SPECIAL ASSESSMENT VOTE PASSED: 86 YES to 4 NO

THANK YOU TO ALL WHO VOTED!

OVERVIEW / TIMELINE / COST / FUNDING

Two decades have passed since Petrini Place was built. As our property enters the next decade, we are now needing to make significant repairs in our property’s exterior and weatherproof envelope (namely stucco painting, sealing, gutters, downspouts and metalwork). We are also required to respond to California law SB-326 (state mandated HOA/Condo deck and balcony inspections) and comply by January 1, 2025.

As each of these projects requires scaffolding, Petrini has an opportunity to save significant costs by erecting and using one set of scaffolding to serve all projects simultaneously. With proposed cost savings and time deadlines, the Board and Bay West believe it is best to initiate all of these projects in the spring of 2023.

Funding for these projects is derived from the Petrini Place HOA Reserve Fund and the Joint Maintenance Reserve Fund. Each project receives a specific percentage allocation from each fund.

The Joint Maintenance Reserve Fund (contributions from both Petrini Place HOA and Savemart, the parent company of Lucky) is well funded and is able to contribute its portion to this project.

The Petrini Place HOA Reserve Fund however, is not sufficiently funded to pay for our portion of the project. We must pursue various funding options including increased monthly HOA assessments and/or special assessments.

The HOA Board and Property Management’s goal open communication on all details of this project to the HOA Membership so that everyone can make informed decisions.

These projects and potential funding options are described in the documents & link below (each will open in new browser tab):

For Questions or Comments, please fill in form and click SUBMIT:

All feedback will be forwarded to the HOA Board and Bay West Property Management for review.

THIS PAGE WAS LAST UPDATED ON 01.20.2023