On May 16, 2011, a two-thirds majority of the RIIA members present and in good-standing
voted to increase Bridge Dues adding $785 per year per lot effective July 2011. This
amount is in addition to the existing Bridge Replacement (BRF) assessment. (Note: the
$785 does not increase 8.04% each year.)
The table below represents the adjusted annual rate through 2016 when both Bridge fees
(columns #2 and #3) expire. The expectation is that once the final cost of a bridge
replacement is confirmed, both Bridge fees will be combined and replaced with one
assessment that will run for the term of the Bridge Replacement loan. The BRIDGE PAGE
will be updated to reflect information as it becomes available. Until then, column #6
represents total dues per year, per lot.
The membership also approved moving forward with Phase I of the Bridge
Replacement Project. Phase I funds (not to exceed $150,000) will be used for
geo-technical work, parcel boundary and topographic surveys. (The cost of that work will come
from existing BRF funds.) In addition and for the remainder of 2011, the Bridge Committee
and Board will research lending options, loan rates, legal and tax considerations, engineering
consultants and project managers to refine the feasibility and cost of constructing a
new bridge. That information will be presented to the general membership prior to moving to
Phase II of the Bridge Replacement Project.
If the replacement project moves forward, the Board will consider revising our annual billing
statement to a quarterly or monthly billing cycle. If you have questions or input, please
contact the Island Manager or RIIA Board President.
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Note:
Column #2 -- the BRF was passed in 1996. It requires an automatic 8.04% increase each year.
Column #5 -- Island Management and Operations Dues are fixed unless an increase is passed by 2/3 ballot vote.
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