The Board of Directors of the University Woods Homeowners Association is recommending two changes to the Covenants and Restrictions document. This document has not been modified since the Association was created.
 
Change 1:
The wording of Section 15(c) is open to interpretation and needs to be clarified. Because of the current wording, some unit owner's insurance companies are asking the HOA's insurance company to pay for losses that occur INSIDE of a unit. Since the HOA policy has a $10,000 deductible, the Association is responsible for paying $10,000 out of Association funds (your dues) for such claims. It is likely the monthly HOA dues will need to be increased if we continue to incur these unexpected claims. The HOA policy is designed to cover buildings in the complex, not the inside of individual units. The wording in Section 15(c) needs to be changed to cover this loop hole.
 
Change 2:
The change in Section 21 is to change the number of votes needed to amend the declarations. The current number (75%) of unit owners is virtually impossible to achieve. The recommendation is to change this number to 51%, which will still be hard to achieve. The two changes were thoroughly discussed in the latest electronic newsletter sent to members, and in a letter mailed to members. Click here to access the Covenants and Restrictions documents
 
The Board of Directors recommends a Yes vote on both of these items. Please submit the following voting ballot: