Reserve Study – Community Enhancement Fee

Your Lake Ridge community needs your support to continue to maintain the common assets such as the club house, medians and parks.

Below is the meeting notification and ballot for the proposed $65 community enhancement fee.

Based upon the Reserve Fund study completed by Reserve Advisors on July 18, 2023, the current funding of our Reserve Fund is insufficient to cover the anticipated cost of maintaining the capital investments of our Lake Ridge Community. 

To mitigate the significant risk of a high future Enhancement Fee to compensate for the deficiency, the Board recommends, a Community Enhancement Fee of $65.00 per year for six years, starting in 2024 until 2029. 

The board will complete another Reserve Fund study in the fall of 2028 to determine whether the community enhancement fee has been excessive, sufficient, or insufficient before proposing to renew or reform it during the 2029 annual members meeting.  If approved by the Members, the Community Enhancement Fee will be due on the 1st day of January of each year starting in 2024 until January 2029.

If you have questions, email POAOFLR@CIRAMAIL.COM or call 972-299-5270.

Meeting notice and ballot :

Materials for Oct 17 2023 Members Meeting :

The Reserve Study Completed in July 2023 :

The Reserve Study Completed in April 2019 :

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