Association Dues

The Board of Directors, in conjunction with our property management company and the Finance Committee, is pleased to present the Association Budget for the upcoming fiscal year.

This budget reflects months of due diligence to ensure the long-term financial health of Hampton Place. It addresses the Association's immediate operating needs, plans for known future capital costs, and establishes a prudent buffer for unforeseen expenses.

Total 2026 Lot Assessment: $835.46

• This is a reduction of $68.78 from the 2025 Assessment.

2026 Payments

The first installment of your 2026 annual assessment is due on January 1st. The total has been divided into three payments, with some changes to the payment dates from last year. The total per lot, broken down as follows:

• January 1, 2026: $358.94 per lot
• April 1, 2026 $358.94 per lot
• July 1, 2026: $117.58 per lot

Key Budget and Community Updates

• Accounts Receivable Success: We are pleased to announce a major achievement in collections. We have reduced the outstanding accounts receivable balance to the lowest level in years, with nearly all previous years’ balances successfully collected. This recovery was a major focus in 2025 and has significantly contributed to our financial health.
• Changes: To encourage on-time payments, several changes are being made to the collections policy for 2026:
  • The grace period for unpaid balances is returning to 30 days (from 15 days).
  • All late fees will be changed to $40.This is a reduction of $10.00 for the initial late fee and an increase of $5.00 for the subsequent late fee for outstanding balances on the first of each month.

Note on Reserve Funding

• The current reserve payment is projected at $117.58 and is due on July 1. This figures subject to revision based on the number of new homes integrated during Phase 8. Capital contributions from new home sales will be utilized to offset the Association's reserve obligation. Revised statements will be provided no later than June 1. The Board will provide monthly status updates.

Phase 8 Development Update

Home construction for Phase 8 is underway, the final planned phase for Hampton Place. The developer plans to add 52 new homes, a common area, and our 15th pond. We are currently tracking approximately 20 homes listed as "Sold."

Detailed Explanation of Financial Sections

Revenue & Assessment Allocation

The assessment reflects the total expenses of the Association, equitably assessed to all homeowners (currently 364 lots). This includes:

• General Operating Expenses: The costs for day-to-day services.
• Reserve Fund Contribution: This is a vital part of our financial planning, replenished annually based on the 2025 Reserve Study. These funds are set aside specifically for major capital repairs (e.g., pool, roads, detention basins) to protect property values and prevent the risk of substantial special assessments.

The Board has resolved to fully fund the reserve account for 2026.

Expenses: Securing Value and Quality

The Board conducted extensive due diligence and contract negotiations to secure the best value for essential services.

Key Changes in 2026 Expenses:

Extended Pool Hours

Pool hours will return to opening daily at 12 noon. Wednesday, Thursday, and Friday will have extended hours until 8 PM.

Stormwater Management

The development features fourteen (soon to be fifteen) ponds, creeks, and swales that function as an integrated stormwater management system. Maintaining these areas is crucial for flood prevention and regulatory compliance. We have strategically budgeted to address significant vegetation growth at the pond inlets and continued swale/creek maintenance.

Assisting Homeowners

The Board understands that circumstances can hinder timely payment. We kindly urge any resident facing payment difficulty to reach out to Lawrence Management immediately to discuss options. We are deeply committed to finding mutually agreeable resolutions before resorting to legal involvement, as our flexibility to negotiate is significantly curtailed once legal fees are incurred.

Conclusion and Resources

Thank you to the Board and Finance Committee members for the long, voluntary hours dedicated to producing this detailed and prudent budget. A full copy of the budget and the 2025 Reserve Study has been uploaded to Vantaca for your review.