All news

Capitalization Fee Information

Published: November 07, 2022

MCM Capitalization Fee Frequently Asked Questions

• How much is the Capitalization Fee?
  The proposed capitalization fee is $500.
• Does the capitalization fee apply to current homeowners?
  No, the capitalization fee only applies to the new buyer of a home sale.
• Is the capitalization fee a part of the purchase price?
  The capitalization fee may be combined in the home loan as a part of the closing cost for the buyer.
• Have other communities used a capitalization fee?
  Yes, many other communities around our area have started applying this fee to the sale of their homes and their HOA Communities.
• What will the new capitalization fee cover?
  The income from the fee will provide income needed for future improvements and reduce the need for future dues increases.
• Will the community be required to vote on the capitalization fee?
  Yes, a 67% quorum of the homeowners is required to approve the capitalization fee.
• Are proxy forms available to meet quorum?
  Yes, a proxy form can be filled out by accessing the MCM website www.marinecreekmeadows.com.
• Is a meeting scheduled to discuss in further detail?
  The Special Meeting is scheduled December 13, 2022, at the Fort Worth Public Library—Northwest at 6:00 PM also available to join by zoom. Details in the link below.
• I am unable to make the meeting, what are the other options for questions?
  Please email questions to BoardOfDirectors@marinecreekmeadows.com and someone will respond to the questions.
• Can I vote more than once?
  Homeowners are allowed one vote per household.
• Can I change my vote once I have voted?
  Yes, the homeowner can change their vote until the end of the election.
• When is the deadline to vote?
  Our first attempt to meet the 67% quorum is during our meeting on December 13th. If the quorum is not met at that time then another meeting will be scheduled in early 2023 for a second attempt to reach the quorum.

https://www.marinecreekmeadows.com/events/events_scheduled/22-10-29/Special_Meeting.aspx

Click here to download and read the MCM Cap Fee FAQ

Click here to download and read the MCM Capitalization Fee Additional Information

Marine Creek Meadows HOA