KEI Financial Commitment Package

$15,000 from KEI to KPOA when the Declaration Change is Approved [2019]

$15,000 from KEI to KPOA when the first road segment is accepted by RMC [estimate 2022]
Thereafter each year, KEI to pay to KPOA 15 times the current lot assessment

Example: If the current assessment is $930
15 times $930 = $13,950 due January 15, 2023
As lots are sold, the amount due each year from KEI is reduced.
Example, if 5 lots sold, in 2023, then 10 times $930 = $9,300 due January 15, 2024

KEI to pay the entire cost of the New Mt. Olivet Gate:  $25,000 (estimate)
Gate with Bar Code Reader, up to 2 cameras, generator; 1-year warranty
As well as the temporary secure entrance at Chatsworth Court

KEI pay the entire cost of the Annexation Vote: $5,000 (estimate)

The terms of this financial commitment package and other items relating to the annexation will be put in a legal Agreement to be signed by KEI and KPOA. This Agreement will bind any and all ‘successors and assigns’ — anyone to to whom KEI may sell the lots. This agreement will be filed with the Henderson County Register of Deeds.


So, how much will this annexation vote COST YOU — an existing KPOA property owner? ZERO.

Taking into account KEI’s Financial Commitment Package which provides a stream of income as well as $30,000 for a Reserve Account for any unanticipated expenditures, Doug Moe, KPOA Treasurer, submitted this Assessment Impact Analysis.

The largest part of the budget is for Road Maintenance and the Road Reserve. Andy Clapper, RMC Chair, has submitted this analysis of 15-year Projected Costs.