2025 Annual Board Meeting Announcement

This letter is to announce the annual meeting of the University Woods at Centennial Condominiums Unit Owners Association, Inc. To allow for more participation, will be conducting the annual meeting by virtual meeting (Zoom). Below you will find the link to the meeting. The balance sheet, 2024 year to date, and fiscal budgets are attached as well. The University Woods annual meeting is to be held Tuesday, February 18th at 6:30pm. Please return the enclosed proxy by Friday February 14, 2025, so that we will have a quorum to conduct business and elect new board members. If you can attend, we will rescind your proxy.

The Board of Directors has approved the new budget for the fiscal year 2025. The Board has reviewed the expenses and compared them to our reserve report and is increasing the assessments by $23.00 per month, bringing the monthly dues to $258.00 per unit. In addition, a special assessment in the amount of $263.89 per unit has been approved by the board to cover costs incurred due to damage caused by water heaters. The special assessment will be due by March 1, 2025. Expenses due to inflation, insurance and faulty water heaters continue to rise. We have tried to pass a Declaration change that would put the responsibility of the deductible on the individual owner which requires a quorum of owners at the meeting to vote.

Please help us with some matters that continue to affect the community. The board is requesting everyone check your water heaters and if they are older than 10 years, they need to be replaced to help keep damage expenses and insurance rates manageable. Also please keep your A/C filter changed to prevent back up of the condensate lines, make sure the residents are taking trash to the dumpster and not setting it outside the door or around the dumpster. Finally make sure the tenants are aware of the rules and regulations which can be found on the HOA website https://www.universitywoodshoa.com under "HOA Documents"

We are sending this notice both email and by USPS. If you did not receive it via email, please send me your email so it can be added to your file.

If you have any interest in running for the Board, please notify the office.

We look forward to having you at the meeting.

Sincerely,

Board of Directors

Crystal Lynn, HOA Manager