University Park Subdivision assessments cover the costs of maintenance and upkeep of streets, sidewalks, and common-grounds. The Indenture that binds University Park Subdivision allows for an annual assessment to be levied on all properties in the Subdivision. This annual assessment is necessary to cover the costs associated with the maintenance and upkeep of the streets, sidewalks, curbing, trees that border the streets, and common-grounds.
A regular assessment is levied annually by the Board of Trustees. The amount of the regular assessment is set by the Indenture at $.50 per front footage of the property. The Board of Trustees also has the option to charge a special assessment each year. The current special assessment is $5.50 per front foot.
The annual assessments are mailed directly to the property owners in January, and are due by March 31. As outlined in the Subdivision Indenture, interest on unpaid assessments is 8% annually. University Park Subdivision has the authority to place a first lien against the property for any unpaid assessments.
Notices are sent to delinquent lot owners and a re-billing fee is charged. A re-billing fee moratorium is now in place through July. Any delinquent accounts that are paid in full from now to July will have their re-billing fee waived.
Attorney fees will not be waived.
Assessment Payments may be mailed to:
University Park Subdivision
C/O DNI Properties-758
P.O. Box 105007
Atlanta, Georgia 30348-5007
314-576-0700 Ext. 407
Questions regarding assessments may be directed to Kim Bufe at DNI Properties, 314-576-0700, ext 407.