Memorandum
To Morgan Creek Harbor Association Members
From: Laurie Schueler, Morgan Creek Harbor Association Manager
Date: October 1, 2022 Re: MCHA 2022 Special Assessment
Enclosed you will find the Fourth Quarter statement for Morgan Creek Harbor Association (MCHA) for 2022. This includes the normal quarterly Regime Fee and the Special Assessment Fee for those that chose to pay overtime. Your regime and Special Assessment fees reflected on your Q4 statement are due December 31, 2022.
PAYMENT BREAKDOWN:
The Special Assessment Fee is based on 1, 2 or 3 shares, depending on your property’s type (see breakdown below).
Beginning October 2022, the Special Assessment will reflect as “Interest Only” on your statement for the first six (6) quarters for $200 per share, per quarter. The loan will be re-amortized upon completion of Q6 in April 2024.
From April 2024 onward, the billing will reflect both “Principal and Interest” (P&I). It is estimated that the principal and interest amount will be approximately $480 per share,per quarter. The final cost per share per quarter will be provided to the membership in April 2024. Please note that the 7-year loan has a fixed interest rate of 3.55%, and will be re-amortized in April 2024, then annually going forward.
PAYMENTS: Check: Please make checks payable to “Morgan Creek Harbor Association” and include in memo account number for each associated property. Auto Draft: If you are on the ACH Auto Draft program with our office, we require written permission to draft your Special Assessment Fees. Please email Christine Ciocco at christine@charlestonpms.com. We will not draft your account without express authorization! *Please Note: If you have payments set up through your bank, you will need to notify them of the additional assessment fees. MCHA QUARTERLY SHARE BREAKDOWN BY PROPERTY TYPE:
1 Share Properties o Lot(1 Share) Regime Fee: $229.90 ($919.60 Annually). Special Assessment Fee: $200. o Condominium (1 Share): Regime Fee: $229.90 ($919.60 Annually). Special Assessment Fee: $200. o Marina Docks, WDYH Docks A-E and YC @ MC Docks F&G (1 Share per Slip): Regime Fee: $229.90 per slip, billed in total directly to membership management. Special Assessment Fee: $200 billed directly to slip owner. 2 Share Properties o Lot w/Bulkhead or Dock (2 Shares): Regime Fee: $459.80 (Annually, $1,839.20). Special Assessment Fee: $400 o House& Lot w/No Dock or Bulkhead (2 Shares): Regime Fee: $459.80 (Annually $1,839.20). Special Assessment Fee: $400 3 Share Properties o House & Lot w/Dock or Bulkhead (3 Shares): Regime Fee: $689.70 (Annually $2,758.80). Special Assessment Fee: $600 MORGAN CREEK HARBOR ASSOCIATION IS COMPRISED OF THE FOLLOWING: » Morgan’s Cove Homeowners Association » Waterway Island Drive » The Mooring Horizontal Property Regime » Morgan Place HOA » Yacht Harbor Villas » Yacht Harbor Court » The Yacht Club @ Morgan’s Cove (F&G Docks) » Wild Dunes Yacht Harbor Horizontal Property Regime (A-E Dock)
WEB LINK FOR MARINE WALL PROJECT UPDATES:
Along with normal mail & email correspondence, another way for you to stay updated is through the website, www.charlestonpms.com:
1) Near the top of the page, click the “Properties” tab
2) Scroll down until you find “Morgan Creek Harbor Association”
3) Click the first link titled “Morgan Creek Marine Wall Construction Project”
This will take you to the Morgan Creek Wall Project Community Resource page. Here
you will find all past, present, and future updates that can be accessed at your
convenience.
4) You can get to the new community resource page by typing
https://charlestonpms.wixsite.com/morgan directly into your web browser.
Please feel free to contact me should you have any questions regarding these matters.
Laurie Schueler, MCHA HOA Manager, Property Management Services
Office: (843) 881-5459, Facsimile: (843) 881-5616
E-MAIL: laurie@charlestonpms.com
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