The Boulder Ridge Homeowners' Association (HOA), an Illinois Not-For-Profit Corporation, was incorporated by the subdivision developer, GAM Properties LLC, in 2004. Our covenants were written by the subdivision developer and his attorney in the very early stages of the development of Boulder Ridge without the input of homeowners. Control of the HOA was transferred to the homeowners in March 2009. HOA expenses to that point were paid out-of-pocket by the subdivision developer, despite the fact that he could have assessed dues to cover those expenses. The homeowner-controlled HOA began assessing dues in 2009.
A letter was sent to all homeowners in March 2009 announcing a special meeting to transfer control of the HOA to the homeowners and elect a Board of Directors. The meeting was held on April 23, 2009 at Parkland College and was attended by a quorum of Boulder Ridge homeowners, as required by the HOA by-laws. On August 12, 2009, a letter was mailed to all Boulder Ridge homeowners announcing the transfer of control of the HOA to the homeowners, the purpose of the HOA and the newly elected Board of Directors.
Membership in the HOA is not optional and you are legally required to pay the annual assessment. Payment is due in full within 30 days of receipt of the invoice. Invoices are mailed in August with a due date of October 1. Please pay your assessment on time. Past due accounts significantly increase HOA expenses, which may necessitate an increase in the annual assessment the following year. Furthermore, members who have not paid their assessment by the due date will have their voting rights suspended until their account is in good standing. Delinquent accounts are subject to late fees and interest charges. Ultimately, a lien may be placed on your property for the amount of the assessment plus applicable late fees, interest charges, administrative fees and reasonable attorney fees. This is not something the Board wishes to do and is a measure of last resort in order to collect payment. Your cooperation is greatly appreciated.