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Garden Fee and Storage Facilities

posted Jan 23, 2012, 8:53 PM by jon siragusa
Dear Shareholders:

Apart from the two major initiatives that the board is working on this year (the long-
delayed reconstruction of the parapet walls and lintels, and refinancing of our building’s
mortgage), we have also been busy on a number of smaller projects, including a new way
to finance supplies for our common garden and an expansion of our storage facilities.

For our garden area, the board has instituted a $10 per year annual garden fee, which will
appear on your March maintenance bill. By doing this, we are ensuring that our treasured
interior garden has a permanent source of funding to buy plants, flowers and tools. We
also doing this so that the shareholders who volunteer many hours of their time each year
to planting and maintaining our common garden space have the plants and tools that they
need to improve the area’s beauty and function.

In addition, because we have run out of vacant storage units on the north and south
sides of the building, the board is expanding our storage facilities by adding several new
units. Because demand from shareholders has outstripped supply and because such an
expansion is expensive, the board has decided to raise the annual fee for storage units
to $300 per year. At $25 per month, this is still a small fraction of what off-site storage
space typically rents for, and because it’s in your building, it’s vastly more convenient.
Expect new annual storage rates to be applied at the time of your next annual renewal.

And a reminder – please visit Colonial Court’s new Web site at www.colonialcourt.org to
learn more about your building, download important forms and newsletters, and contact
the board and the management company.

Thank you again for your input.

Board of Directors
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