Recreation Centers of Sun City West General Manager Bill Schwind expanded on the need for changes in the asset preservation fee, set for a final vote in the RCSCW board’s next meeting.
He said the fee is collected from all new property owners and go to the capital improvement costs for the association.
“When we are getting new individuals in, often times they have new demands and this has a new impact on our community,” he explained. “In this organization, when a home is sold or resold, capital money is derived and used for new demographical needs and those types of things.”
Mr. Schwind said revenue generated last year was just under $4 million, with a $350,000 approximate increase.
Additionally, Mr. Schwind shared this fiscal year’s refunds are at nearly 10 percent. He said this was to residents selling their homes and repurchasing back in Sun City West.
“That’s a positive thing and our facilities are pretty special and people are opting to stay put,” Mr. Schwind said.
He added the simplest way to understand the fee is all new owners pay. He said they chose to deal with refunds as opposed to not having someone pay. He said basically it has to do with home flippers and people coming in and turning houses.
“On the investment side we are dealing with people who have tenant cards issued for more than three months during the past 12 months,” he said. “Legal owners and beneficiaries that are identical on deeds then they are exempt.”