Fees and Assessments for Fiscal Year 2018 (April 1, 2017 – March 31, 2018)
The one-time Membership Fee (paid at closing) augments the capital reserve fund for capital replacement and new capital needs. The capital assets of the association include beaches, roads, community buildings, tennis courts, etc., which have been paid for and maintained by ECA Members since the community was founded in 1971.
The fee is $5,000 for a house/condo purchase. The fee is $1,000 for a vacant lot purchase, with $4,000 due when building commences.
The annual assessment has two components: operating and capital. It is a flat rate, not based on property value. The only distinction is whether the property is developed (house or condo) or undeveloped (vacant lot). This can be paid annually or semi-annually without incurring interest; monthly payments incur a 9% annual interest rate.
The operating portion covers road maintenance, common property maintenance, utilities, employee salaries, and other day-to-day costs associated with running the community.
The capital portion goes into the capital reserve account to replace, repair, obtain or build capital assets.
Owners of homes/condos this fiscal year (April 1, 2017 through March 31, 2018) pay $3,170; unimproved lot owners pay $2,673. The amount the annual assessment fluctuates each year is governed by the Declaration of Covenants & Restrictions. (The Board approves the budget and assessment each February.)
The assessment paid by home/condo owners includes the Universal Amenity Program, which allows owners (up to two adults) and their children/grandchildren (age 22 and younger) to use the pool, fitness center (ages 15 and older only), cross country ski trails, golf driving range, and tennis and pickleball courts at no additional cost. Lot owners may opt in by paying an additional $213/property. There is also a “friends and family” component that allows owners to acquire passes for visiting friends and/or family.
In 2015, Eastman approved a three-year special assessment of $250/year to renovate and expand The Center at Eastman. The first payment of the special assessment was due April 1, 2016; the final payment will be due April 1, 2018.
Condos are also subject to condo association fees to pay for exterior maintenance, plowing and other services. These 9 associations are not directly affiliated with Eastman Community Association; each has its own governance and fee structure. Visit www.belleterreus.com for more information on specific associations. (West Cove C handles its own association. Contact ECA [603-863-4240] for current contact.)
Village District of Eastman (VDE) Water/Sewer: www.eastmanh2o.org
Water: All Eastman properties are connected to or have access to connect to public water. There is a water usage charge per 100 gallons consumed for water customers and a water precinct tax for all Eastman properties.
Sewer: One-third of the homes in Eastman (including all condos) are connected to the sewer system; the others have private septic systems. There is a flat user fee for sewer customers and a usage charge per 100 gallons consumed for all properties connected to the sewer service.