TBO.com - TBO is Tampa Bay Online

Live Oak cuts owner fees

ADVERTISEMENT

By KENNETH KNIGHT

kknight@tampatrib.com

Published: November 4, 2009

LIVE OAK PRESERVE - With residents in control for the first time, property owners will pay $420 less next year to run their homeowners association.

The cost savings for homeowners was approved last month as part of the Live Oak Preserve Association's 2010 budget.

Each property owner will be required to pay $129 a month to help cover the master homeowners association's operations and maintenance expenses. The outcome will mean a $35 monthly savings per household.

"Some great things are happening in Live Oak Preserve," said Frank Micallef, president of the Live Oak Preserve master homeowners association. "We have great possibilities."
Micallef said the board's decision was in the best interest of residents.

"People were happy," he said. "People congratulated the board."
Micallef and his Live Oak Preserve neighbors gained control of the master homeowners association after bankruptcy forced developer Engle Homes in May to relinquish its authority of the 1,100-home development.

Engle's parent company, TOUSA, filed for Chapter 11 protection last year and has been trying to sell off its inventory of homes and developments.

A new developer is being sought for the community.

In the meantime, homeowners have rallied behind their new association board.

In turn, the board promised to work on a bulk cable television contract approved by Rick Feather, a former Engle official who was president of the developer controlled board. The contract ties the community to a 15-year agreement with Bright House.

Representatives from the new board have been in talks with the cable operator in hopes of working out a deal.
Micallef declined comment about Bright House when asked by a Tribune reporter if negotiations with the cable operator had any bearing on the lowered household assessments for next year.

"What I will say is we are looking to the future," he said.

The home association approved a $1.59 million operating and maintenance budget by a 3-0 vote on Oct. 21. The $129 monthly assessment for operation and maintenance per household will be based on 1,032 single-family and town house dwellings.

The association's current $3.1 million annual maintenance budget was based on the owners of 1,588 occupied and unoccupied properties paying $164 in monthly assessments.

Reporter Kenneth Knight can be reached at (813) 259-7413.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT