Page created June 10th, 2018 by jmw.

Assessments

Frequently Asked Questions

  1. Q: Why do I have pay assessments to live in Canyon Creek? 
    A: Regular Assessments and Special Assessments are the primary funding mechanism to keep Canyon Creek operating.  Members agreed to the terms of the Canyon Creek when the home was purchased.  Consult your home purchase documents for more information.
  2. Q: What do Regular Assessments pay for? 
    A: Regular Assessments primarily pay (but not exclusively) for operational expenses to keep the neighborhood looking nice and to provide some services to the member residents.  Examples of expenses are:
    • Utilities (Water, electricity, phone & data lines)
    • Common area Mowing and Landscape Maintenance
    • Pool and Bathhouse Maintenance and Cleaning
    • Security Equipment Maintenance
    • Amenities Maintenance (repair of lights and screens for tennis courts, etc)
    • Management Company Services including collection of assessments, compliance reviews and member services (pool keys, new member information, etc.)
  3. Q: What capital funds (i.e. non-expense) do Regular Assessments pay for? 
    A: Some portion of the annual budget is used to cover those item that have a long term payback (typically greater than one year).  Examples in this category are:
    • Capital repairs including (common fence and building maintenance such as Bathhouse Renovation Project)
    • Contributions to the Capital Contributions Fund (also known as Capital Reserves) for future year investments.
  4. Q: What are Special Assessments used for? 
    A: Special Assessments are typically used to cover specific projects usually for a specific purpose.  Typically these special project are for capital improvement projects that have a long term value to the neighborhood.
  5. Q: Are the Canyon Creek Board members or the Architecture Review Committee members enumerated or compensated in anyway by any assessment or fines? 
    A: No.  

Additional Information