TROUT VALLEY – The Village Board is recommending that the Trout Valley Homeowners Association increase its dues.
The 220 households in the village currently pay $1,000 in annual dues to the association, but pay no property taxes to the village. Village President Bob Baker said the board is concerned about the financial future of the association if dues are not increased.
“There needs to be a dues increase, though they can entertain the amount,” Baker said.
The board suggested a base number increase with the option of seeking a cost-of-living increase annually if needed. Baker said these increases typically are 3 percent.
“If you’re feeling like you’re flush with cash, you don’t have to go forward with that,” Baker said.
The village also recommended the formation of a joint subcommittee with the association to address financial issues such as the increase. Baker said the village also would like to present a united front to homeowners, regardless of what the association wants to do.
“We’re going to kind of reach out our arm and say, ‘Hey, whatever you need,’ ” Baker said. “The association is feeling pressure to do something.”
The association will discuss this at the next meeting, which is scheduled for 7:30 p.m. June 16 in the Riverfront Lodge. If the association does choose to pursue a dues increase, a vote will be put to the homeowners.