and long term larger Capital Improvement Projects.
After conducting a study of what other similar communities are charging, a recommendation was made to increase this contribution to capital improvement fund to $1,500 per (which is still below the average) new SunBird home purchasers. Further, it was recommended that additionally a portion of this amount be placed into the reserve fund to assist in the replacement/maintenance of existing assets. The Board of Directors reviewed, discussed and approved this new policy effective July 1, 2014. This new policy will increase additional funding to maintain and keep SunBird an updated community.