(Omaha, NE) — Being gobbled up by the city of Omaha annexation plan & having Board members who are lawyers doing pro bono work – both contributed to lower annual operating expenses for Elk Creek Crossing. The board, which released its financials last week, expects to spend $11,935 by the end of ’09, a 23% decline from 2008. The budget pays for expenses including social events, lawn care & property management fees.
Total expenses could be lower if all residents paid their dues on time. Since August, P.J. Morgan Real Estate, the firm that manages ECC at rate of $3,300 per year, reports that there’s $3,455 in unpaid association dues dating back 7 years, a number which includes a 12% late fee charge. Of that amount, residents are behind $700 this year.
President Eric Oxley said the Board does pursue legal action against those who fail to pay dues. The process starts with a letter or two, followed by a potential lien on the property after 180 days.