Bent Tree roads are not in good shape. But that’s not news. The news is that the Board of Directors is considering a plan to give the community a chance to change that without tapping into the pocketbooks of current residents.
The Board in August will consider a proposal that, if approved by the community, would provide a reliable extra source of funding, at no extra cost to current residents, for road improvements and paving. It’s called a Capital Contribution Fee, which is a $2,500 fee that would be paid by future home buyers (NOT sellers) with the revenues strictly limited to road improvements and paving.
A few years ago, Bent Tree brought in a consultant to evaluate our roads. He said paving should take place on every road at least once every 20 years. Historically, Bent Tree’s funding has been limited to a 40-year cycle.
Traditionally, Bent Tree has conducted a repaving program every other year. It was scheduled to take place last year but was postponed when the pandemic-fueled price increase doubled the cost of asphalt. Directors last year and this year have made paving a high priority, putting together a nearly $1 million effort, which includes funds that were not used last year. A repaving effort will take place this fall, covering about 5 miles of roads.
Here are the key elements of the measure the board is considering:
· The $2,500 fee would apply only to buyers of homes.
· The fee would be effective January 2024.
· The fee would NOT apply to the sale of unimproved lots; it would NOT apply to owners of unimproved lots who build on that lot; it would NOT apply to homeowners who buy another home in Bent Tree; it would NOT apply to homes that are inherited or otherwise passed on to a family member; and it would NOT apply to a lender or mortgage holder upon a foreclosure.
· Any increase in the $2,500 fee would be limited to the Atlanta Consumer Price Index each year.
The idea for a Capital Contribution Fee has been around for a while, but board members began seriously studying it this past summer when we learned that more than 200 communities and neighborhoods in our general area have some type of fee that new home buyers pay. Think of it as new residents paying forward for the rest of us.
The proposal will be on the agenda for the Aug. 15th work session. If approved for submission to the community, there will be ample opportunities to inform and answer questions from residents.
The plan will be discussed in detail, and questions answered, at 11 a.m. Aug. 5th at a town hall meeting in Club Tamarack, following the monthly Lake and Wildlife meeting. Proposed routine changes to our bylaws will also be discussed at that meeting.
-Glen Harris, President, Board of Directors