November 2017, Edition 1 - page 1

November 2017 Edition 1
Sheriff Judd
Parade Entry Form
School News
Board Brief
2018 Budget
What future community projects are in the works?
Amenities Development Projects, both “Private” and through “Public/Private
Partnerships” include:
Lakefront Community Marina And Park (Lake Marion Access)
Community Amphitheater (Under Construction)
Tennis Courts/Volleyball Courts
More Picnic Tables and Pavilions
Athletic Fields (Baseball, Soccer and Other Interests)
More Aquatics (Splash Pads)
Skateboard Park
APV owns 26 total undeveloped acres of land.
What is the status of the Vance Harmon Park Project?
After more than four years of planning and construction, the Mary Jane
Arrington Gym and Aquatic Center at Vance Harmon Park is now open
to the public. The project included a budget of more than $8 million with
approximately $650,000 in community block grant funding. APV will also
contribute $3.2 million back to Osceola County. As part of the partnership,
APV will own as well as manage the operations of the facility, saving the
county about $700,000 each year. Phase two of the project, which is expected
to be completed by the end of this year, will include renovations to the football
and softball fields, two new outdoor basketball courts, two playgrounds, a dog
park and an amphitheater.
he purpose of this report is to address questions about items
in the 2018 Association Budget. For six years in a row, our
community’s annual membership fee remained unchanged at
$252 per lot. This fee remained steady despite enhancements
made to owner services, the development of new amenities
and facilities, added social and recreational programs and
improvements to APV common areas and maintenance
Why is the budget changing this year?
For the first time in six years, 2018 will require a minor
increase of $24 (10%) for a new annual assessment payment of $276 per lot,
or a monthly payment plan option of $23. The increase is primarily driven by
costs associated with APV’s ongoing legal defense.
Why is there a significant increase in expenses for legal fees
year to date?
The legal actions taken against APV have had a significant impact on the
budget for 2018. Due to costly lawsuits, complaints, arbitration and other
actions, next year’s legal costs are estimated to exceed our current budget.
As a result of uncertainties surrounding pending matters and the potential of
threatening litigation APV has endured since 2015, the Association can no
longer use an optimistic approach in budgeting legal expenses. The 2017
“Legal” line item of $250,000 must be increased to $500,000 for the 2018
budget year. The current year is expected to exceed $500,000.
What is the status of the Association’s debt collection efforts?
APV’s enormous success over the last four years in collecting millions of dollars
of unpaid assessments is reaching a glorious end. The pool of substantial “Bad
Debt Recovery” funds is shrinking. The 2017 Budget included Bad Debt of
$198,644 in the positive due to the anticipated recovery of prior bad debt.
In 2018, we anticipate a bad debt projection of $101,285 in the negative, a
variance of $299,929.
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