Welcome to The
Official Site of
Boca West
Master Association
Assessments
While the Board of Directors is empowered to levy a Special Assessment for maintenance projects and or capital improvements (for capital improvements, the consent of the “Members” is also required), this action has only been taken once in the history of the Association. Following the destruction caused by two hurricanes in 2004, a $500,000 one-time Special Assessment was imposed for clean-up and restoration of the common grounds. Following the destruction caused by hurricane Wilma, in lieu of a Special Assessment, and with the consent of the “Members”, the Board opted to obtain a line-of-credit to pay for restoration of the common grounds and a capital improvement project covering the main, Glades Road, entrance to the community.
The fiscal year runs from October 1st through September 30th of the following year. Normal operating expenses are covered by an annual assessment that is established by the Finance Committee, endorsed by the Treasurer, and adopted by the Board. Residents pay one-twelfth of the amount due each month. This sum is included in the regular assessment levied by each Village Board of Directors. The monthly amount due BWMA is forwarded to the Association by the managing agents for each Village. In accord with the governing documents, the total BWMA assessment is levied in accord with the value of each house/unit as determined by the Palm Beach County Tax Assessor. Therefore, depending on the value of one’s home, each resident may pay a different amount, through their Village Association, to the Master Association. Assessments not paid can become a lien on real property, with foreclosure proceedings that will follow in accord with a policy adopted by the Board.
The cost to staff the “internal” gatehouses is borne entirely by the Village that contracts with BWMA for this service on an annual basis.
All accounting and financial responsibilities of BWMA are supervised by Marilyn Pamer, Director of Business, who has served Boca West since 1983.
