To: All Eagle’s Loft Owners

As you can see from the enclosed statement, there will be an increase in our maintenance fee. The new 2009 fee will be $570, an increase of $52 over 2008. That is not good news. I can assure you that your elected board of directors of the association works hard to balance spending with the need to maintain a functional resort that fulfills owner’s vacation expectations. Some of the larger cost increases have been management charges, trash removal up 41%, water and sewer charges up 58% and master Association dues up 25%. Higher gasoline costs have affected many of our vendor services.

In 2009 Eagle’s Loft will be operating under a new management contract with Wyndham; there will be some changes that will allow Wyndham to operate in a more efficient manner.

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

It is obvious that we should keep our focus on the future, but a look back at the accomplishments of the past 5 years is encouraging. All of our 56 units have new air conditioning, siding, new roofing, many new decks, improved landscaping, upgraded furnishings and other improvements. In 2009 we look forward to completion of the window replacement project and the beginning of door unit replacement as needed.

The needs for the future include improvements in our reserve funds so that as replacement projects arise, we can perform the projects in shorter and more efficient time frames.

The Board hopes that all owners are aware of the improvements that have been made in the past few years. If you have not visited your beautiful resort in Pagosa Springs recently, we hope that you will visit soon.

November 2008

Leo Padgett
President
Eagle’s Loft Property Owners Association