Good morning! 

This week, I’m laser-focused on pushing through our Q4 goals, aiming to wrap things up ahead of the holiday rush. It’s a busy season, but with everyone aligned and working hard, I’m confident we’ll finish strong. Looking forward to sharing our progress and celebrating these milestones with you soon!

— Lucas Robinson, Founder & CEO at BudgetMailboxes.com

🎯 This Week’s Strategy:

• Public-Private Partnership (PPP) Models

🌐 Boardroom Brief:

• Daybreak HOA Faces Major Fee Increase as Homeowners Tackle Costly Repairs

Strategy

🎯 Public-Private Partnership (PPP) Models

This week, we're introducing a strategy that can amplify the resources and impact of your HOA's community improvement projects: Public-Private Partnerships (PPPs). PPPs are collaborative arrangements where public entities—like local governments—partner with private organizations or businesses to fund and execute projects. This approach leverages the strengths and resources of both sectors, allowing your HOA to tackle ambitious projects with greater efficiency, shared costs, and enhanced outcomes.

What is a PPP and Why it Benefits HOAs

In a PPP, the private sector may provide financing, expertise, or resources, while the public sector grants approvals, permissions, or oversight. For HOAs, these partnerships can be especially useful for larger community projects such as park upgrades, energy-efficient infrastructure, or public road maintenance within the property. The main advantages include access to private funding, specialized skills, and shared responsibility, which can lead to a higher-quality outcome without overburdening the HOA budget.

Steps to Implementing a PPP in Your HOA

1. Identify Projects with Community Benefits: Begin by selecting projects that align with both the HOA’s objectives and the interests of potential partners, such as eco-friendly amenities, recreational spaces, or improved infrastructure. Projects with public appeal often attract interest from businesses and local government, making them strong PPP candidates.

2. Engage with Potential Partners: Reach out to local government representatives, nearby businesses, or service providers who could benefit from or have a stake in the project. For instance, a local energy provider might co-fund a solar energy installation that reduces environmental impact and provides a public demonstration of sustainable practices.

3. Define Clear Objectives and Responsibilities: Establish a clear understanding of each partner’s role, expectations, and contributions. Outline financial commitments, project timelines, and specific deliverables in a formal agreement. This ensures transparency and helps avoid misunderstandings during implementation.

4. Leverage Government Incentives and Grants: Many local governments offer incentives or grants for community projects that improve public infrastructure or reduce environmental impact. Research available programs and apply where eligible, as these can significantly offset costs for the HOA and its partners.

5. Engage the Community: Inform residents about the project, its benefits, and the HOA’s role within the partnership. Involving the community fosters support, especially for projects that may temporarily affect daily life. Use newsletters, meetings, or digital platforms to keep everyone updated on progress and upcoming milestones.

Tips for Effective PPP Management

• Risk Sharing: Clearly assign risks to the parties best equipped to manage them. For example, if the private partner has expertise in construction, they might assume risks related to project delays, while the HOA might handle communication with residents.

• Performance Monitoring: Establish regular check-ins and performance metrics to ensure the project remains on track and meets community standards.

• Long-Term Maintenance Plans: After the project’s completion, set up agreements for long-term maintenance and care. This ensures that the new asset remains a benefit rather than a burden.

By pursuing PPPs, your HOA can achieve larger, community-enhancing projects that would be challenging to fund or manage alone.

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Boardroom Brief

Daybreak HOA Faces Major Fee Increase as Homeowners Tackle Costly Repairs

Homeowners in South Jordan’s Daybreak community are preparing for a substantial increase in HOA fees starting January 1, 2025, as the association tackles extensive repair costs for structural damage affecting nearly 400 units. Following years of legal battles with the original builders, which ended in the HOA's loss, residents will see an additional $240 per month added to their dues—potentially bringing monthly fees close to $700 for some owners. Homeowners now face a difficult choice: commit to the ongoing fee or pay a lump sum of nearly $31,000 to cover repair costs outright. Although the fee hike is unwelcome, many residents agree it’s necessary to maintain safe and livable conditions in the community.

Game

🎉 Fun Finale: Play & Poll