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Northpark
Welcome
 
 

Our community website was developed to serve as an informative resource for both our neighborhood and our local community. Please feel free to contact us with your comments and suggestions.

~ News ~
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~ Townhouse News ~

                  Townhouse Members!

Subject: Area Renovations
                                      
Townhouse Members:
 
Your help is needed.
 
The Board is working to make a list of the many needed repairs to the Townhouse properties, establish a priority list and then a plan to get the repairs completed.
 
You can help! Simply take a picture of any exterior area that needs repairs and email it to info@northparkhoaclarksville.com. In the email please provide the address of the unit where the picture was taken. Landscaping pictures are not needed, this is already on the list. We are looking for damages to the building such as damaged siding, etc...
 
Thank you, The Northpark Townhouse Association.
 
**********************
 
Subject: Adjustment to Townhouse Property Insurance Premiums
 ***** Update 21 March 2018 *****
 
Townhouse Members:
 
In response to complaints by both members of the HOA and the Board, the Montgomery County Assessors Office has re-assessed and corrected the square footage of all units in the Townhouse Area.
 
The complaint was that incorrect square footage for each townhouse property was being reported on the tax assessors property report for the townhouse properties.
 
In September 2017, the Assessors office reassessed and corrected the square footage for each townhouse property.
 
The property values were not affected by this correction. However, the portion of the insurance premiums that each townhouse owner is responsible for has been affected. We could not calculate how this change would affect each member until we received notification from the Insurance provider as to how this change would affect the Premium amount.
 
We have been notified by the Insurance provider that the change in Square footage will not affect the Policy Premium amount. However, because the square footage of each unit changed, the total premium amount that is the responsibility of each member wil be adjusted accordingly to match the new reported square footage.
 
At the beginning of each policy term, the HOA pays the Insurance premium in full and then passes the cost onto each townhouse owner and is reimbursed in accordance with the Declarations. The total insurance premium that each member is responsible for is calculated and broken down into monthly installments and assessed on your monthly statements.
 
The total insurance premium that each owner is responsible for is based on the total finished and unfinished square footage reported on the property tax records.
 
For the Policy period of March 2017 thru February 2018:
 
     If your total square footage was previously being reported at 781 Sqft, your sqft has been adjusted to 1132 Sqft. Your total insurance premium for this period has increased from $256.71 to $379.10. This is an increase of $122.40. Beginning with your March 2018 statement you will be assessed an additional $10.20. This will be in addition to Insurance premium for the current policy term.
 
    If your total square footage was previously being reported at 895 Sqft, your sqft has been adjusted to 914 Sqft. Your total insurance premium for this period has increased from $294.18 to $306.10. This is an increase of $11.92. On your March 2018 statement you will be assessed a onetime additional charge of $11.92. This will be in addition to Insurance premium for the current policy term.
 
     If your total square footage was previously being reported at 1180 Sqft and you are not the owner of either 102 Carriage Place or 104 Carriage Place, your sqft has been adjusted to 1132 Sqft. Your total insurance premium for this period has decreased from $387.85 to $379.10. This is a decrease of $8.75. On your March Statement 2018 statement you will see a one-time credit of $8.75.
 
     If your total square footage was previously being reported at 1180 Sqft and you are the owner of either 102 Carriage Place or 104 Carriage Place, your sqft has been adjusted to 914 Sqft. Your total insurance premium for this period has decreased from $387.85 to $306.10. This is an decrease of $81.76. On your March Statement 2018 statement you will see a one-time credit of $81.76.
 
     If you purchased your townhouse property after February 2017, your credit or charged will be prorated the number of months that you were billed. Simply take the increase or decrease for your property, divide that amount by 12, then multiply that number by the number of months you owned the property. On your March 2018 statement you will see a one-time credit or charge for this calculated amount. 
 
The insurance policy has renewed. There will be a separate memorandum regarding the insurance premium for the next Policy term.
 
Thank you.
 
The Northpark Townhouse Association
 
****************************
 
Subject: Insurance premium for March 2018 through February 2019.
 
 
Townhouse Members,
 
Its that time again! The Insurance Policy for the Northpark Townhouse Association has renewed. A copy of the policy will be uploaded to the documents page of the website.
 
Below is information regarding the premiums. For the Policy period of March 2018 thru February 2019, your monthly Premium charge will be adjusted to the amount indicated below.
 
Policy Number: 48-330-952-00
Insurance provider: Auto-Owners Insurance
 
Total Sqft: 46538 of finished and unfinished area
 
Total Premium Amount:             $17,575.62
 
Total Board Responsibility:         $1,883.24
 
Total Members Responsibility:     $15,693.38
Total Members cost per Sq Ft.:    $0.3372
 
                   Annual         Monthly
 Unit size      Premium      Premium Charge
 914 sqft      $308.22        $25.68
 1132 sqft    $381.73        $31.81
 
If you should have any questions, please visit the contact us page.
 
Thank you.
 
The Northpark Townhouse Association
 
 
 
 
 
  
 
 

 

 
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