Special Road Assessment: $400, due August 30, 2023.
Approved at the Board's April 2023 meeting.
Purpose: to fund future extensive roadway repaving.
The Vernon Woods Owners Association Annual Assessment authorized under the by-laws and implementing resolution is $500, typically due May 31st of each year. Notices of annual assessments are sent to residents each year. Under the VWOA's bylaws, all assessments are to be paid by the date stated in the notice, or within thirty (30) days of the mailing of notice thereof, whichever is later.
A reduced assessment is provided under some circumstances, as set out in the following resolution effective September 1, 2021.
Vernon Woods Owners Association
Assessment Resolution
July 30, 2020
Revised September 24, 2020
Effective September 1, 2021
Whereas, the Vernon Woods Owners Association (“VWOA”) was chartered by the state of Illinois as a general not for profit corporation on October 28, 1955;
Whereas, the By-Laws of the VWOA provide that it is the purpose of the VWOA to foster cooperation and community pride among the owners of lots within the subdivision now known as Vernon Woods, to beautify the subdivision, and to promote the health and safety of all persons living in the subdivision;
Whereas, properly maintained roads are essential to the health and safety of owners of lots within the Vernon Woods subdivision, and contribute to the beauty of the subdivision;
Whereas, the roads within the Vernon Woods subdivision are owned by owners of lots within the Vernon Woods subdivision, are maintained by the VWOA, and are not maintained by the Village of Riverwoods or any other public authority;
Whereas, the VWOA does not receive funding from the Village of Riverwoods, and does not receive fees, assessments or bonds required by the Village of Riverwoods for construction activity;
Whereas, the VWOA is required by its By-Laws to fix and make assessments for, among other things, improvement and maintenance of the roads;
Whereas, the VWOA has endeavored to minimize annual assessments; and
Whereas, the VWOA has determined that under an equitable apportionment of assessments, certain properties with limited access to subdivision roads, or with a reduced likelihood of activity on those roads, should bear a reduced assessment.
NOW THEREFORE, it is
RESOLVED, that
A. Unimproved lots within the subdivision shall bear an assessment of one-half that of improved lots, except as provided in Sections B and C below.
B. Lots with no vehicular access on a subdivision road shall bear an assessment of $40.
C. Lots on which no portion of a habitable residence exists, and on which no habitable residence or any portion thereof may be constructed in compliance with County and Village ordinance, shall bear an assessment of $40.
D. Except as noted above, all buildable lots as determined by Village or County ordinance adjacent to a private road, whether or not also adjacent to Deerfield Road or Portwine Road, shall pay 100% of the annual assessment.
The foregoing was enacted by motion, seconded and approved unanimously by all directors of the VWOA in attendance at a duly authorized and scheduled meeting of the directors of the VWOA, under the authority of Article VII, Section 1 of the By-Laws of the VWOA.
Confirmed:
_________________________
Secretary, VWOA
September 1, 2021