The annual operating budget of the Longboat Harbour Association for 2008 is approximately $1.5 million, paid monthly by the 300 Owners.  Owners have voted to waive the establishment of reserves in the past, and the Board has been upgrading and replacing a number of major assets since 1997 using special assessments to fund the projects.  During that time the unofficial policy has been to limit these special assessments to a maximum of about $500,000 in any one year, or an average of about $1,500 per owner, and the total amount spent on the projects to date has been approximately $2.2 million.

The list of improvements is impressive.  The Recreation Room was completely renovated, exercise equipment in the Gym was replaced and the Gym was renovated, elevators were upgraded, all building roofs were replaced, the owner mail boxes were replaced and mail package lockers added to each building, and the exterior access walkway carpets have been replaced as well.  In 2004 the pool decks and all sidewalks were covered with paver bricks, the roads and parking lots were resurfaced, and paver bricks were added to the condominium entrance.  In 2005, a special assessment was approved to accomplish required repairs to the exterior of buildings, waterproof and repaint all buildings, and install new screen doors at the entrance of all 300 units.  Because of aggressive by the Members to maintan and improve the facilities, Longboat Harbour, despite its age, is a remarkably attracive and modern community.  Its finances are stable.

In recent years the escalation in insurance and utility costs forced increases in the monthly maintence fees of almost 15% in each of 2006 and 2007.  The forecast for 2008 is a more modest increase of 3.5%, more in line with inflation.

Monthly Maintenance Fees in 2008 are:

Buildings A,B,C,D,E,F,G            

  1 Bedroom                     $ 354.00

  2 Bedroom, Interior     $ 417.00

  2 Bedroom, End            $ 480.00

Buildings H.I.J.K.L.M.N            

  1 Bedroom                     $ 358.00

  2 Bedroom, Interior     $ 417.00

  2 Bedroom, End            $ 477.00