PBE POA members are liable for these fees:
- Annual dues. $200.00; paid by all property owners; dues are assessed per lot . . . that is, if you own two lots, your dues are 2 X $200 = $400. Due April 1 each year. Notices are mailed in January.
- Annual water fee. $400.00; paid only by those who are connected to the water system — that is, homeowners. Empty lots on which nothing is built are not connected to the water system and do not pay this fee. Due April 1 each year. Notices are mailed in January.
- Occasional assessments. In past years, we have had two assessments: (1) in 2006 an assessment of $600 per lot to pay for upgrades to the community water system, and, (2) in 2016 and assessment of $400 per lot to pay for the bulkhead protection/beach restoration project. Assessments must be approved by a majority vote of the membership.
- Water system connection fee. The Association charges $5,000 for new connections to the water system. If you are building a home in the neighborhood, contact the Association at our email address — email@example.com — or, ask your realtor to contact the Association Architectural Committee to arrange for payment of the water connection fee.
In 2014-2015, the Association Board of Directors conducted a review of the Association’s capital assets, the life expectancy of each asset, and the projected replacement cost. Capital assets that may need to be replaced — or that we know eventually will need to be replaced — include:
- The pumps in our two wells
- The generator that powers the pumps in case of power failure
- The bulkhead
- Various parts of the water system: wells (2); pumps (2); control devices; air compressor; chlorinator pump; pipes and valves.
Based on this analysis, the Board determined how much cash we need to pay for replacement of these various capital assets. A portion of dues and water fees goes to building up a cash reserve.
We maintain two separate current operations accounts: General Operations, and, Water System. These accounts pay for current bills — grass cutting, electricity for the pumps, and the like.
Similarly, we maintain two separate capital reserve accounts: General Operations, and, Water System. These two accounts function as savings accounts. They are NOT used to pay current expenses. Instead, these accounts are used to accumulate a cash reserve for emergencies.