To: All Eagles Loft Owners

As your Board of Directors of the Eagle’s Loft Association, we have carefully studied various options to balance our spending and yet dedicate the appropriate monies to maintain our resort to fulfill our owner’s vacation expectations. We have reviewed the satisfaction reports from our guest visits for the last year for our Association and believe that we must dedicate the appropriate funding to continue to update and maintain our units to meet those expectations.

The overall (operating) expense reflects a 5% increase. The portions reflecting the most increase is the repair and maintenance area to expand common area cleaning and the management Fees to include reserves collected. The 2010 fee will be $625.00 which is an increase of $55 over the 2009.

The needs for the future include improvements in our reserve funds so that as those projects arise, we can perform the projects in a proactive manner.
In 2009 a Reserve Study was performed. In order to meet the requirements of this study, we have increased the reserve portion of our maintenance fees by 30%.

The refurbishments that you can expect from this increase will address the bathrooms, kitchen cabinets, countertops, painting, entry doors, stairs, landings and interior furnishings.

We have come a long way… a look back would show that we have new air conditioning in all of our 56 units, new siding, roofing, windows and many new decks. We have improved landscaping and have begun upgrading furnishings.

Our collection efforts continue to be outstanding. Eagle’s Loft has one of the best collection ratings in the entire system.

The Board hopes all owners are aware of the improvements that have been made in the past few years. We would encourage you to come to your beautiful resort in Pagosa Springs and enjoy for yourself the upgrades that we are making.

The Eagles Loft Board of Directors