Burnt Store Marina
PGI Section 22 Homeowners Association
Special Assessment for 2017 and 2018
To all Section 22 residents and neighbors:
At the regular monthly board meeting for PGI Section 22 held this past Tuesday, February 21, 2017, the Board acted upon many agreements and established the Special Assessment for 2017.
The Special Assessment for 2017 will cover 10 months from March 1, 2017 through December 31, 2017. The 2017 Special Assessment will be $320 per unit.
The Special Assessment for 2018 will cover the entire year. The 2018 Special Assessment will be $380.00 for the entire year.
On this coming Monday, February 27th, we will be signing all the documents with BB&T for the mortgage loan of $5,000,000 to cover the purchase price of $4,000,000, pay for all closing costs and expenses, and begin to set up capital reserves and possible immediate capital expenses for the land and amenities being purchased.
We are tentatively planning on closing the purchase of the land and amenities with Castlelake LLC. on Tuesday, February 28, 2017.
DISCLAIMER: As we all know, anything big and small can and could hold up the final closing with the present owners. So Tuesday, February 28th is our goal, but one never knows until everything gets signed and becomes legally official. Please be patient as we go through this final leg of becoming owners of our land and amenities.
The updated Land Survey for the new land and amenities that we are purchasing is due to us this week. We contracted with the same engineering firm that had completed the land survey for Castlelake when they bought the property. This survey is updating the original survey that was completed in December 2014, to be current to the date of our closing of the purchase.
We have begun our Reserve Study for all of our land and amenities. That should take the next 2 to 3 months to complete. We are in Phase I where Forge Engineering has completed its initial site evaluation and is putting together a draft document for us to review.
You will be receiving several blast emails over the next 2 weeks. We ask, and hope, that you will forward these emails to those in your association, and for the independent homes, to your neighbors. Through this entire process we have attempted to keep everyone updated the best we can.
Finally, all information as it becomes available, will be posted on our website.
On Behalf of the Board of Directors of PGI Section 22,