Attention ArrowCreek Homeowners: Somersett Golf Course Financials

As some ArrowCreek residents are already aware, the owners in the Northwestern Reno Development of Somersett have been going through some similar activities to those of ArrowCreek. Today’s Somersett United blog discusses a further presentation of the 5 year plan for their amenities and the woes of their golf course financials.

“In response to a homeowner comment on the Canyon Nine Pipeline post inquiring, “Any thoughts of raising fees for course usage to cover the cost of course maintenance”, the following data derived from the SOA 2015 Budget is offered.

  • Annual operating expenses for Canyon Nine – $324K
  • Annual revenue realized from Canyon Nine – $41K
  • Monthly unit assessment to support Canyon Nine – $10

Given the above it is obvious that raising usage fees to cover a $283K deficit is not practical.  As with all Association amenities Canyon Nine is not self supporting and therefore reliant on homeowner assessments.”

The whole Somersett United message is here.

Looks like a special assessment may be in the near future for Somersett homeowners.

PAY ATTENTION, ARROWCREEK HOMEOWNERS!!

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This entry was posted in ArrowCreek411, Golf, Golf Developments, Somersett and tagged , , , , , , , , . Bookmark the permalink.

One Response to Attention ArrowCreek Homeowners: Somersett Golf Course Financials

  1. Pingback: Reblog: ArrowCreek Golf Course – Crunch Time | ArrowCreek 411

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