Quote:
Posted By KerryL1 on 08/29/2024 8:50 AM
The term "capital improvement" in our CC&Rs only refers to new components. Replacing exiting reserve study components isn't considered a capital improvement.
I was thinking about a significant upgrade in materials, function, etc.
For example, the community has crummy old style metal mailboxes that anybody can walk past, open, and remove mail from. The board wants to upgrade to attractive and sturdy locking boxes that require new posts to support them. Or maybe the board proposes "apartment style" mailboxes that are less costly but are still secure.
I would consider these to be capital improvements since they're an upgrade in function (security), not a replacement. And they would need a homeowner vote.