Turns out the Villas homeowners do have two options for paying the road conversion assessment. If you choose not to pay the lump sum as billed, the city will convert you to annual payments over 10 years that will accrue interest at the rate of 9% per year and will be due annually August 5th. It does seem strange that the city would not have mentioned this in your bill, but thanks to our Secretary for researching this. You may want to call in to the city to confirm.
The Board has been notified of the lump sum Oklahoma City bill received by Villas homeowners for the road conversion completed in 2018. As documented in the numerous posts on the road conversion project, through multiple conversations with the city we were led to believe that the assessment would be spread out over several years (we were told "most likely 10 years"). It appears that the City Council met last week and decided at that time to charge the assessment in a single bill. We have contacted the HOA attorney to see what our options are for addressing this problem. We'll keep you posted through the blog unless the information is sensitive or input from neighbors is needed.
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