A one-time Initiation Fee of $400.00 is charged to all new homeowners. Please have your attorney contact the office prior to any real estate closings for current dues and assessments information.
Dues & Assessment bills are mailed four times a year. Residence and property dues are payable on the fifteenth of February, April, June and August. A $25.00 late fee is charged if payment is not received within fifteen days of the due date.
At the age of sixty-two, Senior Citizens are entitled to a 10% discount on their Dues & Assessment bills. Proof of age must be provided to the office.
There is a $50.00 fee charged for all returned checks.
Any member who’s account is sent to an attorney or collection agency for non-payment will be required to pay reasonable attorney’s fees and court costs in addition to the outstanding balance.
Any member who is experiencing a temporary financial hardship can apply to the Trustees for a special payment option. The Trustees will work with the member to avoid late fees, not to reduce the Dues & Assessments owed.
The LCPOA publishes a Quarterly Newsletter which is mailed four times per year and contains the Agenda for any scheduled meeting.
The Budget for the upcoming year is published in the Fourth Quarter Newsletter and is then voted on at the Fourth Quarter General Meeting.
In 2000, LCPOA was ordered by the New Jersey Department of Environmental Protection (NJDEP) to make certain improvements to two (2) dams. The rehabilitation of an unsafe dam is a matter of public policy in the State of New Jersey. As the owner of these dams, LCPOA was obligated under the law to bring its dams in compliance with current standards. In 2004, the General Membership of LCPOA voted to borrow money from the State of NJ to fund these two projects.
In January 2007, the General Membership voted again to approve a resolution to sign the necessary loan documents with Vernon Twp and the State of NJ. In April 2009, the General Membership reaffirmed both loans. The cost of all dam improvement work is being largely funded through these NJDEP Dam Safety loans, and under the terms of our loans, all members will be assessed separately for each Dam rehabilitation project by Vernon Township.
LCPOA members have already been assessed by Vernon Township for the Rehabilitation of Barry Lakes Dam No 1 (South or beach lake) project. There will be a separate, second assessment for the Rehabilitation of Barry Lakes (North) Dam No. 2. These assessments are not included in your membership dues.
The authority for the direct assessment for repayment of dam rehabilitation loans to the NJDEP comes from the Safe Dam Act and the accompanying administrative code sections. N.J.S.A. 58:4-1 et seq. and N.J.A.C. 7:20-1.2 provide the framework for both the enforcement of the safety and regulations, as well as the loan program available for dam rehabilitation. N.J.S.A. 58:4-12 provides that loans require the local government unit to act as co-applicant and that the cost of the payment of the principal and interest of the loans shall be assessed against the real estate benefited.
The Rehabilitation of Barry Lakes Dam No. 2 is nearly complete. LCPOA members will be assessed separately by Vernon Township for the amounts borrowed from the NJDEP for this project. Upon final completion and closing of our loan by the NJDEP, members will receive an invoice from Vernon Township for this assessment, separate from the previous assessment for Rehabilitation of Barry Lakes Dam No 1 (South or beach lake) project.
All properties will be assessed for the full cost of the loan, including interest and administrative costs. Property owners will have the option to pay the assessment in one lump sum or by annual installment payments over the course of the term of the loan. . Vernon Township will handle any delinquencies.
According to N.J.S.A. 58:4-12, dam loan repayment must be assessed in the same manner as the assessment for local improvements. In accordance with N.J.S.A. 40:56-19, a municipality is required to give notice of the assessment and allow the affected property owners the benefit of a public hearing.
The statute provides that the assessment is a lien against the property and enforced in the same manner as an assessment for benefits. Pursuant to N.J.S.A. 40:56-41.3, most purchasers will require that the lien be paid in full prior to transfer of the property; however, this is negotiable between the parties.
Again, be advised these special assessments are not included in your membership dues. The LCPOA board has the authority to impose these special assessments to cover the one-time expense of any major repair or improvements.
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