ONO ISLAND HOA ADMISSION FEE

The Ono Island Property Owners Association’s (“POA”) Board of Directors (“BoD”) continues to focus on how to best care for and serve the interests of their community’s residents. As evidenced by their approval of an Admission Fee at their August 2023 board meeting, the BoD is charged with and committed to finding solutions that are both equitable and beneficial to the community. The approved Admission Fee of $8,000.00 is a one-time charge on any “arms length” sale or transfer of a property on or after January 1, 2024, due at the time of closing/ delivery of deed. The established transfer fee ($500.00) has been eliminated and will no longer be charged after January 1, 2024.

With the intent to help preserve the unique character of the island, the POA BoD has determined that this Admission Fee is necessary to ensure that new property owners are invested financially and emotionally into the success of the Ono Island community. By encouraging all property owners to bear a small portion of the cost of infrastructure investments, the BoD hopes to incentivize current residents to reinvest in the local economy, and attract new residents who are similarly committed to fostering a collaborative and prosperous environment.

VIEW ONO ISLAND RESOURCES

The Amon Team recognizes and embraces the heightened role of responsibility now assumed by the BoD to look out for the collective interests of the community. They are happy to join the BoD in taking an active role in the success of the island, and are proud to serve as a trusted resource for those buying or selling property on Ono Island. Their team of experienced real estate professionals provides the expertise, dedication, and commitment to help buyers and sellers facilitate transactions with confidence, and to ensure that the community of Ono Island remains vibrant and prosperous for generations to come.

After months of due diligence and careful consideration, the members of the Board of Directors (BoD) just reached a unanimous decision to implement an Admission Fee of $8,000.00. This fee, set to take effect on January 1, 2024, would replace the existing Transfer Fee and help to offset some of the POA’s operating costs.

In making this decision, the BoD had to consider a number of factors such as long-term financial stability, the safety and wellbeing of the community, and the needs of current and potential residents. Ultimately, they decided that the Admission Fee to be used to offset administrative operating expenses would help to offset some of the financial burden and help the POA to focus current Annual Assessments on the important maintenance needs of the community.

For potential buyers on Ono Island, this new Admission Fee can be cause for comfort. The Amon Team is here to help. With years of experience in real estate transactions, the Amon Team can guide buyers through the process and provide all the necessary information they need to make an informed decision.

The Admission Fee, while a necessary part of the POA’s long-term financial plan, is the BoD’s decision and a step in the right direction and one that will help to ensure a successful future for Ono Island and residents.

ONO ISLAND SINGLE FAMILY HOME CHECKLIST

google-site-verification: google75563763e74b9325.html

Tags

• ono island (75)
• Transfer Fee (1)
• Admission Fee (1)