That Fifth Amendment creates an additional annual assessment per residential property ($600 for an improved lot/$360 for an unimproved lot), and additional assessments on the Resort and our commercial property owners, all of which will raise approximately $35,000,000 over the next ten years to fund critical infrastructure repair and reconstruction within the community.
While the lawsuit was still pending, CSA decided it was in the best interests of the property owners to not collect the 2022 Critical Infrastructure assessment. However, in light of the Court’s ruling, CSA will immediately invoice all commercial and residential property owners as well as the Resort. Property owners of record as of the date of billing will be responsible for payment. Property owners will be given forty-five (45) days to remit the 2022 Critical Infrastructure assessment payment. At this time, we expect that due date to be mid-December 2022.
In January 2023, the 2023 Critical Infrastructure Assessment will be added to the 2023 Sea Pines CSA Annual Assessment, the combined total of which is subject to the annual increase in the Consumer Price Index (“CPI”). Under normal conditions, the annual assessments are mailed out in mid-December and are due in mid-January. However, the Board of Directors approved to extend the due date until April 1, 2023, without penalty. With the information that we currently possess, we anticipate the 2023 Annual Assessment to be approximately $1,900.
For questions, please contact our Finance Department by email at firstname.lastname@example.org